BNY Mellon Pathways program helps youth in foster care make smoother transitions
October 12, 2012
BNY Mellon is holding a summit this week to address an important issue - youth in foster care successfully exiting the system and entering society as productive individuals - which has in the past failed to draw as much attention as it deserves. The global financial services company launched the Pathways program in 2010 as part of its overarching Powering Potential program, which focuses on improving local communities through workforce initiatives.
"It's estimated that annually more than 25,000 young people in the United States move out of foster care when they reach 18," said James McDonald, BNY Mellon's director of global philanthropy. "Since BNY Mellon started its Pathways program, we have donated more than $2 million in grants that have helped more than 450 vulnerable youth."
The organization has already seen a number of improvements across the board as a result of its efforts, including a 10 percent increase in the number of high school graduates who entered the workforce, a 42 uptick in the number of students who enrolled in college and a 13 percent drop in youth involved in the juvenile justice system.
Foundations that support nonprofit programs year-round can use grant management software
to help board members and accountants track funds and recipients as awards are allocated.