NEW YORK, Oct. 1, 2016 /PRNewswire/ -- Youth INC and Royal Bank of Canada (RY on TSX and NYSE) have announced that more than 2,000 people are participating in the eighth annual RBC Race for the Kids in Manhattan. The event - held downtown at Brookfield Place Waterfront for the second consecutive year - is a family day of athletic challenge that includes a 4K run, a physical fitness challenge, children's races, and a cycling tour. Led by RBC, this year's Race raised more than $2 million for Youth INC and seven other* youth-serving nonprofits.
RBC Race for the Kids expanded this year to include financial services giants that put aside their competitive spirit and put helping NYC kids first! There were participants from BNY Mellon, Goldman Sachs, MidOcean Partners, Morgan Stanley, Oaktree, PJT Partners and PSAM.
"RBC is a clear leader in corporate social responsibility that is focused on having an impact in the communities in which they operate. We are lucky to have them as a partner to fuel our unique venture philanthropy model that helps over 63 youth-serving nonprofits in NYC reach 300,000 kids each year," said Rehana Farrell, Executive Director of Youth INC. "We want every company in NYC involved so that every child in NYC can reach his/her full potential! We are grateful for the support of RBC and our MVP sponsors BNY Mellon, CrossFit Solace, Memorial Sloan Kettering Cancer Center, PJT Partners and Two Sigma. Together, we can Raise Our City."
"RBC Race for the Kids provides an opportunity for RBC's dedicated and civic-minded employees to come together and support under-served youth in New York City alongside their fellow New Yorkers," said Blair Fleming, Head of RBC Capital Markets, U.S. and Head of U.S. Investment Banking. "The success of the event speaks volumes to the firm's camaraderie, unique culture and our mission of helping clients thrive and communities prosper."
Alex Navab, KKR's Head of Americas Private Equity and Co-Head of Youth INC's National Advisory Board, said, "I continue to be impressed and inspired by the people at RBC, who demonstrate philanthropy and a commitment to the New York City community throughout all layers of their organization. Actions like these will drive long-term change for New York City's youth."
RBC has a long legacy of supporting charities and initiatives that benefit youth and communities at the grassroots level. This is one of 11 charitable runs RBC hosts annually in Canada, the United States, the United Kingdom, Trinidad & Tobago, Kuala Lumpur, Hong Kong, Australia, and Luxembourg. The RBC Race for the Kids series is part of RBC's larger commitment to youth through the RBC Kids Pledge, a five-year, $100 million promise to improve the well-being of one million kids and youth.
RBC Race for the Kids has gained recognition from a number of senior government officials.
Senator Schumer said: "For the second year in a row, RBC and Youth INC have engaged the downtown community to help raise crucial funds for youth in New York City. I commend everyone involved in this effort and urge all our corporate citizens and nonprofits to continue working together to increase opportunities and provide a path to success for every young person in our state, regardless of their circumstances."
Senator Gillibrand added her support: "Congratulations to all those gathered to celebrate New York City's youth and congratulations to Youth INC and RBC for hosting RBC Race for the Kids. This event is such an important way to help Youth INC continue their important work transforming the lives of children and families throughout the city."
Congresswoman Maloney commented: "I am delighted that Youth INC and RBC are hosting this event, which brings the downtown community together to raise funds for young people in New York City. This is a fantastic partnership among private and non-profit organizations and is a terrific way to raise money for a great cause. I hope all of the participants have a wonderful time at the RBC Race for the Kids and thank them for helping some really terrific programs."
Lt. Governor Kathy Hochul also supported the event, adding: "The eighth annual Race for the Kids highlights RBC's extraordinary commitment to lifting the hopes and improving the lives of children, here in New York and around the world. Their work makes it possible for dozens of agencies to provide the services and support so many young people need to overcome the challenges they face. I am grateful for RBC's generosity and to the more than 2,000 people who are taking part in tomorrow's run."
*Funds raised through RBC Race for the Kids will also positively impact other youth-focused charities, including: Big Brothers Big Sisters of NYC, Fiver Children's Foundation, GallopNYC, Memorial Sloan Kettering Cancer Center (MSK), Ronald McDonald House of New York, Play Rugby USA, and WE Charity.
About Youth INC
Youth INC's mission is to transform the lives of NYC youth by empowering the organizations that serve them. We are a network of over 63 youth-serving organizations representing 300,000 youth. We use a rigorous screening process to identify the most promising grassroots youth-serving organizations and help them develop robust fundraising capabilities, build a strong board of directors, and establish metrics to improve their programs and demonstrate their impact. Our partners experience an average revenue increase of more than 170% and increase the number of youth served by over 160%. Our metrics program indicates that 77% of youth surveyed report significant improvements in character, self-esteem and tenacity – which together drives improved academic performance and reduced risk behavior – or THRIVING YOUTH! Since 1995, we have raised over $60 million to transform over 140 youth-serving organizations. Get involved and help us Raise Our City! www.youthinc-usa.org
Royal Bank of Canada is one of the largest banks in the world. It employs over 80,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. RBC's mission is to help clients thrive and communities prosper. RBC has been present in New York City for more than 100 years and is a leading corporate citizen in the support of the New York community, contributing millions of dollars annually, as well as time invested by hundreds of RBC employees.
About RBC Capital Markets
RBC Capital Markets is the corporate and investment banking arm of the Royal Bank of Canada. RBC Capital Markets is a premier investment bank that provides a focused set of products, services and expertise to corporations, institutional investors and governments around the world. With over 7,000 professionals in 15 countries, the firm delivers products and services to clients in over 100 countries through operations across North America, Europe and the Asia-Pacific region. For more information, please visit http://www.rbccm.com/.
About RBC in New York
RBC has been present in New York City for more than 100 years and is a leading corporate citizen in the support of the New York community, contributing millions of dollars annually, as well as time invested by hundreds of RBC employees.
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SOURCE Youth INC