Breaking Barriers: T.D. Jakes Foundation and Wells Fargo Invest $9 Million in Transformational Community Development Across America
Grant funding part of 10-year strategic partnership between T.D. Jakes Group and Wells Fargo to promote economic advancement nationwide
DALLAS, Feb. 7, 2024 /PRNewswire/ -- The T.D. Jakes Foundation (TDJF), in collaboration with Wells Fargo, are creating opportunities for historically underrepresented communities with a philanthropic investment of $9 million in grants to 16 community-based organizations across the United States. This funding is poised to support the creation of financial wellness and innovation centers, help organizations convert underutilized land into affordable homes, and drive impactful change for college students.
In April 2023, T.D. Jakes Group and Wells Fargo announced a 10-year partnership that could result in up to $1 billion in capital and financing to support underserved communities across the United States.
The philanthropy spans across diverse communities, including Black, Brown, and impoverished White populations. The alliance is a resounding commitment to narrowing divides and empowering marginalized communities with tools and resources for generational wealth. The grants are funded through a donor-advised fund managed at the Communities Foundation of Texas on behalf of T.D. Jakes Foundation and Wells Fargo.
"This partnership allows both of our organizations to catalyze change in a myriad of sectors and to help craft better lives for those benefiting from the work of the T.D Jakes Foundation and other community organizations funded by the partnership. While our work is just beginning with Wells Fargo, this is a continuation of our organization's commitment to providing financial literacy, career development opportunities and financial resources for underserved students and communities," said T.D. Jakes, CEO of T.D. Jakes Group. "Disruption is the only solution to systemic inequality. Partnerships with impactful and relevant organizations enable us to provide even more opportunities to transform historically marginalized groups and areas across the entire nation."
"To create transformational change, we need to collaborate simultaneously across the multitude of issues facing our communities," said Darlene Goins, head of philanthropy and community impact at Wells Fargo. "With our philanthropic investment, Wells Fargo is aiming to expand the reach of the T.D. Jakes Foundation across housing, small business, and financial health to help tackle the complexities of the wealth gap."
The 16 community-based organizations represent a combined effort to strengthen the economic, entrepreneurial and cultural infrastructure across America. These grant recipients will use the funds to further financial literacy in Historical Black Colleges and Universities (HBCUs), build career centers and offices, support affordable housing projects and cultivate top-tier careers for college students.
Organizations receiving grants include:
- Community Foundation of Central Savannah River Area (CFCSRA): $500,000
- Fund the introduction and development of a grocer in the Laney Walker neighborhood of Augusta, Georgia
- The Dallas Entrepreneurs Center (DEC) : $250,000
- Fund the DEC's Capital Access Resource Center to support underrepresented founders
- Enterprise Community Partners: $1,000,000
- Invest in Faith-Based Developers' Initiative to help houses of worship convert underutilized land into affordable homes
- Fort McPherson (T.D. Jakes Foundation): $1,500,000
- Build T.D. Jakes Foundation office, located within the Fort McPherson development, to provide wraparound services to citizens within Metro Atlanta.
- Greenwood Rising Black Wall Street History Center: $25,000
- Support Greenwood Rising's Homecoming event honoring icons of Wall Street and inspiring action needed for financial inclusion
- Greenwood Cultural Center: $25,000
- Support of Greenwood Cultural Center's educational programs
- HBCU Community Development Action Coalition: $100,000
- Further the "Our Money Matters" program for HBCU students
- HomeFreeUSA: $1,250,000
- Support new technology platform to and develop a housing counseling and financial education program pilot in Dallas, TX and Atlanta, GA
- Jackie Robinson Foundation: $1,500,000
- Support JRF Impact for broadened support of Black college students
- The Milken Institute: $1,000,000
- Support the HBCU Fellows Program equipping students with similar access to tools and resources historically afforded only to Ivy League institutions
- Operation Hope: $600,000
- Develop the functionality of On-Demand Services to connect clients to financial health programs
- Paul Quinn College: $150,000
- Establish an on-campus Financial Wellness Center for financial health and literacy
- Society for Financial Education & Professional Development (SFEPD): $200,000
- Support of Seminars & Workshops initiative for HBCUs in Texas
- SoLa I CAN FOUNDATION: $250,000
- Promote a Career Development Initiative in the South Los Angeles community
- Westside Future Fund: $500,000
- Support the Cradle to Career Education initiative for next generation Atlantans
- Wiley University: $150,000
- Establish an on-campus Financial Wellness Center for financial health and literacy
"We have worked at the local and national level to build meaningful partnerships that help us cultivate cultural and economic shifts, and our relationship with Wells Fargo advances what we are aiming to achieve at T.D. Jakes Foundation," said Kelley Cornish, CEO of T.D. Jakes Foundation. "The grantees will use the funds to arm the next generation of college students with financial literacy and career building skills and will create much needed support for entrepreneurs, homebuyers and the underserved population who have not had access to life-changing and uplifting resources."
About T.D. Jakes Foundation
T.D. Jakes Foundation is building bridges by unlocking the power of global competition through workforce training that prepares workers to compete in today's economy through STEM/STEAM education, financial literacy and inclusion, and a laser focus to close the racial wealth gap and support minority women in corporate leadership. For more than 40 years, T.D. Jakes has connected diverse communities across socio-economic divides. Through the work of T.D. Jakes Foundation, Chairman Jakes is harnessing decades of resources and connections to prepare people for success in the 21st-century workforce, lift underserved populations and connect corporations to new, highly skilled pools of talent amid increasing global competition. For additional information visit: https://tdjfoundation.org/
About The T.D. Jakes Group
The T.D. Jakes Group is a global conglomerate that's worked for more than four decades at the intersection of mission, ministry and marketplace to solve society's problems through strategic alliances creating equity and providing solutions for underrepresented and underserved communities. The organization's four pillars operate globally: T.D. Jakes Enterprises is a civil rights award-winning social impact holding company reaching millions through entrepreneurial training, minority business accelerator initiatives and trailblazing representation in streaming unscripted series, film, music and publishing that has grossed over $500 million worldwide through original entertainment content; T.D. Jakes Foundation is building bridges by unlocking the power of global competition through workforce training that prepares workers to compete in today's economy through STEM/STEAM education, financial literacy and inclusion, and a laser focus to close the racial wealth gap and support minority women in corporate leadership; T.D. Jakes Real Estate Ventures is actively developing sustainable communities with a focus on economic development, eradicating food deserts and opening doors for home ownership and wealth building where none existed before.; T.D. Jakes Ministries is a faith-based international organization who's inspiring content is translated to over 90 languages each week, and whose returning citizen advocacy work has helped over 30,000 individuals create lasting, generational change.
Learn how the T.D. Jakes Group is creating a more equitable society through innovative concepts and disruptive partnerships by visiting www.tdjakes.org/newsroom
Media Contact Information:
Jordan A. Hora
T.D. Jakes Group
[email protected]
Liz Gleason
BCW
(469) 978-3657
[email protected]
SOURCE T.D. Jakes Foundation
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