SOLA IMPACT'S I CAN FOUNDATION PARTNERS WITH SNAP INC. TO HELP SOUTH LA STUDENTS AFFORD COLLEGE

LOS ANGELES, Feb. 10, 2022 /PRNewswire/ -- Today, the SoLa I Can Foundation announced a new partnership with Snap Inc. to fund four year scholarships and financial aid for 25 college-bound students from South Los Angeles, a community where only 3 in 10 graduating high school seniors go on to attend college. Beyond the financial commitment to scholarships, Snap will also work closely with the SoLa Impact team to provide long-term programming and engagement through the SoLa Technology and Entrepreneurship Center, launched earlier this month.

"Deserving students from South Central Los Angeles want to pursue two- and four-year degrees, but the arduous financial aid process and the massive student loan burden can be daunting. We want to help not only finance, but also support, inspire, and mentor these young people as they navigate the halls of academia," said Sherri Francois, Chief Impact Officer of SoLa Impact and Executive Director of the SoLa I Can Foundation.

"At Snap, we are committed to creating a more diverse, inclusive and equitable world, both for our own team and the larger community we are part of. We look for organizations that have scalable and practical solutions to address racial equity and increase opportunity for communities like South Los Angeles. In addition to financially supporting the SoLa Scholars program, we found a partner that gives our team members meaningful ways to engage with the community to share their skills and talents," said Lindsey Heisser, Philanthropy Program Manager at Snap Inc. 

SoLa, supported by partners like Snap, aims to help break the cycle of intergenerational poverty by enabling young people to unlock their potential and become leaders of tomorrow.

"We look for partners who are long-term oriented and work closely with the community to provide educational and mentorship opportunities to its students in order to help develop pathways to careers in science, technology, engineering, the arts, and mathematics. We are inspired by the work that SoLa is doing within the community and are thrilled to support the students of South LA through our partnership," said Chandelle Wiebe Hakim, Philanthropy Program Manager at Snap Inc.

SoLa Impact, a leading minority-led affordable housing developer, provides high quality affordable and workforce housing across Los Angeles and Southern California. Snap has committed to donating $250,000 to fund scholarships for 25 low-income students. These academic and need-based scholarships will help SoLa Scholars pursue higher education at colleges and universities across the country. 

"We serve an increasingly vulnerable population that needs not only high-quality affordable housing, but also support and inspiration for their families to break the cycle of poverty. Most of our SoLa Scholars are the first in their families to go to college. Some are undocumented residents. Many have experienced homelessness and other forms of trauma," said Martin Muoto, CEO of SoLa Impact. "Snap's partnership and the scholarships provided gives these students renewed hope and a second chance of attaining the American dream."

Beyond housing, SoLa Impact's extensive social programs provide practical solutions to racial inequality by equipping tenants with vocational training, financial counseling, scholarships, and pathways to homeownership and self-sufficiency. SoLa recently opened the doors to its 14,000 square foot, state-of-the-art Technology & Entrepreneurship Center and announced a partnership with Riot Games. The Center provides students with free education and training and aims to inspire and develop the next generation of Black and brown game developers, esports athletes, technology professionals, leaders, and entrepreneurs.

"I am very grateful for the scholarship provided by SoLa," said Angel Vargas, who now attends University of California at Berkeley. "The college process has been much easier with the funding and resources during my time as a college student."

Snap will provide additional programming support to SoLa Impact's newly unveiled Technology and Entrepreneurship Center, which provides free technology education to the community of South Los Angeles, and will host quarterly "Snap Summits" for students throughout the year at SoLa's Beehive campus. 

Students can apply for a scholarship online at www.solaican.org/scholarships.

About SoLa Impact 
SoLa Impact is a family of real estate funds with a double bottom line strategy focused on preserving, rehabbing, and building high-quality affordable housing in Black and brown communities. SoLa's proven track record leverages data-driven social impact strategies to deliver strong financial returns. SoLa Impact's fourth fund, the Black Impact Fund, is part of an initiative to invest over $1 billion in affordable and workforce housing and related social impact strategies across urban cities in California.

About SoLa Impact's I CAN Foundation 
The SoLa I CAN Foundation, a 501(c)3 nonprofit affiliate of SoLa Impact, aims to improve the lives of South LA residents and break the cycle of intergenerational poverty by providing opportunities for education and economic mobility. SoLa provides the community with skills-based technology programming, as well as scholarships and career development opportunities for underinvested communities to ensure Black and brown Angelenos get increased access to jobs, mentorship, and placement in the most competitive fields of business. 

About Snap Inc.
Snap Inc. is a camera company. We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. For more information, visit snap.com. Snap's philanthropic mission is to empower students from under-resourced communities by supporting equitable access to education and exposure to career pathways in STEAM (Science, Technology, Engineering, Arts, and Mathematics), while strengthening the cities where Snap's team members live and work.

SOURCE SoLa Impact