Year Up New York to Honor Bain & Company and New York City Housing Authority at Student Graduation Ceremony

Bill Neuenfeldt will accept the "Urban Empowerment Award" on behalf of Bain & Company for their commitment to enabling young adults to reach their full potential through sustainable careers and higher education

Chairman John B. Rhea will accept the "Urban Empowerment Award" on behalf of the New York City Housing Authority (NYCHA) for its continued partnership with Year Up in supporting urban young adults to reach their full potential

NEW YORK, Feb. 1, 2011 /PRNewswire-USNewswire/ -- Year Up New York will award Bain & Company, the global business consulting firm, the "Urban Empowerment Award" in recognition of the firm's continued support and encouragement of both Year Up students and the career training offered through the program. Bill Neuenfeldt, Managing Partner for Bain & Company in New York, will accept the award on behalf of the firm. John B. Rhea, Chairman of the New York City Housing Authority (NYCHA), will also accept the "Urban Empowerment Award" for his unwavering support of urban young adults throughout New York City. The awards will be presented during Year Up New York's graduation ceremony for students on Feb. 1, in which 57 young adults will advance from the program into the workforce and/or higher education.

"It's an honor and a privilege to accept this award from such an exceptional organization," said Bill Neuenfeldt, managing partner of Bain & Company's New York office. "For more than 35 years, our employees have worked towards creating tangible results not only with our clients, but within our communities. Our relationship with Year Up has been a wonderful opportunity for our employees to take on greater leadership roles with a cause that they are passionate about, while ensuring Bain's continued involvement in the community."

Lauded by President Barack Obama for its proven, innovative approach, Year Up is a national organization that provides career training to low-income young adults and helps them secure internships with top U.S. companies. Its scalable model prepares students for the workforce using a unique combination of technical and professional instruction, college credits, an educational stipend and corporate internships. Successful completion of the intensive, one-year program enables graduates to move into full-time employment and higher education. To date, 84 percent of graduates have been placed into positions within four months of graduation, earning an average of $30,000 per year.

"The success of Year Up New York simply wouldn't be possible without the type of support that we receive from organizations like Bain & Company and NYCHA," said Lisette Nieves, Executive Director of Year Up New York. " We are honored to recognize both Bill and John with this year's 'Urban Empowerment Award' for their contribution to helping urban young adults in our community realize their full potential, while at the same time supplying our nation with top talent."

The graduation ceremony will be held on Feb. 1 from 8:00 a.m. to 10:00 a.m. ET at the Cipriani Wall Street at 55 Wall Street.

About Year Up Inc.

Year Up's mission is to close the Opportunity Divide by providing low-income young adults with the skills, experience, and support that will empower them to reach their potential through professional careers and higher education. Year Up achieves this mission through a high support, high expectation model that combines marketable job skills, stipends, internships and college credits. Its holistic approach focuses on students' professional and personal development to place these young adults on a viable path to economic self-sufficiency. Year Up currently serves more than 1,000 students a year at sites in Atlanta, Baltimore (College-Based Pilot Program), Boston, Chicago, New York City, Providence, San Francisco Bay Area, and the National Capital Region, and will be opening in Puget Sound (Seattle) this year. To learn more, visit www.yearup.org or www.youtube.com/yearupinc.

About Bain & Company, Inc.

Bain & Company, a leading global business consulting firm, serves clients on issues of strategy, operations, technology, organization and mergers and acquisitions.  The firm was founded in 1973 on the principle that Bain consultants must measure their success by their clients' financial results.  Bain clients have outperformed the stock market 4 to 1.  With 42 offices in 27 countries, Bain has worked with over 4,400 major multinational, private equity and other corporations across every economic sector.  For more information visit: www.bain.com.

About Chairman John B. Rhea and the New York City Housing Authority (NYCHA)

John B. Rhea was appointed Chairman of the New York City Housing Authority (NYCHA) on June 1, 2009 by Mayor Michael R. Bloomberg. Chairman Rhea has over 20 years of corporate experience, having served as both an advisor and senior executive at a number of the world's leading corporations. Most recently, he was a Managing Director in the Investment Banking Division of Barclays Capital (formerly Lehman Brothers) and served as Co-Head of the Global Consumer & Retail Group. He has been a tireless advocate for early childhood education and arts and cultural programs for New York City's youth as a Board member of Rush Philanthropic Arts Foundation, and as Board Chair of the Children's Museum of Manhattan. Born in Detroit, Michigan, Chairman Rhea attended the Detroit Public Schools and the University of Detroit Jesuit High School. He received a Bachelor of Arts from Wesleyan University and a Master of Business Administration from the Harvard Business School.

NYCHA provides decent and affordable housing in a safe and secure living environment for low and moderate- income residents throughout the five boroughs. To fulfill this mission, NYCHA must preserve its aging housing stock through timely maintenance and modernization of its developments. NYCHA also administers a citywide Section 8 Leased Housing Program in rental apartments. Simultaneously, we work to enhance the quality of life at NYCHA by offering our residents opportunities to participate in a multitude of community, educational and recreational programs, as well as job readiness and training initiatives.

SOURCE Year Up, Inc.