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ICONIQ Impact Announces Grantees of $56M Collaborative Philanthropy Fund to Advance Long-Term Economic Mobility for Underserved Young People in the United States | ||
By: PR Newswire Association LLC. - 15 Feb 2024 | Back to overview list |
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ICONIQ Impact's Education & Economic Mobility Co-Lab is supporting 16 organizations that are addressing the urgent challenges and persistent historical inequities that hinder economic mobility in the United States. NEW YORK, Feb. 15, 2024 /PRNewswire/ -- Today, ICONIQ Impact—ICONIQ Capital's global platform for collaborative philanthropy—announced the 16 grantees of the Education & Economic Mobility Co-Lab. The Co-Lab is a $56 million philanthropic fund supporting organizations that are working to close the opportunity gap in the United States by: (1) providing more equitable career pathways for marginalized young people, (2) supporting mental health to spur academic and professional success, and (3) equipping underserved families with social, educational, and professional support. The United States is often heralded as the land of opportunity, where economic security and success can be achieved by anyone, irrespective of their race, gender, or family income. In reality, the United States displays some of the highest income and wealth inequality in the developed world, with divides falling sharply along race, gender, and class lines. Fewer than 1 in 13 children born into poverty in the United States will go on to hold a high-income job in adulthood. For Black children born into poverty, the rates fall to just 1 in 40. COVID-19 exacerbated these grave inequities, and it's against this backdrop that philanthropists in the ICONIQ Impact community came together to launch the Education & Economic Mobility Co-Lab. ICONIQ Impact's Co-Labs are founded upon collective action, guided by experts and local leaders, and driven by a desire for impact and results. The model allows philanthropists to pool their resources, leverage the knowledge of trusted issue-area experts and impacted communities, and source and vet nonprofit organizations with rigor. The Education & Economic Mobility Co-Lab will offer three-year, unrestricted grants to 16 organizations working across three critical intervention areas.
Grantee organizations include:
A full list of grantees can be found here. "Closing the opportunity gap in the United States is one of the foremost challenges in this country today," says Matti Navellou, head of ICONIQ Impact. "I'm deeply inspired by the work of our Education & Economic Mobility Co-Lab grantees and equally thrilled to see philanthropists in our community pool funds quickly and effectively to ensure that every family has equitable access to educational opportunity and economic security—regardless of race, income, or gender." ICONIQ Impact has mobilized $56 million thus far and is inviting additional philanthropists to join this effort. Philanthropists interested in learning more about or providing additional funding for the Education & Economic Mobility Co-Lab should contact ICONIQ Impact at iconiqimpact@iconiqcapital.com. ABOUT ICONIQ IMPACT: ICONIQ Impact is ICONIQ Capital's platform for collaborative philanthropy. We convene an extraordinary community of families, founders, and organizations to tackle some of the world's most complex challenges. Guided by experts and impacted communities, our model lowers the barriers to philanthropy, encourages collective action, and prioritizes learning and equity at each step. ICONIQ Impact Co-Labs are collaborative philanthropy funds where donor communities make multi-year grants to a portfolio of nonprofit organizations addressing urgent challenges facing the world today. Each Co-Lab enables donors to maximize their efficiency through co-funding while learning from inspiring experts and leaders of impacted communities.1 MEDIA CONTACT: Amy Enright 1 ICONIQ Impact serves as a philanthropic advisor to the third party sponsoring the Co-Lab and receives compensation for its advice. View original content to download multimedia:https://www.prnewswire.com/news-releases/iconiq-impact-announces-grantees-of-56m-collaborative-philanthropy-fund-to-advance-long-term-economic-mobility-for-underserved-young-people-in-the-united-states-302062579.html SOURCE ICONIQ Capital |
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