WSFS CARES Foundation Provides More Than $185K in First Quarter Grants to Community Organizations
March 27 2024 - 1:13PM
Business Wire
The WSFS CARES Foundation, the charitable giving arm of WSFS
Bank (Nasdaq: WSFS), announced it has provided grants to five
organizations as part of its continuing series of philanthropic
activities by WSFS and the Foundation. The grants, approved in the
first quarter by the WSFS CARES Foundation board, will support the
following organizations:
- Delaware Prosperity Partnership ($150,000 Grant to be paid
over three years) Delaware Prosperity Partnership (DPP) is the
nonprofit state economic development agency leading Delaware’s
economic development efforts to attract, grow and retain
businesses, build a stronger entrepreneurial and innovation
ecosystem, and to support employers in identifying, recruiting and
developing talent in Delaware. The WSFS grant will support key
programs promoting Delaware’s economy throughout 2024-2026.
- Distance Learning Center ($55,000 Grant) The Distance
Learning Center (DLC), located in Philadelphia, is a nonprofit with
a mission to increase the number of underrepresented minorities in
science, technology, engineering, math and medicine (STEMM). The
WSFS grant will support the STEMMPREP Project to help provide 10
scholarships for disadvantaged and underserved minority junior high
school student trainees for phase one of a ten-year training
pipeline.
- FinServ Foundation ($78,000 Grant to be paid over three
years) The FinServ Foundation is a nationwide nonprofit focused
on building a more inclusive, representative and vibrant financial
services profession by working directly with colleges and
universities to support the next generation of skilled
professionals. The WSFS grant will support Delaware State
University and Temple University students to join FinServ for a
two-year program that includes six months of mentorship, 24 hours
of coaching and education and access to a financial services
industry conference.
- New Jersey Community Capital ($25,000 Grant) New Jersey
Community Capital is a nonprofit community development financial
institution (CDFI) providing an innovative toolkit of financial
products, programs and services to advance equity and opportunity
in the communities it serves. The WSFS grant will enable the
organization to deploy loan capital and strategic investments to
borrowers for acquisition, construction and permanent financing of
community development projects, directly benefitting
low-to-moderate income families and communities.
- Wilmington Neighborhood Conservancy Land Bank ($100,000
Grant to be paid over three years) The Wilmington Neighborhood
Conservancy Land Bank (WNCLB) works to return vacant, dilapidated,
abandoned and delinquent properties back to productive use, while
strengthening and revitalizing its neighborhoods and inspiring
economic development. The WSFS grant will allow work to begin on
the rehabilitation of 10 additional units for homeownership and for
the acquisition of 18 strategic properties in private
ownership.
“The mission of the WSFS CARES Foundation is to support
nonprofits that are invested in improving communities and fostering
a spirit of inclusion and diversity,” said Patrick J. Ward,
Executive Vice President, Pennsylvania Market President at WSFS
Bank and Chairman of the WSFS CARES Foundation. “We’re proud to
support each of these great organizations, which share our focus on
investing in and strengthening their communities through
revitalization, business economic empowerment, education,
leadership development and affordable housing.”
“Delaware Prosperity Partnership is grateful to the WSFS CARES
Foundation for investing in our efforts to attract, grow and retain
businesses throughout Delaware,” said Kurt Foreman, DPP President
and CEO. “This grant will help support DPP’s Global Advisors
Program, which furthers our efforts to promote Delaware as a
first-choice location for foreign direct investment by European,
Asian and other international companies seeking to expand to the
United States. WSFS was one of our founding investors, and we thank
them for their continued investment in DPP. With such support, we
are able to maintain our momentum and impact on Delaware’s economy
as we work to advance prosperity for all those living and working
in Delaware.”
“The WSFS CARES Foundation is providing a 2024 grant to the
Distance Learning Center's STEMMPREP Project, a longitudinal
developmental paradigm, which utilizes a multi-institutional
mentorship approach that rotates underrepresented minority
participants through a 10-summer basic science lab internship
‘continuum’ at research universities in the U.S. and Canada,” said
Dr. Moses Williams, Executive Director and Founder, The Distance
Learning Center. “The WSFS grant will support economically
disadvantaged high school trainees who cannot afford to cover the
cost of attendance to the summer lab internship.”
“The FinServ Foundation, for the past four years, has made
monumental strides in exposing, educating and empowering the next
generation to seek careers in the financial services industry,”
said Dr. David Rhoiney, Board Member, FinServ Foundation. “The
foundation's board is all volunteers who believe in changing the
industry for good. That altruism is reflected in the organization's
mission, and as a result, the FinServ Foundation has shown itself
to be a bright spot in an industry which is ever evolving. We are
excited to partner with the WSFS CARES Foundation to support local
schools like Delaware State University and future professionals in
the PA, NJ and DE area.”
“We are grateful for the generous grant from the WSFS CARES
Foundation and the impact it will have across our region,” said
Bernel Hall, President and CEO of New Jersey Community Capital.
“This investment will help NJCC continue to foster an equitable
path to building wealth that will strengthen neighborhoods in
traditionally underserved communities.”
“The Wilmington Land Bank is proud to join forces with WSFS Bank
in the transformative revitalization of the Lower Hilltop
neighborhood,” said Rick Gessner, Board President, Wilmington Land
Bank. “This once-neglected community has experienced significant
investment in the past two years, and with the generous support of
WSFS, we will continue this important work. Over the next three
years, our collaboration will assist in the rehabilitation of 10
units for affordable homeownership and the strategic acquisition of
18 privately-owned properties. We are grateful to WSFS for their
investment in the revitalization of this Wilmington, Delaware
community.”
About the WSFS CARES Foundation The WSFS CARES Foundation
brings WSFS’ mission of We Stand for Service® to life across the
communities we serve. The mission of the WSFS CARES Foundation is
to support qualified nonprofit service organizations within our
regional footprint that are invested in improving communities,
fostering a spirit of inclusion and diversity, and whose focus
aligns with the WSFS CARES Foundation’s transformational vision.
For more information, please visit
https://www.wsfsbank.com/about/community/the-wsfs-cares-foundation/.
About WSFS Financial Corporation WSFS Financial
Corporation is a multibillion-dollar financial services company.
Its primary subsidiary, WSFS Bank, is the oldest and largest
locally headquartered bank and trust company in the Greater
Philadelphia and Delaware region. As of December 31, 2023, WSFS
Financial Corporation had $20.6 billion in assets on its balance
sheet and $84.3 billion in assets under management and
administration. WSFS operates from 114 offices, 88 of which are
banking offices, located in Pennsylvania (57), Delaware (40), New
Jersey (14), Florida (1), Nevada (1) and Virginia (1) and provides
comprehensive financial services including commercial banking,
consumer banking, treasury management and trust and wealth
management. Other subsidiaries or divisions include Arrow Land
Transfer, Bryn Mawr Capital Management, LLC, Bryn Mawr Trust®, The
Bryn Mawr Trust Company of Delaware, Cash Connect®, NewLane
Finance®, Powdermill® Financial Solutions, WSFS Institutional
Services®, WSFS Mortgage®, and WSFS Wealth® Investments. Serving
the Greater Delaware Valley since 1832, WSFS Bank is one of the ten
oldest banks in the United States continuously operating under the
same name. For more information, please visit www.wsfsbank.com.
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Kyle Babcock (215) 864-1795 kbabcock@wsfsbank.com
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