Tuesday, August 4, 2015
Social Innovation Fund Awards $11.3 Million Grant to LISC to Expand Education, Career Services for Low-Income Individuals
As part of a vigorous new effort to help jobless Americans upgrade their reading and math skills to better prepare for employment, the Social Innovation Fund (SIF) has awarded an $11.3 million grant to the Local Initiatives Support Corporation (LISC), a national community development nonprofit. LISC will leverage the grant to expand a successful program that offers job training and financial coaching to low-income people whose skills deficit has kept them trapped in poverty.
"One of the biggest challenges facing people living in poverty who are struggling to find employment is a lack of education and skills-and that creates a mismatch with available jobs," said Kevin Jordan, LISC senior vice president of national programs, who praised the government for honing in on this persistent challenge. "Even among those with a high school education, many still lack skills beyond the level of middle school. We've found a way to help close this gap-and we are seeing it bear fruit, helping people to gain knowledge and confidence, and find better-paying jobs."
Jordan added that Financial Opportunity Centers illustrate the impact of strong public-private partnerships-noting that national funding for the network comes not just from the SIF but also from major corporations and foundations. They include Citi Foundation, MetLife Foundation, JPMorgan Chase, State Farm, Bank of America, Accenture, Walmart Foundation, W.K. Kellogg Foundation, The Kresge Foundation, The Annie E. Casey Foundation, John D. and Catherine T. MacArthur Foundation, U.S. Bank, and Capital One. Local funders in communities across the country further match those dollars....