M&T BANK CORPORATION New Initiative Celebrates the M&T Charitable Foundation's 30th Anniversary
BUFFALO, N.Y., March 27, 2024 /PRNewswire/ -- The M&T Charitable Foundation, the philanthropic arm of M&T Bank (NYSE: MTB), today announced $900,000 in grants to commemorate its 30th anniversary. Through the 30 & 30 Giving Initiative, 30 organizations throughout the company's footprint received $30,000 to support their efforts to build and develop affordable housing and to fight homelessness in underserved, low- to moderate-income communities.
Founded in 1993, the M&T Charitable Foundation works in partnership with nonprofit organizations that focus on improving the quality of life for the bank's customers, employees, and neighbors. Awarding nearly $40 million in grants each year, the Foundation has given more than $534 million to thousands of nonprofit organizations throughout its 30-year existence.
"Since its beginning, the foundation's reach and impact have been expansive, profound, and lasting," said Dominique Goss, Executive Director of the M&T Charitable Foundation. "The 30 & 30 Giving Initiative is a sign of what's to come for the next 30 years and reflects our commitment to tackling critical issues like affordable housing and supporting efforts to provide families the ability to live and thrive in the communities we serve."
Supporting the development of affordable housing is an important part of the bank's $43 billion Community Growth Plan which includes $20 billion for community development initiatives and affordable housing.
More than 90 different organizations were nominated by teams in each of the company's regions. To finalize the 30 recipient organizations and distribute the funding, the Foundation collaborated with OutcomesX, a first-of-its-kind social outcomes market that leverages Impact Genome Registry's (IGR) impact standard to bring transparency and equity to the social sector.
"OutcomesX recognizes that funding is a means to an end, not the end itself," said Phyllis Kurlander Costanza, President and Co-Founder. "Our commitment to leveling the playing field for all social impact organizations and rewarding non-profits based on the quality of their impact, rather than their fundraising connections made supporting the M&T Charitable Foundation on the 30 & 30 Giving Initiative a natural partnership."
To execute the initiative, nominated organizations were asked to register their program with IGR to ensure it met the Foundation's criteria. Using the standardized information, M&T employees in each region voted for their charity of choice, assisting in the selection of the 30 grant-recipient organizations.
The finalist organizations were then required to verify their impact with the IGR. This process enabled the Foundation to understand the actual social impact that each organization and grant had on the communities they serve. Each $30,000 grant is unrestricted so that resources can be allocated where they are needed most, enabling the organizations to address evolving community needs and challenges. Click here for a full list of grant recipients and their locations.
About M&T Charitable Foundation
The M&T Charitable Foundation, the philanthropic arm of M&T Bank, is a 501(c)(3) not-for-profit charitable organization founded in 1993 and funded by M&T Bank. The M&T Charitable Foundation awards nearly $40 million in grants per year to thousands of nonprofit organizations focused on improving the quality of life in the areas the bank serves.
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information on M&T Bank, visit www.mtb.com.
Equal Housing Lender. © 2024 M&T Bank. Member FDIC. All rights reserved.
Media Contacts:
New England
Christopher Loh
cloh@mtb.com
Metro New York and Long Island
David Samberg
dsamberg@mtb.com
Upstate and Western New York
Thea Pecht
tpecht@mtb.com
National Media and Mid-Atlantic
Frank Lentini
flentini@mtb.com
About OutcomesX
OutcomesX is a social outcomes market whose mission is to transform social impact into a tradable good that impact investors, corporations, and philanthropy can purchase from vetted nonprofits and social enterprises. OutcomesX creates the infrastructure to standardize, price, trade, and report on social impact where outcome buyers benefit from price discovery and verified data to inform social spend, and impact producers get access to liquidity and reduced fundraising and reporting burden. Above all, OutcomesX brings efficiency and equity to the business of social impact, allowing any organization, large, small, or community-led, access to capital based on their results.
View original content to download multimedia:https://www.prnewswire.com/news-releases/30--30-giving-initiative-gives-900-000-to-affordable-housing-and-homelessness-prevention-programs-across-the-country-302100734.html
SOURCE M&T Bank Corporation
