Minnesota’s state commission on national and community service is partnering with social impact technology company, Edquity, to help AmeriCorps members through unexpected financial challenges
MINNEAPOLIS, (November 19, 2021) — ServeMinnesota, the state’s hub for AmeriCorps programs, today announced the launch of its emergency assistance fund for AmeriCorps members to help reduce the financial barriers to service. The program is funded by the Schultz Family Foundation’s National Service Challenge. Funds from this challenge were unlocked by a matching grant from local partner PNC Bank.
These grants will support AmeriCorps members in Minnesota who are serving in communities through 17 programs across the state. AmeriCorps members serve in the areas of education, economic development, substance use disorder recovery, housing, and the environment.
“We truly believe this program will serve as a critical bridge to service for many of our Minnesota AmeriCorps members,” said Audrey Suker, chief executive officer of ServeMinnesota. “The past two years have been a time of flux and change, and we know our members can experience financial barriers during their service. The funds from the Schultz Family Foundation allow us to continue to invest in our AmeriCorps members.”
To ensure fast, equitable distribution of emergency funds, ServeMinnesota has chosen to partner with Edquity, a social impact technology company whose emergency aid distribution technology has already supported the distribution of more than $75M in federal emergency funding for college students. The Edquity app employs an evidence-based decisioning framework that prioritizes funding to those most in need and connects individuals to local resources.
“Cash transfers are one of the most effective tools in promoting financial stability, and through our work we’ve seen how the rapid and equitable distribution of emergency funds can have a lasting impact on recipients,” said David Helene, founder and chief executive officer of Edquity. “We are proud to be partnering with ServeMinnesota to support their AmeriCorps members and advance their mission to catalyze positive social change centered around service.”
ServeMinnesota is contacting AmeriCorps members this week to introduce the emergency funds. All eligible members can apply for funds using the Edquity app.
ServeMinnesota creates positive social change by deploying the people power of AmeriCorps to translate research into on-the-ground implementation. Each year, thousands of individuals commit to transformative service opportunities focused on improving the lives of Minnesotans through education, affordable housing, employment, the environment, addiction recovery and response to the COVID-19 crisis. Two of its innovative strategic initiatives, Minnesota Reading Corps and Minnesota Math Corps, demonstrate speed to implementation in their work to close the achievement gap and help struggling students become successful learners. By leveraging federal dollars, building strong community partnerships, and continually improving programs, ServeMinnesota ensures national service is positioned to make meaningful contributions to our state. For more information, visit www.serveminnesota.org.
Edquity is dedicated to reducing basic needs insecurity through technology-enabled solutions that increase access, capacity, and equitable distribution of funds. We partner with colleges, universities, foundations, government agencies, and researchers to improve the administration of emergency aid and other basic needs programs. Our methodology harnesses the collective power of sociology, behavioral science, and technology to address common pitfalls, including racial bias, inefficiency, compliance risk, and lack of transparency and monitoring. Our work is proven to increase student persistence and completion and we are funded by leading postsecondary impact investors including the Lumina Foundation, ECMC Foundation, the Michael and Susan Dell Foundation, the Kresge Foundation, and the Bill and Melinda Gates Foundation. Learn more at Edquity.co.
About the Schultz Family Foundation
The Schultz Family Foundation, established in 1996 by Sheri and Howard Schultz, former ceo and chairman emeritus of Starbucks, creates pathways of opportunity for populations facing barriers to success, focusing on youth transitioning to adulthood and marginalized populations, including Black, Indigenous, and People of Color. By investing in scalable solutions and partnerships in communities across the country, the Foundation aims to help tackle the barriers and roadblocks that prevent individuals from reaching their full potential and, in doing so, strengthen our communities and our nation. For more information about the Foundation and its work: schultzfamilyfoundation.org.
About PNC Bank
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.