Prudential Foundation Announces $1.25 Million in Grants

The Prudential Foundation has announced grants totaling $1.25 million to nonprofit organizations working to address the needs of low-income families and at-risk children in Newark, New Jersey.

The awards will support efforts in the areas of community development, education reform, youth development, and financial empowerment services for the working poor. Grants include $400,000 over two years to the YouthBuild Newark, an alternative vocational school, to increase the number of students it serves and strengthen its organizational infrastructure; $300,000 over two years to the Local Initiatives Support Corporation to assess its Building Sustainable Communities initiative, which was designed to transform disadvantaged neighborhoods in Newark and several other cities around the country into appealing places to shop, play, and learn by improving access to jobs and social services; and $300,000 over two years to the Financial Clinic to expand a year-old Prudential-funded fellowship program that places fellows in Newark and empowers them to help community members achieve financial stability through financial education and planning services.

In addition, the foundation awarded $250,000 to the Newark Trust for Education for its Newark Model Schools Investment Fund, which supports new and innovative public school models in the region. The grant boosts to $1.5 million the total amount Prudential has contributed to the fund.

"The mission of the Prudential Foundation is to promote strong communities and improve the social outcomes in the places where we work and live," said Lata Reddy, the foundation's president. "We are pleased to continue our support of these four outstanding nonprofit organizations that are delivering holistic services to help our neighbors in Newark achieve brighter futures."