Singer Usher’s nonprofit—Usher’s New Look—is on a mission to introduce youth to the different facets of financial literacy, and the organization will be able to advance its efforts thanks to a major boost. The Truist Foundation has awarded the nonprofit with a $500,000 endowment.
Founded over two decades ago, the music artist’s organization has been dedicated to ensuring youth from underserved communities have access to educational resources and support so they can cultivate a foundation for success. The nonprofit offers an array of programs that sit at the intersection of education and civic engagement and are designed to inspire the next generation of leaders. The grant will go towards UNL’s high school leadership program which encompasses financial literacy workshops. The initiative was launched to introduce teenagers to the importance of money management skills so they can feel empowered to break generational cycles of poverty. The program features immersive courses that cover credit and debt, how to budget and investing.
Careshia Moore, who serves as President and CEO of UNL, says the endowment will be instrumental in helping youth living in impoverished communities change the trajectory of their lives. “Breaking the cycle of poverty and debt is tantamount to the future success of young people, particularly in these challenging times where we see that there are currently 16 million children living in poverty today,” she said in a statement. “This is, therefore, a proud moment for Usher’s New Look, and we are so very grateful to Truist Foundation for this transformational grant that will enable us to further our mission and touch the lives of hundreds of young people, helping them prepare for their futures while uplifting themselves and their communities at the same time.” Lynette Bell, President of the Truist Foundation, added UNL and Truist have a shared purpose of inspiring and building better lives and communities. To date, the Truist Foundation has donated $1.5 million to the nonprofit.
Several individuals have created initiatives focused on financial literacy. Businessman and philanthropist Robert F. Smith teamed up with the digital money management company Goalsetter to equip Black and Latinx youth with the tools needed to cultivate generational wealth.