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State Street Awards More than $1 Million to Education, Workforce Development and Sustainable Employment Programs

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State Street Corporation (NYSE:STT) today announced that in the third quarter of 2014, its Foundation made 22 grants totaling over $1 million dollars to support education, workforce development and sustainable employment programming at nonprofit organizations located in Quincy and Boston. The State Street Foundation is the charitable grant-making arm of State Street Corporation.

“Our investments in these programs help those in need to learn the skills necessary to support themselves and their families,” said Michael Scannell, senior vice president and head of State Street Foundation. “By increasing an individual’s earning potential and his or her chances of maintaining employment, we are directly contributing to the overall health and well-being of our local communities in Massachusetts and beyond.”

Adult Education and Employment

  • Thirteen grants totaling more than $600,000 support job placement and retention programs, secondary and post-secondary credential programs and English as a Secondary or Other Language (ESOL) programs. These grants focus on programs that provide training and services to help adults obtain and retain jobs with a determined career path.
  • A $150,000 grant was made to the New England Center for Arts & Technology (NECAT) for its culinary arts adult job-training program. NECAT has enrolled more than 100 adults since opening in 2013 and approximately 82 percent of those that have completed the culinary arts program have found full time employment.

Youth Education and Employability

  • Five grants totaling nearly $300,000 were made to academic achievement programs that provide targeted attendance, behavior and course performance interventions to keep students on track for high school graduation.
  • Four grants totaling $155,000 were made to support academic persistence and employment programs that help build basic job readiness skills along with education and career aspirations through a meaningful entry level job experience.
  • State Street continues to support Bottom Line and the Boston Private Industry Council, among other organizations, which identify at-risk students who may benefit from an enhanced educational framework to remain motivated to stay in school. These organizations use mentoring, employment opportunities, internships and other incentives to keep students engaged and on track for graduation.

In addition to NECAT, Bottom Line and the Boston Private Industry Council, other grantees receiving funding in the third quarter of 2014 are: American Red Cross of Massachusetts Bay, America Scores Boston, Asian American Civic Association, Boston Higher Education Resource Center, Career Collaborative, Community Economic Development Assistance Corporation, Community Work Services, East Boston Ecumenical Center, Education Pioneers, Jewish Vocational Services, LIFT-Boston, MathPower, Northeastern University’s Foundation Year, One Family Inc., Quincy Community Action Program, Quincy High School, Root Cause Institute and Zumix.

About State Street Corporation

State Street Corporation (NYSE:STT) is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $28.47 trillion in assets under custody and administration and $2.42 trillion* in assets under management as of September 30, 2014, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s web site at www.statestreet.com.

* Assets under management include the assets of the SPDR(R) Gold ETF (approximately $30 billion as of September 30, 2014), for which State Street Global Markets, LLC, an affiliate of SSgA, serves as the distribution agent.

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