WOL Listen Live
WOL Featured Video
CLOSE
Young black woman with afro hairstyle.

Source: AlonzoDesign / Getty

An initiative designed to use financial literacy as an avenue to empower girls of color will be able to advance its efforts thanks to a contribution from Goldman Sachs. The investment banking firm has gifted The Future Economy Lab with a pivotal donation.

Launched by SecondMuse Capital and the Grantmakers for Girls of Color, the lab was cultivated to foster economic equity on a global scale. The $500,000 endowment from Goldman Sachs will support Black girls, femmes, and gender-expansive youth between the ages of 13 and 24 in conceptualizing and developing financial tools. The lab was created to address the ever-growing racial wealth gap and promote economic inclusivity through education.

Dr. Monique W. Morris, who serves as President and CEO of G4GC, says the lab will be instrumental in addressing socioeconomic inequities that curtail wealth building.

“We are thrilled to receive this investment for the Future Economy Lab, which is an opportunity to engage Black girls, femmes, and gender-expansive youth in the economic development and financial literacy efforts from which they have been historically marginalized while shifting the narrative about the capacity of our young people to be effective leaders in financial spaces,” she shared in a statement. “As our first significant financial industry partner in the lab, Goldman Sachs—through their mentorship and guidance to Black girls, femmes, and gender-expansive youth—will also expand the possibility of how philanthropy and the financial sector work together to co-create strategies for the economic wellness of our richly diverse Black communities.”

Goldman Sachs Foundation President Asahi Pompey added, “giving Black girls the opportunity to shape and contribute to the broader economy is a smart investment that will drive strong returns for generations to come.”

The investment is part of the company’s One Million Black Women initiative.

SEE ALSO:

Serena Williams Teams Up With Cash App To Underscore The Importance Of Money Management

Mastercard Invests In VC Firm For Women Of Color

The post Goldman Sachs Donates $500K To Youth Financial Literacy Initiative appeared first on NewsOne.

Goldman Sachs Donates $500K To Youth Financial Literacy Initiative  was originally published on newsone.com