Nonprofits Receiving Funding as Part of $25 Million Investment, with More Planned in Future Funding Rounds
BUFFALO, N.Y. , May 2, 2023 -- The M&T Charitable Foundation, the philanthropic arm of M&T Bank (NYSE: MTB), today announced Amplify Fund grant recipients in New England and Metro New York, totaling over $11.8M to 105 non-profit organizations across the former People's United footprint, with some payments committed over a two- or three-year period. Funding was focused on equity and environmental initiatives, mission-driven and capacity-building work, community and tenant organizing, and financial empowerment and education for individuals and small businesses.
First announced in May 2022, the Amplify Fund is a one-time supplemental charitable program to provide further support to communities throughout New England and New York to benefit low- and moderate-income communities and underrepresented populations using a racial equity and justice lens.
Trust for Public Land (TPL), a New England not-for-profit environmental organization, received funding for its "Parks for People in Bridgeport and Boston" from M&T Bank. "Communities across New England are lacking in quality, close-to-home park access. Many residents are at greater risk from challenges brought on by climate change. TPL is committed to addressing this need through our work in Bridgeport and Boston," said Walker Holmes, AVP and Connecticut State Director for Trust for Public Land. "We're grateful for M&T for their support of environmental justice and building healthier communities through connection to the outdoors."
The New England and Metro New York Amplify Fund grants were selected through a Request for Proposal (RFP) process. Phase one consisted of four RFPs, each available to specific geographic regions across the Amplify Fund footprint. Priority was given to applicants that most clearly articulated the needs to be addressed, the strategies to be employed in response to those needs, and a plan to demonstrate the effectiveness of those strategies.
"The Amplify Fund exemplifies our priorities of investing in underrepresented communities and empowering our neighbors to achieve their dreams," said Dominique Goss, Executive Director of the M&T Charitable Foundation. "It is important to us to approach this initiative through an equitable lens; and M&T is so proud to support the incredible organizations doing critical on-the-ground work that truly makes a difference for so many people."
The areas of focus for the Amplify Fund align with M&T's existing priorities, including community development and innovation, in addition to the previously announced Community Growth Plan and Community Reinvestment Act (CRA) eligibility standards.
The Amplify Fund is designed to drive sustainable impact that is equitable, accessible, and responsive to local needs. Regional representatives of the bank will continue to meet with local leaders to help inform the strategic direction for the future of the Fund's giving efforts in 2023 and beyond.
For more information on the Amplify Fund, including the full list of grant recipients in New England and Metro New York, please visit the Amplify Fund website.
About the M&T Charitable Foundation
The M&T Charitable Foundation, the philanthropic arm of M&T Bank, is a 501(c)(3) not-for-profit charitable organization founded in 1993 and funded by M&T Bank. The M&T Charitable Foundation awards over $40 million in grants per year to thousands of nonprofit organizations focused on improving the quality of life in the areas the bank serves.
About M&T Bank
M&T is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
Media Contacts:
National Media, Trade Publications and New England:
Maya Dillon
(646)735-1958
mdillon@wilmingtontrust.com
New York Metro (NYC, Long Island and New Jersey):
David Samberg
(201) 368-4515
dsamberg@mtb.com
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