Funding is Part of M&T's $25 Million Amplify Fund Commitment to Address Racial Equity and Social Justice Issues

BUFFALO, N.Y., Feb. 13, 2024 -- The M&T Charitable Foundation, the philanthropic arm of M&T Bank (NYSE: MTB), today announced $8.2 million in donations to 68 nonprofit organizations across New England and Long Island and Rockland County New York. The announcement is the second round of giving as part of the company's Amplify Fund grant, a commitment by M&T Bank to work with groups dedicated to addressing social issues through a racial equity and social justice lens in low- and moderate- income communities and underrepresented populations.

First announced in May 2022, the Amplify Fund is a $25 million philanthropic investment as part of the merger between People's United Bank and M&T Bank. Powered by the M&T Charitable Foundation, the Amplify Fund is a one-time supplemental charitable giving program to provide further support in the legacy People's United communities. The first round of funding totaled more than $11.8 million to 105 nonprofit organizations and 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.

Grantees in this second phase of funding include organizations that provide a host of direct services and opportunities for the individuals and families they serve, including increasing access to affordable housing, childcare, healthcare, job training, and more. A full list of grantees can be found here.

"At M&T, addressing the institutionalized and systemic issues preventing disadvantaged communities from accessing opportunities and achieving long-term success is key to our mission as a community-focused bank," said Dominique Goss, Executive Director of the M&T Charitable Foundation. "We are proud to provide the Amplify Fund as a difference-making resource in the communities we serve and look forward to continuing our work to increase racial and economic equity throughout our footprint."

Phase II of the Amplify Fund focused on providing funding, for up to three years, to nonprofit collaboratives working together toward a common goal for solving a specific social issue, to help advance equity in the following key areas of focus:

• Family Stability: Affordable housing, food security, and access to quality and affordable childcare.
• Income & Wealth Equity: Employment, small business development, homeownership, and financial empowerment initiatives.
• Workforce Development: Education and training opportunities focused on upskilling and career pathways in high-growth sectors leading to economic prosperity.
• Health Equity: Access to quality and affordable healthcare, with a priority on youth mental health and women and infant health.

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 Fund's third and final round.

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.

STATEMENTS FROM GRANT RECIPIENTS

Family Centers, Inc. – Greenwich, Conn.
Family Centers works with 25 organizations to offer a holistic network of 26 health, education, and human service programs to address the challenges that more than 24,000 residents of lower Fairfield County face each year. Programming includes preschool and early education services, mental health, bereavement and family counseling, primary medical and dental services, vocational and self-sufficiency support, English language, and basic literacy education, and much more.

"We are grateful for this grant through the M&T Charitable Foundation, as it allows us to address an immediate need facing so many children and families in Stamford," said Leslie Sexer, Chief Program Officer for Family Centers. "Through our collaboration with the Stamford Youth Mental Health Alliance (YMHA), our Screening Stamford's Youth initiative will allow us to identify mental health issues and intervene before they reach a crisis point.  Leveraging Family Centers' holistic network of health, education, and human service programs – along with the relationships of our community partners – we will also connect families with the services they need to thrive." 

Stamford Youth Mental Health Alliance – Stamford, Conn.
The Stamford Youth Mental Health Alliance (YMHA) is a coordinated initiative, including the Stamford Public Schools, multiple service providers and the broader population, to spur a community-based awareness and response to the mental health crisis among youth with an emphasis on universal promotion of wellness, prevention, early intervention, and targeted services/care coordination dovetailed into the evolving mental health infrastructure.

"The YMHA is committed to addressing behavioral health challenges that complicate healthy youth development through prevention and early intervention," said Vin Tufo, YMHA co-facilitator. "Our network of 30 youth-serving organizations is committed to supporting the Screening Stamford's Youth initiative, helping to connect children and their families with needed resources and opportunities."

Rhino Foods Foundation – Burlington, VT
The mission of the Rhino Foods Foundation (RFF) is to spread innovative workplace practices that champion employee financial stability and make good business sense. The Rhino Foods Foundation was formed to advance and spread employee-centered workplace practices, inspire business leaders to think more deeply about their employee engagement strategies, and empower professionals across the country with well-developed programs and tools.

"We are so honored to receive this transformational support from the M&T Charitable Foundation. We've had tremendous success spreading the Income Advance program, which helps employees gain access to emergency loans and improve their credit, to more than 90 businesses in Vermont," said Ted Castle, RFF's Board President. "The Amplify grant will allow us to grow our team and our capacity to help businesses adopt the Income Advance program throughout the northeast."

About 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 nearly $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 Bank Corporation 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. For more information on M&T Bank, visit www.mtb.com.

Media Contacts: 
New England
Christopher Loh
(617) 581-2676
cloh@mtb.com

New York Metro (NYC, Long Island and New Jersey):
David Samberg
(201) 368-4515
dsamberg@mtb.com

National Media:
Frank Lentini
(929) 651-0447
flentini@mtb.com

Equal Housing Lender. © 2024 M&T Bank. Member FDIC. All rights reserved.