News Release Details
Financial Press Release
PNC Extends Early Education Initiative To $500 Million
"The workplace of tomorrow will require skills and knowledge we can't begin to imagine today. As a
"Fifteen years in and we know the best is yet to come thanks to the support of our employees, along with the terrific collaborations we've embarked on with
In addition to the increased funding, details of the year-long celebration include:
- Launching the "
Great Big Book Drive." For the first time, PNC invites customers and other community members to join us in donating books and playing a role in helping children succeed. Books can be dropped off at PNC branches now through April 30. The books will be distributed to early learning organizations across PNC communities.
- Extending the alliance with DonorsChoose.org. PNC is extending its alliance with DonorsChoose.org, an online charity that connects individual donors with classrooms in need, by awarding another
$5 milliongrant from the PNC Foundationto help preschool teachers obtain high-quality resources and learning experiences for their students. From now through May 31, the PNC Foundationwill match, dollar-for-dollar, donations that support pre-K and Head Startteachers' project requests in the PNC footprint listed on DonorsChoose.org, subject to restrictions and a maximum dollar amount. For specific guidelines on the match component, visit DonorsChoose.org. In addition, approximately 52,000 PNC employees will receive a $25gift card funded by the PNC Foundation, which allows them to award the funds to a DonorsChoose.org project of their choice. To date, the PNC/DonorsChoose.org alliance has benefitted more than 630,000 pre-K and Head Startstudents.
$6 millionin focused grants. Each PNC regional market will receive up to $150,000in incremental grants from the PNC Foundation. These grants are designed to support the specific needs of learners from birth to 3-years-old; community-based educational experiences for families with young children; or professional learning and skill-development for current or future early childhood educators.
- Doubling Grants for Great Hours. PNC provides employees with 40 hours of paid time off each year for Grow Up Great volunteerism. Employees could previously earn grant credits up to
$3,000each year to be awarded to a partner early learning organization. For this year, PNC is doubling that amount up to $6,000. To date, employees' volunteerism has resulted in $6.6 millionin grants.
Since 2004, Grow Up Great has focused on helping to prepare children, especially underserved children, from birth to age 5, for success in school and life. The initiative goes beyond the classroom, supporting learning and social-emotional development of children at home and across communities by also providing free resources and tools to parents, guardians, caregivers and neighborhood organizations.
Access to high-quality early childhood education and resources is critical. Research shows that quality early education reduces dropout rates, poverty and crime while improving the skills of tomorrow's workforce.
Highlights of PNC Grow Up Great's impact over the last 15 years include:
- Awarded nearly
$160 millionin grants through the PNC Foundationto support young children in the communities we serve.
- Encouraged families, caregivers and teachers to inspire a love of learning through educational resources and experiences for more than five million children.
- Demonstrated leadership by leveraging our relationships with the business community, policymakers and other key stakeholders to elevate discussions about the importance of access to high-quality early childhood education.
- Donated employee time, skills and expertise in support of the mission. Through Grow Up Great, PNC employees have contributed more than 850,000 volunteer hours and 1.2 million items for use in classrooms and the personal well-being of young children.
Throughout the year, PNC will continue the anniversary celebration with additional initiatives and events continuing to support the efforts of early childhood education champions – the teachers, experts, caregivers and parents committed to building a foundation for success.
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