Continued support for Kollab Youth to focus on increasing youth of color enrollment, building partnerships
LOS ANGELES, CA, USA, December 2, 2022 /EINPresswire.com/ — Today, Wells Fargo & Company and Academy Award-winning actress and Wells Fargo Active Cash® Card spokesperson, Regina King, announced an additional $1 million donation to Kollab Youth in an effort to inspire more youth of color to join the initiative and strive toward positive financial health. Wells Fargo and King also donated $1 million to the organization in September 2021.
Established in 2019, Kollab Youth’s program serves to mentor underserved youth in Los Angeles, leading them to high-demand career opportunities and financial health. Following last year’s donation, Kollab Youth’s participation among Black youth increased by 20 percent, while overall participation nearly doubled. With today’s contribution, Kollab Youth hopes to build on that momentum by continuing to increase participation among youth of color and cultivate partnerships.
“I’m born and bred in Los Angeles, and I’m drawn to programs like Kollab Youth that address the need to identify youth’s potential – particularly Black youth – and that encourage financial health, and exposure to family-sustaining professional careers,” said King. “I’m excited to work with Wells Fargo again with an additional $1 million donation to Kollab Youth to continue the momentum for equitable exposure to different career opportunities for kids who may never have considered or believed those pathways were within reach.”
Kollab Youth brings together public and private partnerships to introduce program participants to career prospects in growing industries, while working with them one-on-one to identify their personal skills and passions. Participants have access to the largest employers in Los Angeles, in addition to foundational financial literacy education, so while participants earn their first paychecks, they begin to understand the value of a dollar earned.
“We are extremely excited that Wells Fargo and Regina King have decided to continue this significant investment to make an even larger impact on our under resourced and underinvested youth in Los Angeles County. This funding will help with outreach to secure more participants, especially in predominantly Black communities,” said Mary Hewitt, CEO of Kollab Youth. “Together, we will ensure that every student has equal access to experiences that will help them reach their full potential and be prepared for high impact, high growth careers of the future. Our approach of including the parents and guardians expands the support group to empower our youth, while also positively impacting the ecosystems of their communities.”
Since the Kollab Youth program pilot, over 400 youth have participated, with many now obtaining internships with Kollab Youth partners or enrolling in a college program related to their career interests. Participants also earn high school credit for completing the program. Since June 2022, nearly 30 percent of participants had obtained a scholarship, with an additionally 21 percent finding jobs, internships or job shadowing opportunities.
“After seeing the impact of last year’s donation, we wanted to help Kollab Youth continue to build on that success and support more underserved youth in the Los Angeles community,” said Krista Phillips, head of Branded Cards and Marketing at Wells Fargo. “Along with our Active Cash Card partner, Regina King, we’re excited to continue our work with Kollab Youth, because together we believe in the program’s mission of providing career opportunities that kids may never have considered or believed were within reach, while also educating them on how to achieve financial health.”
About The Kollab Youth Workforce Development Program
The Kollab Youth Workforce Development Program is a 501(c)3 public charity organization was created for middle and high school students. Kollab program helps them explore career opportunities in business, STEM and other emerging 21st century careers that are high growth and high wage jobs. Kollab Youth receive mentorship from industry experts and earn resume-worthy work experience through paid apprenticeships and internships connecting them with the future workforce and preparing them to compete in tomorrow’s workplace. Kollab Youth ensures our Los Angeles County youth have the skills and knowledge they need to contribute to the global economy. Cultivating resourcefulness as a skill prepares young people for jobs that may not yet exist; in fact, the more resourceful they are, the more likely the next generation will be to create their own jobs – and companies that will create jobs for others. Mentorship is a significant part of the personal and professional journey for our youth.
For more information, visit: www.kollabyouth.org.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo