Deutsche Bank Americas Foundation Launches College Ready Communities Initiative, Selects Four NYC Partnerships

College Readiness Program Supported by the Bill & Melinda Gates Foundation; Community-based Awardees from Central Brooklyn, Central Harlem, Flushing, Queens and South Bronx

NEW YORK--(BUSINESS WIRE)--The Deutsche Bank Americas Foundation, the philanthropic arm of Deutsche Bank in the United States, today announced the grant recipients for its new College Ready Communities Initiative, which is designed to connect community revitalization with education reform efforts in low-income neighborhoods in New York City. The two-year effort, funded through a $2 million grant from the Bill & Melinda Gates Foundation with matching funds through the Deutsche Bank Foundation, will create collaborative projects among community based organizations that are working to improve middle and high school educational outcomes and support college readiness initiatives.

In announcing the grant recipients, Gary Hattem, President of the Deutsche Bank Americas Foundation, said, “There is too much talent going to waste in our neighborhoods. The same entrepreneurial spirit of local residents and organizations that led to the revitalization of so many of our communities now needs to be put to work to build a culture of academic success. College Ready Communities harnesses these unique capabilities in places where this shared intent will be given a chance to prove itself.”

The awardees were announced at an event hosted by the Deutsche Bank Americas Foundation at the Thurgood Marshall Academy for Learning and Social Change, a school launched by the Abyssinian Development Corporation.

“Fostering a ‘college going culture’ is not something that ends at the schoolhouse door. College Ready Communities Initiative gives community organizations resources to help us work together more effectively to reach more young people and families. This is critical in times when the need persists and every dollar needs to stretch even further,” said Rev. Dr. Calvin O. Butts, III, Pastor of the Abyssinian Baptist Church and Chairman and founder of the Abyssinian Development Corporation.

The partnerships are as follows:

• Cypress Hills Local Development Corporation/Make the Road New York/Urban Youth Collaborative
• Abyssinian Development Corporation/The Brotherhood Sister Sol/Coalition for Educational Justice
• Internationals Network for Public Schools /The South Bronx Overall Economic Development Corporation/Make the Road New York
• Asian Americans For Equality/Coalition for Asian-American Children and Families

About Deutsche Bank

Deutsche Bank (NYSE: DB) is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,896 employees in 72 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

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Deutsche Bank Americas Foundation

The Deutsche Bank Americas Foundation administers the philanthropic activities of Deutsche Bank within the United States, Latin America and Canada. Together, the Bank's Community Development Group and Foundation carry out the firm's corporate citizenship commitments through a program of loans, investments and grants. Based in New York City, where the majority of grants are awarded, the Foundation supports nonprofit organizations that concentrate on community development, education, and the arts.