Prudential Foundation Board approves more than $3.5 million in grants for education, arts & civic infrastructure, and economic development initiatives

NEWARK, N.J.--(BUSINESS WIRE)--The Board of Trustees of The Prudential Foundation recently approved $3.575 million in grants to nonprofit organizations dedicated to quality public education, enhancing community-based economic development, and sustaining livable communities.

The grants include:

• $700,000 over two years to New Leaders for New Schools in New York City for general operating support and to help expand the program’s regional work in Newark. NLNS promotes high academic achievement by attracting, preparing and supporting the next generation of leaders in urban public schools across the country.
• $300,000 over two years to Teach for America in New York City to support the School Leadership Initiative and increase the number of alumni who enter school leadership positions in low-income communities. Teach for America enlists the nation’s most promising future leaders in the movement to eliminate educational inequality.
• $500,000 over two years to Public Education Network in Washington, D.C. to support the implementation of a new strategic plan. PEN mobilizes resources for quality public education for all children through a national constituency of local education funds and individuals.
• $875,000 to Prudential Youth Development Initiative in Newark, N.J. to strengthen the capacity of four key youth development organizations in Newark – Aspira Inc. of New Jersey ($250,000), Boys and Girls Clubs of Newark ($300,000), Unified Vailsburg Service Organization ($250,000), and Youth Development Clinic ($75,000) – that address the need for quality out-of-school time opportunities for middle- and high school-aged youth.
• $400,000 over two years to YouthBuild Network to support its mission to encourage disengaged and unemployed young adults to rebuild their communities and commit themselves to work, education, responsibility and family.
• $300,000 over three years to Living Cities in New York City to support revitalization strategies that address housing and business development, asset building, education and health care. Living Cities designs, tests, evaluates and models comprehensive investment strategies that leverage private, philanthropic and public sector investment resources to build and sustain vital urban neighborhoods that are healthy for the people who reside there.
• $500,000 over two years to Trust for Public Land in Morristown, N.J. to develop Newark Riverfront Park, along the Passaic River, as part of its Newark City Spaces Program. TPL conserves land as parks, gardens and other natural places for people, ensuring livable communities for future generations.

Between January 1 and May 15 of this year, The Prudential Foundation also has awarded 69 other grants to non-profit organizations totaling $2,737,350, most notably $500,000 to New Jersey Performing Arts Center to complete an arts education strategic plan that will strengthen its capacity to deliver high quality arts education programs to youth in and around Newark; and $250,000 in general operating support to Achieve, Inc., an independent bipartisan education reform organization based in Washington, D.C., to help the organization develop end of high school standards in English and math.

Other 2010 grant recipients include Alvin Ailey Dance Foundation, Inc.; AIDS Resource Foundation for Children; FOCUS Hispanic Center for Community Development; Local Initiatives Support Corporation; Rutgers University Foundation, Center for Nonprofit and Philanthropic Leadership; YouthBuild International Brazil; National Museum of African American History and Culture; Kids Corporation II; and National Summer Learning Association.

The Prudential Foundation is a not-for-profit corporation supported by The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. To promote sustainable communities and improve social outcomes for community residents, The Prudential Foundation focuses its grant making strategy in the areas of education, economic development and arts and civic infrastructure. In addition, the Foundation also supports the community engagement efforts of Prudential employees through Matching Gifts and other special programs that recognize their volunteer efforts.

The Prudential Foundation is a unit of Prudential’s Community Resources Department, which also includes the Social Investment Program, which originates and manages socially beneficial investments; Local Initiatives, which coordinates employee volunteerism and fosters community outreach; and Business Diversity Outreach, which facilitates diverse market development and outreach efforts for Prudential businesses.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $690 billion of assets under management as of June 30, 2010, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.