SPRINGFIELD, Ill.--(BUSINESS WIRE)--Horace Mann Educators Corporation (NYSE:HMN) today announced $105,000 in grant funds from Horace Mann and the Federal Home Loan Bank of Chicago (FHLBank Chicago) Targeted Impact Fund will be distributed to four organizations focused on closing student opportunity gaps: the Boys and Girls Club of Central Illinois, Springfield Urban League, Compass for Kids and The Matthew Project.
Horace Mann's $45,000 community donation was supported by an additional $60,000 from FHLBank Chicago.
“Every student should have the opportunity to reach their full potential, and that has become more challenging for many during the COVID-19 pandemic," said Marita Zuraitis, Horace Mann President and CEO. "We're proud to support these organizations addressing opportunity inequities in our community by providing safe remote learning spaces with reliable Internet access, additional learning opportunities for students falling behind, and basic needs like food and housing assistance for families."
The Boys and Girls Club of Central Illinois and the Springfield Urban League will each receive $35,000, while Compass for Kids and The Matthew Project will each receive $17,500. These grants allow the organizations to assist nearly 500 additional low-to-moderate income families with targeted educational support.
"Safe and supervised remote learning sites are critical when parents are working outside the home to provide for their family," said Tiffany Mathis, Executive Director of the Boys and Girls Club of Central Illinois. "For other families, a challenge to supporting learners is reliable Internet access, which we can now provide to 200 students with this grant."
The Matthew Project, a program that provides clothing, food, tutoring and mentoring to homeless Springfield Public Schools students, will partner with the Boys and Girls Club to expand existing remote learning opportunities for the Matthew Project children as well as provide food assistance. Compass for Kids will expand its Virtual Club Compass program for at-risk students in Springfield schools. It offers social-emotional lessons and support, enrichment activities, a book club and meals for students.
"In addition to providing digital learning supports, the Springfield Urban League will also use this grant for emergency assistance for families facing uncertain circumstances with housing and overall financial stability," said Springfield Urban League President Nina Harris. "We have seen so many more families in need at this time, and this grant will really help keep them afloat."
“FHLBank Chicago created the Targeted Impact Fund to help those in our members' communities hardest hit by the pandemic and to promote racial equity," said Katie Naftzger, Vice President, Community Investment Officer, FHLBank Chicago. "We're proud that with this member grant, hundreds more Springfield students in need will have stronger educational and social support."
Horace Mann has been a member of FHLBank Chicago since 2013.
About Horace Mann
Horace Mann is the largest financial services company focused on providing America's educators and school employees with insurance and retirement solutions. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Ill. For more information, visit horacemann.com.
About Federal Home Loan Bank of Chicago
The mission of the Federal Home Loan Bank of Chicago is to partner with our member institutions in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities. We are one of 11 Federal Home Loan Banks chartered by the U.S. Congress in 1932 to promote homeownership. Our members include banks, thrifts, credit unions, insurance companies, and community development financial institutions throughout our district.
The Federal Home Loan Bank of Chicago’s Targeted Impact Fund provides our member institutions with grants to support relief efforts for populations hardest-hit by the COVID-19 pandemic including Black, Latino, Native American, elderly, rural, and low- and moderate-income communities, and to help promote equity and opportunity for these underserved populations. The Targeted Impact Fund opened on Monday, August 17, with funding extended through Tuesday, November 10. For more information visit fhlbc.com.