April, 2011Through its offices in 11 cities across the country, Deloitte has awarded its first $3 million in Future Fund cash donations to 65 local nonprofits. Deloitte established the Future Fund to deepen its impact on college enrollment and success rates for low income students in local markets nationwide. A total of 18 Deloitte offices from around the country competed for a portion of the Future Fund dollars to distribute to local nonprofits that are proven leaders in the education arena. Among nonprofits that will benefit are local College Summit, City Year and United Way organizations, as well as individual schools and smaller organizations known for achieving results.
The Future Fund is a key component of Their Future is Our Future, Deloitte's multi-million dollar national community involvement initiative that focuses on building a college-going culture in low-income high schools and making college attendance the norm in America. Since 2007, Deloitte has provided an integrated mix of pro bono, financial support, leadership and other assistance to select education-focused organizations. Deloitte is a national leading sponsor of College Summit and City Year and is a national corporate leader of United Way.
"We believe that education is everyone's business and there are many ways in which corporate America can foster improvement in our education system," said Barry Salzberg, chief executive officer, Deloitte LLP. "Deloitte's Future Fund equips our local offices with the resources they need to carry out our national commitment to lead on education in their communities."
Deloitte's regional community involvement leaders submitted detailed written applications and presented strategic plans, showing how funding requests would make an impact on the issue. Each of the 11 winning offices will receive awards ranging from $79,500 to $500,000 to execute their plans. The cash disbursements are based on the requests that were submitted.
Market winners and their cash awards are as follows:
"This money will offer a tremendous boost to the great work our offices in 11 major markets are already doing in the education space and enables them to lead on this issue at the local level," explained Evan Hochberg, national leader of Deloitte's community involvement initiative. "Further, the Future Fund is designed to build on the strength of our overall approach to community involvement. These strategic cash donations will complement innovative skilled volunteer projects, pro bono engagement and leadership support at the local level."
Future Fund donations will fund a wide variety of initiatives intended to help get more low- income students to and through college, including:
For more information about all of Deloitte's national community involvement programs including its broader $50 million commitment in pro bono services to nonprofits, visit Deloitte.com.
Their Future is Our Future is part of Deloitte21, a global initiative that encourages Deloitte Touche Tohmatsu Limited (DTTL) member firms to engage in local programs that drive innovations in education and skill development for underserved young people, to help them succeed in the 21st century economy.
About Deloitte Community Involvement
Deloitte helps people and communities thrive in three ways:
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.