Envestnet Cares Partners with Project HOME to Help Fight Poverty & Homelessness

Rhea-AI Summary

Envestnet, Inc. (NYSE: ENV) has partnered with Philadelphia-based nonprofit Project HOME as its Signature Impact Partner through its Charitable Giving Committee, Envestnet Cares. The partnership involves a $250,000 commitment, given as $50,000 annually for five years, aimed at supporting education and families in need. This initiative aligns with Envestnet's mission of promoting financial wellness. The collaboration will include volunteer support and mentorship, enhancing Project HOME's efforts to combat homelessness and poverty.

Positive

• Envestnet committed $250,000 to Project HOME, supporting education and workforce development in low-income communities.
• The partnership provides volunteer opportunities for Envestnet employees, leveraging their skills for community benefit.

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• None.

CHICAGO, Nov. 19, 2020 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) announced today that its Charitable Giving Committee (Envestnet Cares) has chosen Philadelphia-based nonprofit Project HOME as its Signature Impact Partner.

In selecting Project HOME (https://www.projecthome.org) for this long-term initiative, Envestnet considered criteria related to its philanthropic mission to give back to its communities and help create more meaningful and lasting impact through targeted efforts aimed at supporting education and families in need. Under the terms of the partnership, Envestnet will provide both volunteer and financial support, including a pledge of $250,000—or $50,000 distributed annually over the next five years—as well as a mentoring relationship with Project HOME's Education and Workforce Development team.

"Envestnet believes in serving as a force for social good in our communities," said Bill Crager, Co-Founder and CEO of Envestnet. "Project HOME reflects Envestnet's core values, specifically its goal to make financial wellness a reality for more people. And Project HOME's commitment to helping those less fortunate in North Philadelphia is especially meaningful for the employees in our Berwyn office. In addition to the financial investment, we see tremendous opportunity for furthering Project HOME's efforts through volunteering, and leveraging our employees' digital and financial expertise."

The mission of Project HOME is to empower adults, children, and families to break the cycle of homelessness and poverty, to alleviate the underlying causes of poverty, and to enable such persons to attain their fullest potential as individuals and as members of the broader society. Its Education and Workforce Development initiative includes the following educational programs:

• K-12 Afterschool Programs, which integrate technology with literacy, art, and science, providing opportunities for students in North Philadelphia to explore new interests, cultivate talents, and prepare for college or careers.
• The Adult Education and Employment Program, which includes GED classes, professional certifications, and job fairs.
• The Social Enterprise Program, which empowers residents to build job skills at small businesses, providing low-barrier employment and supplemental income.

"As a result of the pandemic, the need for our work has intensified," said Sister Mary Scullion, Co-Founder and Executive Director of Project HOME. "In light of this, we are certain that our partnership with Envestnet will have a major impact for so many in our community who are in need. Project HOME has always believed that the best way to fight poverty and put an end to homelessness is through providing access to affordable housing, employment, healthcare, and education. We look forward to working with Envestnet to do just that in the years to come."

About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 103,000 advisors across more than 5,100 companies—including 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies—leverage the Envestnet platform to grow their businesses and client relationships.

For more information on Envestnet, please visit www.envestnet.com, subscribe to our blog, and follow us on Twitter (@ENVintel) and LinkedIn.

About Project HOME
Since 1989, Project HOME has helped thousands of people break the cycle of homelessness and poverty by providing a continuum of care that includes street outreach, supportive housing and comprehensive services that focus on health care, education and employment through both adult and youth education and enrichment programs at the Honickman Learning Center and Comcast Technology Labs and community-based health care services at the Stephen Klein Wellness Center. Project HOME and its partners have pledged to end chronic street homelessness in Philadelphia.

Media Contact
Dana Taormina
JConnelly for Envestnet
973.647.4626
envestnetpr@jconnelly.com

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SOURCE Envestnet, Inc.

FAQ

What is the partnership between Envestnet and Project HOME?

Envestnet has partnered with Project HOME to provide $250,000 over five years to support education and workforce development efforts.

How much financial support is Envestnet providing to Project HOME?

Envestnet is providing a total of $250,000, distributed as $50,000 annually over five years.

What is the mission of Project HOME in relation to Envestnet's goals?

Project HOME aims to fight homelessness and poverty, aligning with Envestnet's goal of promoting financial wellness.

When was the partnership between Envestnet and Project HOME announced?

The partnership was announced on November 19, 2020.

What is Envestnet's stock symbol?

Envestnet's stock symbol is ENV.