Morgan Stanley Announces $2 Million Grant to Feeding America ®

Rhea-AI Summary

Morgan Stanley Foundation announced a donation of $2.12 million to Feeding America, including a $1.94 million grant to 28 food banks across the U.S. The funding allows these banks to implement a choice model for food distribution, catering to family preferences while adhering to safety protocols due to COVID-19. With approximately 42 million people, including 13 million children, projected to face hunger this year, the initiative aims to improve access to healthier food options. Over the past decade, Morgan Stanley has donated over $38 million to the Feeding America network.

Positive

• Donation of $2.12 million to Feeding America.
• Grant of $1.94 million to 28 food banks, enhancing food distribution flexibility.
• Building on a long-standing partnership, leading to over $38 million donated in the last decade.

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• None.

Morgan Stanley Foundation today announced a donation of $2.12 million to Feeding America®, including a $1.94 million grant to 28 member food banks across the United States to provide families with children the ability to choose from available foods or food boxes at pantries or program sites. The funds will provide a unique opportunity for local food banks to incorporate elements of choice to food distributions, while still maintaining safety protocols due to the coronavirus pandemic. The choice model provides more healthy options and ensures families have access to foods aligned with their preferences and dietary requirements.

Feeding America projects that approximately 42 million people, including 13 million children, could face hunger this year in the U.S. due to COVID-19. During the first twelve months of the pandemic, Feeding America member food banks saw an estimated 55 percent increase in the number of people seeking food assistance. In the early days of the pandemic, roughly 4 in 10 people visiting food banks were seeking help for the first time.

"For 60 years, the Morgan Stanley Foundation has been dedicated to ensuring children received the healthy start to life they deserve – and ensuring they have access to healthy and nutritious food is a crucial part of that commitment,” said Joan Steinberg, Global Head of Philanthropy at Morgan Stanley. “Given the challenges that we’ve seen exacerbated by the pandemic over the past year, we are pleased to build upon our decade long partnership with Feeding America to help fight hunger through this impactful choice model in the communities where we live and work.”

Morgan Stanley has a long-standing commitment to helping communities facing hunger and has donated more than $38 million to the Feeding America network of food banks in the last decade. This is the second grant in a four-year commitment to optimize flexibility for food banks through different choice models and ultimately provide healthier meals to more children and families for greater outcomes.

The following Feeding America member food banks are recipients of the latest Morgan Stanley Foundation grants:

Akron-Canton Regional Foodbank		Akron, OH
Capital Area Food Bank		Washington, DC
Care and Share Food Bank		Colorado Springs, CO
Central California Food Bank		Fresno, CA
Community Foodbank of New Jersey		Hillside, NJ
East Texas Food Bank		Tyler, TX
Feeding Tampa Bay		Tampa, FL
FeedMore Western New York, Inc.		Buffalo, NY
Food Bank For New York City		New York, NY
Food Bank of Delaware		Newark, DE
Food Bank of the Rio Grande Valley, Inc.		Pharr, TX
Food Finders Food Bank Inc.		Lafayette, IN
Foodlink, Inc.		Rochester, NY
Freestore Foodbank		Cincinnati, OH
Good Shepherd Food Bank		Auburn, ME
Greater Cleveland Food Bank, Inc.		Cleveland, OH
Inter-Faith Food Shuttle		Raleigh, NC
Lowcountry Food Bank		Charleston, SC
Redwood Empire Food Bank		Santa Rosa, CA
Second Harvest Food Bank of Central Florida		Orlando, FL
Second Harvest Food Bank of East Central Indiana, Inc.		Muncie, IN
Second Harvest Food Bank of Greater New Orleans and Acadiana		New Orleans, LA
Second Harvest Food Bank of Northeast Tennessee		Kingsport, TN
Second Harvest Foodbank of Clark, Champaign, & Logan Counties		Springfield, OH
Second Harvest of the Big Bend, Inc.		Tallahassee, FL
South Coast Food Share		Coos Bay, OR
Southeast Texas Food Bank		Beaumont, TX
St. Louis Area Foodbank		Bridgeton, MO

To learn more about Morgan Stanley’s giving back efforts, please see here.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210617005701/en/

FAQ

What is the recent donation amount made by Morgan Stanley Foundation to Feeding America?

Morgan Stanley Foundation announced a donation of $2.12 million to Feeding America.

How much of the donation is allocated to the food banks?

A grant of $1.94 million is allocated to 28 food banks across the United States.

What is the purpose of the Morgan Stanley Foundation's donation?

The donation aims to implement a choice model for food distribution, providing families with healthier food options.

How many people are projected to face hunger in the U.S. this year according to Feeding America?

Approximately 42 million people, including 13 million children, are projected to face hunger this year.