Morgan Stanley Foundation Announces $8 Million Grant to Feeding America to Address Child Hunger

Rhea-AI Summary

Morgan Stanley (NYSE: MS) announced an $8 million grant to Feeding America, spread over four years, for programs addressing child hunger and improving food access among underserved populations. This brings Morgan Stanley's total commitment to over $50 million since 2009, helping deliver more than 356 million meals. This initiative includes expanding child hunger programs, such as mobile and school food pantries, BackPack programs, and SNAP assistance. It also focuses on equitable access by developing Operational Response Plans (ORPs) to target food insecurity barriers. The announcement coincides with Morgan Stanley's annual Global Volunteer Month, during which employees participate in various volunteer projects.

Positive

• Morgan Stanley committed $8 million over four years to address child hunger.
• The total funding from Morgan Stanley to Feeding America exceeds $50 million since 2009.
• Morgan Stanley's support has helped deliver more than 356 million meals.
• The grant will expand child hunger programs, including mobile and school food pantries, BackPack programs, and SNAP assistance.
• Morgan Stanley employees have volunteered over 130,000 hours for Feeding America food banks.
• The new grant aims to improve equitable food access through Operational Response Plans (ORPs).
• Morgan Stanley's announcement coincides with its annual Global Volunteer Month.

Negative

• No specific financial benefits for Morgan Stanley shareholders were highlighted.
• The PR does not mention any immediate positive impact on Morgan Stanley's stock performance.
• There is no clear data on the efficiency or success rates of the funded programs.
• The announcement does not address any potential financial risks associated with the grant.

• $8 million will support establishment or expansion of child and family feeding programs over four years
• New grant brings total Morgan Stanley commitment to Feeding America to over $50 million since 2009
• Announcement made during Firm’s annual Global Volunteer Month

NEW YORK--(BUSINESS WIRE)-- Morgan Stanley (NYSE: MS) today announced a grant of $8 million over four years to Feeding America® in support of programs that help address child hunger and improve equitable access to food among children and underserved populations. Since 2009, Morgan Stanley’s funding for Feeding America has totaled more than $50 million, helping to deliver more than 356 million meals¹ to children and families. Additionally, Morgan Stanley employees have volunteered more than 130,000 hours for Feeding America food banks across the U.S.

“The Morgan Stanley Foundation has supported the Feeding America network of food banks for 15 years and counting as part of our core value of giving back and our longstanding commitment to children’s health,” said Joan Steinberg, Morgan Stanley’s Global Head of Philanthropy and President of the Morgan Stanley Foundation. “We are proud to build upon this partnership and continue to fund innovative solutions that reach communities across the country at risk of food insecurity.”

Morgan Stanley’s latest grant to Feeding America will support the following initiatives:

• Child and Family Hunger Grants: These grants will be used to expand child hunger programs, helping children and their families access food and resources where they are and when they need it most. This includes: mobile and school food pantry programs; BackPack, which discreetly offers families free groceries for weekends and school breaks; after-school, weekend and summer meal programs; and Supplemental Nutrition Assistance Program (SNAP) application assistance programs.
• Equitable Access Operational Response Plans (ORPs): These programs are a new way to improve equitable access to food among underserved populations. Selected food banks will develop and implement customized ORPs that target the people and communities most affected by food insecurity in their area. Programs address reported barriers, such as lack of awareness of food assistance options, social stigma, lack of transportation, discrimination, and dietary or cultural preferences.

“All communities and each person within them deserve the food they need and desire to thrive. Morgan Stanley’s grants provide funding for programs that champion dignified and reliable access to nutritious food for people facing hunger while working to address barriers to support,” said Claire Babineaux-Fontenot, CEO of Feeding America. “We are deeply grateful for Morgan Stanley’s long-term support for grassroots programs as well as the hours their employees have volunteered. Both advance our shared vision of a food-secure America.”

The new grant is being announced as Morgan Stanley kicks off its annual Global Volunteer Month, when employees across the world participate in thousands of volunteer projects to generate impact where they live and work. To launch this year’s volunteer program, 300 employees will be gathering today in Times Square to pack meals for Food Bank For New York City.

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

About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

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1} Currently, $1 helps provide at least 10 meals secured by Feeding America® on behalf of local partner food banks.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240604156742/en/

Media Relations Contact:

Carrie Hall

Carrie.Hall@morganstanley.com

Source: Morgan Stanley

FAQ

What is the total amount Morgan Stanley has committed to Feeding America since 2009?

Morgan Stanley has committed over $50 million to Feeding America since 2009.

How many meals has Morgan Stanley helped deliver through its funding to Feeding America?

Morgan Stanley's funding has helped deliver more than 356 million meals to children and families.

What are some of the programs supported by Morgan Stanley's latest grant to Feeding America?

The programs include mobile and school food pantries, BackPack programs, after-school and summer meal programs, and SNAP application assistance.

What is the goal of Morgan Stanley's new grant to Feeding America?

The goal is to address child hunger and improve equitable access to food among underserved populations.

How will Morgan Stanley's grant support equitable access to food?

The grant will fund Operational Response Plans (ORPs) to address food insecurity barriers such as lack of awareness, social stigma, and lack of transportation.

When was Morgan Stanley's $8 million grant to Feeding America announced?

The grant was announced during Morgan Stanley's annual Global Volunteer Month.

How many volunteer hours have Morgan Stanley employees contributed to Feeding America food banks?

Morgan Stanley employees have volunteered more than 130,000 hours for Feeding America food banks.