Square Financial Services Launches Grant Initiative to Drive Community Development in Utah
Square Financial Services, a subsidiary of Block, Inc., has launched the 24 Squared grant initiative in partnership with the Community Foundation of Utah. This program will award microgrants of at least $2,400 to 24 local nonprofits focused on community development in Utah. The initiative builds on the success of previous years, having provided over $100,000 to Utah-based organizations since 2021.
The grants target nonprofits working in areas such as small business development, affordable housing, reentry support, entrepreneurship, and financial wellness. Applications are open until September 30, 2024, for eligible 501(c)(3) organizations in Utah. This initiative aligns with Block's purpose of economic empowerment and aims to support underserved businesses and communities throughout the state.
Square Financial Services, una filiale di Block, Inc., ha lanciato l'iniziativa di sovvenzioni 24 Squared in collaborazione con la Community Foundation of Utah. Questo programma assegnerà micro-sovvenzioni di almeno $2.400 a 24 organizzazioni nonprofit locali focalizzate sullo sviluppo della comunità in Utah. L'iniziativa si basa sul successo degli anni precedenti, avendo fornito oltre $100.000 a organizzazioni con sede in Utah dal 2021.
Le sovvenzioni sono destinate a nonprofit che operano in settori come sviluppo di piccole imprese, abitazioni accessibili, supporto al reinserimento, imprenditorialità e benessere finanziario. Le domande sono aperte fino al 30 settembre 2024, per le organizzazioni idonee 501(c)(3) in Utah. Questa iniziativa è in linea con lo scopo di Block di promuovere l'emancipazione economica e mira a sostenere le imprese e le comunità svantaggiate in tutto lo stato.
Square Financial Services, una subsidiaria de Block, Inc., ha lanzado la iniciativa de subvenciones 24 Squared en asociación con la Community Foundation of Utah. Este programa otorgará micro subvenciones de al menos $2,400 a 24 organizaciones sin fines de lucro locales enfocadas en el desarrollo comunitario en Utah. La iniciativa se basa en el éxito de años anteriores, habiendo proporcionado más de $100,000 a organizaciones con sede en Utah desde 2021.
Las subvenciones están dirigidas a organizaciones sin fines de lucro que trabajan en áreas como desarrollo de pequeñas empresas, vivienda asequible, apoyo a la reinserción, emprendimiento y bienestar financiero. Las solicitudes están abiertas hasta el 30 de septiembre de 2024, para organizaciones elegibles 501(c)(3) en Utah. Esta iniciativa está alineada con el propósito de Block de empoderamiento económico y tiene como objetivo apoyar negocios y comunidades desatendidas en todo el estado.
Square Financial Services는 Block, Inc.의 자회사로 유타주 커뮤니티 재단과 협력하여 24 Squared 보조금 이니셔티브를 시작했습니다. 이 프로그램은 유타주 내 지역 비영리 단체 24곳에 최소 $2,400의 마이크로 보조금을 지급합니다. 이 이니셔티브는 2021년 이후 유타주 기관에 $100,000 이상을 제공한 지난 몇 년간의 성공을 기반으로 하고 있습니다.
보조금은 소기업 개발, 저비용 주택, 재진입 지원, 기업가 정신 및 재정 건강과 같은 분야에서 활동하는 비영리 단체를 대상으로 하고 있습니다. 2024년 9월 30일까지 유타 주의 501(c)(3) 자격을 갖춘 조직에 대해 신청을 받습니다. 이 이니셔티브는 Block의 경제적 권한 부여 목적에 부합하며 주 전역의 소외된 비즈니스와 커뮤니티를 지원하는 것을 목표로 합니다.
Square Financial Services, une filiale de Block, Inc., a lancé l'initiative de subventions 24 Squared en partenariat avec la Community Foundation of Utah. Ce programme attribuera des micro-subventions d'au moins 2 400 $ à 24 organisations à but non lucratif locales axées sur le développement communautaire dans l'Utah. L'initiative s'appuie sur le succès des années précédentes, ayant fourni plus de 100 000 $ à des organisations basées en Utah depuis 2021.
Les subventions ciblent les organisations à but non lucratif travaillant dans des domaines tels que le développement des petites entreprises, le logement abordable, le soutien à la réinsertion, l'entrepreneuriat et le bien-être financier. Les candidatures sont ouvertes jusqu'au 30 septembre 2024, pour les organisations 501(c)(3) éligibles dans l'Utah. Cette initiative est en accord avec l'objectif de Block d'autonomisation économique et vise à soutenir les entreprises et les communautés défavorisées à travers l'État.
Square Financial Services, eine Tochtergesellschaft von Block, Inc., hat die 24 Squared Zuschussinitiative in Partnerschaft mit der Community Foundation of Utah ins Leben gerufen. Dieses Programm wird Mikrozuschüsse von mindestens $2.400 an 24 lokale gemeinnützige Organisationen verteilen, die sich auf die Gemeinschaftsentwicklung in Utah konzentrieren. Die Initiative baut auf dem Erfolg der Vorjahre auf und hat seit 2021 über $100.000 an in Utah ansässige Organisationen bereitgestellt.
Die Zuschüsse zielen auf gemeinnützige Organisationen ab, die in Bereichen wie Kleinunternehmensentwicklung, erschwinglichem Wohnraum, Wiedereingliederungsunterstützung, Unternehmertum und finanzieller Gesundheit tätig sind. Die Anträge sind bis zum 30. September 2024 für berechtigte 501(c)(3) Organisationen in Utah geöffnet. Diese Initiative steht im Einklang mit dem Zweck von Block, wirtschaftliche Selbstbestimmung zu fördern, und zielt darauf ab, unterversorgte Unternehmen und Gemeinschaften im ganzen Bundesstaat zu unterstützen.
- Awarding microgrants of at least $2,400 to 24 local nonprofits
- Provided over $100,000 to Utah-based organizations since 2021
- Expanding community development support in Utah
- Targeting key areas: small business development, affordable housing, reentry support, entrepreneurship, and financial wellness
- None.
Insights
Square Financial Services' 24 Squared grant initiative, while commendable for its community support, has minimal direct impact on Block Inc.'s financial performance. The
- Enhancing its reputation in Utah, potentially leading to increased customer loyalty and business opportunities.
- Fostering a positive regulatory environment, important for its banking subsidiary.
- Supporting potential future customers, aligning with Block's economic empowerment mission.
Investors should view this as a long-term strategic move rather than a short-term financial catalyst. The initiative's impact on Block's stock price is likely to be neutral in the near term.
The 24 Squared grant initiative demonstrates a targeted approach to community development in Utah. By focusing on key pillars such as small business development, affordable housing and financial wellness, Square Financial Services is addressing critical needs in both urban and rural areas. The microgrant model of
- Reaching a diverse range of nonprofits, including smaller, grassroots organizations.
- Providing seed funding for innovative projects that might struggle to secure larger grants.
- Creating a multiplier effect across various sectors of community development.
The program's expansion and continued success indicate a positive trend in corporate-community partnerships, potentially inspiring similar initiatives in other regions.
-
Square Financial Services and the Community Foundation of
Utah will award microgrants of at least$2,400 -
This year’s launch follows the program’s success in 2021 and 2022 during which more than
$100,000 Utah -based organizations - Initiative is focused on driving community development work in line with Block’s purpose of economic empowerment
DISTRIBUTED-WORK-MODEL/
In line with Block’s purpose of economic empowerment, the microgrants are intended for
“The 24 Squared program supports businesses that otherwise would not be funded, are underserved, and/or need funding to get their start or grow to the next step. The generous grant from this initiative was used to help fund the operations powering our programs and services,” said Sara Day, Program Manager at Utah Microloan Fund, a microgrant recipient in 2022. “Without support from organizations like Square Financial Services, we could not do the work that we do.”
In its prior two years, the 24 Squared grant initiative has attracted widespread interest from regional nonprofits, awarding more than
“After seeing the critical work that our microgrant program has helped fund over the previous two years, we knew that we wanted to provide more opportunity for impact and bring back the program in a bigger way in 2024,” said Lewis Goodwin, Chief Executive Officer of Square Financial Services. “We’re grateful for the Community Foundation of Utah’s continued partnership as we provide more funding to more organizations that are working to better
"CFU is thrilled to partner for the 24 Squared Grant initiative for the third year," said Alex Eaton, Chief Executive Officer of the Community Foundation of
Online applications are now open for eligible,
About Block
Block, Inc. (NYSE: SQ) (formerly, Square, Inc.) is a global technology company with a focus on financial services. Made up of Square, Cash App, TIDAL, and TBD, we build tools to help more people access the economy. Square makes commerce and financial services easy and accessible for sellers with its integrated ecosystem of technology solutions. With Cash App, anyone can easily send, spend, or invest their money in stocks or bitcoin. Afterpay brings Square and Cash App together, connecting consumers and businesses. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open source platform and developer infrastructure that enables everyone to access and participate in the global economy.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240826222526/en/
Media Contact
press@block.xyz
Source: Block, Inc.
FAQ
What is the 24 Squared grant initiative by Square Financial Services (SQ)?
When is the application deadline for the 24 Squared grant initiative in 2024?
How much has Square Financial Services (SQ) provided in grants through this initiative since 2021?
What types of nonprofits are eligible for the Square Financial Services (SQ) 24 Squared grants?
