Truist Foundation grants $5 million to First Step Staffing to aid in paving a path out of poverty and homelessness

Rhea-AI Summary

Truist Foundation has awarded a $5 million grant to First Step Staffing, the largest nonprofit employment agency in the U.S., aimed at combating homelessness. The funds will support the establishment of two new branches and enhance client services, including job placement and upskill training. In 2021, First Step helped over 8,000 individuals obtain jobs, contributing $57.1 million in wages. This partnership aims to provide greater economic opportunities and assist individuals in overcoming barriers to employment.

Positive

• Truist Foundation grants $5 million to First Step Staffing to expand services.
• Establishment of new branch locations enhances job placement opportunities.
• In 2021, First Step helped over 8,000 individuals secure employment.

Negative

• None.

Partnership will contribute to the expansion of First Step Staffing to new markets, providing job solutions to end homelessness across the U.S.

CHARLOTTE, N.C., July 21, 2022 /PRNewswire/ -- Truist Foundation announced today it has awarded a $5 million grant to First Step Staffing, the largest nonprofit employment agency in the country dedicated to providing economic opportunity and a path to self-sufficiency for individuals with barriers to employment, including those who are experiencing or recently experienced homelessness. The grant will help First Step establish two new branch locations across the U.S. and pilot an enhanced client services program featuring client assessments, housing placement with financial assistance, and additional upskill training opportunities.

"Generating career pathways is an essential step in creating systemic change to help address homelessness in the U.S.," said Lynette Bell, president of Truist Foundation. "Individuals who experience homelessness have countless barriers to overcome to earn reliable income and afford a home. We are honored to work with First Step Staffing as it expands its footprint across the country and restores economic opportunity for all."

Currently, First Step has branches in Atlanta, Ga.; Nashville, Tenn.; Orlando, Fla.; Philadelphia, Pa.; Fontana, Calif.; and Paramount, Calif. that offer one-on-one meetings with job coaches where clients discuss their work history, living situations, and other obstacles to employment. Following this meeting, clients are matched to a job within 72 hours, and First Step provides transportation to and from work.

"First Step Staffing believes that individuals, regardless of color or personal background, deserve the dignity of work and opportunity for economic mobility," said Amelia Nickerson, CEO at First Step Staffing. "Homelessness and poverty in the U.S. are increasing, and most individuals living in these situations have little opportunity to change their story. Housing is one part of the solution. Income is the other. First Step Staffing is proud to have partnered with Truist Foundation to expand our footprint and provide more paths out of homelessness."

In 2021, First Step provided more than 77,000 rides to and from work and helped more than 8,000 individuals get a job, helping its client base earn $57.1 million in paid wages. This comprehensive support system from First Step and Truist Foundation aims to empower individuals with employment and allow First Step's clients to become active members of the community.

About Truist Foundation

The Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. Established in 2020, the foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. The Truist Foundation's grants and activities focus on building career pathways to economic mobility and strengthening small businesses. Learn more at Truist.com/Purpose/Truist-Foundation.

About First Step Staffing

First Step Staffing is an employment social enterprise that aims to open the door to economic opportunity for men and women who face barriers to employment.  First Step provides immediate employment, transportation to and from work and connection to critical supports, especially housing. The goal is to help men and women take the First Step out of poverty and homelessness, into self-sufficiency. First Step is based in Atlanta, GA and has offices in Philadelphia PA, Los Angeles CA, San Bernardino CA, Orlando FL, and Nashville TN.

View original content:https://www.prnewswire.com/news-releases/truist-foundation-grants-5-million-to-first-step-staffing-to-aid-in-paving-a-path-out-of-poverty-and-homelessness-301590815.html

SOURCE Truist Financial Corporation

FAQ

What is the purpose of the $5 million grant awarded to First Step Staffing by Truist Foundation?

The grant aims to support the expansion of First Step Staffing and enhance employment services to combat homelessness.

When was the grant awarded to First Step Staffing by Truist Foundation?

The grant was awarded on July 21, 2022.

How many individuals did First Step Staffing help find jobs in 2021?

In 2021, First Step Staffing assisted over 8,000 individuals in securing employment.

What will the grant to First Step Staffing enable the organization to do?

The grant will enable First Step Staffing to open two new branch locations and enhance client services.

What is the stock symbol for Truist Financial Corporation?

The stock symbol for Truist Financial Corporation is TFC.