T. Rowe Price Continues Its Commitment to HBCUS and the Baltimore Community With 2023 CIAA Basketball Tournament Sponsorship

Rhea-AI Summary

T. Rowe Price (NASDAQ-GS:TROW) is sponsoring the 2023 CIAA Basketball Tournament in Baltimore from February 21-25. The event supports historically Black colleges and universities (HBCUs) and aims to create positive change in the community. Last year's tournament attracted 66,000 attendees, generating $19.6 million in economic impact and supporting over 1,100 jobs. T. Rowe Price, with $1.35 trillion in assets under management, emphasizes its commitment to community collaboration and financial education. The firm has also expanded its partnership with Morgan State University to enhance financial literacy.

Positive

• Sponsorship of the CIAA Basketball Tournament enhances community engagement.
• Economic impact of $19.6 million from last year's tournament supports local economy.
• Continued support for HBCUs and partnership expansion with Morgan State University highlights commitment to education.

Negative

• None.

BALTIMORE, MD / ACCESSWIRE / February 23, 2023 / Global investment management firm and a leader in retirement services, T. Rowe Price (NASDAQ-GS:TROW), is pleased to sponsor the 2023 Central Intercollegiate Athletic Association (CIAA) Men's & Women's Basketball Tournament, February 21-25, 2023. This year's tournament, supporting the first and longest-running African American athletic conference in the U.S., will once again take place in Baltimore this year at the newly renovated CFG Bank Arena, just blocks from T. Rowe Price's headquarters.

"T. Rowe Price aims to be a strong collaborator in the communities where its associates live and work-believing that partnership is the most effective way for communities to realize positive change," said Raymone Jackson, global head of Diversity, Equity, and Inclusion for T. Rowe Price. "We seek to celebrate and champion the people and organizations that make Baltimore so great and are proud to help amplify those making a positive impact in our community."

With this sponsorship, T. Rowe Price continues its support of historically Black colleges and universities (HBCUs). T. Rowe Price is an active sponsor of the HBCU Career Development Marketplace, a nonprofit that works to inform and educate students from HBCUs about corporate America as they transition into the workforce. The firm also has a long-standing relationship with Morgan State University and announced in 2022 an expansion of that partnership with Barron's in Education, a business school experiential learning program that offers financial education resources, increases financial proficiency, and provides access to key business news reporting to students and faculty.

Starting on February 21, two dozen teams from HBCUs will compete at the CIAA Basketball Tournament. Last year, the tournament welcomed 66,000 total attendees and over 22 basketball games and had a direct spending impact of $13.9 million during its five-day run in Baltimore. It generated a total economic impact of $19.6 million, which supported 1,159 part-time and full-time jobs and generated $1.9 million in state and local taxes. In addition, the City of Baltimore, State of Maryland, Visit Baltimore, and the Local Host Committee-made up of area businesses and corporate partners, including T. Rowe Price-made an $800,000 donation to the CIAA General Scholarship Fund that supports the conference's member institution and its students.

ABOUT T. Rowe Price

Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization with $1.35 trillion in assets under management as of January 31, 2023. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. T. Rowe Price helps clients invest with confidence and can be found on Facebook, Instagram, LinkedIn, Twitter, and YouTube.

CONTACT T. ROWE PRICE, PUBLIC RELATIONS

Arminta Plater
T. Rowe Price
(240) 988-7418
arminta.plater@troweprice.com

Amy Burke Friedman
PROFILES
410-243-3790
afriedman@profilespr.com

View additional multimedia and more ESG storytelling from T. Rowe Price on 3blmedia.com.

Contact Info:
Spokesperson: T. Rowe Price
Website: https://www.3blmedia.com/profiles/t-rowe-price
Email: info@3blmedia.com

SOURCE: T. Rowe Price

View source version on accesswire.com:
https://www.accesswire.com/740579/T-Rowe-Price-Continues-Its-Commitment-to-HBCUS-and-the-Baltimore-Community-With-2023-CIAA-Basketball-Tournament-Sponsorship