WSFS CARES Foundation Supports Community Organizations with $165K in Fourth Quarter Grants

Rhea-AI Summary

WSFS CARES Foundation, the charitable arm of WSFS Bank (Nasdaq: WSFS), has announced fourth quarter grants totaling $165,000 to four organizations. The largest grants include a $285,000 three-year commitment to the Community Education Building for their Youth Development Center, and a $150,000 three-year grant to Reach Riverside Development for their CORE Program supporting low-income children in Wilmington.

Additional grants include $10,000 each to Covenant House for workforce development and CASA Youth Advocates for child welfare system support. WSFS Bank also provided separate smaller grants to various organizations including Literacy Delaware, Chester County Food Bank, Family Support Line, and Mother's Home.

WILMINGTON, Del.--(BUSINESS WIRE)-- The WSFS CARES Foundation, the charitable giving arm of WSFS Bank (Nasdaq: WSFS), announced it has provided grants to four organizations as part of its continuing series of philanthropic activities by WSFS and the Foundation. The grants, approved in the fourth quarter by the WSFS CARES Foundation board, will support the following organizations:

• Community Education Building ($285,000 Grant to be paid over 3 years)
  Community Education Building (CEB) was established in 2012 as an inclusive collaborative and community-centered educational ecosystem with a mission to provide an integrated support system that allows every child an equitable opportunity to succeed. The WSFS CARES Foundation has provided grants to CEB since 2018 to support the Student Advocacy Initiative and the integration of the Community School model. The latest grant will support the Youth Development Center, which creates a safe place for extended learning and enrichment programming, provides career pipeline programs for youth and adults to meet the workforce demands of Delaware employers and provides additional capacity for early childhood education.

• Reach Riverside Development Corporation ($150,000 Grant to be paid over 3 years)
  A part of The Work Group, Reach Riverside’s mission is to address disparity. The WSFS CARES Foundation previously provided a five-year grant to support the organization’s Teen Warehouse. The latest grant will support the launch of Reach’s CORE Program, a holistic strategy that provides cradle to career support to vulnerable low-income children in Wilmington. The program will provide CORE Coaches to work with each student and their families to support healthy emotional, social, intellectual, physical wellbeing and academic growth.

• Covenant House ($10,000 Grant)
  Founded in 1999, Covenant House is the largest provider of services for youth experiencing homelessness in Philadelphia and the only provider exclusively serving youth ages 21 and under. The funds from the WSFS CARES Foundation’s Future Leaders initiative will help enhance workforce development opportunities for youth overcoming homelessness.

• CASA Youth Advocates of Delaware & Chester Counties ($10,000 Grant)
  CASA Youth Advocates of Delaware & Chester Counties (CASA) was founded in 1992 with the mission to empower community volunteers to connect with and champion children and youth involved in the child welfare system, advocating for equity, resources, stability, and permanency. CASA recruits, trains, and supports volunteers who are appointed by the court to advocate for children in dependency court and the foster care system due to abuse and neglect. The grant, funded from the WSFS CARES Foundation’s Future Leaders initiative, will help CASA adjust and grow their infrastructure to serve more children and keep pace with increasing demand for their services.

In addition, WSFS Bank provided $5,000 to Literacy Delaware in a year-end grant at the recommendation of WSFS’ Board of Directors. WSFS Bank also provided $5,000 grants to the Chester County Food Bank and Family Support Line, and $2,500 to Mother’s Home at the recommendation of WSFS’ Pennsylvania and New Jersey Advisory Boards.

“We are deeply committed to creating meaningful impacts in our communities by supporting programs that promote economic development, advance education, and encourage leadership," said Patrick J. Ward, Executive Vice President, Pennsylvania Market President at WSFS Bank and Chairman of the WSFS CARES Foundation. "It’s a privilege to join forces with such inspiring organizations, and we look forward to expanding our efforts together."

“We are grateful for the continuous support of WSFS bank,” said Linda Jennings, CEO of Community Education Building. “With WSFS’ partnership, including this generous contribution, we are empowering students and families to achieve their full potential. Investments like this drive high-quality cradle to career supports, enrichment programs, mentorship opportunities, and college and career preparation. Together, we are shaping a brighter future for all learners in our Wilmington community.”

“Funding from the WSFS CARES Foundation will transform the lives of hundreds of Wilmington youth,” said Kenyetta McCurdy Byrd, Chief Operating Officer of The WRK Group (The Warehouse, REACH Riverside & Kingswood Community Center). “One of The Warehouse RISE participants, Chanise Williams, says it best: ‘The support I’ve received has been life changing. It’s allowed me to focus on my goals and provide a better future for my son and my future children. I’m so thankful for The Warehouse and everyone who has made this possible.’”

“We are grateful to the WSFS CARES Foundation for this grant, which allows us to expand our workforce development programming,” said Alexia Clarke, President & Chief Executive Officer, Covenant House Pennsylvania. “This funding will empower youth experiencing homelessness to gain skills they need to build stable, independent futures. We know firsthand the transformative impact that exposure to job readiness support can have on the lives of the young people we serve. Thank you for investing in our future!”

“CASA Youth Advocates has been growing significantly over recent years, working to ensure that abused and neglected children in Delaware and Chester counties have what they need to survive and thrive,” said Leigh Anne McKelvey, Executive Director at CASA. “We cannot achieve our mission without the support of community partners who stand by us, just as we stand by the children we serve. WSFS Bank has been a valued partner of CASA for many years and we’re grateful that they have increased their support from the WSFS CARES Foundation to assist our organization with our strategic planning process, as we prepare for continued and sustained future growth.”

About the WSFS CARES Foundation
The WSFS CARES Foundation brings WSFS’ mission of We Stand for Service® to life across the communities we serve. The mission of the WSFS CARES Foundation is to support qualified nonprofit service organizations within our regional footprint that are invested in improving communities, fostering a spirit of inclusion and diversity, and whose focus aligns with the WSFS CARES Foundation’s transformational vision. For more information, please visit https://www.wsfsbank.com/about/community/the-wsfs-cares-foundation/.

About WSFS Financial Corporation
WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and trust company in the Greater Philadelphia and Delaware region. As of September 30, 2024, WSFS Financial Corporation had $20.9 billion in assets on its balance sheet and $87.2 billion in assets under management and administration. WSFS operates from 114 offices, 88 of which are banking offices, located in Pennsylvania (57), Delaware (39), New Jersey (14), Florida (2), Nevada (1) and Virginia (1) and provides comprehensive financial services including commercial banking, consumer banking, treasury management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Capital Management, LLC, Bryn Mawr Trust^®, The Bryn Mawr Trust Company of Delaware, Cash Connect^®, NewLane Finance^®, Powdermill^® Financial Solutions, WSFS Institutional Services^®, WSFS Mortgage^®, and WSFS Wealth^® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250107084133/en/

Media:

Kyle Babcock

(215) 864-1795

kbabcock@wsfsbank.com

Source: WSFS CARES Foundation

FAQ

How much did WSFS CARES Foundation grant to Community Education Building in Q4 2023?

WSFS CARES Foundation granted $285,000 to Community Education Building, to be paid over 3 years, supporting their Youth Development Center.

What is the total amount granted to Reach Riverside Development by WSFS?

WSFS CARES Foundation granted $150,000 to Reach Riverside Development , to be paid over 3 years, supporting their CORE Program.

How much did WSFS CARES Foundation grant to Covenant House and what is it for?

WSFS CARES Foundation granted $10,000 to Covenant House to enhance workforce development opportunities for youth overcoming homelessness.

What additional organizations received smaller grants from WSFS Bank in Q4 2023?

WSFS Bank provided additional grants of $5,000 each to Literacy Delaware, Chester County Food Bank, and Family Support Line, plus $2,500 to Mother's Home.