Information Launch > Entergy’s new partnership to deal with the racial wealth hole, empower HBCU college students for future success
For Rapid Launch
11/15/2023
Pilot program will present college students at Dillard, SUNO and Xavier entry to monetary help, assets and funding accounts to construct a brighter, extra affluent tomorrow
NEW ORLEANS – At a press convention in the present day, Entergy launched a brand new initiative – The Energy of Prosperity – a partnership with Single Cease and Stackwell to assist Traditionally Black Faculty and College, or HBCU, college students to make sure their success and place them to construct generational wealth. The Energy of Prosperity initiative might be provided freed from cost to 1,500 freshmen and first-year switch college students at Dillard College, Southern College at New Orleans and Xavier College of Louisiana via a $700,000 donation offered by Entergy shareholders to the college companions. This system is being launched as a one-year pilot for HBCUs in Orleans parish, with plans to develop to different HBCUs in Entergy’s service territory sooner or later.
“We’re proud to face with Dillard, Southern and Xavier College to launch The Energy of Prosperity initiative,” stated Deanna Rodriguez, president and CEO of Entergy New Orleans. “Entergy is dedicated to fostering the success of our area’s HBCUs. This partnership with Single Cease and Stackwell will assist shut the racial wealth hole by connecting students with the assets to succeed academically and start constructing generational wealth. We’re assured their success will make a optimistic impression on the neighborhood we serve.”
The Energy of Prosperity program will assist take away boundaries to college students’ educational success by offering college students and their households with free entry to monetary assist and assets via Single Cease. Single Cease is a nationwide nonprofit that combats poverty and promotes financial mobility by connecting people to accessible assets via their “one-stop store” platform. A examine performed by The RAND Company discovered that school college students who used Single Cease companies, together with its tax companies, have a 15% increased price of educational persistence than their friends. On common, households served by Single Cease are eligible for advantages and helps valued at greater than $17,000.
Watch the information convention
“We’re honored to hitch forces with Entergy on this important initiative,” stated Martin Hanna, president and CEO of Single Cease. “Single Cease is steadfast in its dedication to empowering college students and communities by offering seamless entry to essential public advantages and neighborhood assets. Incorporating our complete platform into this effort is a pivotal transfer in direction of equipping college students and their households with the assist wanted for lasting financial stability.”
The second element of The Energy of Prosperity is designed to equip college students with the data and instruments to start constructing generational wealth. College students might be supplied with $100 seeded funding accounts and entry to monetary literacy training and training via a partnership with Stackwell Capital, a digital funding platform designed to assist shut the racial wealth hole by empowering extra folks within the Black neighborhood to leverage the ability of the inventory market to develop their wealth.
“At Stackwell, we imagine that with the intention to do groundbreaking work, it’s a must to be on the bottom,” stated Trevor Rozier-Byrd, founder and CEO at Stackwell. “We’re excited to additional our funding within the New Orleans neighborhood via The Energy of Prosperity initiative in partnership with Entergy and Single Cease. This initiative is a testomony to our collective perception within the transformative energy of HBCUs and their gifted college students that might be leaders in our neighborhood for generations to come back.”
The impression of The Energy of Prosperity program extends to the broader neighborhood with an estimated financial impression of greater than $25 million when it comes to the added monetary help and funding accounts for college students.
With roots within the New Orleans neighborhood stretching again over a century, Entergy is devoted to eradicating poverty and creating alternatives for the neighborhood we serve. Entergy acknowledges that generational wealth is a basis for financial stability, entry to alternative and long-term prosperity – and understands the very important position that HBCUs play in shaping the panorama for its college students and communities. In recognition of those realities, Entergy’s partnership with the HBCUs will assist take away boundaries to scholar success, equip them with instruments and data and construct a path to multigenerational wealth for a brighter tomorrow.
“Recognizing that training alone isn’t ample to shut the racial wealth hole, our objective is for college students to graduate with a level and an funding account that may assist them construct generational wealth,” stated Rodriguez.
Be taught extra about Entergy’s dedication to constructing a extra various, inclusive and equitable workforce in its communities right here.
About Entergy
Entergy is a Fortune 500 firm that powers life for 3 million prospects via our working corporations in Arkansas, Louisiana, Mississippi and Texas. We’re investing within the reliability and resilience of the vitality system whereas serving to our area transition to cleaner, extra environment friendly vitality options. With roots in our communities for greater than 100 years, Entergy is a nationally acknowledged chief in sustainability and company citizenship. Since 2018, we now have delivered greater than $100 million in financial advantages annually to native communities via philanthropy, volunteerism and advocacy. Entergy is headquartered in New Orleans, Louisiana, and has roughly 12,000 staff. Be taught extra at entergy.com and join with @Entergy on social media. #WePowerLife
About Single Cease
A nonprofit group based in 2007, Single Cease’s mission is to equip others to construct pathways to financial well-being by leveraging partnerships and expertise to attach folks to invaluable assets. By combining their neighborhood networks and cutting-edge expertise, Single Cease’s distinctive one-stop-shop mannequin helps organizations present their shoppers with centralized entry to instruments important for constructing a pathway to a sustainable future.
Single Cease is an organization of The Fedcap Group. Since 1935, The Fedcap Group has developed scalable, modern, and probably disruptive options to a few of society’s most urgent wants. The work of The Fedcap Group is structured inside 4 main areas of apply—workforce growth, academic companies, well being companies, and financial growth—and delivered via a rising variety of top-tier corporations—every targeted on serving to folks obtain long-term monetary well-being.
About Stackwell
Stackwell Capital, Inc., is a number one fintech firm that has created a digital funding platform for the Black neighborhood. With a mission to eradicate the racial wealth hole in America, Stackwell supplies the monetary funding instruments and steering essential to assist construct lasting wealth, fairness, and equal alternative. Stackwell has developed a singular ecosystem of strategic companions in monetary companies, increased training, skilled sports activities, and created an ever-growing NIL student-athlete ambassador program. Stackwell was a member of the 2022 Monetary Options Lab and MassChallenge U.S. Early-Stage accelerator applications. For extra data, go to stackwellcapital.com.
