Morgan Stanley Strengthens Alliance for Children’s Mental Health with New Funding and Members
11 April 2024 - 11:00PM
Business Wire
- New funding brings Morgan Stanley’s total commitment to $50
million since the launch of its Alliance for Children’s Mental
Health in 2020
- The American Academy of Pediatrics and Sesame Workshop join
Alliance to help expand programming to early childhood care and
workforce development
Morgan Stanley today announced a $20 million commitment over the
next five years to its Alliance for Children’s Mental Health
(“Alliance”), bringing the initiative’s total funding to $50
million since its launch in 2020. The Alliance will strengthen its
work delivering programming and research, advancing transformative
solutions through the Innovation Awards, and driving more impact
for kids of all ages.
To expand its reach to early childhood care and workforce
development for pediatrics, the Alliance has added two new members
to the existing roster of distinguished nonprofits:
- The American Academy of Pediatrics, which represents 67,000
pediatricians and pediatric specialists in the U.S., will
strengthen the preparedness of pediatricians to address the
immediate mental health needs of children, specifically targeting
medically underserved communities. A new Pediatric Mental Health
Education Center will equip pediatricians with the knowledge, tools
and collaborations critically needed to bring mental health support
into their practices and communities.
- Sesame Workshop, the global impact nonprofit behind Sesame
Street, will expand its organization-wide early childhood mental
health initiative to focus on early detection and prevention and
helping young children and their circle of care in marginalized
communities across the U.S. address issues as early as possible.
Sesame Workshop will partner with key early childhood networks,
including Head Start programs, and family, friend and neighbor
(FFN) care providers to increase support for children's emotional
well-being and communicate ways to identify and manage signs of
emotional distress.
“Morgan Stanley’s focus on children’s health is a core part of
the Firm’s commitment to give back to our communities,” said Ted
Pick, Chief Executive Officer of Morgan Stanley and Chair of the
Morgan Stanley Alliance for Children’s Mental Health Advisory
Board. “Today, we are strengthening our commitment and growing the
Alliance for Children’s Mental Health by welcoming two outstanding
members - the American Academy of Pediatrics and Sesame Workshop -
to join us in effecting much-needed change.”
“Pediatricians are often the first and sometimes the only
medical professional to see an adolescent or even younger children
with mental health conditions,” said Mark Del Monte, Chief
Executive Officer and Executive Vice President of the American
Academy of Pediatrics. “As trusted care providers, pediatricians
can best serve the needs of their patients and families when they
are equipped with essential education and resources. This Alliance,
which is providing vital resources, is working to ensure that every
child has access to mental health care.”
“The growing mental health crisis is top of mind for many, yet
its impact on young children is too often overlooked,” said Sherrie
Westin, President and Interim CEO, Sesame Workshop. “We know
developing a healthy mind, body and heart, starts from day one, and
the presence of supportive, caring adults in children’s lives makes
a world of difference in their emotional well-being and ability to
thrive.”
To date, the Alliance has:
- Benefited more than 37 million children, caregivers and
educators globally;
- Granted $1.5 million to 15 early-stage nonprofits to scale
their transformative mental healthcare solutions across the U.S. as
part of its Innovation Awards program;
- Run an education and capacity-building program supporting over
85 nonprofits; and
- Driven research and convenings on the pandemic’s impact,
problematic internet usage, the metaverse and digital parenting,
among other topics.
“While there is growing awareness around youth mental health,
further advocacy and philanthropic funding are vital as we look to
improve early identification and intervention, access and equity in
mental health care,” said Joan Steinberg, President of the Morgan
Stanley Foundation and CEO of the Alliance Advisory Board. “The
mental health crisis is too big for anyone to tackle alone. We hope
our announcement today will encourage others to help reduce the
significant funding gap in this space and advocate for the mental
well-being of countless children and youth.”
Current members of the Alliance include the Child Mind
Institute, Columbia University Department of Psychiatry, The Jed
Foundation (JED), Mind HK, New York-Presbyterian Morgan Stanley
Children’s Hospital, Place2Be, and The Steve Fund.
For more information about the Morgan Stanley Alliance for
Children’s Mental Health, please visit here.
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About Morgan Stanley Morgan Stanley (NYSE: MS) is a
leading global financial services firm providing a wide range of
investment banking, securities, wealth management, and investment
management services. With offices in 42 countries, the Firm’s
employees serve clients worldwide including corporations,
governments, institutions, and individuals. For further information
about Morgan Stanley, please visit www.morganstanley.com.
About Morgan Stanley Alliance for Children's Mental
Health Launched in 2020, the Morgan Stanley Alliance for
Children's Mental Health brings together key leaders in the
children's mental health space and combines the resources and reach
of Morgan Stanley and its Foundation with the knowledge and
experience of its distinguished nonprofit member organizations. The
Alliance helps strategically address children's mental health
concerns and the far-reaching challenges of stress, anxiety, and
depression. For more information about the Alliance, visit
www.morganstanley.com/mentalhealthalliance.
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