BALTIMORE, Dec. 18, 2019 /PRNewswire/ -- The T. Rowe
Price Foundation (NASDAQ-GS: TROW) is opening a new space, the
Bmore CoLab, under an ambitious partnership with the CASH Campaign
of Maryland (CASH) and other
nonprofits, to provide a variety of community services focused on
empowering entrepreneurship and financial well-being in
Baltimore.
Local nonprofits who are developing, launching, and implementing
financial well-being initiatives as a free or low-cost public
service will use the space to collaborate with community members
and each other on solving local financial challenges, learning from
one another, and innovating new approaches to common community
financial challenges.
CASH promotes economic advancement for low- to moderate-income
individuals and families in Baltimore and across Maryland. Additional organizations that will
partner in the Bmore CoLab and serve community members include KIVA
Baltimore, Innovation Works, and
Mission Launch. All four nonprofits are existing grantees of the T.
Rowe Price Foundation.
Located at the corner of Lombard and Calvert Streets, the space
for the Bmore CoLab was donated and renovated by the T. Rowe Price
Foundation, providing a prime Inner Harbor location for financial
well-being services. In order to serve community members with
children, the space includes a children's room that was designed in
collaboration with Junior Achievement. Additionally, the Bmore
CoLab has a classroom, which will be used by nonprofits to host
training and technical assistance workshops for local small
businesses and entrepreneurs.
The Bmore CoLab will begin serving community members in
February 2020, after the nonprofits
move into the space. The space will not be open to the general
public but through appointments with the Bmore CoLab nonprofit
partners.
Nonprofit partners were selected based on a mix of services they
provide, their potential for impact, and capacity to fully use the
space immediately and over a dedicated three-year period. The grant
to open the Bmore CoLab will be funded through the T. Rowe Price
Foundation's Impact Grants, which were announced earlier this year
and aim to address some of Baltimore's most critical needs, including
strengthening financial capabilities of Baltimore households.
QUOTES
John Brothers, president of the
T. Rowe Price Foundation
"We are fortunate to partner with amazing local financial
empowerment organizations who have the expertise to make a big
impact and just need additional resources and infrastructure to
expand their services to our innovative small businesses and
entrepreneurs in the Baltimore
community. We know that a strong local economy and financially
stable households benefit the entire community."
Robin McKinney, Co-Founder and
Chief Executive Officer of the CASH Campaign of
Maryland
"The CASH Campaign of Maryland is proud to be a lead nonprofit
partner of the new Bmore CoLab. We're grateful to the T.
Rowe Price Foundation for this excellent opportunity to provide
more help and services designed to improve the lives of
Baltimore's working families. With
so many people, nowadays, working in the gig economy or starting
'side hustles,' the Bmore CoLab will provide the CASH Campaign
of Maryland with one more
way to help aspiring entrepreneurs
create assets, savings, and hope."
ABOUT T. ROWE PRICE
Founded in 1937,
Baltimore-based T. Rowe Price
Group, Inc. (troweprice.com), is a global investment management
organization with $1.18 trillion in assets under management as
of November 30, 2019. 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. For more information,
visit troweprice.com or our Twitter,
YouTube, LinkedIn, and
Facebook sites.
ABOUT THE CASH (Creating Assets, Savings and Hope) CAMPAIGN
OF MARYLAND
The nonprofit
CASH Campaign of Maryland works
with its partners across the state to promote programs, products,
and policies that increase the financial security of low-to
moderate-income individuals and families across the state. Most
services are available at no cost or on a sliding scale, including
tax preparation, financial education classes, and financial
coaching. For more information, contact Robin McKinney, Co-Founder & C.E.O., CASH
Campaign of
Maryland, robin@cashmd.org or 443-692-9422.
www.cashmd.org, @CASHMD
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SOURCE T. Rowe Price Group, Inc.