WSFS CARES Foundation Supports Community Organizations with $200K in Second Quarter Grants
16 July 2024 - 12:02AM
Business Wire
The WSFS CARES Foundation, the charitable giving arm of WSFS
Bank (Nasdaq: WSFS), announced it has provided grants to two
organizations as part of its continuing series of philanthropic
activities by WSFS and the Foundation. The grants, approved in the
second quarter by the WSFS CARES Foundation board, will support the
following organizations:
- Be Ready Community Development Corp. ($200,000 Grant to be
paid over two years) Be Ready Community Development Corporation
(Be Ready CDC) is a resident-driven community development
organization founded in 2003 with the goal to revitalize the
Hilltop neighborhood in Wilmington’s West Side. A prior WSFS grant
supported phase one of Be Ready CDC’s Solomon’s Court Project to
create six affordable units for low-income households, which is now
complete. The latest grant will continue supporting the project
through the second and final phase, creating 12 additional units
for a total of 18 affordable rental units and 5,600 square feet of
ground floor commercial space for small businesses. The funding
from WSFS helps to complete part of an $11 million project to
improve the housing on the West Side of Wilmington.
- TeenSHARP ($300,000 Grant to be paid over three years)
TeenSHARP is a national nonprofit based in Wilmington, Del. that
prepares Black, Latino, and low-income students to attend and
thrive at America’s top colleges with little or no debt. The WSFS
CARES Foundation has supported TeenSHARP throughout the years,
helping the organization grow from just 10 students to about 400
today, and around 500 total high school graduates. The WSFS grant
will support the A-List program, which provides high school
students assistance as they move to and through college, helping
them navigate their professional careers to build leadership and
decision-making skills, financial stability, and independence.
“The WSFS CARES Foundation is committed to aiding our local
nonprofit partners in every step of their journey to improve the
communities we serve. Our continued support of these two
organizations emphasizes our shared commitments to improving the
daily lives of local residents through education and leadership
development, affordable housing accessibility, and more,” said
Patrick J. Ward, Executive Vice President, Pennsylvania Market
President at WSFS Bank and Chairman of the WSFS CARES Foundation.
“We’re proud to provide these multi-year grants to these great
organizations to offer stability, enable them to flourish and make
a positive impact.”
“My first thought when I saw that we received the WSFS grant
was, wow, thank you Lord,” said Pastor Margaret Moon-Taylor,
Executive Director of Be Ready CDC. “The funding from WSFS means
that the vision for our community, first laid out by Mother Essie
D. Lee and Pastor Lottie Lee Davis, is going to become a reality.
We can now provide new, affordable housing for families and people
with disabilities right here in our neighborhood.”
“The WSFS CARES Foundation continues to show up as a strong
supporter of TeenSHARP for more than four years of our 15+ year run
of opening the doors to opportunity and dynamic leadership for
Black, Latino, and low-income students across the Delaware Valley,”
said Tamara Fentress, Chief of Staff at TeenSHARP. “WSFS' initial
grant was a springboard to resource deeper application and
sustainability of our programming delivery to students in a virtual
setting, as well as our staffing. Now, with their continued
support, we're excited about what's ahead to grow our A-List
(alumni) program, DGCA (Delaware Goes to College Academy), and our
premier Striver program experiences.”
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 March 31, 2024,
WSFS Financial Corporation had $20.6 billion in assets on its
balance sheet and $80.5 billion in assets under management and
administration. WSFS operates from 114 offices, 88 of which are
banking offices, located in Pennsylvania (57), Delaware (40), New
Jersey (14), Florida (1), 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.
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Media Contact: Kyle Babcock (215) 864-1795
kbabcock@wsfsbank.com
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