CDR Foundation Awards $5 Million in Grants to NYC Nonprofits Aimed at Economic Opportunity

CDR Foundation Awards $5 Million in Grants to NYC Nonprofits

In a significant move to support local communities, the CDR Foundation has announced it will distribute $5 million in grants to five nonprofit organizations within New York City. This funding will be allocated over the next four years, reinforcing the Foundation's commitment to fostering economic access and opportunity for underserved populations.

Since its establishment in 2021, the CDR Foundation has committed around $40 million to various organizations across its local communities, including New York City, London, and broader regions in the U.S. and U.K. The recent grants will be awarded to five nonprofit organizations identified as Talent Solution Partners (TSPs): the Ali Forney Center, BASTA, Commonpoint Queens, Emma's Torch, and Hot Bread Kitchen. With these additions, the Foundation now supports a total of 10 impactful nonprofits in New York City.

Randy Moore, President of the CDR Foundation, expressed his enthusiasm about supporting organizations that empower youth and untapped talent. He stated, "The CDR Foundation is pleased to support these five dynamic organizations, all of which help young people and untapped talent access the skills, resources, and professional networks needed to thrive in employment". This approach not only addresses the immediate needs of the community but also aims to establish pathways to sustainable employment.

The selection process for these TSPs was a collective effort involving CDR’s New York Foundation Grants Service Council, a team composed of partners and employees dedicated to overseeing the governance of the Foundation. This 16-member council plays a crucial role in evaluating applications, interviewing leaders of nonprofit organizations, and ultimately making recommendations for grants that are then approved by the Foundation’s Board of Directors.

Don Gogel, Chairman of both CDR and the CDR Foundation, highlighted the importance of employee engagement in community service: "CDR's culture is anchored in talent, initiative, respect, and perseverance. The Foundation provides our employees with ways to meaningfully demonstrate these values and deepen their impact by working with effective local organizations". This initiative reflects the firm’s commitment to enhancing the workforce development landscape in New York City.

About the Recipient Organizations

1. Ali Forney Center: Dedicated to protecting LGBTQ+ and at-risk youth from homelessness, the center equips over 2,000 young people annually with essential tools for independent living through a variety of services, including medical and mental health care, and workforce programming.

2. BASTA: This organization focuses on closing the employment gap for first-generation students and diversifying workforce leadership, striving to uplift underrepresented voices in the job market.

3. Commonpoint Queens: Committed to improving the quality of life for individuals and families, this organization offers robust workforce programs to ensure long-term economic stability for vulnerable populations in the community.

4. Emma's Torch: This nonprofit empowers refugees, asylees, and survivors of human trafficking through culinary education and workforce development, helping them find meaningful employment.

5. Hot Bread Kitchen: Utilizing New York's food industry, this organization creates economic opportunities for those facing barriers to employment through job skills training and various support programs.

The CDR Foundation continues to make strides in enhancing economic access and opportunities for New Yorkers, demonstrating that collaborative efforts between businesses and nonprofits can effectively tackle systemic inequalities in workforce development.

For more information about the CDR Foundation and its mission, please visit CDR Foundation Website.