The Women’s Opportunities Resource Center, which provides loans primarily to the region’s small businesses, has turned to private donors as it faces federal funding cuts and has recently received support from Vanguard Group’s charitable arm, writes Joseph N. DiStefano for The Philadelphia Inquirer.
Vanguard Charitable is “embarking on a new strategic philanthropic focus on financial well-being” to “improve the economic outlook for historically marginalized individuals and communities,” said the foundation.
It is working “to strengthen the nonprofit financial ecosystem” in the Philadelphia area. This is the home of its Malvern headquarters and over 10,000 employees, as well as other “key Vanguard markets.”
Evan Cantiello, a Vanguard Charitable program manager, confirmed during a WORC event last week that the company will be supporting the organization.
The company will fund a major expansion of WORC’s client savings account programs, which help participants build assets for education and homeownership by matching every dollar they save with up to two more.
The aid will fund program operations and expand participation to about 215 savers annually, nearly six times the current number of 35.
Read more about Vanguard Charitable being a donor to the Women’s Opportunities Resource Center in The Philadelphia Inquirer.
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