(May 16, 2006 – Washington, DC) Corporate Voices for Working Families today released the Corporate Voices After School White Paper that found the contributions of just eight American companies directly to local after school programs is more than 13 percent of the federal dollars that went directly to after school programs in 2005. The eight companies invested $136.6 million in 2005 with more than $1 billion invested over the last five years.
“The federal government invested $981 million dollars in after school funding in 2005 through the 21st Century Community Learning Centers program,” said Donna Klein, President and CEO of Corporate Voices for Working Families. “These eight companies are just a tiny sampling of corporate investment, but the $136.6 million invested by these eight companies – alone – represents more than 13 percent of what the entire federal budget is for after school.”
“If you extrapolate and looked at what the ‘Working Mother 100 Best Companies’ spent on after school programs, it is staggering to see the impact corporate America is having on the future of America’s youth through structured programs,” continued Klein. “This is just a broad look at how employers are addressing a societal need that is not being met with enough federal funding. As the issue of after school continues to grow in importance, we hope this report will provide a valuable roadmap for increasing interest and effectiveness of corporate investment in this critical area.”
The telephone interviews are just a small sampling of Corporate Voices member companies in which participants were asked about dollars invested in after school initiatives. In addition, participants were also asked about in-kind donations, expertise, leadership, partnerships, and employee programs that complemented their financial investment. Companies ranged in size from 165 employees to 150,000 and represented a variety of businesses including utilities, finance, insurance, and retail.
“The dollars invested can easily be calculated,” continued Klein. “What cannot be calculated is the vast amount of additional and in-kind resources these companies have invested in local after school programs.”
Examples of in-kind investments include:
Tutor and mentor programs of inner city children at the corporate headquarters where the corporation provides the facilities, refreshments, and transportation to and from the after school program;
Donations of used computers with technical assistance, training and on going support to sustain computer labs and high tech centers;
Financial literacy curriculum for children, parents, and school staff sponsored by financial companies;
The development of a statewide database of after school programs;
Outlets for the disseminations of parent and consumer education literature provided by retail companies;
“All the companies interviewed have learned that the needs of after school are a societal need, “ concluded Klein. “But the partnership and dedication of the companies, employees, students and volunteers is what make the whole program work.”
Companies surveyed include: Allstate, J.C. Penney, Knowledge Learning Corporation, LifeCare, Philip Morris, Providian, Prudential, Public Service Gas and Electric.
Corporate Voices for Working Families is a non-partisan non-profit corporate membership organization created to bring the private sector voice into the public dialogue on issues affecting working families. Collectively our 52 partner companies employ more than 4 million individuals throughout all fifty states, with annual net revenues of $800 billion. Over 70 percent of our partner companies are listed in the Fortune 500, and all share leadership positions in developing family support policies for their own workforces. This experience is the primary asset Corporate Voices brings to the ongoing dialogue with policy makers and other stakeholders.
