New York Life Foundation Grants $200,000 to Network for Teaching Entrepreneurship

NEW YORK, May 9, 2011 /PRNewswire/ -- The New York Life Foundation today announced a $200,000 grant to Network for Teaching Entrepreneurship (NFTE) to support expanding entrepreneurship education programs to low-performing students in New York City and Westchester County, New York; and Chicago, Illinois.  The support will enable NFTE to serve at least 1,800 new students during the 2011/12 school year.

"The New York Life Foundation is pleased to support NFTE because their programs inspire young people from at-risk communities to stay in school, recognize business opportunities and to plan for successful futures," said Chris Park, president, New York Life Foundation.  "NFTE engages students in ways that helps them realize that core school subjects are relevant to the rest of their lives and can help them succeed in school and beyond."

"We are grateful for New York Life Foundation's support of entrepreneurship education and inspiring young people to pursue educational opportunities, start their own businesses, and succeed in life," says NFTE's President and CEO, Amy Rosen.  "Through our experiential 'business building,' students' academic skills improve which positively impacts their math and language skills, builds critical thinking and problem solving skills and raises students' expectations for themselves ― the biggest indicator of future success."

In New York City, this grant will allow NFTE to work with two programs within the school system that target some of the hardest to reach young people.

• District 79 — which is comprised of schools serving students who need additional support or alternative pathways in order to succeed, including currently or formerly incarcerated youth; chronically failing students and all GED seekers; and
• Transfer Schools — serving students who are behind or who have already dropped out of school.

In Westchester County, New York Life Foundation support will specifically help NFTE reach over 300 Westchester students from lower income households that attend Mount Vernon High School, Thornton High School, Lincoln High School, Gorton High School and Roosevelt High School.

The NFTE has been operating in Chicago since 2003.  They have a district-wide partnership with the Chicago Public Schools and the NFTE curriculum has been chosen as the lead "business" curriculum in the district.  This year, they will serve 1,800 students in 28 schools throughout Chicago's lowest income communities.  This grant will help NFTE grow by 22 percent to serve five additional schools and expand programs in at least five other current NFTE schools to ultimately reach an additional 400 students.  Chosen schools have drop-out rates of at least 50 percent, 85 percent or more of the students receive free/reduced lunch (indicating their poverty level), and they are listed in the bottom five percent of schools in Illinois for achievement.

About The New York Life Foundation

Inspired by New York Life's tradition of service and humanity, the New York Life Foundation has, since its founding in 1979, provided more than $140 million in charitable contributions to national and local nonprofit organizations. Through its focus on "Nurturing the Children," the Foundation supports programs that benefit young people, particularly in the areas of safe places to learn and grow, educational enhancement opportunities and childhood bereavement. The Foundation also encourages and facilitates the community involvement of employees, agents, and retirees of New York Life through its Volunteers for Life program. To learn more, please visit the Foundation's Web site at www.newyorklifefoundation.org.

About Network for Teaching Entrepreneurship

Network for Teaching Entrepreneurship (NFTE) provides entrepreneurship education programs to young people from low-income communities. NFTE's vision is that every young person will find a pathway to prosperity. Since 1987, NFTE has worked with more than 280,000 young people. NFTE currently operates programs in 21 states and 12 countries and has over 1,500 active Certified Entrepreneurship Teachers. For more information, visit www.nfte.com.

SOURCE Network for Teaching Entrepreneurship

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