Intense competition for quality jobs is increasing as workers fall behind in the skills and education needed to qualify for these jobs. Many of America’s youth in the lower economic class are struggling to compete in our relenting economy, as to have opportunities in their future to support themselves. Fortunately there are corporations that “step-up” to mentor and finance programs for these youths.
MasterCard Worldwide is one of these companies that support these groups and has given a $1 million grant to the Network for Teaching Entrepreneurship (NFTE) to support entrepreneurship education programs geared toward middle and high school students in low-income communities across the United States.
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide.
The MasterCard grant will support NFTE’s core U.S. school-based youth entrepreneurship program that provides hands-on learning and classroom lessons on mathematics, analytical skills and management and planning. MasterCard employees will also have an opportunity to get involved as volunteer educators; helping to create digital “master classes” that teachers across the world can access on-demand to supplement their daily lessons.
MasterCard’s commitment also extends to supporting the NFTE University, a comprehensive suite of technical assistance and professional development programs to equip teachers to be more effective. This includes support for NFTE’s digital teacher network and in-person events, as well as NFTE’s annual Global Enterprising Educators of the Year Awards.
“Our support of NFTE and its inspiring programs expands MasterCard’s commitment to empower today’s youth to realize successful futures through entrepreneurship and educational empowerment,” said Patricia Devereux, group head, Corporate Philanthropy & Citizenship at MasterCard Worldwide. “NFTE teaches students the fundamentals of becoming financially independent by keeping them on a path to high school graduation and, in some cases, running their own businesses. We are delighted to help fuel their path to success.”
NFTE is a global 501(c) (3) nonprofit and a pioneer in using entrepreneurship education as a key lever for unlocking the potential of at-risk youth in low-income communities. As the centerpiece of NFTE’s program, students create and present an original business plan based on their own special interests and talents.
As students progress through the course, they participate in a variety of activities, including field trips to local businesses, buying/selling events, competitions and mentorships with local community business people. Over the past two decades, more than 350,000 NFTE graduates have been taught the fundamentals of becoming financially independent by running their own businesses.
“In its daily business activities and corporate philanthropic commitments, MasterCard is uniquely positioned to support our mission to promote the entrepreneurial spirit in America’s youth,” said Amy Rosen, president and CEO of NFTE. “Through the generous contributions of corporate partners, we can encourage more of today’s youth to not only stay in school, but recognize business opportunities and go after their dreams.”