BOSTON, Jan. 22, 2019 /PRNewswire/ -- John Hancock announced today that it is awarding over $1 million in grants through its MLK Scholars program to provide 630 Boston teens with paid summer jobs and leadership development opportunities at 58 nonprofit organizations. The annual million-dollar program, marking its 12th consecutive year, is a cross-sector collaboration led by John Hancock in partnership with Boston University, The Boston Globe, Partners HealthCare, and the City of Boston.
Boston students spend the summer working at non-profit agencies across the city, gaining valuable work skills and engaging on issues that affect their community. In addition to the work experience, all scholars complete an online financial education program and attend in-person leadership development forums at Boston University. The nonprofits receive direct funding from John Hancock to pay each MLK Scholar a summer salary.
"John Hancock is committed to fostering healthier, more equitable communities, especially in our hometown of Boston," said Thomas Crohan, assistant vice president and counsel, John Hancock Corporate Responsibility & Government Relations. "Our MLK Scholars program helps empower young people to improve their overall well-being by gaining important career readiness and financial capability, building positive relationships, and supporting good decision-making."
"Engaging our teens with financial education, valuable work experience, and interactions with leaders from around Boston not only helps them grow but is an investment in our City that will be evident for years to come," said Mayor Martin J. Walsh. "I applaud programs like John Hancock MLK Scholars as they truly make a difference in our students' lives."
In 2018, John Hancock expanded its partnership with leading educational technology innovator EVERFI to extend its digital financial education trainings to teens who participate in other summer jobs programs in Boston. As part of this three-year initiative, EVERFI is conducting a longitudinal study and releases impact data each year. 2018 findings1 reveal participating students experience higher levels of preparedness for financial tasks and confidence in practicing healthy financial habits, compared to Massachusetts teens not in the summer program. The survey also revealed the top goal for participants is to avoid taking on new debt with 60 percent making it a financial goal for the next five years.
"Financial knowledge and decision-making skills are key building blocks of sustainable financial well-being," said Meg Moyer, vice president, Research & Evaluation, EVERFI, Inc.
"By providing young adults with both education and opportunities to make real financial decisions with their own paychecks, John Hancock supports the development of both knowledge and skills. In our research, we saw that MLK Scholars participants were more likely than their peers to say they felt prepared to manage a budget, understand credit, and finance higher education -- all important financial skills they are now putting into practice."
The local non-profit organizations receiving MLK Scholars grants for 2019 are:
- Archdale Community Center Council, Inc.
- Artists For Humanity, Inc.
- Bikes Not Bombs, Inc.
- Bird Street Community Center
- Boch Center
- Boston Chinatown Neighborhood Center
- Boston Dance Alliance Inc.
- Boston Debate League
- Boston Landmarks Orchestra, Inc.
- Boston Partners in Education
- Boston Youth Symphony Orchestras, Inc.
- Boys and Girls Club of Dorchester
- Boys and Girls Club - West End House
- Boys and Girls Clubs of Boston – Mattapan Teen Center
- Boys and Girls Clubs of Boston – Yawkey Club of Roxbury
- Breakthrough Greater Boston, Inc.
- Businesses United In Investing Lending And Development (BUILD)
- The Calculus Project, Inc.
- Camp Harbor View Foundation
- Catholic Charities - St. Peter's Teen Center
- The Center For Teen Empowerment, Inc.
- Codman Square Health Center
- Community Rowing, Inc.
- Courageous Sailing Center for Youth, Inc.
- Crossroads for Kids
- Dana-Farber Cancer Institute
- The Dimock Center
- Future Chefs
- Foundation For Boston Centers For Youth & Families, Inc
- Freedom House, Inc.
- Harlem Lacrosse and Leadership Corporation
- Hyde Square Task Force
- Inquilinos Boricuas En Accion
- Leap Self-Defense, Inc.
- Madison Park Development Corporation
- Massachusetts Coalition For Occupational Safety & Health, Inc.
- Maverick Landing Community Services (MLCS)
- Museum of African American History
- Museum of Fine Arts
- Museum of Science
- New England Aquarium
- Partners for Youth with Disabilities
- Phillips Brooks House Association (PBHA)
- Polus Center for Social & Economic Development, Inc.
- Save The Harbor Save The Bay
- Sociedad Latina, Inc.
- South Boston Community Health Center
- South Boston Leadership Initiative, Inc.
- South Boston Neighborhood House, Inc.
- South End Technology Center
- Sportsmen's Tennis and Enrichment Center
- St. Mary's Center for Women and Children
- Summer Search
- UMass Boston – Urban Scholars Program
- Urban Farming Institute Of Boston
- Youth Enrichment Services, Inc.
- YouthBuild Boston
- Zumix, Inc.
MLK Scholars is believed to be the largest, most comprehensive, corporate-based summer jobs program of its kind in the nation. For more information regarding John Hancock's MLK Scholars Program, visit MLK Scholars.
About EVERFI
EVERFI, Inc. is the education technology innovator that empowers K-12, higher education, and adult learners with the skills needed to be successful in life. The company teams with major corporations and foundations to provide the programs at no cost to K-12 schools. Some of America's leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Twitter founder Evan Williams, and Google Chairman Eric Schmidt. Learn more at everfi.com.
About John Hancock and Manulife
John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions. Assets under management and administration by Manulife and its subsidiaries were over CAD$1.1 trillion (US$863 billion) as of September 30, 2018. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports approximately 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and college savings plans. Additional information about John Hancock may be found at johnhancock.com.
1 EVERFI's 2018 research summarizes the findings from more than 450 youth who responded to surveys between July 2 and August 27, 2018. Where possible, comparisons are made to state and national samples of learners participating in EVERFI's financial education course for high school students. All comparisons are drawn from responses collected before students began an EVERFI financial education course.
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SOURCE John Hancock
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