Applications for schools interested in participating due May 31
FS Investments to host “Shark Tank”-style competition for program participants on April 30
PHILADELPHIA – April 29, 2019 – The FS Foundation, the philanthropic arm of FS Investments, today announced the opening of the application period for its 2019 FS Financial Scholars program, a financial literacy and entrepreneurship initiative created in collaboration with the University of Pennsylvania. The FS Foundation will fund additional programming in three Philadelphia high schools this year, increasing the size of the program to 14 schools. To qualify for the program, schools are required to complete an application process that also outlines criteria for partnership.
FS Financial Scholars is a program designed to provide high school students with the tools needed to generate greater wealth and achieve financial empowerment. The program utilizes a combination of in-class financial literacy curriculum and after-school entrepreneurship programming for students, along with evening and weekend-based financial literacy education for parents. The program is supported by Bridges to Wealth, the broader community-based financial literacy efforts of Dr. Keith Weigelt, Marks-Darivoff Professor of Management at the Wharton School at the University of Pennsylvania, and Dr. Jill Bazelon, an instructor in the Graduate School of Education at the University of Pennsylvania.
“This program is the signature component of our philanthropic endeavors. We believe deeply that our education system needs to do more to prepare students for the economic realities of life after school and are pleased to provide resources to help,” said Mike Gerber, Senior Managing Director at FS Investments and President of the FS Foundation. “We are also proud to collaborate with Penn and are excited to expand the program to reach hundreds of new students with meaningful financial literacy and entrepreneurship education.”
The FS Financial Scholars program was piloted in 2016 and now includes Bodine High School for International Affairs, Boys’ Latin of Philadelphia Charter School, Central High School, Esperanza Academy Charter School, Freire Charter School, Sayre High School, School of the Future, TECH Freire Charter School and YouthBuild Charter, as well as The Murrell Dobbins Career and Technical Education High School and South Philadelphia High School, both part of Mayor Jim Kenney’s Community Schools initiative.
Otis Hackney, Chief Education Officer, City of Philadelphia added, “Through its FS Financial Scholars program, FS Investments continues to demonstrate its civic leadership in Philadelphia. We are particularly grateful for FS’s contributions to the Community School efforts at Dobbins and South Philadelphia High School. This partnership benefits students and their families by expanding access to financial skills and supporting their economic stability. This complements the training offered by Community School partners and builds on our efforts to prepare students for successful and meaningful careers, making our city even stronger.”
In connection with the launch of the application process, the FS Foundation announced it will host a “Shark Tank”-style competition at FS Investments headquarters on April 30. Students from three FS Financial Scholars partner schools – South Philadelphia High School, Murrell Dobbins High School and Freire Charter School – will compete by pitching a business plan to a panel of civic and business leaders. The students have prepared their pitches as part of the FS Financial Scholars after-school club with support from their teachers and Penn students. The competitors also had the opportunity to work with mentors from Penn and FS Investments for additional coaching. The winning team will be granted a $1,000 prize towards their business venture and enrollment in a summer business incubator program at Penn. Following the pitches, FS will host a celebratory reception for students, teachers, administrators, mentors and family.
The 2019 FS Financial Scholars application period begins today, April 29, 2019, and runs until May 31, 2019. Applicants must be affiliates of interested public, charter or private high schools located in Philadelphia County. Submissions will be reviewed on a rolling basis by representatives of the FS Foundation and Bridges to Wealth, who will notify schools regarding their acceptance into the program in June. The application can be accessed here.
About FS Investments:
FS Investments is a leading asset manager dedicated to helping individuals, financial professionals and institutions design better portfolios. The firm provides access to alternative sources of income and growth, and focuses on setting industry standards for investor protection, education and transparency.
FS Investments is headquartered in Philadelphia, PA with offices in New York, NY, Orlando, FL and Washington, DC. Visit www.fsinvestments.com to learn more.
About FS Foundation:
The FS Foundation is the philanthropic arm of FS Investments. It aims to positively impact communities through championing civic leadership, volunteerism and philanthropy at all levels of the firm. Visit www.fsinvestments.com/about/fs-foundation to learn more.
About Bridges to Wealth:
Bridges to Wealth is a cross-generational program empowering both youth and adults with vital entrepreneurial and life skills. The curriculum and courses aim to help participants learn to generate wealth through savings and investing. Participants develop leadership and business skills that support them whether they strive to be entrepreneurs or simply want to create more professional opportunities for themselves. In addition to FS Financial Scholars, Bridges to Wealth is currently engaged in several community-led efforts including, senior community centers, faith-based institutions and community health centers. Visit www.bridgestowealth.org to learn more.
FS Investments Media Team