The FINANCIAL -- The Deutsche Bank Americas Foundation, the philanthropic arm of Deutsche Bank in the United States, on August 11 announced the grant recipients for its new College Ready Communities Initiative, which is designed to connect community revitalization with education reform efforts in low-income neighborhoods in New York City. 

"The two-year effort, funded through a $2 million grant from the Bill & Melinda Gates Foundation with matching funds through the Deutsche Bank Foundation, will create collaborative projects among community based organizations that are working to improve middle and high school educational outcomes and support college readiness initiatives," The Deutsche Bank report said.

In announcing the grant recipients, Gary Hattem, President of the Deutsche Bank Americas Foundation, said, "There is too much talent going to waste in our neighborhoods. The same entrepreneurial spirit of local residents and organizations that led to the revitalization of so many of our communities now needs to be put to work to build a culture of academic success. College Ready Communities harnesses these unique capabilities in places where this shared intent will be given a chance to prove itself."

The awardees were announced at an event hosted by the Deutsche Bank Americas Foundation
at the Thurgood Marshall Academy for Learning and Social Change, a school launched by the Abyssinian Development Corporation.

"Fostering a 'college going culture' is not something that ends at the schoolhouse door. College Ready Communities Initiative gives community organizations resources to help us work together more effectively to reach more young people and families. This is critical in times when the need persists and every dollar needs to stretch even further," said Rev. Dr. Calvin O. Butts, III, Pastor of the Abyssinian Baptist Church and Chairman and founder of the Abyssinian Development Corporation.

The partnerships are as follows:

Cypress Hills Local Development Corporation/Make the Road New York/Urban Youth Collaborative
Abyssinian Development Corporation/The Brotherhood Sister Sol/Coalition for Educational Justice
Internationals Network for Public Schools /The South Bronx Overall Economic Development Corporation/Make the Road New York
Asian Americans For Equality/Coalition for Asian-American Children and Families

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