As part of its multi-year, combined $140 million investment to address racial inequity in the United States of America, NIKE, Inc. has recently announced its partnership with Goalsetter, which includes a $1 million donation.
Founded and led by Tanya Van Court, Goalsetter is a financial literacy platform geared toward youth, and the only one run by a Black and female-identifying entrepreneur. The organization engages young people through digital content – including interactive games and celebrity testimonials – to help them better understand both financial “well-being” and the importance of saving for the future. Although Goalsetter advocates for everyone in America to start saving, it highlights the life-changing impact that financial literacy has historically had on Black and Latinx Americans: On average, kids who own a savings account are more likely to attend college and own stocks, which are two vehicles that’ve reversed generational wealth gaps.
“At [NIKE, Inc.], we have a long history of speaking up for causes that reflect our values,” Craig Williams, President of Jordan Brand. “Our partnership with Goalsetter is one way Nike, Jordan and Converse seek to transform how U.S. families, and in particular Black youth, access financial education and in turn, feel empowered to reach their goals.”
Furthermore, the North American sportswear conglomerate has announced $2.75 million-worth of grants through its Black Community Commitment platform. Grantees include local organizations in Portland, Ore., Chicago, Boston, St. Louis and other cities that are promoting social justice, education and economic empowerment within the Black community. Each of the seven cities selected for this initiative will be granted a yearly grant of $250,000 for four years. Some of the groups to which NIKE, Inc. has pledged financial support include: America On Tech, Airway Science For Kids and Word Is Bond.