ATLANTA – (RealEstateRama) – Operation HOPE announced today that The Marie-Josée and Henry R. Kravis Foundation has donated $1 million to the organization. The donation will expand the work of HOPE through its nationwide HOPE Inside network and help extend the organization’s mission delivered under the banner of the Silver Rights Movement—the movement for rights to financial literacy, access to capital, and equity of opportunity, for all.
“We are honored to receive this generous gift from The Marie-Josée and Henry R. Kravis Foundation to directly expand the reach and impact of the work of HOPE,” said Operation HOPE Founder, Chairman and Chief Executive Officer John Hope Bryant. “I have known Mr. Henry Kravis for 20 years. I know him to be a pioneer on Wall Street, a role model among business leaders, and now a hero on Main Street. Our shared vision is to create a stronger, more inclusive economy—and by extension, society through financial empowerment—and financial dignity. The impact on families and communities as more people and more local businesses succeed; the new investments and jobs that come to communities where people are financially secure and young people have the skills to be productive, represent true community uplift and personal transformation.”
HOPE Inside, a unique financial empowerment model created by Operation HOPE to provide no-cost financial literacy coaching and education to participants through the support of financial and corporate partners, currently stands at more than 130 locations across the country. Core programming includes credit and money management, homeownership, and small business development. The model also includes HOPE Inside Youth, HOPE Inside Disaster, and HOPE Inside The Workplace, an employee financial wellness program that has been piloted in one of Mr. Kravis’ KKR portfolio companies with plans to expand in the future.
“I am so proud to support Operation HOPE in its mission. This organization doesn’t just focus on teaching the skills that people need to improve their finances. They also – and perhaps most importantly – teach people to believe in themselves through a financial coaching process that is driven by respect and dignity,” said Henry Kravis, chairman of The Marie-Josée and Henry R. Kravis Foundation. “Operation HOPE is not just transforming people’s credit scores, but their lives.”
In 27 years, Operation HOPE has served more than 4 million individuals and directed over $3.2 billion in economic activity into disenfranchised communities—impacting 1,467 U.S. cities and towns. Through the HOPE 700 Credit Score Communities initiative, the focus of raising client FICO scores to 700 is at the foundation of all HOPE Inside programming. Seventy-two percent of HOPE clients improved their FICO scores—35-point average—after 5.4 months, and a recent Accenture analysis reveals that Operation HOPE improves FICO scores at 2-3 times the rate of its peers.
For more information: www.OperationHOPE.org. Follow Operation HOPE on Twitter and Facebook @operationhope