Strengthening our communities
Introduction
Joan Christel
President, State Street Foundation
“As a global firm, we recognize the important role we play in supporting the economic vitality of our communities. Being a good corporate citizen drives employee engagement, enhances our reputation with clients and builds public trust while fostering a positive impact on society.”
State Street Foundation
Through State Street Foundation, our philanthropic arm, we make grants to charitable organizations that are helping to reduce equity gaps in educational achievement and employability, to promote economic opportunity in the communities where we live and work.
By the numbers
Total Global Giving by State Street Foundation in 2023, including employee matching gifts, grants to nonprofit organizations and other support
Invested in nonprofits working to close equity gaps in educational and employment outcomes in 2023
Invested in other grants in 2023, including disaster relief and volunteer efforts
Programs
A focus on equity
State Street Foundation’s grantees work with populations facing systemic inequities and barriers to advancement in education and employability. In North America, we focus on uplifting Black, Indigenous, People of Color (BIPOC) communities. More than 70 percent of the charitable organizations State Street Foundation supports in our eastern Massachusetts headquarters region are led by BIPOC leaders.
In Europe and the Asia Pacific region, State Street Foundation focuses on the following priority populations in APAC and EMEA:
- Women
- People with Disabilities
- Socially disadvantaged groups, immigrants, refugees, asylum seekers, indigenous people, ethnic minorities, people of color (specific population and terminology varies by country)
This focus is a result of our work with Charities Aid Foundation UK and Myriad USA (formerly Give2Asia) who researched on systemic drivers of inequity and barriers to advancement and access in education and employability in the countries where State Street Foundation makes grants. We are pleased to make this industry-leading, and groundbreaking research available.
Funding college readiness
Since 2020, State Street has invested over $8 million in Early College, our signature Boston-area grantmaking initiative. Through Early College, high school students take strategically sequenced, actual college classes with strong career orientations during their regular high school day, at no cost to themselves or their families. Early College students receive enhanced academic and guidance support to help them thrive in the rigorous college coursework and in the unfamiliar, and sometimes daunting, college environment. They graduate from high school with significant college credits, reducing the cost and time to degree completion.
Matching gifts program
Our matching gifts program monetizes employee volunteer time, matches their personal donations and supports their charitable fundraising efforts that help us to further support our local communities.
Contact us
Organizations whose missions align with our strategic priorities are encouraged to review our Grantmaking Guidelines. If there appears to be alignment, we welcome you to submit an Expression of Interest to initiate the application process. The deadline to submit an EOI is December 31 to be considered for the following calendar year.
Employee volunteerism
Our employee volunteer program, State Street Volunteers, aims to help our communities thrive through service that closes equity gaps while also engaging and up-skilling our employees.
By the numbers
Hours volunteered by employees in 2023
Of volunteer hours that were skills-based in 2023
Days of paid volunteer leave for every employee
Programs
Skills-based volunteering
Our employee volunteers leverage their professional skills in a variety of ways to help State Street Foundation-supported charities. Whether creating a centralized and more efficient data collection process, or designing a compelling annual report, our employees make meaningful impact on our community partners.
Team and individual volunteering
We encourage all employees to volunteer with the organizations that matter to them, whether as a team or individually. We provide 32 hours of paid volunteer time annually for each employee.
Corporate Citizenship Councils
Our Corporate Citizenship Councils (CCCs) are comprised of employees dedicated to service in their office locations. Our CCCs around the world facilitate meaningful volunteer projects for their colleagues, providing them with opportunities to give back to their local communities. CCCs also direct State Street Foundation grant funding to local charitable organizations.