KeyBank Foundation Invests $3 Million in Eight Cleveland Area Non-Profit Organizations

Rhea-AI Summary

KeyBank Foundation has announced $3 million in grants to eight Cleveland area non-profit organizations for 2024. The funding will support workforce development, education, and initiatives for creating safe, healthy, affordable and inclusive communities. Recipients include the Cleveland Institute of Art, Boys & Girls Clubs of Northeast Ohio, Enterprise Community Partners, College Now Greater Cleveland, May Dugan Center, Cleveland Neighborhood Progress, The Cleveland Orchestra, and The Cleveland Museum of Natural History.

Since 2017, KeyBank has invested over $1.8 billion in the Cleveland market, focusing on affordable housing, community development, small business lending, and philanthropy. KeyCorp, headquartered in Cleveland, has assets of approximately $190 billion as of September 30, 2024, operating through approximately 1,000 branches and 1,200 ATMs across 15 states.

Positive

• Demonstrates strong community investment with $3 million in local grants
• Significant market presence with $1.8 billion in Cleveland investments since 2017
• Solid asset base of $190 billion as of September 2024
• Extensive operational network with 1,000 branches and 1,200 ATMs across 15 states

Negative

• None.

News Market Reaction

-0.16%

1 alert

-0.16% News Effect

On the day this news was published, KEY declined 0.16%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NORTHAMPTON, MA / ACCESSWIRE / December 5, 2024 / KeyBank
Chosen community organizations will use grant dollars to improve the lives of Northeast Ohioans

Today, KeyBank and the KeyBank Foundation proudly announced their support for eight exceptional nonprofit organizations in 2024, providing grants totaling $3 million. This significant financial contribution is aimed at empowering these organizations to further their missions of fostering positive change and growth throughout Northeast Ohio.

Specifically, grant funds will be directed toward critical areas such as workforce development, education, and initiatives focused on creating safe, healthy, affordable and inclusive communities. These efforts reflect KeyBank's unwavering commitment to nurturing the wellbeing of the clients and communities it serves, ensuring all have the opportunity to flourish.

"Some of the most impactful work we do takes place beyond the confines of our offices, in our communities where it truly matters," said Kelly Lamirand, KeyBank Cleveland Market President. "We firmly believe that these strategic investments will not only enhance the resilience of our communities but also infuse them with vibrancy and stability. I want to take this opportunity, on behalf of everyone at Key, to express our heartfelt gratitude to these organizations for their tireless dedication and daily contributions that help our hometown thrive."

The organizations that have been awarded funding from the KeyBank Foundation include:

• Cleveland Institute of Art

• Boys & Girls Clubs of Northeast Ohio

• Enterprise Community Partners Inc.

• College Now Greater Cleveland Inc.

• May Dugan Center

• Cleveland Neighborhood Progress, Inc.

• The Cleveland Orchestra

• The Cleveland Museum of Natural History

Since 2017, KeyBank has made community investments totaling more than $1.8 billion in its hometown Cleveland market, supporting affordable housing and community development projects; small business and home lending; and transformative philanthropy.

ABOUT KEYCORP

KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $190 billion at September 30, 2024.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

View additional multimedia and more ESG storytelling from KeyBank on 3blmedia.com.

Contact Info:
Spokesperson: KeyBank
Website: https://www.3blmedia.com/profiles/keybank
Email: info@3blmedia.com

SOURCE: KeyBank

View the original press release on accesswire.com

FAQ

How much did KeyBank Foundation invest in Cleveland non-profits for 2024?

KeyBank Foundation invested $3 million in eight Cleveland area non-profit organizations for 2024.

What is KeyBank's (KEY) total investment in the Cleveland market since 2017?

KeyBank has invested more than $1.8 billion in the Cleveland market since 2017, supporting affordable housing, community development, small business lending, and philanthropy.

What were KeyBank's (KEY) total assets as of September 30, 2024?

KeyBank reported total assets of approximately $190 billion as of September 30, 2024.