BlackRock Foundation Supports Economic Mobility in Dallas County with $4 Million Commitment to Support College and Career Readiness

• Philanthropic grant from The BlackRock Foundation to support The Commit Partnership (Commit) and Education is Freedom (EIF) to promote economic mobility in Dallas County.
• Funding will help expand access to educational and career exploration opportunities for 31,000 Dallas County students over the next two years.

Dallas, TX - October 16, 2024 - Today, The BlackRock Foundation announced a $4 million philanthropic commitment to The Commit Partnership (Commit), the largest education-focused collective impact organization in the nation. The funding will expand access to high-quality college and career advising to over 31,000 Dallas County students over the next two years, with a plan to increase high school graduation rates to 87% by 2028.

Commit unites school systems, higher education institutions, policymakers, businesses, and nonprofits to create systemic changes in educational systems in order to improve postsecondary attainment rates and career outcomes for all Dallas County residents. With BlackRock's support, Commit will work with several partners including Education is Freedom (EIF), a local college and career advising group which seeks to increase living wage attainment for students by expanding access to pathways towards high-demand, high-wage jobs.

"Working with local education and nonprofit leaders to empower the next generation workforce is critical to economic security and prosperity," said Claire Chamberlain, President of The BlackRock Foundation and Global Head of Social Impact at BlackRock. "In line with The BlackRock Foundation's mission to help more people earn, save and invest - earlier, more often and for their futures - we are pleased to be supporting the growth and success of Dallas County students."

EIF currently serves more than 19,000 high school students across Dallas, Garland, and Grand Prairie school districts. The BlackRock Foundation's grant to Commit will expand EIF's capacity to onboard two more districts, and to engage students in programming as early as middle school. The funding will also enable EIF to partner with the Dallas County Promise and further develop strategies that support students through their postsecondary transition, including helping families navigate the process and by providing financial literacy education and additional college persistence supports.

"At Education is Freedom, our mission is to transform lives through education," says EIF CEO, Susanna Russell. "This grant from The BlackRock Foundation promises to be truly transformational, both for our organization and ultimately for all of the tens of thousands of Dallas County students we are honored to serve."

"Texas and Dallas County have an incredible opportunity at this moment," says Commit CEO and Founder, Todd Williams. "Our state has passed historic, student-centered policies related to the financing of our K-12 school systems and community colleges, creating the potential for our local educational institutions to generate up to an additional $300M in annual funding meant to reward improved student outcomes. This initial philanthropic investment will serve as a significant catalyst for the improved student outcomes that can eventually provide sustainable public resourcing in perpetuity."

Today's announcement is part of a larger effort at The BlackRock Foundation to expand economic security across the US by empowering the next generation of Americans with education and career opportunities. Since 2019, BlackRock has invested $35M in philanthropic efforts to champion economic mobility by helping people earn more, impacting more than 120,000 people around the world.[1]Over that same time period, BlackRock's philanthropic program contributed $31M and created BlackRock's Emergency Savings Initiative focused on helping people build up short-term savings, reaching an estimated 10 million Americans.

About The Commit Partnership

The Commit Partnership unites school systems, higher education institutions, policymakers, businesses, and nonprofits to create systemic changes in our educational system in order to break the cycle of economic inequity in Dallas County and across Texas. Their true north goal is that, by 2040, at least half of Dallas residents aged 25-34, irrespective of race, will earn a living wage.

About Education is Freedom

Education is Freedom (EIF) founded in 2002 by a visionary group of corporate leaders who aspired to create a world where every young person can pursue a college education. EIF remains dedicated to developing an educated workforce capable of building successful companies and thriving communities in today's knowledge-driven economy.

About The BlackRock Foundation

Created in February 2020, The BlackRock Foundation focuses on creating economic security and mobility for underserved communities by helping families earn, save and invest for their financial futures.