Bank Foundation Backing Pre-K Proposal

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An early childhood education effort spearheaded by Indianapolis Mayor Greg Ballard has received a boost from the private sector. The PNC Foundation is pledging $500,000 toward a proposed pre-kindergarten program for underprivileged kids. September 25, 2014

News Release

INDIANAPOLIS, Ind. - An early education initiative supported by Indianapolis Mayor Greg Ballard and local business leaders has received a pledge of $500,000 from the PNC Foundation.

"This is a time of great opportunity and promise for early childhood education in Indianapolis. Research shows that 90 percent of a child's brain is formed by the time he or she is 5 years old, and we recognize that access to quality early childhood education has the potential to positively influence the trajectory of the lives of young children," said Connie Bond Stuart, PNC regional president of Central and Southern Indiana, speaking on behalf of the PNC Foundation.

Indiana is one of only 10 states without state-funded preschool program for underserved children. Central to this initiative is a commitment to address some of the "root causes" of poverty and crime through investments in quality early childhood education programs for at-risk children.

Bond Stuart continued, "Indiana businesses need a capable workforce, especially as we compete in a world economy fueled by knowledge and skills. PNC's funding support will be contingent upon the willingness of Mayor Greg Ballard and City-County Council to act now on a plan to expand access to high-quality preschools in Indianapolis. The city has a viable opportunity to provide life-changing help to hundreds, eventually thousands of vulnerable children."

The pledge was made in support of Grow Up Great, PNC's signature $350 million, multi-year bilingual initiative to improve early childhood education, with a focus on underserved populations.

The PNC Foundation, which receives its principal funding from The PNC Financial Services Group (www.pnc.com), actively supports organizations that provide services for the benefit of communities in which it has a significant presence. The foundation focuses its philanthropic mission on early childhood education and community and economic development, which includes the arts and culture. Through Grow Up Great, its signature cause that began in 2004, PNC has created a $350 million, multi-year initiative to help prepare children from birth to age 5 for success in school and life.

Source: The PNC Foundation