Announcing New MinneKIDS Grantees!

Contact:
Kristy Snyder, Policy & System Transformation Officer
Kristy@youthprise.org

FOR IMMEDIATE RELEASE

Youthprise has awarded a total of $300,000 to three partners across the state -- Greater Twin Cities United Way in Hennepin County, United Way of Central Minnesota in St. Cloud, and Healthy Communities Initiative in Rice County. An additional grant will be awarded to a Tribal Community to round out the cohort of four organizations. MinneKIDS, which stands for Minnesota Kids Investment and Development Act, is a state-funded pilot that seeks to provide eligible families with a $50 seed deposit into Child Savings Accounts (CSAs). Built on initial local and state investments in College Bound St. Paul, this effort aims to increase educational, racial, and socioeconomic equity for young people from birth. The awarded grantees will lead their communities to co-design a framework for state and local program implementation.

Research shows that children from low- to moderate-income backgrounds with more than $1 in a savings account are 3 times more likely to go to college and 4 times more likely to graduate. With CSAs, accounts are opened for babies at birth and seeded with an initial deposit, which grows through family contributions and incentives, such as saving matches. Eventually, savings help pay for post-secondary education or career training. At full capacity, MinneKIDS will jumpstart college savings for over 70,000 Minnesotan babies each year. Funding supports planning and design. Grantees and their local table of leaders will apply funding toward designing an equitable state system of CSAs for postsecondary expenses.

MinneKIDS grantees expressed their enthusiasm for the program, which also aligns with the state's goal of ensuring that 70 percent of Minnesotans attain a postsecondary credential or degree. "This opportunity empowers us to deeply engage with families from the day their child is born, fostering lifelong financial empowerment and excitement for learning," said Kelsey Duffy, Rice County representative from Healthy Communities Initiative. "The possibilities that lay ahead for developing CSAs for the youth in our communities makes us so grateful for the opportunity and for the community partners that have already stepped up to the plate to help move this noble work forward," said Alexis Lutgen, representative from United Way of Central Minnesota.

Youthprise is actively seeking a Tribal community to join the grantee cohort. Tribal communities interested in participating in this transformative initiative are encouraged to contact Melissa Mitchell, Director of Partnerships, at Melissa@youthprise.org for more information on how to apply.

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MinneKIDS is a state-funded initiative through the MN Department of Education that is facilitated by Youthprise, a youth-centered organization founded by the McKnight Foundation in 2011. Youthprise's mission is to increase equity with and for Minnesota's Indigenous, low-income, and racially diverse youth, ultimately giving rise to a Minnesota where outcomes for youth are no longer predictable by race, geography, or socioeconomic status. Professional learning and facilitation are also supported by the Midwest CSA Consortium. Their collaborative approach facilitates partnerships that impact youth in every region of Minnesota.

 

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