Chairman John Hope Bryant’s Mid-Year Impact Report
The past few years have been transformational for Operation HOPE, ushering in unprecedented growth, scale, visibility, and most importantly, impact. To date, 2022 has continued on that trajectory and shows no signs of slowing down. As we approach the halfway mark of the year, we are pleased to share some highlights.
In May, Operation HOPE celebrated its 30th anniversary and returned to our Los Angeles roots, in South Central Los Angeles, much as we began back in 1992. We co-hosted a Community Bus Tour with Los Angeles Mayor Garcetti for local public and private sector leaders, witnessing places where much of the unrest unfolded and those where the healing began.
We stopped at the corner of Florence and Normandie, the flashpoint for the unrest that evolved over those three days. We were joined by Mayor Garcetti for a press conference that included Rodney King’s daughter, the LAPD, and leaders from the Black and Korean communities in the spirit of healing, recovery, and self-determination. The event was covered by over 50 media outlets. You can read the front page feature from the Los Angeles Times HERE.
Our national HOPE Inside network continues to grow: in communities, financial institutions, municipalities, and workplaces. We are currently operating in nearly 200 cities across the U.S., and are pleased to have received new and renewed commitments from organizations including Wells Fargo, NFL, Dollar General, Citizens Bank, Santander and UPS.
With a goal to move economically disadvantaged young people from poverty to prosperity, Operation HOPE, the City of Atlanta and Atlanta Public Schools announced a Child Savings Accounts initiative designed to help Atlanta students begin saving for a better future. Starting this fall, every incoming kindergarten student in a Title I school will be eligible to receive a savings account. Research shows that 4 in 5 children with a savings account end up attending college, with 3 in 5 graduating. Learn more HERE.
I was honored to co-author an op-Ed with Walmart CEO Doug McMillon published in TIME and calling for a national, private-sector-led movement of Financial Literacy for All. You can read the full piece HERE, which led to an extensive conversation with CNN International’s Julia Chatterley, which you can view HERE.
Financial Literacy for All continues to gain momentum, with new members including BlackRock, Denison Yachting, Edward Jones, FICO, First Horizon, iHeart Radio, Mastercard, NASCAR, Nasdaq, NIKE, Santander, Shopify, TIME, Truist, Uber, U.S. Bank, and Wells Fargo joining founding members Walmart, Disney, Delta Air Lines, NBA, NFL, PayPal, Walgreens, Bank of America and Khan Academy. If you’re interested in becoming a Financial Literacy for All partner, please contact Mary Ersham, firstname.lastname@example.org, or Kevin Boucher, email@example.com.
On April 5, “Financial Literacy for All” (FL4A) rang the Opening Bell at NasdaqHeadquarters in Time Square. I was thrilled to be joined by FL4A member companies as we “rang in” Financial Literacy Month. You can watch a recap of the day HERE. Prior to the bell ceremony, we joined Andrew Ross Sorkin on CNBC’s Squawk Box to discuss the state of financial literacy in America. You can watch the interview HERE.
On May 20, HOPE Global Forums hosted a Cryptocurrency and Digital Assets Summit, co-hosted by myself and U.S. Comptroller of the Currency Michael Hsu. We convened prominent regulators, trading platforms, asset creators, public officials, thought leaders, traditional financial services, and everyday investors to examine the opportunities, challenges, and unknowns related to this new asset class – with a specific focus on impacts on underserved communities. We will continue to be a major proponent of safeguards for new investors, in both digital and traditional markets, through the Investors’ Bill of Rights and our other work. You can view highlights of the Crypto Summit HERE.
HOPE and Experian have partnered to launch a “first-of-its-kind” Financial Wellness Index, otherwise known as the HOPE 700 Credit Score Index, which provides a zip code level breakdown of credit scores, allowing users access to a snapshot of a community’s financial wellbeing, which is indicative of its overall wellbeing (health, crime, education, homeownership, small business startups). You can view the index HERE.
The One Million Black Business Initiative (1MBB) continues to expand its footprint. The program has garnered new commitments from municipalities including the City of St. Louis and city of Jackson, Mississippi. Other organizations joining the movement include the U.S. Small Business Administration, the Atlanta Black Chamber of Commerce, Phi Beta Sigma, Kappa Alpha Psi and New Birth Missionary Baptist Church in Lithonia, Georgia, together are committed to fostering the development of up to 200,000 Black-owned businesses over the next decade.
On a final note, we are honored to have received our 8th consecutive 5-star rating from Charity Navigator, which speaks to our fiscal responsibility and integrity, placing us amongst the top 7% of all nonprofits.
We are in a special place during a unique time. Even after 30 years, I am as energized as ever and excited about what the future holds, for the rest of 2022 and beyond. I look forward to your continued support and partnership as we continue our work advancing economic opportunity for everyone.
Chairman John Hope Bryant