Albemarle Foundation Donates $1 Million to Carolina Youth Coalition

Albemarle Foundation Donates $1 Million to Carolina Youth Coalition

The Carolina Youth Coalition (CYC) provides support for high-achieving, under-resourced high school students, or “Fellows", to access higher education. In January 2018, the Albemarle Foundation gave a grant to launch the nonprofit in Charlotte, and recently the Foundation donated $1 million to CYC to help ensure the nonprofit's ongoing success. CYC offers free out-of-school-time programming featuring personalized college application support, standardized test prep, writing coaching, college tours, 1:1 mentoring, connection to career exploration and scholarship opportunities, and social justice-based dialogue. The program begins with students as early as 10th grade and provides support to students throughout their time in college. In addition to the Foundation's gift, CYC also received an endowed scholarship - The Smith Opportunity Scholarship Fund - to provide gap scholarships, that bridges the funding gap between the total cost of attendance and the recipients' financial aid package.

“Corporate and personal philanthropy is changing lives," added Kathryn Kissam, CYC Co-Founder and Board Chair. “Through the generous support of the Albemarle Foundation and the Smith Family, we will be able to increase affordable access to college and ensure our youth have the academic, social, and financial support needed to persist through college and ultimately obtain social and economic equity in our communities and beyond."

In 2018, CYC was chosen through a competitive process by both the Albemarle Foundation and Bank of America as one of 17 nonprofits to receive a combined $20 million over five years to support economic mobility in Charlotte. Since 2018, CYC Fellows have earned over $20 million in scholarships and grants and have accepted a total of $7.3 million. Most importantly, 57% of all Fellows who are attending four-year universities are attending debt-free. CYC Fellows are currently attending colleges and universities across the Carolinas and the country including Berea College, Brown University, Furman University, Georgetown University, University of Miami, North Carolina State, UNC-Chapel Hill, UNC Greensboro, University of Pennsylvania, Queens University, Wake Forest University, Wofford College and more. Of the CYC's college and high school Fellows 2019-2020 class, nearly 90-percent are Black or Latino and 91-percent are first-generation college students. These Fellows earned 216 total college acceptances, with nearly $15.5 in scholarships. 

“The Albemarle Foundation has been involved with CYC since its inception, and this recent pledge of $1 million in funding ensures its continued success in the Charlotte community," said Sandra Holub, Executive Director of the Albemarle Foundation. “There are many ways to engage with CYC, as volunteers, mentors, and donors. Albemarle and our employees fully embrace and thoroughly exemplify our core value of CARE. We encourage other corporations and organizations to do the same, to get involved and be a bright beacon of hope and change to our most valuable resource, the promising youth in our community," 

For more information about the Carolina Youth Coalition visit: www.carolinayouth.org.