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Pacific Life Foundation Donates $1 Million to American College
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Donation to College's Center for Economic Empowerment and Equality Helps Create Sustainable Economic Change
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The Pacific Life Foundation’s $1 million transformational grant to the American College of Financial Services Center for Economic Empowerment and Equality will focus on removing barriers to financial security and wealth building in underserved communities. Announced in November of 2021, the five-year partnership will provide upward mobility and wealth building for Blacks, Latinos, Asians, Women, and other marginalized groups.
“Addressing the racial wealth gap and creating economic mobility starts with uplifting underserved communities and committing to lasting community-focused solutions,” said Jim Morris, chairman, president and CEO, Pacific Life and chairman of the Pacific Life Foundation. “The education and empowerment of Black financial professionals and the Black community is of paramount importance to the financial services industry’s future and growth. We’re proud to partner with The American College’s Center for Economic Empowerment and Equality in support of its efforts as it writes a new narrative around economic equity.”
Committed to narrowing the wealth gap and promoting economic justice with collective, community-focused solutions that last, the Center for Economic Empowerment and Equality is working with corporate America, nonprofit organizations, and government agencies to create a new reality. Through research, thought leadership, curriculum and course development, programming, and scholarships, the Center aims to cultivate lasting relationships between financial services and all underserved communities.
The initial focus of the Pacific Life Foundation funding specifically will include financial education for Black America, with a focus on Black Women; career pathways and training for Black financial professionals; and an executive leadership program for up-and-coming Black leaders. Through a partnership with the Society for Financial Education & Professional Development (SFE&PD), the American College will amplify a peer-to-peer financial education program in historically black colleges and universities (HBCU), implement train-the-trainer education programs, and provide access to an eLearning solution, College events, and scholarships.
This commitment to The American College Center for Economic Empowerment and Equality is just a first step in a thoughtful and impactful journey to create sustainable economic change. As a long-standing partner with a proven track record of success, The American College will be a key driver in designing and executing culturally relevant models for growth. Pacific Life is looking forward to being an integral part of the research and collaboration that builds a lasting infrastructure to support sustainable, generational solutions.
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