Square Financial Services Launches Grant Initiative to Drive Community Development in Utah
August 26 2024 - 1:00PM
Business Wire
- Square Financial Services and the Community
Foundation of Utah will award microgrants of at least $2,400 to 24
local nonprofits
- This year’s launch follows the program’s
success in 2021 and 2022 during which more than $100,000 was
provided to Utah-based organizations
- Initiative is focused on driving community
development work in line with Block’s purpose of economic
empowerment
Square Financial Services, a Utah state-chartered industrial
bank and an independently governed subsidiary of Block, Inc., today
opened applications for the 24 Squared grant initiative in
partnership with the Community Foundation of Utah (CFU). Building
on the success of the 22 Squared grant initiative in 2022, the
program will award microgrants of at least $2,400 to 24 501(c)(3)
nonprofit organizations focused on community development
initiatives throughout Utah.
In line with Block’s purpose of economic empowerment, the
microgrants are intended for Utah-based nonprofits that engage in
at least one of the following pillars of community development
work: small business development, affordable housing, reentry
support and entrepreneurship, and financial capability and
wellness.
“The 24 Squared program supports businesses that otherwise would
not be funded, are underserved, and/or need funding to get their
start or grow to the next step. The generous grant from this
initiative was used to help fund the operations powering our
programs and services,” said Sara Day, Program Manager at Utah
Microloan Fund, a microgrant recipient in 2022. “Without support
from organizations like Square Financial Services, we could not do
the work that we do.”
In its prior two years, the 24 Squared grant initiative has
attracted widespread interest from regional nonprofits, awarding
more than $100,000 to recipients across 15 cities in Utah. This
effort has resulted in the funding of key organizations focused on
critical community development work in both rural and urban areas
throughout the state.
“After seeing the critical work that our microgrant program has
helped fund over the previous two years, we knew that we wanted to
provide more opportunity for impact and bring back the program in a
bigger way in 2024,” said Lewis Goodwin, Chief Executive Officer of
Square Financial Services. “We’re grateful for the Community
Foundation of Utah’s continued partnership as we provide more
funding to more organizations that are working to better Utah
communities.”
"CFU is thrilled to partner for the 24 Squared Grant initiative
for the third year," said Alex Eaton, Chief Executive Officer of
the Community Foundation of Utah. "This dynamic grant program plays
a crucial role in equipping Utah nonprofits with essential
resources, and we've witnessed firsthand the positive impact it has
across our state. We're pleased to continue supporting the critical
work undertaken through this initiative."
Online applications are now open for eligible, Utah-based
501(c)(3) nonprofit organizations until Monday, September 30, 2024.
For more information or to apply, please visit
https://utahcf.org/community-impact/initiatives/24-squared-grant-initiative
About Block
Block, Inc. (NYSE: SQ) (formerly, Square, Inc.) is a global
technology company with a focus on financial services. Made up of
Square, Cash App, TIDAL, and TBD, we build tools to help more
people access the economy. Square makes commerce and financial
services easy and accessible for sellers with its integrated
ecosystem of technology solutions. With Cash App, anyone can easily
send, spend, or invest their money in stocks or bitcoin. Afterpay
brings Square and Cash App together, connecting consumers and
businesses. Artists use TIDAL to help them succeed as entrepreneurs
and connect more deeply with fans. TBD is building an open source
platform and developer infrastructure that enables everyone to
access and participate in the global economy.
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