Robin Hood invests $36.3 million to combat poverty in NYC

The Robin Hood Foundation, one of New York City’s largest local philanthropic entities dedicated to combating poverty, has announced its new round of grants totaling $36.3 million for the third quarter of 2024. This brings Robin Hood’s total investments for the year to $75.3 million and about $3 billion since 1988, which is when the foundation was founded.  

The new grants fund over 100 organizations and invest $4.4 million in housing, $6.6 million in accessing benefits and services, $4.4 million in maternal and pediatric health care, $13.7 million in education, $3.8 million in economic development, and $4 million in childcare and worker justice initiatives.  

“These new resources come at a critical moment. New York is at an inflection point, where poverty is increasing by record numbers year-over-year, government spending is constrained, and those living in poverty are increasingly caught in the financial vice between rising prices and stagnant wages,” said Richard R. Buery Jr., CEO of Robin Hood. “We are doing everything we can to stabilize low-income households while fostering opportunities for upward economic mobility. New York City must always remain a place of hope and opportunity for every resident.” 

The new grants fund initiatives across all five boroughs at a time when the cost of living is increasing. In 2023, United Way of New York City released a report that found 50% of working-age New Yorkers are struggling to cover their basic needs. Additionally, the report stated that the true cost of living goes as high as $150,000 in South Manhattan.

“In this round of grants, we're just trying to tackle some of the biggest challenges facing New Yorkers,” said Sarah Oltmans, chief of grant strategy at Robin Hood. “We want to make sure that New York City continues to be a place that works for all New Yorkers.”

Education initiatives received the biggest pool of funding, with 31 initiatives being funded, including placing early literacy tutors in schools, training teachers to implement the new NYC Reads curriculum, and college prep and counseling for high school students. 

Since Spring of 2022, Robin Hood has also invested over $12 million to support the migrant and immigrant population in New York City. This past spring, Robin Hood launched The Funds for the Newest New Yorkers in partnership with the New York Community Trust. The foundation aims to continue funding services for migrant and immigrant populations with new request for proposals.