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NEW YORK, Sept. 22, 2019 (GLOBE NEWSWIRE) -- Youth INC held the fifth annual RBC Race for the Kids at Brookfield Place, featuring athletic challenges, live performances, games, and more. Since inception, this day of family fun has raised awareness and over $8M for 12 nonprofits providing essential resources to New York City’s youth. This year, thousands of participants and over 30 corporate sponsors came together to raise $1.7 million.
RBC has a long legacy of supporting and working with organizations to benefit youth and communities. Both RBC and Youth INC see investment in our city’s youth as critical to community advancement and shared thriving. “RBC has a long history of supporting children’s causes and is committed to supporting under-served youth in New York City. The success of the event speaks to the firm’s collaborative, strong culture and our mission of helping clients thrive and communities prosper,” said Matthew Stopnik, Managing Director and Co-Head of U.S. Investment Banking at RBC Capital Markets and Youth INC Board Member.
Youth INC bridges the corporate and nonprofit sectors, and RBC Race for the Kids is a great example of how companies can engage employees to support nonprofits that empower youth. “It has been terrific to see the growth of this event and engagement of so many companies and their employees over the past few years,” said Paul J. Taubman, Chairman and Chief Executive Officer at PJT Partners and National Advisory Board Member at Youth INC. “We look forward to seeing RBC Race for the Kids continue to grow for years to come. The proceeds support organizations that are providing access to opportunity for all New York City kids.”
“It is not often that we get to do so much good for so many in a single day. But this year’s RBC Race for the Kids has surpassed all of our expectations and I am so thrilled that we were able to engage so many companies and supporters to raise $1.7 million for organizations serving New York City’s young people,” said Rehana Farrell, Executive Director at Youth INC. “My sincerest thanks go out to everyone – RBC, all of our sponsors, our staff, volunteers, and participants – who all made this incredible and important day possible.”
Funds raised through RBC Race for the Kids will benefit:
Youth INC, Children of Fallen Patriots Foundation, Literacy Inc., Memorial Sloan Kettering Pediatric Cancer Center, and Ronald McDonald House New York.
Sponsors for the 2019 RBC Race for the Kids include:
Meredith Corporation, City National Bank, Brookfield Place, AlixPartners, Apollo, CVC Capital Partners, Nuveen, PJT Partners, Two Sigma, Sightway Capital, Oaktree Capital, P. Schoenfeld Asset Management, Blackstone, Crunch Fitness, Deloitte, Dixon Hughes Goodman, Fried Frank, ICAP, Haynes and Boone, Ropes and Gray, Sia Partners, IEX Trading Group, KPMG, TPG Capital, Richemont, GCM Grosvenor, Nasdaq, EY, Laughing Man Coffee, KIND, NY Red Bulls, Athletic Brewing, and Conrad Hotels.
About Youth INC
Youth INC’s mission is to transform the lives of NYC youth by empowering the nonprofits that serve them. Youth INC’s network of 80 grassroots nonprofits collectively champions the lives of more than 200,000 young people across New York City. Youth INC provides the coaching, capital and connections to our nonprofit partners to help them achieve sustainable growth and maximize their impact. Our fundraising, governance and impact evaluation programs yield incredible results. Over the course of a partnership with Youth INC, our partners experience an average growth in revenue of 154%, in board size of 33%, and in youth served of 180%. Youth surveyed report 83% growth in Social and Emotional Learning, which scholars agree is the most predictive indicator of success in school, career and life. Since inception, our venture philanthropy model has raised over $100M, empowered over 175 nonprofits and impacted the lives of over 1 million NYC youth. To learn more visit: www.youthinc-usa.org
About RBC Capital Markets
RBC Capital Markets is a premier global investment bank providing expertise in banking, finance and capital markets to corporations, institutional investors, asset managers and governments around the world. We serve clients from 70 offices in 15 countries across North America, the UK, Europe and the Asia-Pacific region. Our more than 7,400 professionals deliver the experience and insights required to raise capital, access markets, mitigate risk and acquire or dispose of assets for clients worldwide. We are consistently ranked, by third-party sources, among the 10 largest and most significant investment banks globally.
RBC Capital Markets is part of a leading, diversified provider of financial services, Royal Bank of Canada (RBC). Operating since 1869, RBC is one of the largest banks in the world and the fifth largest in North America, as measured by market capitalization. With a strong capital base and consistent financial performance, RBC is among a small group of highly rated global banks.
For more information, please contact:
Vanessa Marquez, Youth INC
Stephanie Diaz, RBC Capital Markets