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New York Life Foundation Grants $350,000 to Year Up

Additional Two-Year Grant Given to Continue Support for Underserved Youth

NEW YORK, N.Y., December 4, 2012 — The New York Life Foundation announced today a two-year, $350,000 grant to Year Up to support the organization’s Chicago and Puget Sound sites. The Foundation also supported these sites with a two-year $350,000 grant in 2010. Year Up is a one-year, intensive training program focused on urban young adults, ages 18-24, who have graduated from high school or obtained their GEDs but are “disconnected” from school and work. The program provides these young people with technical and professional skills, college credits, and professional internships at top U.S. companies. The funding will support eight groups of 30 students.

“The continued support from the New York Life Foundation is helping our organization to provide more young adults in Chicago and Puget Sound with access to the skills and guidance required to realize their true potential,” said Gerald Chertavian, founder and chief executive officer, Year Up. “Support from our committed partners helps us place more young adults on a viable path to economic self-sufficiency.”

“We are pleased to extend our partnership with Year Up for another two years. It is an effective, rapidly growing program, and our support will help more underserved young adults in Chicago and Puget Sound get the skills and experience today’s job market requires,” said Chris Park, president of the New York Life Foundation.

The program is made up of two phases: In the first, students spend six months attending classes and developing professional and technical skills in either information technology or financial operations. In the second phase, students apply those skills and gain valuable professional experience during a six-month internship with one of Year Up’s corporate partners. Year Up currently has more than 280 corporate partners that provide it with ongoing feedback about the interns and how they meet business needs. New York Life is a corporate partner and sponsors Year Up students as company interns.

About Year Up, Inc.
Year Up’s mission is to close the Opportunity Divide by providing urban young adults with the skills, experience, and support that will empower them to reach their potential through professional careers and higher education. Year Up achieves this mission through a high support, high expectation model that combines marketable job skills, stipends, internships and college credits. Its holistic approach focuses on students' professional and personal development to place these young adults on a viable path to economic self-sufficiency. Year Up currently serves more than 1,500 students a year at sites in Atlanta, Baltimore, Boston, Chicago, Miami, New York City, Providence, San Francisco Bay Area, the National Capital Region, and Puget Sound. To learn more, visit www.yearup.org or www.youtube.com/yearupinc.

About the New York Life Foundation
Inspired by New York Life’s tradition of service and humanity, the New York Life Foundation has, since its founding in 1979, provided more than $155 million in charitable contributions to national and local nonprofit organizations. Through its focus on "Nurturing the Children," the Foundation supports programs that benefit young people, particularly in the areas of educational enhancement and childhood bereavement. The Foundation also encourages and facilitates the community involvement of employees, agents, and retirees of New York Life through its Volunteers for Life program. To learn more, please visit the Foundation’s Web site at www.newyorklifefoundation.org.

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