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Congressional Black Caucus Foundation Announces New York Life Funding for Congressional Internship Program

Foundation Grant Enables African-American College Students to Work on Capitol Hill

WASHINGTON, D.C., April 15, 2002 — The Congressional Black Caucus Foundation (CBCF) announced today a grant by the New York Life Foundation, the charitable giving arm of New York Life Insurance Company, to help fund 38 internships for African-American college students working on Capitol Hill this summer. This $50,000 grant supports the Congressional Internship Program that provides undergraduate students with on-the-job experience working with a member of the Congressional Black Caucus, as well as educational workshops and cultural programs.

Dr. Ramona Edelin, executive director of the Congressional Black Caucus Foundation commented, "The Congressional Black Caucus Foundation is pleased to continue its partnership with the New York Life Foundation. Their contribution does more than just enable deserving students to learn about the inner workings of Congress; such support opens doors, lays foundations, and paves the way for emerging leaders to make our nation a better place for all."

Sy Sternberg, chairman, president and chief executive officer of New York Life and chairman of the New York Life Foundation said, "We are proud to continue our support for this enriching program that provides young people with an invaluable experience on Capitol Hill working closely with elected officials while also having access to cultural events and educational programs. CBCF's Congressional Internship Program gives undergraduate students hands-on experience that will help them throughout their personal and professional lives and teach important lessons about time management, effective communication, leadership and teamwork." This is the second year of New York Life's support for this program.

The interns' work experience is complemented with regularly scheduled educational and cultural enrichment activities. Each week, interns participate in round table discussions with Congressional Black Caucus members, federal government officials and other public policy experts to explore critical issues facing America. Interns work a 40-hour week and receive housing at a Washington, D.C. university campus, in addition to a stipend to cover transportation, meals and personal expenses.

The New York Life Foundation, established in 1979 by New York Life Insurance Company, is the major vehicle through which the company channels contributions to national and local nonprofit organizations. Through its Nurturing the Children initiative, the Foundation supports organizations, programs and services that target young people, particularly in the areas of educational enhancement, mentoring, and safe places to learn and grow.

New York Life Insurance Company, a Fortune 100 company, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Founded in 1845 and headquartered in New York City, New York Life and its affiliates offer life insurance, annuities and long-term care insurance. Through New York Life Investment Management, New York Life's affiliates provide institutional asset management, retirement plan and trust services and an array of securities products and services such as institutional and retail mutual funds.

The Congressional Black Caucus Foundation, Inc. (CBCF) was established in 1976 as a non-partisan, non-profit, public policy, research and educational institute. As envisioned by its founders, the CBCF's mission is to assist the leaders of today, while helping to prepare a new generation of leaders for the future. To that end, the CBCF has worked to broaden and elevate the influence of African Americans in the political, legislative and public policy arenas.

Contacts:

Kelly Owens
Congressional Black Caucus Foundation
(202) 675-6739

Karen Finkston Payes
New York Life
(212) 576-5624

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Congressional Black Caucus Foundation Announces New York Life Funding for Congressional Internship Program

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