Washington Area Women's Foundation Receives $1 Million Grant from Fannie Mae Foundation at 6th Annual Leadership Awards

10/1/2003

From: Janet Harris, 202-291-5876, or Ciaran Clayton, 202-887-0500, ext. 26, both for the Washington Area Women's Foundation

WASHINGTON, Oct. 1 -- The Washington Area Women's Foundation, a community-based, public foundation dedicated to expanding the resources and opportunities for women and girls living in the Washington Metropolitan Area, today announced a new partnership with the Fannie Mae Foundation to strategically address one of the largest barriers to economic stability in the Washington region -- the cycle of poverty for single mothers.

The Fannie Mae Foundation, the largest corporate philanthropist in the Washington area, is giving a $1 million grant to kick off the Washington Area Women's Foundation's Women and Families Financial Independence Initiative. The grant is the first major leadership gift that will enable the launch of program, and is the largest ever received by the Washington Area Women's Foundation. The Initiative will target the specific issues to help break the cycle of poverty: wealth creation and financial literacy; affordable, quality childcare; safe, affordable housing; and education and job training.

The Women and Families Financial Independence Initiative seeks to build long-term security for women-headed households by raising and investing financial resources, increasing public awareness, and engaging a diverse group of stakeholders to address the economic security and independence of the Washington area's most fragile families -- women-headed households living in economically vulnerable situations.

The Women and Families Financial Independence Initiative stems from a May 2003 study by the Washington Area Women's Foundation - A Portrait of Women & Girls in the Washington Metropolitan Area. The research identified the gaps and needs in the region for women and girls, as well as the strengths that can be brought together to address those needs. The study guided the Washington Area Women's Foundation to develop the ambitious Initiative to build long-term security for women.

The announcement came at the Washington Area Women's Foundation's Sixth Annual Leadership Awards Benefit Luncheon, featuring keynote speaker Senator Hillary Rodham Clinton (D-N.Y.). The Leadership Awards recognize and support community-based organizations across the Washington Metropolitan Area that give women and girls the opportunity and means to take steps toward independence and improved well being.

"The Washington Area Women's Foundation is providing critical services and programs for women throughout the Washington Metropolitan Area," said Senator Hillary Rodham Clinton. "Now, more than ever, we need to be thoughtful of the issues facing girls and women today, and support organizations making real and meaningful contributions to their lives."

Stacey Stewart, president and CEO of the Fannie Mae Foundation presented the grant at the Washington Area Women's Foundation's Leadership Awards Benefit Luncheon, held at noon today at the Grand Hyatt Hotel in Washington, D.C.

"Women are a driving force in this area's labor market. The Washington area will be healthy and thriving only if women and girls are thriving," said Anne Mosle, president of the Washington Area Women's Foundation. "The Women and Families Financial Independence Initiative is a smart, strategic way to improve women's lives. The Fannie Mae Foundation's generous $1 million grant and its committed partnership on this initiative is historic. We are proud that Washington is emerging not only as a community of powerful women, but also as a community that truly understands the power of women."

The Leadership Awards Benefit Luncheon also featured Virginia Governor Mark R. Warner; Honorary Chair Jan Brandt, Vice Chair and Chief Marketing Officer Emeritus, America Online, Inc.; Mistress of Ceremonies Susan Kidd, Anchor, WRC-TV, NBC 4; and 2003 Lifetime Philanthropy Award recipient, Connie Morella, U.S. Ambassador to the Organization for Economic Cooperation and Development (OECD) and former U.S. Representative.

Through the Leadership Awards Program, the Washington Area Women's Foundation recognizes and honors community-based organizations that help women, girls and their families achieve economic and physical security, enhance health and well being, and secure education and leadership opportunities. Since 1998, the Washington Area Women's Foundation has awarded more than $250,000 and presented 42 awards to local organizations in the District of Columbia, Montgomery and Prince George's counties in Maryland, and Alexandria, Arlington and Fairfax counties of Virginia.

Often, the organizations identified are in their nascent stages, operating below the radar screen. The Washington Area Women's Foundation has a 90 percent success rate of its Leadership Award recipients, with these emerging non-profits and programs growing their impact and service to the community. Leadership Award recipients collectively serve more than 15,000 low-income women, girls and their family members in the Washington Metropolitan Area.

This year's 2003 Leadership Awardees are: Computer C.O.R.E. (Community OutReach & Education), Alexandria, Va.; Digital Sisters, District of Columbia; Empower Girls, Inc., Oakton, Va.; FLY (Facilitating Leadership in Youth), District of Columbia; Girl Power of Barrios Unidos, Falls Church, Va.; SECRETS (Sisters Empowered Can Redefine Events Through Sharing) of DAARA, Inc., Capital Heights, Md.; SISTERS (Self, Image, Strength, Tenacity, Empathy, Responsibility, Success) of Family Support Center, Bethesda, Md.; and UNITY of the Tenants & Workers Support Committee, Alexandria, Va.

About Washington Area Women's Foundation

Founded in 1997, the Washington Area Women's Foundation is a philanthropic organization dedicated to improving the lives of women and girls in the Washington Metropolitan Area. Based on the belief that the region's well being is directly related to the economic status of the women, the Washington Area Women's Foundation supports local organizations working to help women and girls achieve economic independence and fulfilled lives. The first foundation of its kind in the D.C. area, the Washington Area Women's Foundation has awarded over $250,000 and presented 42 awards to local organizations in the District of Columbia, Montgomery and Prince George's counties in Maryland, and Alexandria, Arlington and Fairfax counties of Virginia. The Washington Area Women's Foundation is a 501 (c)(3) public foundation.

For more information, visit http://www.wawf.org.