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August 27, 2020

Synchrony commits $5M to nonprofits supporting the Black community

PHOTO | Courtesy Twitter CEO Margaret Keane
By Sean Teehan

Stamford-based financial services firm Synchrony and its philanthropic arm the Synchrony Foundation will donate $5 million to nonprofits focused on social justice for African Americans.

The company announced that, in collaboration with Synchrony's African American + Diversity Network -- an employee group -- it will donate $1 million this year to nonprofits including the Thurgood Marshall College Fund, National Urban League and Equal Justice Initiative.

“As we continue to listen to the experiences of our Black colleagues, friends, and leaders, this represents a step forward in our commitment to a future built on justice and equality for all," CEO Margaret Keane said. 

Synchrony will donate $4 million over the next four years to organizations focused on addressing issues that disproportionately impact the Black community.

In June, Synchrony pledged another $5 million to national community organizations that help small businesses, including the Local Initiatives Support Corporation, a national community development organization, which will provide emergency grants to minority- and women- owned businesses.

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