KeyBank makes $1M commitment to Promise fund

Pittsburgh Post-Gazette

The philanthropic arm of KeyBank announced Wednesday that it will donate a total of $1 million over four years to the Pittsburgh Promise scholarship program.

“As [Pittsburgh] newcomers, we were trying to identity a wonderful opportunity that aligned with our vision, mission and goals for the KeyBank Foundation, and this was on target,” foundation chair and CEO Margot Copeland saidin an interview.

The news was made public as part of the Promise’s first “senior

signing day” in which high school seniors were to declare plans after graduation. Promise executive director Saleem Ghubril said five graduating seniors will be selected annually as recipients of the KeyBank scholarship.

“We are deeply grateful to KeyBank’s investment in our mission to improve the lives of our city high school graduates and their prospects for success in the workforce,” he said in a news release.

The announcement came nearly a week after the Promise honored UPMC for fulfilling the last installment of its $100 million commitment to the scholarship program. Mr. Ghubril said his staff will spend the summer “working on a second-decade plan.”

Spokeswoman Lauren Bachorski added: “Our de- velopment team is working diligently to raise funds across corporations, foundations, and high-net-worth individuals. They are in the constant process of identifying and reaching out to new donors, as well as connecting with existing donors who may have interest in increasing their gift.”

KeyBank Foundation will donate $175 million to various causes-over the next five years “across the entire KeyBank footprint,” Ms. Copeland said. The Promise pledge represents its first in Western Pennsylvania.

Since 2008, the Promise has awarded more than 7,200 scholarships worth more than $100 million. About 1,600 graduates have earned some sort of credential after school. About 1,000 scholarship recipients are working in the Pittsburgh region. Beginning with the Class of 2017, the maximum scholarship amount students can receive over a fouryear period is $30,000— down from $40,000 — to help lengthen the life of the program through 2028.

Cleveland-based KeyCorp took over First Niagara locations last fall.