Announcement, News, Press Release GreenLight Fund Brings Point Source Youth to Baltimore Feb 14, 2023 Baltimore Twitter Facebook LinkedIn Email Addressing community-identified need, cash transfer program supports youth experiencing homelessness Baltimore, MD – February 14, 2023 – GreenLight Fund Baltimore announces an investment in Point Source Youth to scale its Direct Cash Transfer program to Baltimore City to support youth who are experiencing homelessness. Through Point Source Youth’s Direct Cash Transfer intervention, youth will receive a one-time $3,000 initial cash transfer and $1,000 a month for a duration of two years. Additionally, participants will receive case management and peer navigation ancillary support services providing youth with opportunities to pursue academic, vocational and other goals that will enhance their quality of life and financial stability. “I am very excited about the impact our investment in Point Source Youth will have as GreenLight Baltimore’s first portfolio organization,” said Ryan Turner, founding executive director of GreenLight Fund Baltimore. “During our comprehensive selection process, we heard from the community about the challenge many repeatedly face when a single emergency causes financial distress for families, making it nearly impossible to build savings. There’s a need to end that cycle. This intervention comes to Baltimore at a critical time as the city navigates support for our youth, especially youth who squeegee.” Point Source Youth, started in New York, works nationally to prevent and end homelessness for young people, with a focus on BIPOC and LGBTQ+ youth. Unlike traditional interventions to youth homelessness, Point Source Youth equips young people with the resources and wrap-around services they need to make the best decisions they’ve determined for their own lives. The cost-effective program has low administrative burdens allowing the intervention to scale easily and reach youth who aren’t accounted for in other systems. “As leaders and members of our community, it is our responsibility to support the young people who are the future of our city. By demonstrating that their struggles are our own, we can provide the guidance and resources needed to ensure their success,” said Mayor Brandon M. Scott. “I am proud to support the efforts of the GreenLight Fund and their investment in Baltimore through cash transfer programs, which have been shown to bring financial relief and improve the well-being of recipients. Let us work together to build a bright future for Baltimore.” In partnership with the community and its Selection Advisory Council, GreenLight identifies opportunities for investments supporting inclusive prosperity, then evaluates and selects nonprofit organizations that can best address those needs. With financial stability, particularly for youth, identified as a priority for positive change during GreenLight Baltimore’s first selection process, GreenLight searched the country for a program effectively addressing that challenge elsewhere. After a comprehensive vetting process, GreenLight Baltimore selected Point Source Youth Direct Cash Transfer as a program with the best local fit to effectively address youth homelessness and positively impact financial stability. GreenLight is committed to the success of Point Source Youth Direct Cash Transfer as it launches in Baltimore and will provide multi-year financial support along with ongoing on-the-ground strategic partnership. “Point Source Youth is thrilled to partner with the GreenLight Fund to launch Direct Cash Transfers for youth experiencing homelessness in Baltimore”, says Larry Cohen, Executive Director of Point Source Youth. “We can end youth homelessness by placing power and resources directly in the hands of young people who are experts in their own lives.” As a next step, GreenLight will work with Point Source Youth to identify a Baltimore City-based nonprofit who will provide case management services to youth who participate in the Direct Cash Transfer program. The local implementing organization will be identified through an RFP developed by a council of six Baltimore City youth, Point Source Youth personnel and local community members and partners. Over the next two years, nearly 60 youth will be supported through this intervention. Point Source Youth plans to leverage public-private partnerships in order to sustain the direct cash initiative as well as expand its capacity to serve more youth. Once fully implemented, the program will reach 100s of youth across the city. Kirsten Gettys Downs, Executive Director at Homeless Persons Representation Project, added, “Providing direct cash transfers to youth is an intervention that honors their self-determination and recognizes that existing safety net systems are too often inequitable and inadequate. We look forward to collaborating with youth and other partners in this initiative.” GreenLight Baltimore was launched locally with support from 100+ investors committed to community-driven change including T. Rowe Price Foundation. “GreenLight Baltimore’s thoughtful and unique approach is an additive solution to tackle some of our city’s toughest challenges. I look forward to the impact Point Source Youth, a results-oriented intervention addressing a timely need, will have in our community,” said John Brothers, President, T. Rowe Price Foundation. Point Source Youth Direct Cash Transfer was selected as the first investment in a portfolio of solutions. Each year, GreenLight will lead a community-driven process to bring another proven solution to address barriers to economic mobility for children and families in Baltimore.