Morgan Stanley will make an investment of $10 million to support the New York Forward Loan Fund, part of Gov. Andrew M. Cuomo’s initiative to reinvigorate New York’s small businesses and critical nonprofits, the firm said.
The New York Forward Loan Fund will provide sustainable capital to Community Development Financial Institutions to make low cost recovery loans in communities that have been hit hard by the COVID-19 health and economic crisis, Morgan Stanley said.
The contribution follows Morgan Stanley’s previously announced commitment of $25 million in grants to support COVID-19 relief, it said. Those grants have been given to organizations that are fighting hunger, as well as organizations focused on disease control, caring for the sick and financial support for those who are struggling with economic loss, it said.
Also, as part of the $25 million commitment, the firm launched the Morgan Stanley COVID-19 Hunger Relief Campaign that it said “incentivizes employees globally to contribute to local feeding programs.”
Schwab, PGA Tour Introduce Charitable Initiative
Charles Schwab and the PGA Tour on Monday announced a new charitable platform, “Rise to the Challenge,” that the firm said will raise money to benefit the Tour’s COVID-19 Relief Fund nationally and the tournament’s Birdies for Charity fund in the Dallas-Fort Worth area of Texas.
The PGA Tour is also set to return with the 2020 Charles Schwab Challenge, held at the Colonial Country Club from June 11-14 in Fort Worth.
As previously announced by the PGA Tour, the rescheduled Charles Schwab Challenge will be the first tournament to be played since March, and will restart the 2020 PGA Tour schedule. The event will be held without spectators on site, but will be broadcast nationally on the Golf Channel and CBS Sports.
Starting June 8, golf fans can go to schwabgolf.com to make a monetary donation and be entered into a raffle to win prizes — including autographed memorabilia and “unique once-in-a-lifetime golf experiences,” Schwab said. Winners will be announced online during the tournament and PGA Tour players will support the program with special digital and social media content from Colonial throughout the week, it said.