NIKE, Inc. and Goalsetter Partner to Increase Financial Literacy Among America’s Youth
February 24, 2021
As part of its combined $140 million investment in addressing racial inequality, NIKE, Inc. is granting $1 million to Goalsetter, the only youth financial literacy platform in the United States that is led by a Black female entrepreneur. Founded by Tanya Van Court, Goalsetter uses digital platforms to engage youth and help them better understand financial well-being, while saving for their future — all through fun games and support from celebrities, musicians and athletes. NIKE, Inc. is proud to support Goalsetter’s efforts, along with the work led by its other strategic partnerships with Black Girls CODE, NAACP Empowerment Programs, LDF, announced in 2020, and Black Girl Ventures, announced in 2021.
“Nike is propelling a historic moment by helping to change the way America educates a whole generation of kids — using culturally-relevant, game-based content to excite and engage them, and start them on a path to financial freedom,” says Tanya Van Court, CEO of Goalsetter.
Goalsetter hopes to help create a savings account for every child in America and to instill in them sound financial habits through a novel combination of education, play and gamification. On average, kids who own savings accounts are more likely to go to college and own stocks in the future. The goal is to reverse the generational wealth gap that statistically crosses ethnic lines. By 2053, Black Americans are projected to have a negative net worth, while Latinos are projected to have a negative net worth by 2073.
Nike’s $1 million investment, which is Goalsetter’s largest corporate donation to date, will help the organization seed 10,000 kids’ savings accounts, with a focus on Black youth, through the Goalsetter app. The investment will help kids jumpstart their financial wellness journey.
“As part of Nike, Inc.’s Black Community Commitment, we are proud to announce our newest partner, Goalsetter,” says Craig Williams, President of Jordan Brand. “Their purpose to build financial literacy for Black families aligns with our goals – specifically focusing on economic empowerment to address racial inequality for Black Americans. Our partnership with Goalsetter is one way Nike, Jordan and Converse seek to transform how U.S. families, and in particular Black youth, access financial education and in turn, feel empowered to reach their goals.”
The announcement coincides with the rollout of $2.75 million in Black Community Commitment investments to local organizations that fuel social justice, education and economic empowerment on behalf of Black communities in seven U.S. cities. Grantees were announced first in Portland and New York City, with additional grantees in Boston, Chicago, Los Angeles, Memphis and Saint Louis to be announced.