By Mark Barnes | Communications Volunteer
The Transforming Lives Awards identifies and supports excellent nonprofits and social enterprises driving sustainable livelihood programs across Asia, Africa and Latin America
Hanoi, Vietnam-- August 7, 2019 -- Alquity and Philanthropy U today announced REACH will receive a $60,000 grant as a 2019 Transforming Lives Awards winner. The organization joins seven other winners being recognized for their excellent nonprofit or entrepreneurial work to improving livelihoods, productive employment and decent work for all.
The Transforming Lives Awards is inspired by the Alquity shared values business model, which has generated over US$1.9m in charitable donations and has supported the growth of sustainable livelihood programming and transformed thousands of lives across Africa, Asia and Latin America. REACH is one of the first ever winners of the Transforming Lives Awards.
"We are incredibly honoured to recognise the eight award winners receiving the inauguralTransforming Lives Awards;and are excited to celebrate with them all on September 9th in London." said Paul Robinson Chairman & Founder Alquity.
Over 600 social impact organizations applied for consideration beginning in October 2018 last Fall via Philanthropy University, a free online learning platform that upskills and funds social impact organizations. Eligible organizations entered into an interactive, peer-to-peer vetting process that included a first-of-its-kind prompt for peer organizations to help determine top candidates; 100 organizations passed and advanced to the next stage where they were asked to formally apply.
Regional judging panels - comprised half of regional social impact experts - then narrowed the candidate pool from 30 shortlisted organisations to 16 finalists. A panel of eight Global Judges determine the winning eight organizations earlier this month.
“Winning the Transforming Lives Award is recognition of the hard work put in by all staff members at REACH to fulfil REACH’s mission of training disadvantaged youth in demand driven skills. REACH’s programs create a sustainable, positive socio-economic impact in the lives of young people and their families. We, at REACH, are happy and proud to have won the “Transforming Lives” award. The award increases our responsibility towards disadvantaged communities in Vietnam,” said Tam Pham Thi Thanh, Executive Director of REACH Vietnam.
Winners join a special winners “cohort” on the Philanthropy University platform that will be given exclusive programming that encourages peer-to-peer learning, skills building and networking for improved outcomes.
“REACH shined throughout the entire process and demonstrated to us, the regional panel and peer organizations the incredible impact, and potential, of its programming,” said Connor Diemand-Yauman, co-founder and CEO of Philanthropy U. “We are grateful for the opportunity for winners to use our learning platform to continue learning, networking and accessing resources to make the most of their funding award.”
REACH is a Vietnamese nonprofit organization specializing in vocational training, career advice, and job placement services for disadvantaged Vietnamese youth. REACH has six locations around Vietnam and trains over 1000 young people annually. These students include young people who have grown up in poverty, who are living with disabilities, and victims of human trafficking among many others.
Over ten years REACH has trained over 16,000 young people between the ages of 16 and 30. Of those, we have placed more than 80% in stable in employment and REACH graduates earn almost 20% more than the national minimum wage.
About Alquity:
Alquity is an asset management business investing in high-growth markets across the world. Its goal is to connect investors to their investments and social progress in order to deliver better financial outcomes for all. Its investments target attractive returns across Africa, Asia, and Latin America through portfolios that include transparent companies, with effective management that is aligned with shareholders. Alquity funds are therefore responsible by design, targeting consistent out-performance whilst contributing to long-term growth.
Encapsulated in Alquity’ unique business model is the commitment to donate 10% of its management fees generated to development projects in the regions in which it invests via the Alquity Transforming Lives Foundation. The organisation wants to create opportunities for individuals and communities to enable grown from bottom up, fuelling what is they call the Alquity virtuous circle. Alquity’s donations building fairer and more sustainable economies where the companies they invest in also prosper.
About Philanthropy U:
Philanthropy University is a free online learning platform that uses technology to upskill, connect, and fund local social impact organizations in under-resourced communities. We deliver practical learning and support, where it matters most, through world-class online courses, peer-to-peer knowledge exchange and funding opportunities. Ultimately, we act as a catalyst for long-term systemic change only possible by bringing measurable efficiency to the frontlines, globally.
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