NEWPORT NEWS, Va. — Three longtime Hampton Roads business leaders are working together to give a $500,000 grant to a nonprofit that's focusing on education and workforce development.
Jim Mears, the CEO of BayPort Credit Union and foundation chairman, shared the details about the Accelerating Change Together (ACT) Grant.
BayPort (through the BayPort Foundation), Newport News Shipbuilding (through Newport News Shipbuilding Gives) and Ferguson (through Ferguson Cares) are partnering to give away the half-million.
The foundation is looking for a registered nonprofit that knows about gaps in Hampton Roads, and that has the potential to leave a lasting mark in the community.
"This year’s investment will be a win for education in Hampton Roads and in the development of a skilled workforce that will benefit the nation," Mears wrote.
"We hope the grant will inspire like-minded nonprofits to work together to strengthen the communities where we all live and work."
The distribution will break down like this: $250,000 in the first year, $175,000 in the second year and $75,000 in the third year. The winning nonprofit will have to go through an annual review of its effectiveness to continue getting money.
Interested applicants have to complete the online form by Oct. 31.