Oakland, CA (PRWEB) August 20, 2009
In an effort to feed the millions of young people expected to miss meals or go hungry this summer, Morgan Stanley (NYSE:MS) announced today a partnership with Boys & Girls Clubs of Oakland to provide 4,000 meals to children this summer. Through a donation from the Morgan Stanley Foundation to BGCA, the "Million Meal Summer" program will dispense more than one million wholesome, free meals and snacks to children this summer who typically receive subsidized meals during the school year.
"This summer, nearly 15 million school children in this country will go without the lunchtime meals provided to them during the school year," said John J. Mack, Chairman and CEO of Morgan Stanley. "The reason we are doing this is quite simple. Faced with the current economic challenges, many families are struggling to provide their children with healthy meals. It is part of our Firm's culture to act when we learn that one out of six children in the U.S. will not be getting enough to eat."
Boys & Girls Clubs of America, through its summer programs and network of more than 4,300 community-based Clubs, will distribute meals to hungry children.
"We are extremely grateful to the Morgan Stanley Foundation for their generous support that will ensure the young people we serve this summer will not go hungry," said Cal Stanley, President, Boys & Girls Clubs of Oakland. "The economic downturn that has impacted the entire country has been deeply felt by our Clubs, and many summer food programs have been placed in jeopardy. Hopefully others will follow Morgan Stanley's lead."
During the school year, more than half of the 31 million children who participate in the National School Lunch Program are low-income. Last year, the Department of Agriculture's Summer Food Service Program for Children (SFSP) provided nearly 130 million meals to 2.1 million children across the country. The program reimburses organizations for meals served, but often does not cover the infrastructure or programming costs organizations incur when operating a summer program for children.
"The Summer Food Service Program is a vital nutrition resource during the months students are not in school," said Agriculture Secretary Tom Vilsack. "We know that there are many children who need nutritious food but don't have access to a program in their area. We need more organizations to sponsor sites and sponsors need additional resources from the community in order to succeed in reaching children who need meals. Ongoing partnerships like this one are key to making sure our children have healthy meals during the school year, during the summer months, and all year long."
For more than 30 years, Morgan Stanley has invested in innovative pediatric care through the Firm's signature Global Alliance for Children's Health program. For more information on the Morgan Stanley Foundation and its programs, please visit http://www.morganstanley.com/globalcitizen.
About Morgan Stanley
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 36 countries. For further information about Morgan Stanley, please visit http://www.morganstanley.com.
About Boys & Girls Clubs of Oakland
The Boys & Girls Clubs of Oakland's mission is to develop our community's youth into positive contributors to society. Now in its 69th year, the Club continues to provide safe places to learn and grow, opportunities for ongoing relationships with caring adult professionals, life-enhancing programs, and other character development experiences each year for over 2,500 girls and boys, ages 6 to 17. The organization supplements the endeavors of our families and our schools, and plans to serve a minimum of 5,000 Oakland youth in the near future. If you believe in what we do and would like to show your support you may do so by visiting http://www.bgcoakland.org