Nike‘s gearing up to combat yet another issue.
Not only is the retail giant fighting against environmental waste by recycling, donating money to resolve racial inequity issues, but now they want kids to be financially literate.
Of all things taught in school, we’ve all wondered why the curriculum covers subjects that, once you graduate, you never use again. Instead, it’d be smarter to teach lifelong skills– and now Nike is making sure that comes to fruition.
The company is giving $1 million to Goalsetter, a youth financial literacy platform in the United States led by a Black female entrepreneur. The app was started by Tanya Van Court who’s goal is to help kids understand the value of a dollar and even help them learn to save for their future. Of course, Nike’s making sure kids are more receptive to the teaching moment by getting celebrities, musicians, and athletes to help save spread the message.
“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.
One of Goalsetter’s main goals is to create a savings account for every child in America, and given the projected stats for minorities in the future– it couldn’t come at a better time. According to Nike, by 2053, Black Americans are projected to have a negative net worth and Latinos by 2073.
“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.”
Nike is clearly putting that $140 million investment in addressing racial inequality to great use, with other partnerships including Black Girls CODE, NAACP Empowerment Programs, LDF, and Black Girl Ventures.