ING Foundation Awards College Scholarships to Girls Inc. Young Investors
ING-Girls Inc. Investment Challenge Participants Complete Three-Year Program
NEW YORK, May 31, 2012
NEW YORK, May 31, 2012 /PRNewswire/ -- The ING Foundation is awarding college
scholarships to teams of young girls who participated in the ING-Girls Inc.
Investment Challenge, a program that provides practical, hands-on investing
experience to girls at Girls Inc. affiliates around the country. Teams of
girls in the first cycle of the challenge from New York City, Denver, and Los
Angeles and Alameda counties in California each spent the past three years
building and managing a virtual $50,000 diversified, real-time portfolio as
part of an integrated investment- and economic-literacy curriculum. Now,
because of their successful money-management skills, the gains they realized
from their investment portfolios translate into real dollars for their
"When we initially launched the ING-Girls Inc. Investment Challenge, our goal
was to introduce girls to the basics of saving, investing and financial
planning to empower a new generation of smart investors," said Rhonda Mims,
president of the ING Foundation and senior vice president of ING U.S.'s Office
of Corporate Responsibility. "At the end of the challenge, each team realized
at least a 25% return on their portfolios. Given the market volatility over
the past years, I think the girls have acquired an understanding of capital
markets that they will carry on with them through adulthood."
The latest study commissioned by the ING Retirement Research Institute
underscores the need to engage girls early on with financial literacy. The
study, Retirement Revealed, indicates that women on average are significantly
less prepared for retirement than men. "The ING-Girls Inc. Investment
Challenge serves as a solution for one of the biggest issues facing our youth
today — financial literacy," said Judy Vredenburgh, president and CEO, Girls
Inc. "Exposing the girls to the fundamentals of investing and connections with
dedicated mentors, seeing them mature as investors and then reaping the
rewards of their commitment to the challenge gives the girls the confidence
and skillsthey need to take charge of their own finances and futures built on
higher education and independence."
The ING-Girls Inc. Investment Challenge has expanded to Holyoke, Mass.,
Atlanta, Houston and Washington, D.C., with plans to integrate the challenge
more widely across Girls Inc. affiliates. "I enjoyed learning about how to
make the right investment decisions because it will be very useful in the
future when I am investing my own money," said Elizabeth, a participant from
the New York challenge.
The ING Foundation will award two-thirds of the investment gains in the
portfolio to the girls with one-third going to the local Girls Inc. affiliate
to support local programming. The original $50,000 principal is then
re-assigned to the incoming team. The ING Foundation will join the local Girls
Inc. affiliates for celebratory events this summer to recognize girls who are
vested and eligible to receive gains from the team's investments.
Audria Belton Benn Cheryl Messer
ING U.S. Girls Inc.
Office: (770) 980.5715 Office: (212) 509.2000, ext. 237
Cell: (404) 934.8743 Cell: (917) 957.5647
ING U.S. constitutes the U.S.-based retirement, insurance and investment
management operations of Dutch-based ING Groep N.V. (NYSE: ING). In the U.S.,
the ING family of companies offers a comprehensive array of financial services
to retail and institutional clients, including life insurance, retirement
plans, mutual funds, managed accounts, alternative investments, institutional
investment management, annuities, employee benefits and financial planning.
ING holds top-tier rankings in key U.S. markets and serves approximately 15
million customers and plan participants across the nation.For more
About the ING Foundation
The ING Foundation's mission is to improve the quality of life in communities
where ING operates and its employees and customers live. Through charitable
giving and employee volunteerism, the foundation focuses on programs in the
areas of financial literacy, children's education, diversity and environmental
sustainability. For more information, visit ing-usafoundation.com or connect
with us on Facebook (facebook.com/act2impact) and Twitter (@INGact2impact).
About Girls Inc.
Girls Inc. delivers life-changing programs that inspire girls to be strong,
smart, and bold. Research-based curricula, delivered by trained professionals,
equip girls to achieve academically; lead healthy and physically active lives;
manage money; navigate media messages; and discover an interest in science,
technology, engineering, and math. The network of local Girls Inc. nonprofit
organizations serves 150,000 girls ages 6 - 18 annually at over 1,400 sites in
350 cities across the United States and Canada. Learn more about our programs
and advocacy at www.girlsinc.org.
SOURCE ING U.S.
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