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Square Financial Services Launches Grant Initiative to Drive Community Development in Utah

  • Square Financial Services and the Community Foundation of Utah will award microgrants of at least $2,400 to 24 local nonprofits
  • This year’s launch follows the program’s success in 2021 and 2022 during which more than $100,000 was provided to Utah-based organizations
  • Initiative is focused on driving community development work in line with Block’s purpose of economic empowerment

DISTRIBUTED-WORK-MODEL/OAKLAND, Calif.--(BUSINESS WIRE)--Aug. 26, 2024-- Square Financial Services, a Utah state-chartered industrial bank and an independently governed subsidiary of Block, Inc., today opened applications for the 24 Squared grant initiative in partnership with the Community Foundation of Utah (CFU). Building on the success of the 22 Squared grant initiative in 2022, the program will award microgrants of at least $2,400 to 24 501(c)(3) nonprofit organizations focused on community development initiatives throughout Utah.

In line with Block’s purpose of economic empowerment, the microgrants are intended for Utah-based nonprofits that engage in at least one of the following pillars of community development work: small business development, affordable housing, reentry support and entrepreneurship, and financial capability and wellness.

“The 24 Squared program supports businesses that otherwise would not be funded, are underserved, and/or need funding to get their start or grow to the next step. The generous grant from this initiative was used to help fund the operations powering our programs and services,” said Sara Day, Program Manager at Utah Microloan Fund, a microgrant recipient in 2022. “Without support from organizations like Square Financial Services, we could not do the work that we do.”

In its prior two years, the 24 Squared grant initiative has attracted widespread interest from regional nonprofits, awarding more than $100,000 to recipients across 15 cities in Utah. This effort has resulted in the funding of key organizations focused on critical community development work in both rural and urban areas throughout the state.

“After seeing the critical work that our microgrant program has helped fund over the previous two years, we knew that we wanted to provide more opportunity for impact and bring back the program in a bigger way in 2024,” said Lewis Goodwin, Chief Executive Officer of Square Financial Services. “We’re grateful for the Community Foundation of Utah’s continued partnership as we provide more funding to more organizations that are working to better Utah communities.”

"CFU is thrilled to partner for the 24 Squared Grant initiative for the third year," said Alex Eaton, Chief Executive Officer of the Community Foundation of Utah. "This dynamic grant program plays a crucial role in equipping Utah nonprofits with essential resources, and we've witnessed firsthand the positive impact it has across our state. We're pleased to continue supporting the critical work undertaken through this initiative."

Online applications are now open for eligible, Utah-based 501(c)(3) nonprofit organizations until Monday, September 30, 2024. For more information or to apply, please visit https://utahcf.org/community-impact/initiatives/24-squared-grant-initiative

About Block

Block, Inc. (NYSE: SQ) (formerly, Square, Inc.) is a global technology company with a focus on financial services. Made up of Square, Cash App, TIDAL, and TBD, we build tools to help more people access the economy. Square makes commerce and financial services easy and accessible for sellers with its integrated ecosystem of technology solutions. With Cash App, anyone can easily send, spend, or invest their money in stocks or bitcoin. Afterpay brings Square and Cash App together, connecting consumers and businesses. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open source platform and developer infrastructure that enables everyone to access and participate in the global economy.

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Source: Block, Inc.