UMB Bank deposits $350K supporting The Porter House KC; $1.25M in year-end KC donations to benefit underserved communities
December 21, 2021 | Startland News Staff
A hefty, end-of-year donation from UMB Bank will provide The Porter House KC an opportunity to dig deeper in assisting local entrepreneurs, said Daniel Smith, expressing appreciation for the $350,000 boost.
“These resources will be used to continue our current work and implement another program that will assist small businesses with direct support, creating additional inroads to success,” said Smith, co-founder and principal of The Porter House KC.
Charon Thompson and Dan Smith, The Porter House KC
Click here to read more about what drives Smith and co-founder Charon Thompson, who were recognized for their work at The Porter House KC as two of Startland News’ 2021 Kansas City Community Builders to Watch.
The donation from Kansas City-based UMB Bank is part of a $1.25 million gift to three organizations supporting underserved communities’ housing needs, small business efforts, and education and emerging talent in Kansas City. KC Scholars is expected to receive $500,000, while CHES, Inc. is set for $400,000. (The Porter House KC is itself a program of CHES, Inc., but is receiving an individual donation.)
“For more than a century, UMB has actively supported each community we serve,” said Mariner Kemper, chairman, president and CEO of UMB Financial Corporation. “We’ve had a strong year, and we want to share this success by giving much needed funding to key organizations within our communities. We’re thrilled to support these outstanding community partners and the tremendous work they’re already doing. We hope to see the impact of these dollars for years to come.”
CHES, Inc. is a HUD approved housing counseling and financial empowerment organization dedicated to helping clients maintain the knowledge and skills needed for long-term credit, financial and homeownership success. The UMB Bank donation will support CHES, Inc. programs including CHES Financial Empowerment and Kansas City Bank On.
The Porter House KC is an inner city based co-working community that provides entrepreneurship access and resources to underserved populations in the Kansas City Metro area. The organization resolves to assist in the representation of entrepreneurs of color by providing an affordable business space that can be used to grow an idea to a full-fledged business.
Click here to learn more about The Porter House KC.
Two additional donations of $375,000 from UMB Bank have been made to Denver organizations NEWSED and Rocky Mountain MicroFinance Institute, bringing the total for the five year-end donations to $2 million, and UMB’s 2021 giving to more than $6 million.
UMB offers commercial, personal, and institutional banking services with branches throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, and serves business and institutional clients nationwide.
This story is possible thanks to support from the Ewing Marion Kauffman Foundation, a private, nonpartisan foundation that works together with communities in education and entrepreneurship to create uncommon solutions and empower people to shape their futures and be successful.
For more information, visit www.kauffman.org and connect at www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn
Featured Business
2021 Startups to Watch
stats here
Related Posts on Startland News
‘Proud capitalist’ to young social entrepreneurs: It’s OK to make a buck while saving the world
Darcy Howe encouraged budding, would-be founders to think about ways they can effectively scale their mission-driven ideas, drawing on KCRise Fund’s model for social entrepreneurship. “Being socially mission-driven is not mutually exclusive to making money,” Howe, founder and managing director of KCRise Fund, told Enactus students gathered Tuesday during an end-of-year celebration for the University…
Million-dollar corporate gift puts $25M Negro Leagues capital campaign on the board; now you’re on deck
Editor’s note: Bank of America is a financial partner of Startland News, although this report was created independently by the nonprofit newsroom. A historic age of impact is under way, said Bob Kendrick, as Kansas City’s Negro Leagues Baseball Museum unveiled plans for a new, state-of-the art campus backed by a $1 million grant from…
They walked right past us: Small biz owners shocked by low NFL Draft sales, now wary of World Cup
A massive surge in visitors and foot traffic as Kansas City hosted its first NFL Draft failed to score many points outside the event grounds this weekend, as countless small businesses along the city’s urban corridor reported a sharp dip in revenue. “I think we’re all looking at our numbers and everything right now, and…
Scale VC launches Fund II with $5M investment led by UM System, Shelter Insurance
COLUMBIA, Missouri — Venture capital fund and studio Scale VC raised a $5 million round of funding in less than six months, said Brett Calhoun, highlighting the potential for growing a nationally recognized startup city in the middle of the country. “Successful founders are everywhere — and that includes right here in the heart of…