New $1.1 Million Investment from Fifth Third Foundation Advances NMSDC Centers of Excellence Certificate Program
29 Fevereiro 2024 - 10:00AM
Business Wire
Organizations Announce 2023 Centers of
Excellence Graduates
The National Minority Supplier Development Council (NMSDC) and
Fifth Third today announce the continuance of NMSDC’s innovative
Centers of Excellence Certificate Program (COECP) through 2026. The
COECP facilitates the development and growth of NMSDC-certified
minority business enterprises, prepares them to compete for larger
contracting opportunities and facilitates opportunities for
strategic partnerships, mentoring and networking.
The Fifth Third Foundation will provide an additional $1.1
million over the next three years to sponsor the program — and
three new classes of graduates — through 2026. Fifth Third also
donated $1 million for the program from 2020-2023. In addition, the
organizations today announced the 2023 COECP program graduates.
The 2023 graduates included participants from companies
certified by five of NMSDC’s regional affiliates, including the
Chicago Minority Supplier Development Council, the
Carolinas-Virginia Minority Supplier Development Council, the
Georgia Minority Supplier Development Council, the Mid-States
Minority Supplier Development Council, and the Ohio Minority
Supplier Development Council. For the full list of graduates, visit
nmsdc.org or 53.com.
“The Centers of Excellence program is a prime example of how
exponential MBE growth is possible when NMSDC and our corporate
members, MBEs, and regional affiliates work together to create an
ecosystem of mentorship and collaboration,” said NMSDC CEO and
President Ying McGuire. “Our partnership with strategic allies like
Fifth Third enables us to drive change and advance economic equity
by providing growth opportunities to minority business owners.”
“Collaborations like the one between Fifth Third, the NMSDC and
other valued partners is lifting up small businesses across the
country,” said Fifth Third Executive Vice President Kala Gibson,
chief corporate responsibility officer at Fifth Third Bank and
chairman of the board of the National Minority Supplier Development
Council. “We are proud to financially support the program through
our Foundation and to lend our expertise as educators and subject
matter experts to create an incredibly valuable experience that
will pay dividends for all involved long into the future.”
To cultivate a robust supplier base throughout the country, the
NMSDC COECP brings together the best and brightest minds in
supplier diversity and inclusion. Through mentorship, executive
coaching, and educational lessons, the program develops a stronger
and more inclusive business community across multiple disciplines
and geographic areas.
“We are delighted to deepen our relationship with NMSDC as part
of our commitment to supporting small businesses and advancing
inclusion in the economy,” said Fifth Third’s Director of Supplier
Diversity Carla Cobb. “We are proud of the MBEs who committed
themselves to this transformative program, thereby adding value to
our supply chain and uplifting the communities they serve.”
In 2023, the program’s successes include an increase in profits
of $15.8 million, new clients and/or contracts ranging from $20,000
to $7 million during the 12-month program, and a 90% success rate
for graduates implementing strategic growth plans.
In addition to support from First Third and NMSDC, the program
is made possible through strategic partnerships with corporate
members, the Center for Urban Entrepreneurship & Economic
Development at Rutgers Business School, Covenant Business Concepts,
BCT Partners, and Institute Supply Management (ISM).
Visit nmsdc.org/programs-events/centers-excellence for more
information.
About NMSDC
Founded in 1972, NMSDC is the longest-operating business growth
engine for the broadest group of systematically excluded
communities of color (Asian-Indian, Asian-Pacific, Black, Hispanic,
and Native American), and our impact goes far beyond the supply
chain. It’s about upward mobility for the emerging majority of
Americans, an equal shot at participating in the American
experiment of free-market capitalism and entrepreneurship. Our work
is about correcting the unequal access to wealth-building
opportunities. For more information, please visit nmsdc.org.
About the Fifth Third Foundation
Established in 1948, the Fifth Third Foundation was the first
charitable foundation created by a financial institution. The
Foundation supports worthy causes in the areas of health and human
services, education, community development and the arts in the
states where Fifth Third Bank operates.
About Fifth Third Bank
Fifth Third is a bank that’s as long on innovation as it is on
history. Since 1858, we’ve been helping individuals, families,
businesses and communities grow through smart financial services
that improve lives. Our list of firsts is extensive, and it’s one
that continues to expand as we explore the intersection of
tech-driven innovation, dedicated people and focused community
impact. Fifth Third is one of the few U.S.-based banks to have been
named among Ethisphere’s World’s Most Ethical Companies® for
several years. With a commitment to taking care of our customers,
employees, communities and shareholders, our goal is not only to be
the nation’s highest performing regional bank, but to be the bank
people most value and trust.
Fifth Third Bank, National Association, is a federally chartered
institution. Fifth Third Bancorp is the indirect parent company of
Fifth Third Bank and its common stock is traded on the NASDAQ®
Global Select Market under the symbol "FITB." Investor information
and press releases can be viewed at www.53.com. Deposit and credit
products provided by Fifth Third Bank, National Association. Member
FDIC.
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version on businesswire.com: https://www.businesswire.com/news/home/20240229491332/en/
NMSDC Contact: Jered Weber Communications and Engagement Manager
jered.weber@nmsdc.org
Fifth Third Contact: Adrienne Gutbier Vice President and Senior
PR Manager adrienne.gutbier@53.com
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