Recognizing a 25-Year Partnership in Support of Homeless Youth
Last month, Goldman Sachs’ 25-year partnership with Covenant House, an organization that provides housing and support to homeless youth, was recognized with an award at a celebratory event commemorating the nonprofit's 50-year anniversary.
Three Goldman Sachs colleagues attended the event: Benaiah Hoyt, a member of the Investment Banking Division, Ben Grizzle, global co-head of Marquee Sales, and Denis Coleman, the firm’s chief financial officer. Hoyt, a former Covenant House resident, introduced Grizzle and Coleman, who serve on Covenant House’s New York board and board of directors, respectively.
Denis Coleman accepted the award on behalf of the firm and was individually recognized for his personal support of the nonprofit’s mission. He emphasized Goldman Sach’s long-standing commitment to Covenant House: “Our goal, and mine personally, is to work shoulder to shoulder with Covenant House to ensure the highest quality programs and services that will give young people the means and confidence to overcome homelessness. We can only rest from this endeavor when no young person is unhoused or exploited.”
The firm's support for Covenant House has included volunteering during Community TeamWorks projects and participating in Covenant House's annual "sleep out," an event that raises funds and increases awareness of the difficulties faced by homeless youth.
Additionally, in 2019, the Urban Investment Group–the firm's domestic, multi-asset class investing and lending business–provided $61 million in financing to Covenant House to redevelop its existing facility in Manhattan, creating a new 80,000 square foot facility. Located near Port Authority, the facility opened earlier this year, and includes sleeping accommodations, a wellness center and services like mental health counseling and job readiness training. The 24-hour facility is the latest in Covenant House's footprint, which now spans across 30 cities in six countries.