Funded by Installed Building Products and Edwards Companies, GimmeFive™ will contribute up to $500 to each enrolled child's CollegeAdvantage Ohio 529 College Savings account
COLUMBUS, OH / ACCESSWIRE / August 22, 2023 / SproutFive, an innovative early education and child care provider, announced today its groundbreaking GimmeFive™ 529 program. In partnership with Installed Building Products (IBP) and Edwards Companies, GimmeFive™ encourages and empowers families to invest in their children's future while breaking down barriers to economic and higher education opportunities.
The GimmeFive™ program is available to all children enrolled at SproutFive and includes an annual contribution of up to $500 from IBP and Edwards Companies into their Ohio CollegeAdvantage 529 Savings account for each year they are enrolled at SproutFive. A $500 annual donation for five years into the account would net individuals, assuming a 6% return, $6,157.23 tax-free dollars for educational costs when they turn 18. IBP and Edwards Companies are initially donating $160,000 in 2023 and will increase donations as enrollment expands, plus an additional $100,000 a year for the next three years (2024-2026).
"SproutFive is committed to driving educational equity while unlocking each child's potential, and we've been honored to offer early childhood education services since 1922 and witnessed its benefits for our community and our youth," said Colin Page McGinnis, CEO of SproutFive. "With the new GimmeFive™ program and funding from IBP and Edwards Companies, we'll further our mission to improve learning opportunities for our littles and set them up for further success in higher education well after leaving our schools."
While the program aims to help as many individuals as possible, specific guidelines are in place to ensure the donation and program create a significant impact with maximum efficiency.
"GimmeFive™ is poised to revolutionize the way we empower our future generations and IBP is honored to align with SproutFive and its visionary mission," said Kelly Clifford Riehl, Vice President of Communications & Community Relations at IBP and President of the IBP Foundation. "With SproutFive's expertise and on-the-ground insights, we trust the parameters set by the organization to maximize the impact of quality education and lifelong learning."
All children enrolled either part- or full-time with an attendance record of 85% or higher each quarter are eligible for contributions. Full-time students will receive $125 per quarter up to $500 annually, and part-time students will receive $37.50 per quarter up to $150 a year. Disbursements will be made each June via Ugift for eligible children and those who enroll outside of the Fall enrollment window will receive credit for funds for their next full quarter.
"We are honored to partner with SproutFive for this innovative program, GimmeFive™, that will reduce barriers to education and economic prosperity for everyone affected, and we're excited to see the future impact they'll have with these new opportunities," said Jeff Edwards, president of the Edwards Companies.
To learn more about the GimmeFive™ program or to make a donation, go to sproutfive.org/gimmefivefund.
Since 1922, SproutFive has been working to ensure every child benefits from a holistic, high-quality early education. The Columbus-based nonprofit's model is to co-locate early education and child care programs within nonprofit hubs, education institutions, affordable housing complexes and workplaces to reduce barriers for families. Coupled with SproutFive's network of schools, the organization leverages its NUDL Institute for Professional Learning and Center for Early Childhood Innovation to position itself as a leader in the sector and works to reimagine the field of early learning.
About Installed Building Products
Installed Building Products, Inc. is one of the nation's largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects in all 48 continental states and the District of Columbia from its national network of over 240 branch locations.
About The Edwards Companies
Edwards Companies is a privately held family-owned corporation that acts as a holding company for numerous operating companies engaged in residential and commercial real estate development and construction. Based in Columbus, Ohio, its various operating companies have led significant developments in communities countrywide.
SOURCE: Installed Building Products