The SunTrust Foundation pledged $500,000 to fund Living Classrooms' financial education center in Baltimore, and Exelon and its subsidiaries Baltimore Gas and Electric and Constellation said they would donate $200,000 to city nonprofits responding to the recent civil unrest.
Through the SunTrust Financial Education Center, the Living Classrooms Foundation offers financial literacy coaching and workforce readiness training in Baltimore's economically challenged areas.
"Living Classrooms Foundation's mission, programs and initiatives are significantly aligned with SunTrust's purpose of 'Lighting the Way to Financial Well-Being,'" said Scott Wilfong, chairman and CEO of SunTrust Bank, Greater Washington/Maryland, and chairman of Living Classrooms board of trustees.
The Exelon companies are giving $100,000 to the Maryland Unites Fund, established by the United Way of Central Maryland and $100,000 to the Baltimore Community Foundation for the recently established Fund for Rebuilding Baltimore. Exelon also is matching 100 percent of employees' personal financial donations, up to $5,000.
The United Way fund is designed to provide aid and emergency supplies to neighborhoods affected by the last week's riots in the wake of Freddie Gray's death from an injury while being arrested, while the rebuilding fund was set up to help rebuild businesses and support efforts to address long-term community needs.
"The Exelon family of companies is part of the fabric of Baltimore and the surrounding communities. Not only do we have major business operations here, our employees and our customers live here," said Chris Crane, president and CEO of Exelon. "The recent events affected us deeply, and we knew immediately that we needed to help."