T.D. Jakes Foundation: Comprehensive Company Profile

Background

The T.D. Jakes Foundation is a nonprofit organization dedicated to improving lifelong outcomes for communities and individuals with limited access to resources and opportunities. Established by Bishop T.D. Jakes, the foundation focuses on financial inclusion, educational access, workforce readiness, and community transformation. Its mission is to empower individuals and uplift entire communities by breaking down barriers and creating pathways to success.

Key Strategic Focus

The foundation's strategic initiatives are centered around three primary pillars:

• Financial Inclusion: Implementing programs that promote wealth generation and economic mobility through affordable housing, financial education, entrepreneurship, and community capacity building.

• Educational Access & Workforce Readiness: Providing quality education programs, certifications, and workforce training to equip individuals with future-proof skills for the evolving job market.

• Community Transformation & Well-being: Enhancing community well-being by facilitating access to health services, creating sustainable environments, and offering comprehensive support systems.

Financials and Funding

In 2023, the T.D. Jakes Foundation reported revenues of approximately $7.05 million and expenses totaling around $5.14 million, resulting in a net income of $1.9 million. The foundation's total assets stood at $4.04 million, with liabilities of $1.86 million. Notably, in April 2023, the foundation announced a 10-year partnership with Wells Fargo, potentially resulting in up to $1 billion in capital and financing to support underserved communities across the United States.

Pipeline Development

The foundation has launched several key initiatives, including:

• PATHWAY Program: An innovative program designed to streamline the delivery of social services, guiding participants from workforce readiness to job placement and ongoing self-sufficiency.

• Good Soil Movement: A national initiative aimed at spurring Black entrepreneurship through business accelerator events, providing resources, capital, and connections to help entrepreneurs scale their businesses.

• TORI (Texas Offenders Reentry Initiative): A program facilitating successful reintegration for returning citizens by addressing employment, education, housing, healthcare, spiritual guidance, and family reunification.

Technological Platform and Innovation

The foundation leverages technology to enhance its programs:

• PATHWAY Software: A proprietary platform that integrates social service providers and their clients, offering real-time connectivity and a holistic view of the programs and services received, including childcare, housing, education, and job placement.

• Nourysh Platform: An all-in-one e-commerce platform designed to empower underrepresented entrepreneurs by providing affordable solutions to scale their businesses.

Leadership Team

• Bishop T.D. Jakes: Founder and Chairman, renowned for his leadership in ministry and community development.

• Kelley Cornish: Appointed as CEO in May 2023, Cornish brings extensive experience in diversity, equity, and inclusion, having previously served as Executive Vice President at Wells Fargo.

Leadership Changes

In May 2023, Kelley Cornish succeeded Hattie Hill as CEO of the T.D. Jakes Foundation. Hill had served as Secretary and Director until March 2023.

Competitor Profile

Market Insights and Dynamics

The nonprofit sector focusing on financial inclusion, education, and community development is highly competitive, with numerous organizations striving to address systemic inequities and promote economic mobility. The market is characterized by a growing emphasis on innovative solutions and strategic partnerships to maximize impact.

Competitor Analysis

Key competitors include:

• Operation HOPE: Focuses on financial literacy and economic empowerment, offering programs in credit counseling, homeownership, and entrepreneurship.

• United Way: A global nonprofit addressing education, income, and health challenges through community-based initiatives.

• The Milken Institute: A nonprofit think tank focused on accelerating measurable progress in health, finance, and philanthropy.

These organizations share similar goals but differ in their approaches, partnerships, and program implementations.

Strategic Collaborations and Partnerships

The T.D. Jakes Foundation has established significant partnerships to amplify its impact:

• Wells Fargo: A 10-year strategic partnership announced in April 2023, potentially resulting in up to $1 billion in capital and financing to support underserved communities.

• Stand Together Foundation: Collaborated on the Good Soil Movement to spur Black entrepreneurship through business accelerator events.

• Various Corporate Partners: Including Wells Fargo, Dallas Mavericks, State Farm, The Coca-Cola Company, and Goldman Sachs, supporting various initiatives and programs.

Operational Insights

The foundation's strategic considerations include:

• Program Integration: Utilizing proprietary technologies like the PATHWAY software to streamline service delivery and enhance participant outcomes.

• Partnership Leverage: Collaborating with corporate and nonprofit partners to expand reach and resources, ensuring sustainable impact.

• Focus on Underserved Communities: Tailoring programs to address the unique needs of historically marginalized groups, promoting equity and inclusion.

Strategic Opportunities and Future Directions

The T.D. Jakes Foundation is poised to:

• Expand Program Reach: Scaling initiatives like the PATHWAY program to additional cities nationwide over the next two to three years.

• Enhance Technological Capabilities: Continuing to develop and implement innovative platforms like Nourysh to support entrepreneurs.

• Strengthen Partnerships: Building on existing collaborations and seeking new alliances to amplify impact and resource availability.

Contact Information

• Website: tdjfoundation.org

• Social Media:

• Instagram: @tdj_foundation

• Twitter: @TDJakesFdn

• Facebook: T.D. Jakes Foundation

This profile provides a comprehensive overview of the T.D. Jakes Foundation, highlighting its mission, strategic initiatives, financials, leadership, partnerships, and future directions.