Jayson Tatum, a power forward for the Boston Celtics, revealed on Tuesday that the financial services business SoFi has donated $1 million to his organization.
Jayson Tatum recalls his initial home-buying experience.
The five-time NBA All-Star power forward for the Boston Celtics, who will start for the Eastern Conference in this year’s All-Star Game on Sunday, said, “It didn’t seem real.”
In an interview with The Associated Press, Tatum expressed his desire to assist people in his hometown of St. Louis in experiencing the same thrill and becoming homeowners. He added the Jayson Tatum Foundation has received a $1 million donation from financial services business SoFi to assist with that.
With the donation made public on Tuesday, the foundation will launch the SoFi Generational Wealth Fund, which will provide grants to prospective homeowners to assist with down payments.
Tatum said, “I can’t express how thrilled I am just realizing how many lives and the families that we can impact.” “And growing up, I can only imagine how much this would have affected both my mom and me.”
At the time of his birth, Tatum, 25, was raised by his mother, Brandy Cole-Barnes, who was 19 years old.
“When I was growing up, neither my mother nor I knew about savings accounts or investments. However, it was evident that we needed to study and ask questions when I joined the NBA and began earning money, according to Tatum. and even as a little child, it was always significant to me. I simply knew that I wanted to help others who like me and who had a similar upbringing.
Tatum’s charitable organization was founded in 2017, the year he was selected by the Boston Celtics. It organizes basketball camps, toy drives, and back-to-school events in St. Louis. In addition to mentoring, it provides scholarships to high school students in St. Louis. The new fund is a component of a program Tatum said he has been planning to unveil for a while and that will assist single parents.
Regarding his charitable endeavors, which he views as encompassing much more than monetary donations, Tatum remarked, “It’s about making sure you’re with the right people.”
Tatum stated, “I always try to visit St. Louis as much as I can, as frequently as I can, especially in the summer.” “Just being aware of the influence my presence and presence there can have on my community.”
The funds will be provided by SoFi over a period of three to five years, and the foundation will choose how to choose participants. It is not necessary for participants to obtain a mortgage through SoFi. All members will have access to financial advisory services and tools, though, thanks to SoFi.
Tatum added that it looked like the ideal time to raise awareness of financial literacy and generational wealth because his team is leading the Eastern Conference and the All-Star Game on Sunday.
According to SoFi CEO Anthony Noto, “purchasing a home is a significant milestone – representing stability, security, and investment – these are things we believe everyone deserves a chance at achieving on their financial journey.” In addition, the business declared that it will be the NBA’s official banking partner. It will also be the sponsor of the April SoFi NBA Play-in Tournament.
They should approach their philanthropy in a similar manner to how they visualize their path in their sport and follow these many steps to reach their goals, according to Belinkie.
Many sportsmen are unaware of the hazards involved with starting a new organization, according to Handler Thayer partner and attorney Andrew Morton, who oversees the company’s sports and entertainment philanthropy practice. He suggests that sportsmen seek the assistance of a fiscal sponsor and added that even those without a large following or millions to spare may still have a significant impact if they match their objectives with their capabilities.
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