The Greater Washington Community Foundation recently launched the Brilliant Future Program, a new initiative aimed at enhancing economic mobility and addressing the wealth gap. This children’s savings account program provides substantial financial support to young students.
Jackson Road Elementary School in White Oak is the first to implement this program. The school announced the initiative on June 10, during the kindergarten graduation ceremony. Foundation CEO Tonia Wellons reported an enthusiastic response from families.
“The initial reaction was one of shock,” Wellons told MCM. “We were very pleased because about half of the kindergarten parents came into the school and signed up their kids for the program.”
The program is available to all students in the current Jackson Road kindergarten class, but parents must visit the school office to complete the necessary paperwork. Wellons anticipates full participation.
The program has been in development for over two and a half years, stemming from insights gained during the pandemic.
“We learned that while we were addressing some symptoms, we often missed the root causes of economic insecurity,” Wellons said. “It’s crucial that our strategies not only bridge the wealth gap but also elevate the economic standing of everyday workers in our region.”
The Brilliant Future Program is part of a broader initiative to bridge the income gap and enable everyone to enjoy Maryland’s rich opportunities. While previous efforts focused on supporting adults and small businesses, this program targets young people.
The program certainly offers significant financial benefits for families, and will likely lead to improvements in academic performance and increased likelihood of graduating and pursuing post-secondary education.
“This program helps us achieve our goals of quality of life, academic success, and providing a tangible asset that students can access after high school,” Wellons said.
For now, the foundation is focusing on just two schools: Jackson Road Elementary School and Bradbury Heights Elementary School in Capitol Heights, Md. These schools were chosen based on their locations in priority neighborhoods with lower homeownership rates and moderate to low-income families. Next year’s kindergarten class at Jackson Road will also be given the same opportunity.
The funding for the program comes from community foundation donors and fundholders, with additional interest from individual donors and corporate partners.
Wellons emphasized that the Community Foundation does not plan to overlook education. They are committed to providing ongoing financial literacy training and having readily available resources for both parents and children.
“We’re committing to a long-term program,” Wellons said. “Our nonprofit partners will work with the families to determine what additional support they need.”
The foundation will ensure that children remain enrolled in the program even if their families move within Montgomery County. Wellons wants to make sure that every child who is a part of the current cohort will have access to the savings account when they graduate, no matter where that may be.
“We are as excited as the parents and families are to launch this initiative,” Wellons added.
For more information on how to get involved or to support the Brilliant Future Program, visit the Community Foundation’s website or contact their local school for enrollment details.
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