At Synchrony, we believe education is the key to socioeconomic equity. Through our global philanthropic platform, Education as an Equalizer (EAE), we are expanding access to higher education, skills training and financial literacy for marginalized individuals across our communities.
Help low- and moderate-income, marginalized students earn a four-year college degree.
Help low- and moderate-income, diverse students attain the skills and training needed for meaningful and gainful employment, including at the Synchrony Skills Academy and with OneTen.
Provide education that allows people to gain the necessary skills to understand and manage their personal finances.
In 2023, the Synchrony Foundation donated over $8.3 million to 65 organizations, making our overall donations since 2021 more than $19 million and bringing us closer to our target of donating $20 million over five years.
For every $10,000 Synchrony has invested in the community since 2021, 11 people access post-secondary education, 16 people retain or improve their employment, 20 people improve their academic performance, 34 students successfully graduate from high school, and 1 student successfully graduates from post-secondary school.
Since 2021, our Education as an Equalizer investments have reached 18,830 people and generated over 24,600 social impacts thus far. Through these donations, we have:
Synchrony partners with True Impact, a leading Social Impact Measurement Platform, to track outcomes and efficacy of our Education as an Equalizer program. True Impact reviews draft reports submitted by each nonprofit and offers feedback and guidance to ensure accuracy and transparency.
We support...
Synchrony partners with True Impact, a leading Social Impact Measurement Platform, to track outcomes and efficacy of our Education as an Equalizer program. True Impact reviews draft reports submitted by each nonprofit and offers feedback and guidance to ensure accuracy and transparency.
Synchrony’s investment in education is rooted in our commitment to support underrepresented communities. We took to heart that students see a clearer path when people who have similar backgrounds and look like them are there to guide them along the way. In collaboration with our eight Diversity Networks+, we identified our Education as an Equalizer partners. Members from each Diversity Network+ work with selected schools and nonprofits to ensure we are providing students with the best resources possible. Our Diversity Networks+ also work with the students to provide mentorship, guidance and tangible proof that they can achieve greatness.
We are grateful to our Diversity Networks+ for driving MORE awareness and understanding of the unique experiences our communities face and for being enablers of authentic engagement and positive change. Through them, we partner with a number of organizations—the following are just a few we were proud to partner with in 2023.
APEN+ partnered with Ascend Foundation and Ascend, whose mission is to build community and ignite change by developing, elevating and empowering the Asian and Pacific Islander (API) leaders of tomorrow. Ascend leverages the power of research, thought leadership and development to advance API equity at work and beyond. Through Synchrony’s 2023 support, Ascend was able to provide 12 $10,000 scholarships and resources to students.
BE+ partnered with Tuskegee University College of Veterinary Medicine, a historically black college/university (HBCU) in Alabama, to help increase educational and training opportunities for veterinary students and expand pathways for increased diverse representation in the veterinary industry. Tuskegee is the only HBCU in the U.S. that offers a veterinary medical professional program; TUCVM has educated more than 70% of the nation’s Black veterinarians. Our partnership with TUCVM started with Synchrony’s Health & Wellness Pet Team. Synchrony has been supporting TUCVM since 2021 through multi-year grants totaling $400,000 which provide educational and training opportunities for their veterinary students and creates opportunities for increased diversity within the field. Additionally, our team heard the school wanted to create a promotional video as part of a program to raise awareness and drive enrollment. Synchrony employees from our marketing and creative teams immediately jumped in to make it happen. A team of employees pulled together resources and produced the video pro bono. They simply wanted to help the college succeed, so its students can succeed.
EN+ partnered with the University of Connecticut Center for Neurodiversity and Employment Innovation (CNDEI), which addresses under and unemployment for neurodivergent college students and recent graduates. Neurodivergent graduates experience 30–40% under and unemployment, even with college degrees and the skills it takes to do a job.2 Funds from Synchrony are directly impacting and enabling CNDEI to create an Employer-University career experience model that can be implemented across colleges and universities.
HN+ partnered with Association of Latino Professionals For America (ALPFA), which is the first national Latino professional association in the United States. ALPFA serves more than 116,000 professional and student members across the United States. Founded in 1972, ALPFA’s mission is to empower and develop Latino men and women as leaders of character for the nation. In 2023, Synchrony and ALPFA partnered to award 15 $10,000 scholarships and offered a mentoring program, financial literacy training and student access to the ALPFA Convention in San Antonio, Texas.
IN+ partnered with American Indigenous Business Leaders (AIBL), whose mission is to increase the representation of American Indians and Alaska Natives in business and entrepreneurial ventures through education and leadership development opportunities. Their programs are designed to engage students in activities that stimulate, enhance and expand educational experiences beyond traditional academic methods. Through partnership with Synchrony, AIBL offered advanced leadership training, mentoring and networking opportunities to help support academic and professional success. Synchrony also supported the development of a new mentorship program, which AIBL later opened up to another Synchrony partner, American Indian College Fund (AICF), further expanding our impact on the Indigenous community.
Pride+ partnered with Point Foundation, which empowers promising lesbian, gay, bisexual, transgender and queer (LGBTQ+) students to achieve their full academic and leadership potential. Point provides financial support, a community of peers, leadership training and mentorship to U.S. college students. Point also researches and documents challenges LGBTQ students face on U.S. campuses to provide data and resources that help mitigate these issues. Support was given to fund Point BIPOC Scholarships, Opportunity Grants and Point’s mentorship program.
VN+ partnered with Folds of Honor, which provides educational scholarships to the spouses and children of military members who have fallen or been disabled while serving in the United States Armed Forces. They empower people from various walks of life through education and the opportunities it creates, with 45% of scholarships being awarded to minorities. In 2023, Synchrony funded life-changing educational scholarships to the spouses and children of U.S. fallen or disabled military and first responders.
WN+ partners with the Janette Rankin Foundation, which provides unrestricted Scholar Grants to students who identify as women or nonbinary, are 35 years and older and demonstrate financial need. Inspired by Jeannette Rankin, the first woman elected to the U.S. Congress, the organization transforms futures through education. In 2023, Synchrony provided 40 scholarships and funded an emergency assistance fund for the students. Our employees in the Women’s Network+ have also contributed time as mentors and led workshops in interview skills, resume writing and financial literacy. In addition to the Rankin Scholar program, Synchrony also funds Rankin’s new National Tribal College Scholar Grant program. The program supports Indigenous women, Two-spirit and non-binary students who are 25 and older, experiencing financial need, and pursuing a technical or vocational certificate or their first associate or bachelor’s degree.
Education as an Equalizer strives to ensure that a basic right—education—does not become elusive for anyone due to financial or societal concerns. This powerful platform enables us to do MORE to help underserved students and adult learners gain access to the educational experiences they deserve and the confidence to transcend barriers and create a more hopeful, equitable future for themselves and generations to come.
Synchrony’s reach extends beyond our operations in the U.S., it also reaches our communities across the globe.
Our employees in India partnered with U&I Trust, which provides individualized after-school tutoring in English, Math and Science to students, ages 4-16 years old, from marginalized communities across India. The 300 students we support are enrolled in the U&I Teach Program, which emphasizes high-quality teaching and resources to provide students with the best possible educational experience. It also gives students productive after school activities that help them reach their full potential and prevent the social unrest that sometimes comes from idle minds.
In the Philippines, we supported the School for Experiential and Entrepreneurial Development (SEED), which prepares youth with skills in agricultural entrepreneurship. SEED Philippines’ mission is to raise the next generation of agriculture-entrepreneurs that will cultivate and create wealth from the land. Its focus on countryside development attempts to address poverty where it is most acute. We were able to support 30 scholars—who successfully completed the program, enabling them to help establish community food farms all over the country—and built a training hall in the SEED Davao campus.
When we amplified our intentions to advance Equity, Diversity, Inclusion and Citizenship (EDIC), we understood that the road to sustained progress would be never-ending. We know that leading change, while exciting, is also challenging and that some of the toughest parts will be continually holding ourselves accountable and maintaining our stride. We know that many are being asked to deprioritize EDIC, in light of the scrutiny and division around it. Not us. We believe in this work.
When new challenges arise, we understand the impact of stopping or shrinking ourselves. Instead, we see this as an opportunity to leverage our collective passion, continue to align to our mission and do MORE.
That includes more self-examination. In 2023, we saw increased social and political polarization around EDIC, and it gave us an opportunity to look closer at our efforts and our impact. Instead of pulling back, we remained focused and expanded our conversations, because we understand that creating spaces for diversity of thought is part of what helps make our work relevant, real and sustainable. We remain unafraid to address tough questions and welcome discussions about the importance of Equity, Diversity, Inclusion and Citizenship. We want to hear more stories and varied perspectives and enrich our work through those exchanges.
As EDIC continues to evolve, so will our learnings and our aspirations. For us, it’s not about evolving just for the sake of change or to commune with like-minds. It’s about actively seeking out and listening to diverse voices, striving to understand many lived experiences and, ultimately, broadening our community over time. Taking a balanced approach to our efforts, we continue to invite more people into our EDIC community and create environments where everyone feels heard and supported.
We are not perfect but that has never been our goal. Rather, we value progress—even in the midst of learning and growing—and that focus helps us remove barriers to our ability to successfully assess our performance, stay agile and consistently think of new pathways to bring about progress. And we are emboldened by our people continually sharing their feedback on our actions, as they challenge us to be better.
In our second diversity report, we share how our commitment to MORE has resonated throughout our organization and in the communities we serve. Each year we make progress on the aspirations of our EDIC North Star—to enrich every life we touch by leading with Equity in everything we do—and that is inspiring and affirming.
We are proud of our evolution, have momentum to continue to push forward and are motivated to do MORE, see MORE and feel MORE. Thank you for sharing in this journey with us.
Michael Matthews
Synchrony Chief Diversity &
Corporate Responsibility Officer
Brian Doubles
Synchrony President &
Chief Executive Officer
