Merrill Lynch Plans Gift to National Guard Youth Foundation


By Laura Saunders Egodigwe
Caressa Gibson, a recent graduate
of the ChalleNGe program.

Caressa Gibson, a recent graduate
of the ChalleNGe program.

Seventeen-year-old Caressa Gibson's life spiraled downhill when she was in the seventh grade. She started drinking, suffered depression and dropped out of school. But since graduating from the National Guard Youth ChalleNGe program last year, she is becoming a positive example for her peers. The ChalleNGe program, she said, "dramatically changed my life and has given me a reason to live."

Now, with a $1 million gift from Merrill Lynch, the ChalleNGe program can do even more. Merrill Lynch announced its donation to the National Guard Youth Foundation, which runs the ChalleNGe program, on February 28 at the foundation's ChalleNGe Championship dinner in Washington, D.C.

The gift will fund scholarships for graduates from the program to attend the college of their choice. In addition, Merrill Lynch's financial literacy initiative, Investing Pays Off®, will be added to the Youth ChalleNGe program and supported by Merrill Lynch volunteers nationwide.

"Merrill Lynch believes in the power of education to transform lives, and like the ChalleNGe program, in the difference a caring mentor can have on a young person's life," Paul Critchlow, vice chairman, Public Markets, and counselor to the chairman, said in announcing the gift.
Paul Critchlow, second from left, with foundation board member Elaine Rogers, Senator Mary Landrieu and foundation chairman John B. Conaway.

Paul Critchlow, second from left, with foundation board member Elaine Rogers, Senator Mary Landrieu and foundation chairman John B. Conaway.

Eddy Bayardelle, president of the Merrill Lynch Foundation, noted that nearly 3,000 young people drop out of U.S. high schools every school day. "The importance of programs like the National Guard Youth ChalleNGe program simply cannot be underestimated in helping these young people get their lives back on track," he said.

Greg Sharp, president and CEO of the National Guard Youth Foundation, praised Merrill Lynch for its commitment. "Merrill Lynch's support is just tremendous. Without the company's support, I don't know where we'd be today," he said.

Before the dinner, participants in the program, called cadets, landed a meeting with U.S. Defense Secretary Donald Rumsfeld in the briefing room of the Pentagon. "Our future will be written by your generation. Each of you have already taken on some tough tasks at your young ages, and you've worked hard to try to forge a better future for yourselves," Secretary Rumsfeld told them. "I congratulate each of you on what you've achieved."

U.S. Senator Mary Landrieu, Democrat of Louisiana, who was honored at the dinner for her work with the program, thanked Merrill Lynch for its generous support. "I have literally been involved with hundreds of education-related programs and this may be the finest I've ever been involved in. I just want to quadruple the size of it," she said.
Eddy Bayardelle, left, with John Simmons, director of GPC's Washington complex; cadet Michelle Hanagami; FA Patrick Burke, of GPC's Alexandria, Virginia, office, and Chad Clark, sales manager of the Washington complex.

The 17-month National Guard Youth ChalleNGe program is open to young people ages 16 to 18 who have dropped out of high school. The federal-state partnership operates 30 program sites in 25 states and Puerto Rico and has graduated 63,000 young people, 96 percent of whom have continued their education, entered the workforce or joined the military. The program has been recognized as one of the nation's most effective and cost-efficient programs for targeting youth with the greatest risk for substance abuse, teen pregnancy, delinquency and criminal activity.
Eddy Bayardelle, left, with John Simmons, director of GPC's Washington complex; cadet Michelle Hanagami; FA Patrick Burke, of GPC's Alexandria, Virginia, office, and Chad Clark, sales manager of the Washington complex.

Participants in the program live for five months at program sites and are mentored for 12 months following graduation. The program has eight core components: Leadership/Followership, Responsible Citizenship, Service to the Community, Life Coping Skills, Physical Fitness, Health and Hygiene, Job Skills and Academic Excellence.

"It fits with the history and the culture of Merrill Lynch," said John Simmons, director of Global Private Client's Washington, D.C., complex, noting that company founder Charles Merrill was a war veteran who passed down lessons of innovation, responsibility and service to other company leaders. "The National Guard Youth ChalleNGe program is a perfect fit with the company's history, and it's fitting for the current leadership of Merrill Lynch to be involved with helping our country, and our community, to be innovative and to serve."