NEW YORK, N.Y. /ScoopCloud/ -- Move For Hunger, a national hunger relief non-profit organization, today announced that they will partner with the Private Real Estate business within Goldman Sachs Asset Management (Goldman Sachs) on a national program that leverages both organizations' networks to create scalable social impact through community-based food distribution channels.
This new partnership, the first of its kind with an institutional real estate investor, will help Move For Hunger transport more food to those in need and become a standard offering at eligible existing Goldman Sachs multi-family real estate investments, and future acquisitions. The program involves establishing a seamless and easy process that provides residents with a donation kit and instructions for packaging food that would
have otherwise been discarded. Through a national network of professional moving companies, Move For Hunger collects resident food donations from each participating property on a regular cadence and delivers the donated items to local food banks for distribution.
With thousands of units in more than 40 cities in the current multifamily portfolio, this represents a large-scale opportunity to create consistent and ongoing positive impacts in the communities where the team invests. In rental communities, a steady flow of resident turnover and lease expirations typically means an increase in items that end up in the onsite dumpsters. Among the many household items that are often disposed of during a move, pantry items and nonperishable foods are commonly found in the trash receptacles. This program is a strong example of how strategic relationships can enable market participants to connect the dots and make the user's and beneficiary's experiences, easy and streamlined. The impact is also clear with Move For Hunger collecting more than 5 million lbs of food (4 million meals) in 2020 alone.
On the partnership, Nicolette Jaze, a Vice President who manages operational ESG integration for real estate investments at Goldman Sachs Asset Management says, "The obvious benefit here is rescuing and delivering countless pounds of food to community-based organizations that can quickly activate to get these donations in the hands of those who need them most. The less obvious, yet highly impactful benefit is the connectivity that Move For Hunger is creating between properties and local communities. They are the facilitators of a classic neighbor-helping-neighbor framework that is critical to strengthening communities and creating sense of place."
"We are absolutely thrilled to add Goldman Sachs and their properties to the Move For Hunger network," said Adam Lowy, Executive Director and Founder of Move For Hunger. "Hunger is experienced in every zip code and the diversity of Goldman Sachs' portfolio will allow us to make a positive impact in cities all across the United States."
In the U.S., food insecurity is on the rise. Due to the pandemic, 5 million more Americans (42 million in total) are going hungry including 1 in 6 children. All the while, 35% of the food produced in the country is ending up in landfills. The new partnership between the two organizations will help get food in the hands of the people that need it most.
About Goldman Sachs Asset Management
Goldman Sachs Asset Management is the primary investing arm of The Goldman Sachs Group, Inc. (NYSE: GS). We provide investment and advisory services for some of the world's leading institutions, financial advisors and individuals. We invest across public and private markets through one world-class investing platform with more than $2 trillion in assets under supervision. Founded in 1869, Goldman Sachs is a leading global financial institution that delivers financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base. Visit www.gsam.com for more information. Follow us on LinkedIn.
About Move For Hunger
Move For Hunger is a national non-profit organization that has created a sustainable way to reduce food waste and fight hunger. We have mobilized the leaders of moving, relocation, and multifamily industries to provide their customers, clients, and residents with the opportunity to donate their food when they move. Members of Move For Hunger also organize community food drives, participate in awareness campaigns, and create employee engagement programs. For more information, or to find out how you can host your own food drive, visit https://moveforhunger.org/.
Move For Hunger, a national hunger relief non-profit organization, today announced that they will partner with the Private Real Estate business within Goldman Sachs Asset Management (Goldman Sachs) on a national program that leverages both organizations' networks to create scalable social impact through community-based food distribution channels.
Related link: https://moveforhunger.org/
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