For the fifth straight year, the FFAM360 Alliance Of Companies is hosting a back to school supply drive for local school-aged children to ensure that kids have the supplies they need as they return to the classroom.
“As a result of the coronavirus pandemic, the needs in our communities are greater than ever. This year, the FFAM360 Alliance of Companies workplace philosophy is ‘Clearly Go Above and Beyond.’ Charitable giving and volunteerism are one of the cornerstones of our company culture; our employees and leadership are committed to helping the children in our communities start the school year ready to learn,” says Matthew Maloney, President and Chief Investment Officer of the FFAM360 Alliance of Companies. “In 2019, 15 million children, or 21% of all children, in the United States were living in poverty. We recognize the widening financial and educational achievement gaps caused by the ripple effects of the pandemic. Many families can’t afford the rising cost of school supplies and this disadvantage can cause social, emotional, and academic challenges. We don’t want families to choose between paying rent and giving their children a shining start to the new year.”
According to a recent survey by the National Retail Federation, COVID-19 is predicted to push back-to-school shopping to a new record. Parents of K-12 school-aged children spent an average of $696.70 per family last school year. This year, those families are planning to spend approximately $786.49. For only traditional pencil and paper supplies, the cost is expected to average $131.37, up from $117.49 last year. This staggering increase comes as a shock for many families who are struggling financially, battling food insecurity, and trying to figure out how to meet the demand for school supplies that they can’t afford.
“Many parents and guardians are overwhelmed with trying to provide basic necessities, let alone budgeting for school supplies,” continues Mr. Maloney. “Families are facing increasingly hard times but still fighting to give their children the tools they need to succeed. Whether families are preparing for at-home learning or the return to brick-and-mortar classrooms, it’s more important than ever for us to help make sure that students are prepared to begin the new year. This year, our teams are personifying our motto to ‘Clearly Go Above and Beyond’ by donating backpacks filled with assorted school supplies, along with other necessities. Preparedness is a key factor in success and we want children to feel prepared and confident from the very first day. We hope that others will follow our lead and get involved. Today’s children are our next generation and the positive effect of what we do today will be felt for decades.”
To learn more about how we are active in our communities and embodying our commitment to intentional living and our motto, Clearly Go Above and Beyond, please visit the FFAM360 News page.
About FFAM360
The FFAM360 Alliance of companies deploys world-class people, operations, and technology to deliver revenue cycle solutions to their clients that optimize their credit and revenue lifecycles. Founded in 2002 with the vision of creating a best-in-class organization that provides comprehensive solutions across the Insurance Subrogation, Healthcare RCM, Financial Services, and Human Resource Staffing sectors, FFAM360 has achieved many significant awards and recognitions including being honored by the Women’s Business Enterprise National Council
