Nike is donating $1 million to Goalsetter, a finance app for families — and the commitment will help 10,000 Black kids open savings accounts.
As Nike Inc. continues to invest in communities and organizations as part of a $140 million pledge (across the Nike Inc. and Jordan brand portfolio) to address racial inequality, the funding will be directed to Black youth in Boston, Chicago, Los Angeles, Memphis, New York City, Portland and St. Louis — cities where the Swoosh is making local grants.
Goalsetter teaches financial literacy to children of all ages — helping them learn economic concepts, lingo and the principles of financial health. As kids use the Goalsetter app to access their saving accounts, they may develop the foundation of financial literacy by answering a series of questions posed in the app as quizzes and incentives.
“Nike is propelling a historic moment by helping to change the way America educates a whole generation of kids — using culturally-relevant, game-based content to excite and engage them, and start them on a path to financial freedom,” said Tanya Van Court, CEO and founder of Goalsetter.
A Nike spokesperson said Goalsetter’s mission aligns with its own Black Community Commitment goals — specifically focusing on economic empowerment for Black Americans. As part of an overall commitment revealed in 2020, Nike Inc. is investing $40 million over 4 years; Jordan Brand and Michael Jordan will commit $100 million over 10 years.
Since July, Nike, Inc. has announced $1 million each to Black Girls CODE, NAACP Empowerment Programs and the NAACP Legal Defense and Educational Fund, Inc. (LDF) to support the groups’ social justice reform and education work.
Goalsetter has already captured the attention of several big names. In January, the startup raised $3.9 million in a seed round that added investors from the NBA, including Kevin Durant and Chris Paul, who are both Nike Inc. athletes. Baron Davis, who teamed up with Master P to make a bid for Reebok, and ex-New York Yankees pitcher C.C. Sabathia have also signed on.