Morgan Stanley has announced a substantial commitment of $20 million over the next five years to its Alliance for Children’s Mental Health, raising the initiative’s total funding to $50 million since its inception in 2020. The Alliance aims to bolster its efforts in delivering programming and research, fostering transformative solutions through the Innovation Awards, and increasing its impact on children of all ages.
To broaden its scope to early childhood care and workforce development for pediatrics, the Alliance has welcomed two new members to its esteemed roster of nonprofits:
- The American Academy of Pediatrics, representing 67,000 pediatricians and pediatric specialists in the U.S., will enhance the preparedness of pediatricians to address the immediate mental health needs of children, particularly in medically underserved communities. A new Pediatric Mental Health Education Center will equip pediatricians with the necessary knowledge, tools, and collaborations to provide mental health support in their practices and communities.
- Sesame Workshop, the global impact nonprofit behind Sesame Street, will expand its early childhood mental health initiative to focus on early detection and prevention, aiding young children and their caregivers in marginalized communities across the U.S. Sesame Workshop will partner with key early childhood networks, including Head Start programs and family, friend, and neighbor (FFN) care providers, to enhance support for children’s emotional well-being and communicate methods to identify and manage signs of emotional distress.
Ted Pick, Chief Executive Officer of Morgan Stanley and Chair of the Morgan Stanley Alliance for Children’s Mental Health Advisory Board, emphasized the firm’s commitment to children’s health as an integral part of its community engagement. He highlighted the addition of two exceptional members, the American Academy of Pediatrics and Sesame Workshop, to the Alliance, emphasizing their collective efforts to drive positive change.
Mark Del Monte, Chief Executive Officer and Executive Vice President of the American Academy of Pediatrics, stressed the crucial role pediatricians play in addressing children’s mental health needs and the importance of providing them with essential education and resources.
Sherrie Westin, President and Interim CEO of Sesame Workshop, highlighted the significance of addressing the mental health crisis affecting young children and underscored the importance of nurturing emotional well-being from an early age.
Since its inception, the Alliance has positively impacted over 37 million children, caregivers, and educators globally. It has provided $1.5 million in grants to 15 early-stage nonprofits to scale transformative mental healthcare solutions across the U.S. through its Innovation Awards program. Additionally, the Alliance has supported over 85 nonprofits through education and capacity-building programs and has conducted research and convenings on various topics, including the impact of the pandemic on youth mental health.
Joan Steinberg, President of the Morgan Stanley Foundation and CEO of the Alliance Advisory Board, emphasized the critical need for further advocacy and philanthropic funding to address the growing youth mental health crisis. She encouraged collaborative efforts to reduce the significant funding gap in this space and advocate for the mental well-being of children and youth.
The current members of the Alliance include the Child Mind Institute, Columbia University Department of Psychiatry, The Jed Foundation (JED), Mind HK, New York-Presbyterian Morgan Stanley Children’s Hospital, Place2Be, and The Steve Fund.
For more information about the Morgan Stanley Alliance for Children’s Mental Health, please visit the provided link.
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