Delaware Money Moves: $500K for teen education, affordable housing

Nonprofits take the forefront in this month’s Money Moves, as two high-impact community organizations receive grants from WSFS Bank’s charitable Foundation.

Plus, DuPont acquires another medical device company, Dover gets a “super-plant” and sports tourism gets a boost — read on for details.

TeenSHARP and Be Ready awarded $500,000 from WSFS Cares

Two Wilmington nonprofits, TeenSHARP and Be Ready, received a total of $500,000 in grants from WSFS Bank’s charitable foundation that will increase affordable housing and help under-resourced youth go to college.

TeenSHARP, founded by Atnre Alleyne and Tatiana Poladko in 2009 and based in Wilmington since 2017, helps under-resourced teens in the Greater Philadelphia region get into top colleges and universities. Its extracurricular and summer program aims to fill educational gaps and advocates for students to be put into honors classes.

TeenSHARP helps predominantly Black and Latino students get into college despite challenges, including the overturning of Affirmative Action in 2023. It will receive $300,000 over three years for its A-List program, which provides participants with assistance from high school through college and into professional careers.

The late Lottie Lee-Davis founded Be Ready Community Development Corp., in 2003 as a community revitalization organization in the Hilltop neighborhood. It will receive $200,000 over two years to complete its Solomon’s Court mixed-use development at 4th and Rodney Streets in Wilmington’s West Side. The second and final phase of the project will create 12 additional affordable rental housing units, bringing the total to 18, and 5,600 square feet of ground floor commercial space for small businesses.

DuPont acquires Donatelle Plastics for its “New Dupont” plan

Just weeks after announcing it would split into three separate publicly traded companies, DuPont announced that it acquired Donatelle Plastics, a Minnesota-based medical device manufacturer. The amount of the sale was not disclosed.

The three companies spinning out of DuPont will be a water business, an electronics business, both yet to be named, and New DuPont, a diversified industrial company. Donatelle Plastics will be part of New DuPont, which will have a focus on medical devices, medical packaging, biopharma consumables and electric vehicle devices.

More Money Moves:

• The Sports Tourism Capital Investment Fund Review Panel announced $11.3 million for four facilities spanning all three Delaware counties
• Delmarva Corrugated Packaging showed off its $90 million high-tech manufacturing facility in Dover that has created jobs for 160 people.
• ChristianaCare’s Wilmington Campus receives $1 million gift.
• Seven Delaware child care and learning organizations have received over $2 million in Department of Education funding to deepen education services.
• Delmarva Corrugated Packaging opens $90M highly efficient, 30% solar powered advanced manufacturing plant in Dover.