Robin Hood, New York City’s largest poverty-fighting organization, launched a $100 million Child Care Quality & Innovation Initiative for New York City this month.
It was announced by the Robin Hood Foundation, New York City mayor Eric Adams, and venture capitalist Alexis Ohanian.
It was announced during Robin Hood’s annual event to benefit poverty-fighting efforts in New York. The initiative is funded with commitments of $50 million from Robin Hood—including a $25 million donation from Ohanian’s 776 Foundation, and $50 million from New York City.
At the event, Robin Hood raised $126 million, which will support poverty-fighting programs citywide.
The Initiative plans to use the funds to make high-quality, affordable child care more accessible while improving the quality of care. It will also fund the expansion of childcare and oversee the creation of an online portal that will streamline the application process for vouchers. It will also encourage models that pay providers more fairly and promote opportunities for growth within the sector.