The Morgan Stanley Heart Yard will provide a permanent centre for its therapeutic work with some of the most vulnerable children it supports. The building will be Kids Company’s first major asset, an important step in ensuring a sustainable future for charity, which relies on public, corporate and government support for its annual budget.
In early 2010, the London employees of investment bank Morgan Stanley voted to focus their fund raising efforts on a two-year charitable partnership with Kids Company. Employees have raised £650,000 to date through a variety of fund raising activities, including Quiz Nights, Dragon Boat Races, bake sales, raffles, summer barbeques and athletic events. Each £ raised by employees is matched by the Morgan Stanley International Foundation, Morgan Stanley’s philanthropic arm in EMEA, for a total raised to date of £1.3 million.
The new Morgan Stanley Heart Yard building will now be renovated and fitted out and is expected to open in Autumn 2012.
Kids Company Founder and Chief Executive Camila Batmanghelidjh said: 'This is an incredibly important step for Kids Company – the new building is the result of tremendous support and kindness from everyone at Morgan Stanley and will make a real difference on our ability to create positive futures for the many children who come to us for help. Owning our first building will allow us to direct additional funds to providing practical, emotional and educational support to vulnerable children'.
Morgan Stanley Co-President of Institutional Securities Colm Kelleher said: 'We’re delighted to be supporting Kids Company with the purchase of this building. Giving back to the communities in which we live and work is an ingrained aspect of our culture at Morgan Stanley. Kids Company and the wonderful work that they do has truly resonated with our employees, who have not only contributed financially, but have spent many hours volunteering with the charity. We’re looking forward to helping with the renovation and fit out of the building, and to the opening in the autumn'.