CHARLOTTE, N.C. — One of the Charlotte area’s most prominent companies is making a major investment in its foundation. Movement Mortgage announced today a $200 million investment to expand its nonprofit Movement Foundation. The record setting investment for the company will accelerate the development of charter schools, affordable housing, health clinics and Hope Centers, which provide health, counseling and faith-based services in developing countries.
Movement Foundation will use the funds in part to develop at least 10 new schools in Charlotte and other cities. Movement hopes to surround the schools with affordable housing and health clinics in partnerships with other entities.
“We built Movement for this purpose, to invest our profit in others, not ourselves,” Movement Mortgage Co-Founder Casey Crawford said in a news release. “By investing in education and community development, we’re building something with generational significance. We’re telling our children they are loved, valued and full of God-given gifts, talents and abilities worthy of our biggest investments.”
Movement Schools are public, tuition-free charter schools serving elementary and middle school students and families. Two schools are currently open with a third under construction. Movement School Freedom Drive opened in 2017 and serves nearly 600 children in kindergarten through fifth grade. Movement School Eastland opened in 2020 and serves 180 children in kindergarten through first grade. Movement Middle School on Freedom Drive will open in 2021. Movement is exploring more sites for future campuses with a goal of 2021 construction.
According to a press release, Movement Mortgage served more than 100,000 families in 2020 with home financing totaling around $30 billion in funded mortgages, a 90% increase in volume compared to 2019. Movement Foundation, a majority shareholder of Movement Mortgage, will receive the $200 million payment as a year-end dividend- the largest one-time distribution in Movement’s history.
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