Number 138
Image source: ForgiveCo
Atlanta Dream, Cash App & ForgiveCo
Step Up For Atlantans In Debt
Featured Focus:
Partnerships for Good, Direct Financial Support,
Social Justice
Scope of Impact:
Local
Scouting Report: The Atlanta Dream, in partnership with Cash App and ForgiveCo, is continuing to set a new standard for sports philanthropy with a strategic, purpose-driven play that redefines community impact. Here's a breakdown of the initiative:
Tangible Financial Relief: The collaboration has resulted in the elimination of a staggering $10 million in consumer debt for 3,500 individuals across Atlanta’s most financially burdened communities. The program provided relief for debts ranging from $500 to $80,000, addressing a diverse cross-section of residents and providing them with a path toward stability.
A Powerful Cultural Tie: The initiative is a good example of strategic alignment. Its announcement was deliberately timed to coincide with the 62nd anniversary of Dr. Martin Luther King Jr.'s "I Have a Dream" speech, explicitly connecting a modern act of economic justice to a powerful legacy of social advocacy.
An Innovative Mechanism: The efficacy of the program hinges on ForgiveCo's innovative Public Benefit Corporation model, which acquires large portfolios of debt at a significantly reduced rate to then eliminate it.
This partnership demonstrates a willingness to go beyond a surface-level public relations win. You may remember that the Atlanta Dream and Cash App collaborated on another impactful initiative last May (Pay Some Respect To Women’s Sports - DL95). This time, they deployed a sophisticated mechanism to address a core issue of their community: debt relief.
The Atlanta Dream provides the cultural currency and community credibility, leveraging its identity to drive trust and engagement. Cash App supplies the financial capital and the tech infrastructure necessary to execute a large-scale program. And, ForgiveCo provides the legal and operational mechanism for debt elimination. The sum of these parts is a force far greater than any single entity could have achieved alone.
We also love that this initiative was launched on the anniversary of Dr. Martin Luther King Jr.'s "I Have a Dream" speech. It has a direct link to what this partnership is trying to accomplish, providing the freedom to pursue home ownership, attend college, or make a down payment on a car, and it is a nod to the Atlanta Dream team name, inspired by MLK’s legacy.
The Dream and Cash App are now 2/2 in our book!
The Dream celebrated the launch of this wonderful initiative by organizing a girls’ basketball clinic with members of its front office, players, and Cash App Executives set to deliver remarks. However, we’d add a longer tail activation to this partnership with some financial literacy classes to help put community members, especially young people, on a different path.
Have you seen other examples of partnership between a sports franchise and brands that follow the same blueprint as this one?
