MassDevelopment

For Kids Only Afterschool Buys Headquarters With $294,000 MassDevelopment Loan

May 29, 2013


Contacts:
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077 (cell)
kabbruzzese@massdevelopment.com
Briana Kneeland, For Kids Only Afterschool, 987-740-5437, Ext. 22
bkneeland@fkoafterschool.org

MassDevelopment has provided a $294,000 loan to For Kids Only Afterschool Inc., a nonprofit organization that offers afterschool, school vacation, and summer programs in Everett, Peabody, Revere, Salem, and Winthrop. For Kids Only Afterschool will use loan proceeds to purchase its headquarters on Essex Street in Salem, which houses its administrative offices.

“For Kids Only Afterschool offers affordable and quality after-school care, providing an enriching environment for children and allowing parents to work or pursue education” said MassDevelopment President and CEO Marty Jones. “We’re pleased to offer the financing so the organization can buy its home, cementing its presence in the Commonwealth’s Gateway Cities.”

Founded in 1984, For Kids Only Afterschool programs provide working families with year round out-of-school time programming. Parents of FKO children are able to work, search for employment, or pursue education or job training knowing that their children are in a safe and enriched learning environment. All FKO afterschool and summer programs offer academic, recreational, and social activities that expand school day learning and build skills necessary for lifelong success. FKO works with families, schools, and communities to provide services for low-income families, children with special needs, and homeless and military families.

“With the support from MassDevelopment, For Kids Only Afterschool is able to provide a solid infrastructure to support our program work in partnership with public schools across the North Shore. This facility provides a colorful, friendly, modern work environment for our Leadership Team, which consists of the Executive Director, Director of Finance and Human Resources, Director of Child and Family Services, Director of Development, Director of Curriculum and Programs and other administrative positions. The facility offers cutting-edge technology and a conference space to generate innovative thinking and planning for our expanded learning programs that support the healthy development of school-age children during the out of school time hours,” said Deborah Kneeland Keegan, FKO Founder and Executive Director.

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2012, MassDevelopment financed or managed 280 projects generating investment of more than $2.3 billion in the Massachusetts economy. These projects are projected to create more than 12,000 jobs and build or rehabilitate 900 residential units.