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MassDevelopment

For Kids Only Afterschool, Inc. Expands Programming in Winthrop Thanks to MassDevelopment Bond

February 20, 2020


FOR IMMEDIATE RELEASE

Contacts:
Jessica Beliveau, MassDevelopment, jbeliveau@massdevelopment.com
617-330-2086 & 857-283-2846 (cell)

Deborah Kneeland Keegan, For Kids Only Afterschool, dkneeland@fkoafterschool.org
978-740-5437 & 617-201-4652 (cell)

MassDevelopment has issued a $2,232,000 tax-exempt bond to For Kids Only Afterschool, Inc. (FKO), a nonprofit offering year-round, licensed out-of-school-time learning and childcare to school-age children in eastern Massachusetts. FKO will use bond proceeds to renovate and equip a building at 233 Winthrop Street in Winthrop that will house afterschool and summer programming for the organization’s students. The organization currently offers programming at William P. Gorman/Fort Banks Elementary School and at a temporary facility located in Winthrop Center. Salem Five Bank purchased the bond, which MassDevelopment enhanced with a guarantee.

“For Kids Only Afterschool, Inc. offers enriching educational programs and coveted childcare services for students, and we’re pleased to help the organization grow its presence in Winthrop,” said MassDevelopment President and CEO Lauren Liss. “Our agency is proud to be a resource for Massachusetts nonprofits like FKO as they expand to better support the families and communities they serve.”

In 2013, MassDevelopment provided a $294,000 loan to For Kids Only Afterschool, Inc., which helped the organization buy its headquarters on Essex Street in Salem.

Founded in 1984, FKO brings families and communities together to provide a safe space for children to thrive during out-of-school hours. The organization serves approximately 1,600 students annually at 18 locations in Chelsea, Everett, Peabody, Revere, and Winthrop. Its programs are offered before and after school and during summer and other vacation breaks.   

“FKO is grateful to MassDevelopment for their support of this project,” says For Kids Only After School, Inc. Executive Director Deborah Kneeland Keegan. “The tax-exempt bond has allowed FKO to develop a state-of-the art out-of-school-time facility that will provide children