MasterCard Worldwide has announced a $1 million grant to the New York City-based Network for Teaching Entrepreneurship for education programs geared toward middle and high school students in low-income communities nationwide.

The grant will support NFTE's core youth entrepreneurship program, which provides hands-on learning and classroom lessons on mathematics, analytical skills, and business management and planning. As part of the commitment, MasterCard employees will be invited to serve as volunteer educators and help create digital master classes that can be accessed by teachers around the world.

The grant also will support NFTE University, a comprehensive suite of technical assistant and professional development programs for teachers; the organization's Global Enterprising Educators of the Year Awards; and the sixth annual National Youth Entrepreneurship Challenge — a day-long competition during which teens present their innovative business ideas — as well as eleven regional competitions and other research and evaluation initiatives.

"Our support of NFTE and its inspiring programs expands MasterCard's commitment to empower today's youth to realize successful futures through entrepreneurship and educational empowerment," said Patricia Devereux, head of corporate philanthropy and citizenship at MasterCard Worldwide. "NFTE teaches students the fundamentals of becoming financially independent by keeping them on a path to high school graduation and, in some cases, running their own businesses. We are delighted to help fuel their path to success."