Stena Foundation

Overview

The Stena Foundation is a 501(c)(3) nonprofit organization based in Salt Lake City, Utah. It aims to address systemic challenges and improve lives through strategic initiatives and partnerships.

Mission and Activities

The foundation focuses on supporting innovative projects, particularly in the realm of financial technology (fintech). A notable example of its commitment is the establishment of the Stena Center for Financial Technology at the University of Utah. This center serves as a hub for education and industry collaboration, fostering innovation in fintech through research, entrepreneurship, and educational programs.

Key Initiatives

• Stena Center for Financial Technology: Established with a significant commitment from the Stena Foundation, this center supports the development of fintech education, research, and innovation. It offers various programs, including industry-sponsored labs, fintech-focused degrees, and an annual fintech summit to foster collaboration and knowledge sharing among industry leaders, students, and faculty.

Founders

The Stena Foundation was founded by Steve and Jana Smith. Steve Smith is a fintech entrepreneur and has played a significant role in the fintech industry, including his work as Mastercard's chief engagement officer for global open banking.

Financial and Strategic Impact

The foundation's support for the University of Utah includes a substantial 10-year commitment aimed at expanding financial technology innovation and education. This initiative underscores the organization's role in promoting economic growth and educational opportunities, particularly in Utah's fintech ecosystem.

Legal Status

The Stena Foundation is registered as a 501(c)(3) organization, qualifying it for tax-exempt status based on its charitable, educational, and scientific purposes.