Principal Financial Group has entered an agreement with Pi515 to let the nonprofit operate on the first floor of the company’s campus in downtown Des Moines.

According to a news release, Principal is providing an in-kind lease to Pi515, which provides services to underserved teenagers and refugees, offering free programs to develop skills in computer science, entrepreneurship and financial literacy.

Jo Christine Miles, director of the Principal Foundation and Principal community relations, said offering the space free to Pi515 will allow the nonprofit to focus its financial resources on providing services to prepare students for future careers in the digital age.

“Providing space to Pi515 as an in-kind donation is a proactive, innovative approach to investing both in the fabric of downtown Des Moines and the future of the broader community,” she said in a prepared statement.

Pi515 began operating from the space on the first floor of the Principal campus at 710 Ninth St. on Tuesday.

Nancy Mwirotsi, founder and executive director of Pi515, said the transition into the new space comes as the organization celebrates its 10th anniversary.

Pi515 began its partnership with Principal in 2021 with the creation of the Tech Mentorship Program. During the program, young people meet twice a week with Principal employees who volunteer their time at the company’s Community Learning Center at its downtown campus to teach students the technology and professional skills they will need in a digital workforce. Students who participate earn three college credits.

“Here, we’ll create even more opportunities for young people in Des Moines to thrive, equipping them with the skills needed for the future of work,” Mwirotsi said.