Funding Builds on Ongoing Support of Workforce Development, Entrepreneurship, Health and Emergency Needs
Bank of America announced today that it has directed more than $22 million in philanthropic funding to support education, jobs, entrepreneurship, health and housing and for people and communities of color as the company continues to deliver on its $1 billion, four-year commitment to advance racial equality and economic opportunity. These grants build on the $250 million in philanthropic funding the company allocates annually to nonprofit partners that address critical needs in the communities they serve.
“Workforce development, job creation and access to health and housing services are some of the most pressing needs facing Black, Hispanic-Latino and Native American individuals,” said Ebony Thomas, Bank of America’s Racial Equality and Economic Opportunity Executive. “By providing this support alongside our national and local partners, we are further addressing many of the challenges facing under-resourced and underserved communities across the U.S.”
$18.35 million for higher education and workforce development
Bank of America is focused on developing stronger hiring pipelines and empowering students to advance their academic and career opportunities. Grants are directed toward:
Additional organizations receiving grants include: Thurgood Marshall College Fund, UNCF (United Negro College Fund), Posse Foundation, American Indian Institute at Mesa Community College, Navajo Technical College, United National Indian Tribal Youth Inc. and the American Indian College Fund.
$1.3 million supporting minority-owned small businesses and minority and indigenous entrepreneurs
Grants support the resiliency of small businesses, assisting Black, Hispanic-Latino and Indigenous entrepreneurs through the U.S. Hispanic Chamber of Commerce, Latino Business Action Network, the California Lutheran University Center for Economic Research & Forecasting with the UCLA Center for the Study of Latino Health and Culture, Echoing Green and Our Native American Business Entrepreneurship Network (ONABEN).
$2.55 million toward health and emergency needs
Recent Bank of America announcements focused on racial equality, diversity and inclusion and economic opportunity include:
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Connect with us on Twitter (@BofA_News).
Reporters May Contact:
Vanessa Cook, Bank of America