Bank of America Announces Support of Local Organizations Through $22.1 Million Investment in 2021 Neighborhood Builders® and Neighborhood Champions
Bank of America today announced a $22.1 million investment in support of nonprofit leadership and sustainability through its Neighborhood Builders® and Neighborhood Champions programs – signature philanthropic programs that provide funding and leadership training to nonprofits that are advancing economic mobility and building up underserved neighborhoods.
Since 2004, through its Neighborhood Builders and Neighborhood Champions programs Bank of America has invested more than $285 million in 92 communities across the U.S., partnered with more than 1,400 nonprofits, and helped more than 2,800 nonprofit leaders strengthen their leadership skills. Nearly 17 years after its launch, Neighborhood Builders is one of the nation’s largest philanthropic investments in nonprofit leadership development.
This year’s 142 awardees are organizations from across the U.S. leading the charge to address tough issues related to economic mobility – from workforce readiness and basic needs to broader community development solutions.
“For the past 17 years the Neighborhood Builders program has been a part of our commitment to invest in nonprofit leadership and advance economic mobility in the communities we serve,” said Kerry Sullivan, president, Bank of America Charitable Foundation. “The combination of unrestricted funding and leadership training makes this award unique, and will empower local leaders to tackle unprecedented challenges, dream big, and make connections that lead to new opportunities.”
One hundred 2021 Neighborhood Builder awardees in 50 communities across the country will receive $200,000 in flexible funding, a year of leadership training for the executive director and an emerging leader at the organization, a network of peer organizations across the U.S., and the opportunity to access capital to expand their impact. The program is an opportunity to provide relevant skills development and topics to help nonprofit leaders address current and future community challenges.
In 2019, in order to scale funding and expertise to more communities, the bank introduced the Neighborhood Champions program. While the Neighborhood Builders program is designed to support 100 major and metro markets, Neighborhood Champions was established to support 42 suburban markets and smaller communities across the U.S. Each of this year’s Neighborhood Champion awardees will receive a $50,000 grant and an opportunity for engagement in virtual leadership training delivered by experts in the nonprofit sector.
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).
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Vanessa Cook, Bank of America