Source: Bank of America Merrill Lynch
Headline: Bank of America Announces $22.1M Investment in 2020 Neighborhood Builders® and Neighborhood Champions in Support of Local Organizations
Bank of America today announced a $22.1M investment in support of nonprofit leadership and sustainability through its Neighborhood Builders and Neighborhood Champions programs. The 142 awardees from across the U.S. are organizations leading the charge to address tough issues related to economic mobility – from workforce readiness and basic needs to broader community development solutions.
“We launched the Neighborhood Builders program in 2004 to invest in nonprofit leadership and drive economic and social progress in communities across the U.S.,” said Andrew Plepler, global head of Environmental, Social and Governance at Bank of America. “Today, 16 years later, we recognize that supporting nonprofit leaders and their organizations remains critical to helping move communities forward. We’re proud that the program continues to provide timely and relevant tools to help our partners plan strategically for growth and long-term sustainability.”
One hundred awardees in 50 communities across the country were named Neighborhood Builders. Each Neighborhood Builders awardee receives $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 Neighborhood Builders program is an opportunity to provide relevant skills development and topics to help nonprofit leaders address current and future community challenges. Each year, Bank of America refines the Neighborhood Builders Leadership Program to include topics ranging from strategic storytelling to human capital management, and highlights themes that are critical to moving the nonprofit sector forward within broader societal and economic context. This year, the program has pivoted to virtual communications, delivering topics that speak to the challenges that communities are facing – from the health and humanitarian crisis brought on by the coronavirus to the need for progress on racial equality and economic opportunity. The Neighborhood Builders program continues to be a relevant and timely initiative to support communities nationwide.
In 2018, Neighborhood Champions was introduced, scaling the program to an additional 42 smaller communities served by Bank of America. Each of this year’s 42 awardees will receive a $50,000 grant and an opportunity for engagement in virtual leadership training delivered by experts in the nonprofit sector.
Since 2004, Bank of America’s Neighborhood Builders and Neighborhood Champions programs have invested more than $265 million in 92 communities across the U.S., partnered with more than 1,300 nonprofits, and helped more than 2,600 nonprofit leaders strengthen their leadership skills. Nearly 16 years after its launch, Neighborhood Builders is one of the nation’s largest philanthropic investments in nonprofit leadership development.
Focused on advancing economic mobility, Bank of America recently announced:
Seven Completed Equity Investments in Minority Depository Institutions and Community Development Financial Institution Banks
$2 Billion Equality Progress Sustainability Bond
Universal ESG Reporting; International Business Council of World Economic Forum
Recognition as Top Global Bank on Fortune’s “Change the World” List
$300 Million of Its $1 Billion, Four-Year Commitment to Advance Racial Equality and Economic Opportunity
Support of Boys & Girls Clubs of America With $1 Million Grant to Support Educational Programs
$1 Billion/4-Year Commitment to Support Economic Opportunity Initiatives
$250 Million in Capital and $10 Million in Philanthropic Grants to Community Development Financial Institutions (CDFIs)
Bank of America
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. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).
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Reporters may contact:
Vanessa Cook, Bank of America