Bank of America Invests $978,000 in Austin Organizations Supporting Workforce Development, Community Initiatives and Basic Needs
Grants help individuals, families and businesses access food, emergency shelter, critical job training and education support and locate affordable housing
AUSTIN, Texas – This #GivingTuesday, a global day of helping those in need, Bank of America announced a total investment of $978,000 in the Austin community during 2016, with $664,000 given as grants to 39 local non-profits. This funding supports programs benefitting the arts, housing, hunger relief, small businesses and skills training and development, among numerous other causes – all of which are areas essential to building healthy communities and advancing long-term sustainable growth.
“At Bank of America, we recognize the importance of investing in Austin organizations, both financially and through volunteering time, for a healthier economy and better financial lives for individuals,” said Nikki Graham, Austin president, Bank of America. “Today is a day of coming together with our colleagues and the community. By supporting programs that offer resources and education paired with financial support, we’re arming our community leaders with the ability to grow their unique initiatives to better the Austin community.”
Of the $664,000 granted to local non-profits, $147,000 is divided among 11 organizations focused on workforce development and education, such as offering financial literacy and entrepreneurship education for Title I teens; $169,200 is divided among 13 non-profits dedicated to community development initiatives, including engaging residents in dialogues about local issues and how to make a difference; and $148,500 is divided among 14 organizations that provide basic needs, such as serving food, clothing, hygiene products and more to the local homeless population. PeopleFund received the remaining $200,000 in unrestricted funding as part of the bank’s 12-year-old Neighborhood Builders® program in which nonprofits are selected by a panel of citizens and community leaders. Additional community funding went to initiatives such as educational scholarships, arts and culture initiatives, and foundations empowering women in business.
Some local organizations that are receiving funding include:
- Austin Habitat for Humanity, to help end the cycle of poverty housing through funding the 2016 Bank of America Habitat Build.
- PeopleFund, to support small business lending and education in Austin with funding to support Bloom Labs, a comprehensive co-working space that offers home-based businesses access to business advisors, workshops and trainings, mentors and high-end equipment.
- Foundation Communities, to expand affordable, attractive housing in Austin complete with on-site support services for thousands of families, veterans, seniors and individuals with disabilities.
- Con Mi Madre, to provide services to young Latinas and their mothers that increase preparedness, participation, and success in post-secondary education.
- Sustainable Food Center, to cultivate a healthy community by strengthening the local food system and promoting nutritious food through the Healthy Families Initiative.
“As a long-term partner, we are incredibly grateful for Bank of America’s contribution to PeopleFund,” said Amber Cooney, Director of Development, PeopleFund. “As a Neighborhood Builder, we are able to better serve small business owners, particularly women, and help make Austin an even greater city. Bank of America’s commitment to our city touches thousands directly and has a valuable impact on the financial lives of many more.”
In addition to contributing funds to local programs, Bank of America employees have served over 4,181 volunteer hours in the community this year through organizations such as Habitat for Humanity, March of Dimes and the Susan G. Komen Race for the Cure, among many others.
About Bank of America Environmental, Social and Governance
At Bank of America, our focus on Environmental, Social and Governance (ESG) factors is critical to fulfilling our purpose of helping make people’s financial lives better. Our commitment to growing our business responsibly is embedded in every aspect of our company. It is demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our customers, and the impact we help create around the world in helping local economies thrive. An important part of this work is forming strong partnerships across sectors – including community and environmental advocate groups, as well as non-profits – in order to bring together our collective networks and expertise to achieve greater impact. Learn more at www.bankofamerica.com/about and connect with us on Twitter at @BofA_News.