Bank of America today announced more than $ 1.3 million in grants to 48 Phoenix nonprofits that will help promote economic opportunity and advancement for individuals and families, and guide them on a path to stability and success bring to. The local nonprofits receiving funding will help address two key factors in improving economic mobility: basic needs, which are essential to building lifelong stability, including access to food, shelter and health services, and access to education and security Human resource development services to create pathways to employment, including providing resources to rebuild careers that may have been affected by the pandemic. As the Phoenix area experiences an overall economic recovery, according to George W. Hammond, a university of Arizona, there is a long way to go to reclaim jobs lost during the coronavirus closings, maintain protection for renters and individuals in new careers retrain economist. ALSO READ: Arizona Ranking: Top 10 Banks for 2021 “Strategically investing in immediate short- and longer-term needs has been key to ensuring everyone in our community can make progress as society begins to reopen safely” said Benito Almanza, President, Bank of America Phoenix. “By investing in Phoenix’s incredible network of nonprofits, Bank of America is providing philanthropic capital to drive economic and social progress and enable our community to thrive.” Bank of America’s announcement builds on an earlier grant from US $ 1 million to Arizona State University to advance human resource development efforts to support color students and build a pipeline that will empower and improve today’s workforce. These investments are part of the company’s commitment to responsible growth as it works to improve the financial lives of individuals and families, complimenting its broader focus on racial equality and economic opportunity. “The Be A Leader Foundation is incredibly proud to work side by side with Bank of America to help our students and families continue their education and create systemic change in their families and communities,” said Melissa Trujillo, president and CEO of the Be A Leader Foundation and one of the youngest scholarship holders. “The pandemic has dramatically highlighted the impact a student’s socio-economic status can have on educational outcomes. Improving equal access to higher education is therefore one of our greatest levers to increase social mobility and healthy communities. This investment in our programs will enable them to realize educational dreams that will help sustain their families and the healthy, vibrant Phoenix community we all hope for. ”In addition to Be A Leader, fellow fellows include St. Joseph the Worker, Chicano Por La Causa Inc, and the Live and Learn Program, organizations that ensure underserved communities continue to have access to jobs and education. “The Bank of America investment helps us keep working to provide quality jobs to Valley job seekers,” said Brent Downs, executive director of St. Joseph the Worker. “During the pandemic, we were able to connect individuals and families with resources and employment opportunities that lead to stability and economic self-sufficiency. We appreciate the continued support to empower hardworking people in our community. ”For more background information on the Bank of America Charity Foundation’s donations, please click here.
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