Bank of America’s largest philanthropic initiative is reaching into new neighborhoods with programs dedicated to community building and leadership training.
The company gave another $22.1 million to its Neighborhood Builders and Champions
The 17-year-old Neighborhood Builders program provides flexible funding to nonprofits “so they can decide how best to use the dollars and move their organizations forward,”
This year’s pledge will go to 142 organizations that help support communities facing economic and social challenges. Over the years, Bank of America has helped fund more than 1,400 nonprofits, providing nearly 3,000 leaders with training and networking.
Karamu House, the oldest Black producing theater in the country, has received a $200,000 grant and leadership training through Neighborhood Builders. During the pandemic, when the Cleveland-based
“We were trying to figure out how to stay relevant,” Sias said in an interview. “Having a network of colleagues across the country was a helpful way to exchange ideas and get a better understanding of how an organization can pivot.”
Bank of America’s own executives take part in the program, talking with leaders in local markets to offer up advice on management, including marketing and communication strategies.
“We have specific skills and strengths” at the bank and can “leverage our dollars as well as internal knowledge,” Thorn said.
This year, Neighborhood Builders will award 100 organizations in major metro areas $200,000 in flexible funding as well as the leadership training. Neighborhood Champions, which was added in 2019 for nonprofits in smaller markets, will provide 42 organizations $50,000 in funding and virtual training.
Charlotte, North Carolina-based
“We needed the extra funding to expand the program,” founder and executive director Sil Ganzó said in an interview. “Now we can hire an extra person to take care of tasks and allow us to focus on other efforts.”
