Bank of America has contributed nearly $4 million this year to support economic mobility and racial equality that strengthens the local economy in North Texas, the bank said.
The North Carolina-based bank has a strong presence in the region with more than 130 financial centers and supports nonprofits working to increase access to jobs and affordable housing, as well as address food insecurity in North Texas.
Jennifer Chandler, president of Bank of America Dallas, says North Texas continues to attract businesses and residents, adding economic opportunities.
“Yet with this growth comes challenges, and we must ensure we are helping meet the critical needs of our communities while building a skilled workforce and local talent pool from which businesses can hire,” she said in a statement. “This is the key to mitigating the rising cost of living and stopping longtime residents from being left behind.”
Chandler says that’s why Bank of America has directed almost $4 million to the local community this year, focusing on nonprofits that are advancing equity and economic opportunity, as well as assisting small businesses and addressing food insecurity.
“We look forward to identifying continued opportunities to support the region in 2023,” she added.
The bank’s support goes beyond financial: Bank of America said its employees in North Texas spent roughly 130,000 hours volunteering in 2022 and provided nearly 35,000 items to those in need, including holiday cards, backpacks, food cans, handwritten cards, and school supplies.
“Investing back in our community from a philanthropic standpoint is in Bank of America’s fabric—it’s what we do,” Bank of America Fort Worth President Mike Pavell said in a statement.
“We believe in empowering nonprofits that are serving as catalysts to help advance equity and create economic opportunity for all, and we are proud of the impact the bank and our employees had in the North Texas region this year through funding and volunteerism.”
The nonprofits include:
Bank of America donated $620,000 to the North Texas Food Bank and $100,000 to the Tarrant Area Food Bank in 2022. One of the fundraising efforts was designed to encourage Bank of America employees to get vaccinated against coronavirus and the flu. Earlier this year, the Bank of America announced it would make a $100 donation to local hunger relief organizations and food banks for each employee who received a coronavirus vaccine or booster. Building on the momentum, the bank launched a second similar campaign in the fall. As a result, North Texas employees raised $495,000 total for the food banks to support the increased needs during this important time of year.
Bank of America says residents of the Bonton neighborhood have been denied access to the seven human essentials that are necessary to survive and thrive: health and wellness, economic stability, safe and affordable housing, transportation, a sense of belonging, education, and access to fair credit. Bonton Farms is tackling all these barriers head on and changing the community within. Named a 2022 Bank of America Neighborhood Builder® awardee, Bonton Farms will receive $200,000 to build out a new program plus comprehensive leadership training for the executive director and an emerging leader.
The Ladder Alliance
The Ladder Alliance was also named a 2022 Bank of America Neighborhood Builder awardee, recognized for educating, encouraging, and empowering women personally and professionally, The organization will receive a $200,000 grant plus comprehensive leadership training for the executive director and an emerging leader. It plans to use the funds to increase the number of students served by 83% by offering more classes, including to students in underserved locations, reducing barriers to career readiness in the Metroplex. Many program participants speak primarily Spanish, and with the opportunity to learn from bilingual teachers, students will also expand their English vocabulary.
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