Bank of America today announced $795,000 in grants to 47 nonprofits across the entire Inland Empire that will help drive economic opportunity and upward mobility for individuals and families and put them on a path toward stability and success.
The local nonprofits receiving funding primarily provide workforce development services building pathways to employment, including providing education and resources to rebuild careers that may have been impacted by the pandemic. Additional programs funded by these grants support basic needs such as hunger relief, healthcare and emergency shelter, resources also critical throughout the pandemic.
The funds arrive as the Inland Empire rebounds from the pandemic. According to economists from the Inland Empire Economic Partnership, the region has recovered less than 70 percent of the jobs lost from the spring of 2020 and they predict it will take several more months to get close to pre-pandemic employment levels.
“The strategic investment into immediate short-term and longer-term needs has been key in helping disadvantaged communities progress as society and the economy begin to safely reopen,” said Bansree Parikh, president, Bank of America Inland Empire. “By investing in the Inland Empire’s incredible network of nonprofits, Bank of America provides philanthropic capital to help advance economic and social progress, enabling our region to succeed.”
Organizations receiving grants provide services in cities and communities that include Victorville, Riverside and San Bernardino, Chino, Montclair and Ontario, and the entire Coachella Valley. Many nonprofits are already putting the bank’s recent round of investments to work in communities hardest hit by the pandemic or to address pervasive economic inequities
For example, the Inland Empire Economic Partnership is increasing viable pathways to the middle class for those with less than a four-year degree by fully integrating economic and workforce development activities across the region with a focus on growing sectors that can create new jobs. The Partnership’s project is helping to create more jobs of at least 35 hours a week that pay at least $18.50 an hour with benefits. The Youth Action Project is preparing the next generation of workers by creating opportunities for youth and young adults to develop the skills, experience, and confidence needed to succeed in today’s competitive job market. Since its inception, hundreds of Inland Empire youth have overcome barriers to employment with the direct assistance and mentoring provided by the Youth Action Project.
Others receiving funding are included in the attached. Organization Legal Name
The grants in the Inland Empire build on more than $7 million Bank of America has invested in the region over the past five years as part of the company’s commitment to responsible growth and to improve the financial lives of individuals and families. Philanthropic and volunteer investments play a key role in this effort to build thriving communities.
Additional background about Bank of America’s Charitable Foundation giving can be found here.
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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