Bank of America gives nearly $ 4 million to nonprofits

Bank of America has announced $ 3.97 million in grants to 104 Los Angeles area nonprofits that will help nurture economic opportunity and advancement for individuals and families and guide them on a path to stability and success bring.

The local nonprofits receiving funding primarily provide human resource development services to help create pathways to employment, including providing education and resources to rebuild careers that may have been affected by the pandemic. Additional programs funded through these grants support basic needs such as hunger relief, health care and emergency shelter, resources that are also vital during the pandemic.

The first of two rounds of grants that the bank will be awarding in 2021 comes at a critical time as the region reopens and recovers. Recalling the fundamental need to develop more resilient, inclusive systems to cope with the disproportionate impact on people of color, women and people in education, including teachers

“Strategically investing in immediate short- and longer-term needs has been key to advancing disadvantaged communities as society and the economy safely reopen,” said Raul A. Anaya, president of Bank of America Los Angeles. “By investing in Los Angeles’ incredible network of nonprofits, Bank of America is providing philanthropic capital to drive economic and social progress and enable our region to thrive.”

Many nonprofits are already using the bank’s latest round of investment to work in the communities hardest hit by the pandemic or to address social injustice. Many recipient organizations provide professional skills in some of the poorest neighborhoods in Los Angeles, where the unemployment rate is up to 30 percent.

For example, JVS SoCal, which continues to see demand for its services due to the ongoing economic impact of COVID-19, is using its funds to provide vocational training for residents in low-income areas across Los Angeles County for healthcare jobs, back office medical support, housing management and in banking. More than 70 percent of JVS ‘customers are Latinos and blacks. The PF Bresee Foundation sees high unemployment and socio-economic isolation in Central Los Angeles and uses its funds to train and mentor youth from low-income families in soft skills such as resume writing, email etiquette, and emotional intelligence. The program usually secures jobs for young people after completing their training.
EXP, which has seen the pandemic leave many teens and young adults in Los Angeles behind and hopeless, aims to reach hundreds of underserved high school students across the county to improve graduation rates and prepare them for college or careers.

Santa Monica Scholarship recipients include:

Santa Monica Boys and Girls Club
The Venice Boys and Girls Club
The Chrysalis Center
House bound upwards
Westside Food Bank
Visit for more information.

Submitted by Stacy Schwartz, BCW California Grassroots Team

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