Program Provides $200,000 in Flexible Funding to Each Organization and Leadership
Development Training to Advance Economic Mobility in the Greater Sacramento Region
Programs and services that are addressing education, workforce development and job placement for teens and young adults with severe barriers to employment will expand with help of a multi-year grant from Bank of America. Los Rios Colleges Foundation, the parent organization of Folsom Lake College has been named one of the Bank of America Neighborhood Builders® awardees.
The Neighborhood Builders program continues to be the nation’s largest investment into nonprofit leadership development, with each organization receiving a $200,000 grant over two years, comprehensive leadership training for the executive director and an emerging leader on topics ranging from increasing financial sustainability, human capital management and strategic storytelling, joins a network of peer organizations across the U.S., and the opportunity to access capital.
“Nonprofits are the backbone of our communities, working on the ground to help those struggling to overcome barriers and help people get on the path toward economic stability,” said CP Parmar, president, Bank of America Greater Sacramento. “It’s important that we direct not only capital, but the necessary training to help position these nonprofits and their leadership for long-term success.”
In the past decade, state and federal legislation has expanded educational opportunities for Californians affected by the criminal legal system, yet much of this effort and research has focused on those currently incarcerated. To help those transitioning back into civilian life, Los Rios Community Colleges Foundation – which includes American River College, Consumnes River College, Folsom Lake College and Sacramento City College – is instead focusing on student reentry to the community before their release through their Prison and Reentry Education Program (PREP).
“With help from the Bank of America Neighborhood Builders program, our Prison and Reentry Education Program help more students in our region who are reentering our community and charting their paths to personal and financial stability,” said Paula Allison, Associate Vice Chancellor, Los Rios Community College District. “Research demonstrates the joy, strength, and knowledge formerly incarcerated students bring to their studies and share with their peers and communities, but students need more support. With this grant, we want to change the data and provide access to higher education and opportunity.”
There is a 430,000 shortage of construction workers nationwide and 40% of the U.S. construction workforce will be retiring in the next decade. Through its workforce development programs, the North State Building Industry Foundation is helping train at-risk teens and young adults for residential construction careers while addressing the labor shortage in the homebuilding industry. Last year alone, the Foundation referred close to 750 people to jobs in the construction industry. The organization will use its Bank of America Neighborhood Builders grant to expand services to more job seekers and outreach to the residential construction industry.
“Most participants have grown up in low-income areas without awareness of or knowledge about how to find the resources to help them,” said Jennifer Poff, Executive Director, North State Building Industry Foundation. “Our Out of School Youth training program helps participants gain those important life skills while gaining workforce training in thebuilding industry and related trades.”
The Bank of America Neighborhood Builders grant will allow the organization to expand their services to more job seekers and to expand outreach to potential candidates to benefit them and the residential construction industry.
In Greater Sacramento, 30 nonprofits have been selected as Neighborhood Builders since 2004, with the bank investing more than $5.4 million into these local organizations. The invitation-only program is highly competitive, and organizations are selected by a committee comprised of community leaders and past Neighborhood Builders honorees.
Neighborhood Builders is just one example of how Bank of America deploys capital in communities, builds cross-sector partnerships, and promotes socioeconomic progress as part of its approach to responsible growth.
Bank of America Environmental, Social and Governance
At Bank of America (NYSE: BAC), 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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