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Economic Mobility focused on needs of community

Affordable Housing
The current environment has underscored the importance of safe, decent housing for an individual’s overall well-being, including health, educational success and future employment opportunities. Yet for many, access to affordable housing has become further out of reach while others struggle with the possibility of eviction, foreclosure and homelessness. That’s why we support the efforts of organizations working to preserve, and increase access to a mix of affordable housing options as well as other essential assistance.

Examples:

  • Housing development for vulnerable populations through the construction or preservation of affordable single, multi-family, transitional and supportive housing.
  • Minority homeownership programs
  • Pathways to stable housing or homeownership through financial habits and stability efforts such as homebuyer education, budgeting, savings, and credit counseling including eviction and foreclosure prevention.
  • Sustainable development efforts creating healthy living environments through energy efficiency upgrades, retrofits, solar and other green building efforts.

Small Business
Small Businesses play an important role in the overall health of our nation’s economy. In response to the challenges small business owners face in today’s environment, we’re supporting nonprofits assisting entrepreneurs especially minority and indigenous owned, as they address their short term needs and strengthen their overall recovery.

Examples:

  • Technical assistance supporting business planning (short and long term).
  • Operational capacity of CDFIs delivering essential growth capital to entrepreneurs.
  • Supporting organizations assisting minority-owned small businesses.
  • Creating business incubators and accelerators that provide mentorships, resources, and networks entrepreneurs need to launch, fund and grow their businesses.
  • Assisting economic development efforts that promote small business growth and healthy commercial corridors. (e.g. Mainstreet).

Neighborhood Revitalization
Vibrant communities are places where individuals can thrive and succeed and have the opportunity to live and work with safe, decent housing, transportation to jobs, strong business corridors and thriving arts and culture districts. We support local and regional revitalization efforts, taking a holistic approach to building inclusive communities, creating economic opportunity and livable neighborhoods.

Examples:

  • Revitalization, preservation, and stabilization initiatives that engage community stakeholders in building livable communities.
  • Transit-oriented development efforts that connect individuals to jobs, services, schools, and economic opportunity.
  • Community arts and cultural institutions that provide economic opportunity and contribute to the vitality and livability of communities.
  • Resiliency of communities supporting short and long term plans to prepare, withstand and recover from extreme weather events and the long-term impacts of climate change.
  • Environmental efforts through the preservation, creation or restoration of open space, parks and community gardens.
  • Supporting organizations/initiatives that bring energy efficiency and renewable energy advances to LMI/BIPOC communities.

Opportunity offered by:

Bank of America

Bank of America is helping build thriving communities by addressing issues fundamental to economic health and sustainability. It is advancing economic mobility by addressing issues related to workforce development and education,…
Opportunity type

Grant

Location(s) where available

United States (all)

Areas of focus

Affordable Living
Business/Economy
Education
Health
Poverty

Applications accepted starting:
May 30, 2022
Application deadline:
June 24, 2022
This is a recurring opportunity