Helping build strong communities

Strengthening the communities we serve is fundamental to our approach of responsible growth. Through lending and investing and partnerships across sectors, we are working to advance long-term sustainability that benefits us all. We’re focused on advancing economic mobility and helping communities thrive.

Advancing economic mobility

Individuals and families

Economic mobility focused on the needs of individuals and families by investing in workforce development & education and addressing basic needs.

Today, more than 48 million people are living in poverty - struggling to meet their needs while facing tough choices on where to place limited resources. We recognize that basic needs must be met in order for low and moderate income individuals and families to advance along the economic continuum. In addition, access to education and job training are critical to lift people out of poverty, advancing income mobility by connecting individuals to tools that will help them build better lives. That’s why we’re partnering with nonprofits who are helping people at their point of need, advancing better money habits, supporting a diverse talent pipeline that will better serve communities, and providing skilled workers to organizations while creating economic opportunity. We partner with nonprofits who are advancing economic mobility, from addressing basic needs (food and shelter) to job skills training, all of which contributes to alleviating poverty and building thriving communities.

Funding priorities and examples

 
  • Critical needs, such as hunger relief and services for the homeless – We support nonprofit organizations that meet individuals and families at their point of need so that they can overcome fundamental challenges, achieve stability, and improve their financial lives.
  • Youth employment – We recognize that first time jobs are critical to helping young people develop essential skills that will assist them throughout their career development. Access to employment can enhance overall educational experiences and keep at-risk youth on track for successful careers by reducing high school dropout rates and increasing transition to college.
  • Preparing individuals for meaningful employment – We support nonprofit organizations providing access to skills training, credentialing and education - regardless of gender, race, criminal record or disability - that will enable individuals to connect to jobs and develop a stronger financial future.
  • Wrap Around Services – We recognize that low-income individuals and families face a variety of challenges, have diverse needs and may qualify for multiple services, so we support nonprofit organizations providing supportive services that will enable individuals and families to move forward. 
See it in action

The unspoken variables of success: grace and mercy

Lack of economic mobility - especially for young people of color impacted by disproportionate unemployment and incarceration rates - is a defining social justice issue of our time. Through innovative partnerships and programs such as the HOPE Commission, we have a chance to build stronger communities, stronger economies, and a brighter future, one defined by grace and mercy. More More.

Year Up

Year up

We are committed to creating the workforce of tomorrow by expanding workforce training and development. Our partnership with Year Up provides young adults ages 18 to 24 with a combination of technical and professional skills, college credits, educational stipends and corporate internships. More More.

girl eating

Fighting hunger through nearly $30 million in philanthropy

Bank of America’s focus on hunger dates back to 2009, when the economic downturn increased the number of people whose critical needs were not being met. Since then, the company has contributed nearly $30 million to a range of nonprofits to address these issues. More More.

Laying the foundation for a purpose-driven generation

It's easy to reflect on the past decade and recognize the advances we've made as a society—from reducing the national unemployment rate to making inroads on the fight against HIV/AIDS globally. But our work is far from complete. With nearly 50 million people at risk of food insecurity, and unemployment disproportionately impacting youth and communities of color, there is still much to be done to overcome underlying challenges perpetuating poverty and inequality in our communities. More More.

Bank of America Announces $40 Million Commitment to Support Youth Success

Bank of America today announced a $40 million commitment to connect 100,000 teens and young adults to the skills and employment experiences needed for 21st-century jobs. Over the next three years, in partnership with nonprofit organizations across the country, the bank will fund early employment, education and job training and support diverse talent to help build a pipeline that will strengthen and enhance today’s workforce. More More.

Community Development

Economic mobility by addressing community development needs through investments in affordable housing, community revitalization, arts, and the environment. A focus on development efforts creating vibrant communities of choice and economic opportunity for all.

An individual’s zip code should not define their economic well-being, educational attainment and overall health. However for many across our country this remains a significant challenge as they pursue their financial, educational and employment goals. Economic opportunity begins with the ability to live and work in vibrant communities, with access to safe, decent housing, strong business corridors, access to arts and culture. So our funding efforts focus on the work of local, national and global nonprofit organizations working together addressing these issues essential to an individual’s economic mobility and the community’s vitality.

Building Vibrant Communities

Supporting local and regional revitalization efforts taking a holistic approach to building thriving communities, create economic opportunity and livable neighborhoods. This includes support of economic drivers such as arts and cultural institutions that contribute to the overall vitality of the community.

Expanding Access to Housing Opportunities

Supporting the efforts and programs of nonprofit organizations creating pathways to economic mobility as they work to preserve, and increase access to a mix of affordable housing options, connect individuals and families with tools, resources, to achieve their financial goals.

See it in action
people shaking hands

Partnering with the USDA to promote rural development and local economic growth

Fueling the economy isn't just reserved for large urban neighborhoods or suburban towns. In rural areas, making more loans available can help address important economic and social issues. More More.

Improving access to affordable housing

In line with Bank of America’s promise to help create sustainable home ownership, 16 nonprofits in Denver recently received $750,000 in grants. Urban Land Conservancy is one of the nonprofits receiving a grant. The money will go towards the creation and preservation of transit-oriented affordable housing developments in metro Denver. Aaron Miripol, president and CEO of Urban Land Conservancy, called the project a “catalyst for significant community improvement.” More More.

A comunity Connects in the Chelsea Box District

The Neighborhood Developers and Bank of America are building affordable housing and creating a sense of comunity in Chelsea, Massachusetts. More More.

Partnering with Habitat for Humanity to build thriving communities

2016 marked the 30th year of Bank of America’s long-standing partnership with Habitat for Humanity in our shared goal to connect working families to affordable housing in order to build thriving communities. The partnership is multi-faceted, including more than $75 million in philanthropic funding for Habitat for Humanity’s work around the world, with more than $55 million in cash and property donations to Habitat for Humanity International, as well as robust volunteer efforts in local markets and regions. More More.

Advancing small business growth through partnership

In 2015, Initiative for a Competitive Inner City (ICIC) celebrated the 10-year anniversary of the Inner City Capital Connection program, which was launched through our lead support. We’ve partnered with ICIC to support the Inner City Capital Connections (ICCC) program, which identifies small businesses in economically distressed communities and helps them build capacity and gain access to the capital they need to thrive in today’s competitive economy. More More.

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Supporting Businesses

Supporting Businesses 

To help fuel the economy, we work hard to help businesses create or retain jobs through traditional and low-cost lending programs.