Bank of America Charitable Foundation: Economic Mobility Focused On Needs of Individuals and Families

The Bank of American Charitable Foundation (the Foundation) develops strong partnerships with nonprofit organizations addressing issues fundamental to economic mobility and social progress in low- and moderate-income communities. The Foundation’s program – Economic Mobility Focused On the Needs of Individuals and Families – supports the following funding areas:

Basic Needs—Coronavirus has had a significant impact on all populations and a disproportionate impact on vulnerable populations who have experienced increased unemployment and higher levels of infection. The Foundation seeks organizations addressing the economic and social conditions that affect an individual’s health, access to community-based health services, crisis-prevention tied to family stabilization programs, and other poverty related issues. Examples include:

• Access to healthcare and food – services that improve health outcomes with an emphasis on hunger relief and access to nutritious food, community-based healthcare, mental health counseling and substance use disorder treatment and rehabilitation.
• Family stabilization – access to crisis prevention programs and wrap services including help with immediate and safe shelter, free or subsidized benefits like internet access, utilities, childcare, transportation, financial assistance and recovery.
• Services for the homeless – programs that prevent or end homelessness, such as emergency shelter, rapid-rehousing, rental and utility assistance and permanent supportive housing.

Workforce Development & Education—Employment is a key driver of economic mobility. The Foundation seeks to build pathways to employment by supporting a range of workforce development opportunities, including education, upskilling and reskilling programs. Examples include:

• Youth employment – high-school completion programs, skills-training (hard and soft skills), first-time employment, internship, apprenticeship, and mentoring.
• Alternative pathways for adults – job preparedness, training, skills-building, college or vocational certification, career counseling, ESL education and training, entrepreneurship opportunities, and job placement and retention.
• Barriers to employment – organizations that help individuals overcome barriers to employment (individuals with disabilities, the formerly incarcerated, foster care youth, individuals living in extreme poverty) through training, support services, and housing.
• National service – national service opportunities for people to make a positive impact on their communities while developing marketable skills for employment.

Amount: While there are local variations, grants made in larger markets can range from $5,000 to $50,000. Grant amounts in smaller markets can range from $2,500 to $25,000.

Eligibility: Applicants must be:

• Tax-exempt under section 501(c)(3) of the Internal Revenue Code and not classified as a private foundation
• Based and serve communities in specific markets, including the State of New Mexico.
• Should be aligned with the Foundation’s funding priorities of community development, education and workforce development, and critical needs.
  Individual pre-K-12 schools (public or private) are not eligible.

Link: https://about.bankofamerica.com/en/making-an-impact/charitable-foundation-funding#fbid=kqZjnAgnAP1

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