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

Deadline: February 22, 2019

The Bank of America Foundation works to create thriving economies and a better future. The Economic Mobility Focused on the Needs of Individuals and Families program area invests in workforce development and education and addressing basic needs. Funding priorities and examples are detailed below:

1. Basic needs: The Foundation supports 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. Programs supported include:

  • Hunger relief: Local food banks, soup kitchens, school- and after-school-based child feeding and nutrition programs that provide free or subsidized food
  • Services for the homeless: Programs and services that prevent or end homelessness, such as rental assistance, emergency shelter, rapid-rehousing, and permanent supportive housing, including Housing First
  • Family stability: Programs that provide support and access to critical needs for the most vulnerable, such as clothing, affordable childcare, community health counseling and prevention services, and subsidized transportation

2. Wrap around services: The Foundation recognizes that individuals and families face a variety of challenges, have diverse needs, and may qualify for multiple services. It supports organizations, networks, and collaboratives that provide services and programs that enable individuals and families to move forward. Programs supported include:

  • Broad array of services addressing employment, asset building, financial coaching, and education (directly delivered or in collaboration with other providers)
  • Benefits access and referral programs
  • Financial education and coaching programs

3. Workforce development: The Foundation seeks to connect the most vulnerable individuals to the training and support they need to obtain a meaningful job and set them on a path to improve their financial lives and create a better future. It focuses on the following three strategies to connect people to the workforce:

  • Youth employment: High school completion programs, skills-training (hard and soft skills), first-time employment, internship, apprenticeship, and mentoring
  • Alternative employment pathways: Job preparedness, training, skill building, college or vocational certification, career counseling, placement, job retention, and entrepreneurship leading to livable wage jobs
  • Helping people rebuild their lives and careers: Workforce social enterprises and other transitional workforce reentry and second chance employment programs

Amount: Average award amounts typically range from $5,000 to $25,000.

Eligibility: Nonprofit organizations located in areas of Bank of America company operations.

Link: http://about.bankofamerica.com/en-us/global-impact/charitable-foundation-funding.html

Note: The application cycle opens on January 28, 2019.

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