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

Deadline: February 24, 2017

The Bank of America Foundation helps build thriving communities by addressing issues fundamental to economic health and sustainability. It advances economic mobility by addressing issues related to workforce development and education, community development, and basic needs. The Economic Mobility of Individuals and Families focus will promote the economic mobility of individuals and families by investing in workforce development and education and addressing basic needs. Funding priorities include:

Critical needs such as hunger relief and services for the homeless: 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:

  • Local food banks, soup kitchens, school- and after-school-based child feeding and nutrition programs that provide free or subsidized food, clothing, and other critical necessities
  • Programs and services that prevent or end homelessness, like rental assistance, emergency shelter, rapid-rehousing, and permanent supportive housing, including Housing First

Youth employment: The Foundation recognizes 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. Programs supported include:

  • High school completion programs, skills-training (hard and soft skills), seasonal employment, internship opportunities, mentoring for teens and young adults, and social enterprises
  • National service programs that develop essential career skills and establish a pathway to future employment endeavors

Preparing individuals for meaningful employment: The Foundation supports organizations that provide access to skills training and 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. Programs supported include:

  • Job preparedness, training, skills building, college or vocational certification, career counseling, placement, job retention, and entrepreneurship leading to livable wage jobs
  • Social enterprises, other transitional employment and workforce re-entry programs tied to job training and placement for the unemployed, under-employed, formerly incarcerated, homeless, and disconnected youth that put people on track for growth and meaningful employment

Wrap around services: The Foundation recognizes that low-income individuals and families face a variety of challenges and have diverse needs and may qualify for multiple services. It supports organizations that provide supportive services that enable individuals and families to move forward. Programs supported include:

  • Bundled services: Organizations that offer services and benefits, direct or in collaboration with other providers, that addresses employment, asset building, and financial coaching and education
  • Benefits access and referral programs
  • Networks, programs, and services that are working to break the cycle of poverty
  • Organizations advancing better money habits through financial education and coaching

Amount: Average award amounts 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

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