Bank of America today announced it will provide more than $1.5 million in grants to 28 nonprofit organizations in New Jersey to advance economic opportunity for individuals and families. These grants focus on workforce development and education, helping individuals chart a path to employment and a better economic future, as well as ensuring lifelong security, such as access to food. It also helps with the basic needs to build a .
New Jersey’s economy is recovering from the height of the COVID-19 pandemic, but the state still lags behind the country in terms of jobs and job creation. According to the U.S. Bureau of Labor Statistics, New Jersey’s unemployment rate is 4.1%, compared with her national average of 3.6%.
Employment is a key driver of economic mobility in New Jersey. As such, the Bank focuses on building pathways to employment by supporting a range of workforce development and educational opportunities that support the stability and progress of vulnerable individuals and families.
Alberto Garofalo, President of Bank of America New Jersey, said: “A philanthropic investment in these organizations will help deploy capital where it has the most impact and where it can build sustainable communities.”
One of Bank of America’s grant recipients is Newark-based La Casa de Don Pedro. Founded in 1972, La Casa de Don Pedro’s values have been driven by its mission to promote self-sufficiency, empowerment and neighborhood revitalization. With this support from Bank of America, La Casa de Don Pedro will address the underlying issues and root causes that hinder the economic mobility of Greater Newark’s minority communities, especially Hispanic women. Address the cause.
Peter Rosario, President and CEO of La Casa de Don Pedro, said: “This support will give us the tools we need to support programs that improve the quality of life for Newark residents.”
Bank of America has provided $30 million to New Jersey organizations since 2017. These grants are part of the company’s commitment to responsible growth that works to improve the economic lives of individuals, families and communities across the state. His 11,000 New Jersey teammates at the company have contributed more than 350,000 volunteer hours since 2017.
In addition to local grants, Bank of America last year announced an expanded five-year commitment of $1.25 billion to help advance racial equality and economic opportunity across the country. Accelerating efforts already underway, the effort will support investments that create opportunities for people and communities of color in the areas of health and healthcare, employment and reskilling, supporting small businesses, and affordable housing. To do.
Here is the full list of organizations receiving grants:
- America’s Glow-A-Law
- NJ’s Community Food Bank
- CUMAC echo
- Elijah’s Promise
- Eva Village
- home front
- La Casa de Don Pedro
- norwegian cap
- Oasis – a paradise for women and children
- Parker Family Health Center
- Paterson Task Force Community Action
- St Paul’s Community Development Corporation
- table to table
- Trenton Area Soup Kitchen
- United Way of Bergen County
- York Street Project
- Veteran of Fairleigh Dickinson University Launches Venture
- Greater Newark Conservancy
- interfaith neighbors
- new jersey junior achievement
- new city kids
- Father Center
- Trinitas Foundation
- we make
- women rising
at Bank of America (NYSE:BAC), we are guided by our common purpose to improve financial lives through the power of every connection. We do this through responsible growth with a strong focus on environmental, social and governance (ESG) leadership. ESG is embedded in our eight business units and how we drive the global economy, build trust and confidence, and represent the companies people want to work for, invest in and do business with. It reflects. It’s demonstrated in the inclusive and supportive workplaces we create for our employees, the responsible products and services we offer our clients, and the impact we have around the world to help local economies thrive. An important part of this effort is forming strong partnerships with non-profit and advocacy groups, including community, consumer and environmental groups, to bring together our collective networks and expertise for greater impact. to achieve. For more information, please visit about.bankofamerica.com. Also, Twitter (@BofA_News).
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Annemarie Macdonald, Bank of America