Photo courtesy of Bank of America of Bank of America volunteers getting ready to serve food to the homeless during an event May at the Long Beach Rescue Mission.
This month, Bank of America awarded nearly $2 million in economic mobility grants to 70 nonprofits working to increase basic needs, education and workforce development opportunities in greater Los Angeles. Locally, Boys & Girls Clubs of Long Beach, Long Beach Rescue Mission and the Aquarium of the Pacific were awarded grants.
The nonprofits receiving funding will help underserved people in the Los Angeles and Long Beach areas gain greater economic mobility by improving access to fundamental needs. Funding will also help nonprofits provide career readiness resources such as mentorship and skills training, as well as offer financial education to families, according to Bank of America.
“We recognize that addressing immediate basic needs as well as connecting people to long-term success through skill-building and jobs are critical to achieving greater economic mobility,” Raul A. Anaya, Los Angeles market president for Bank of America, said in a statement. “For example, partnering with nonprofits like JVS Los Angeles allows us to help people find economic stability through career readiness and new employment opportunities.”
The grants in Los Angeles County are a facet of the nearly $43 million in grants the Bank of America Charitable Foundation is providing across the nation in an effort to advance economic mobility. In 2016, Bank of America employees in Los Angeles collectively spent 46,000 hours volunteering with local organizations, and the bank awarded more than $6 million in grants to local Los Angeles nonprofits, according to the release.
“JVS Los Angeles is deeply grateful for the longtime partnership and support of Bank of America, one of the founding donors of our BankWork program which helps low-income Angelenos find entry level jobs in the banking industry,” Alan Levey, CEO, JVS Los Angeles said in a statement. “This generous grant will enable us to expand all of our career training programs and offer people the skills, resources and compassionate support they need to lift themselves out of poverty.”