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COMMUNITY

Bank of America boosts Phoenix-area nonprofits with $1.5 million ‘investment’

Posted 7/13/22

Bank of America is providing $1.5 million in grants to 41 Valley nonprofits.

“Investing in partnerships with nonprofit organizations addressing issues like education, workforce development …

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COMMUNITY

Bank of America boosts Phoenix-area nonprofits with $1.5 million ‘investment’

Posted

Bank of America is providing $1.5 million in grants to 41 Valley nonprofits.

“Investing in partnerships with nonprofit organizations addressing issues like education, workforce development and critical needs is part of our approach to driving economic opportunity and social progress in Phoenix,” said Benito Almanza, president of Bank of America Arizona.

“Our recent philanthropic investment in Phoenix nonprofits is just one way Bank of America deploys capital locally to help remove barriers to economic success and build a more sustainable community.”

In the Valley of the Sun, bank officials said, employment is one of the key economic drivers and employers are increasingly reliant on a technically skilled workforce, as evidenced by the major growth in semi-conductor manufacturing and the rising presence of tech companies and electric vehicle and battery manufacturers.

“University-level education is one essential pipeline, as well as skilled tradesmen, which are needed more than ever to help drive business growth,” a BofA release stated.

"That's why Bank of America is focused on building pathways to employment by supporting a range of workforce development and educational solutions that will help create greater economic mobility through opportunity and access, including those with barriers to employment.”

The organizations supported by the grants “are creating transformational change by delivering resources to individuals and families and adapting their services to meet the needs of the Valley’s changing economy,” according to the release.

For example, the Center for the Future of Arizona “is working to bring world-class education to help construct a dynamic economy,” officials said, adding the organization will use its grant to support the Arizona Pathways to Prosperity program.

“APTP brings educators and employers together to build pathways that fill a need for employers and prepare students for success in family-supporting careers.”

Other organizations receiving grants include:

Workforce Development/Education: Arizona Council of Economic Education, Arizona Friends of Foster Children Foundation, Arizona Latino Leaders in Education, Arouet Foundation, Arizona State University Lodestar Center, Be A Leader Foundation, Boys and Girls Clubs of Scottsdale, Boys and Girls Clubs of the Valley, Center for the Future of Arizona, Dress for Success, Foundation for Blind Children, Homeward Bound, ICAN, Junior Achievement, New Pathways for Youth, one•n•ten, Southwest Autism Research & Resource Center, Teach for America, St. Joseph the Worker and Year Up Arizona

Critical Needs: A New Leaf, Arizona Housing Inc., Aunt Rita’s Foundation, Back to School Clothing Drive, Benevilla, Central Arizona Shelter Services, Chicanos Por La Causa, Child Crisis Arizona, Circle the City, Desert Mission, Esperança, Homeless ID Project, Homeless Youth Connection, Human Services Campus, Native American Connections, Nourish PHX, Paz de Cristo Community Center, St. Vincent de Paul, Sojourner Center, UMOM New Day Centers and Valle del Sol

These grants build on the more than $15 million Bank of America provided to organizations in Phoenix since 2017, including a recent $1.5 million to Arizona State University and Maricopa County community colleges, according to bank officials.