Bank of America: Making Financial Lives Better

June 19, 2024 11:12 am

Bank of America is guided by a common purpose – to make financial lives better. The company directs this purpose not just in its business model, but also through its philanthropy. The Bank of America Charitable Foundation builds strong partnerships with non-profit organizations focused on issues fundamental to economic mobility in low- to moderate-income communities.

Bank of America has been a dedicated partner of Interfaith Neighbors for almost a decade. In 2021, Bank of America made its first investment in Interfaith Neighbors’ (IFN) Launch Center with a grant of $30,000. Since that time, the company has continued to invest in the program with an additional $100,000 in Launch Center funding.

In 2022, IFN was invited to participate in Bank of America’s Neighborhood Builders program, which provides both funding for community development initiatives and leadership training. Since 2004, Bank of America has invested more than $300 million in 100 communities across the U.S., partnered with more than 1,600 nonprofits, and helped more than 3,000 nonprofit leaders strengthen their leadership skills.

Dwayne Redmond (l), Market Executive, Bank of America NJ and Chip Craig (r), Co-Executive Director, Interfaith Neighbors

“Our Neighborhood Builders program allows us to back the leaders who are working in our communities. We provide the resources that empower them to continue and bolster what their organizations do to build up under[1]served neighborhoods and advance economic mobility,” said Dwayne Redmond, Market Executive, Bank of America New Jersey, pictured.

“This program is actually the largest investment into nonprofit leadership development in the U.S., it’s by invitation only, and I’ve had the pleasure of recognizing some truly incredible nonprofits like Interfaith Neighbors with this award. The program is the full package and includes flexible funding, a year of leadership training for the executive director and an emerging leader, a national network of peer organizations and the opportunity to access capital,” Redmond continued.

Through the Neighborhood Builders Program, IFN was awarded an additional $200,000 in funding over a two-year period. Chip Craig, Co-Executive Director, and Kerwin Webb, Education Specialist, participated with other nonprofit leaders from across the United States in a series of leadership training sessions.

“Bank of America’s convening of non-profit organizations from across the country demonstrated that driving change around longstanding inequities requires caring people acting with urgency and purpose,” says Chip Craig.

IFN is grateful for Bank of America’s continued support of the Launch Center and its investment in local community revitalization efforts.


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