Bank of America Awards More Than $1.2 Million to Atlanta Nonprofits

Rhea-AI Summary

Bank of America announced over $1.2 million in grants to 53 organizations in Atlanta, focusing on workforce development, education, and basic needs for vulnerable communities. The initiative aims to enhance economic opportunities as Atlanta's unemployment rate stands at 2.9%, below the national average of 3.6%. This philanthropic effort is part of the bank's strategy to support local nonprofits and drive social progress in the region. Notable recipients include the Georgia Justice Project, helping individuals impacted by the criminal justice system.

Positive

• Grant allocation of over $1.2 million to 53 local nonprofits.
• Focus on workforce development and education improves economic opportunities.
• Support for organizations like Georgia Justice Project enhances community reintegration efforts.

Negative

• None.

Grants to 53 organizations across region focus on basic needs, workforce development, and education in disadvantaged and vulnerable communities

ATLANTA, Aug. 18, 2022 /PRNewswire/ -- Bank of America announced more than $1.2 million in grants to 53 Atlanta nonprofits to help drive economic opportunity for individuals and families. Grants focus on workforce development and education to help individuals chart a path to employment and better economic futures, as well as basic needs fundamental to building life-long stability.

While Atlanta's economy is recovering from the height of the COVID-19 pandemic, and Georgia's unemployment rate (2.9%) is better than the national average (3.6%), the state has also added more jobs. According to the Georgia Department of Labor, the state's jobs are at all-time high.

Employment is a key driver of economic mobility in Atlanta. That's why the bank is focused on building pathways to employment by supporting a range of workforce development and educational opportunities that will help vulnerable individuals and families stabilize and advance.

"Investing in partnerships with nonprofit organizations addressing issues like workforce development, food insecurity and affordable housing is part of our approach to driving economic opportunity and social progress in Atlanta," said Al McRae, president, Bank of America Atlanta. "This recent philanthropic investment in Atlanta nonprofits is just one way Bank of America deploys capital locally to help remove barriers to economic success and build a more sustainable community."

One Bank of America grant recipient is Georgia Justice Project (GJP). For 15 years, GJP has helped individuals clean up their criminal history to remove barriers to employment, housing and education. With this support from Bank of America, GJP will be able to help people leaving the criminal justice system become empowered members of our community.

"One mistake should not mean a lifetime without opportunity," said Georgia Justice Project's Executive Director, Doug Ammar. "This support from Bank of America will help Georgia Justice Project expand its commitment to Georgians who have been impacted by the criminal legal system and help marginalized people get a second chance. Our gratitude to Bank of America for furthering our mission to reduce crime and recidivism in our communities by empowering individuals to make positive changes in their lives."

The full list of organizations receiving grants are:

• Asian American Resource Foundation
• Atlanta Business League
• Atlanta Center for Self Sufficiency
• Atlanta Police Foundation
• Atlanta Victim Assistance
• Atlanta Volunteer Lawyers Foundation
• Back on My Feet
• Bigger Vision of Athens
• Catholic Charities of the Archdiocese Atlanta
• CHRIS 180
• City of Refuge
• Clark Atlanta University
• Communities in Schools of Atlanta
• Cristo Rey Atlanta Jesuit High School
• Dalton State College Foundation
• East Lake Foundation
• Families First
• Family Promise of Hall County
• Food Bank of Northeast Georgia
• Genesis Joy House Homeless Shelter
• Georgia Justice Project
• Georgia Mountain Food Bank
• Grady Health System
• Grove Park Foundation
• Jonathan's House Ministries
• Junior Achievement of Georgia
• La Amistad
• Latin American Association
• Local Initiatives Support Corporation
• Meals on Wheels Atlanta
• Must Ministries
• Nana Grants
• Open Hand Atlanta
• Partnership Against Domestic Violence
• Per Scholas
• Saint Joseph's Mercy Care Services
• Shelters to Shutters
• Strive International
• Teach for America
• The Posse Foundation
• The Summit Counseling Center
• The Urban League of Greater Atlanta
• Trees Atlanta
• United Negro College Fund
• United Way of Greater Atlanta
• University of Georgia Research Foundation
• Urban League of Greater Columbus
• Urban Health and Wellness
• Women in Technology
• Women Moving On
• Year Up
• Young Men's Christian Association of Athens, GA
  - Young Women's Christian Organization of Athens, GA

Since 2017, Bank of America's nearly 5,000 Atlanta teammates have contributed over 255,000 volunteer hours and $30 million in grant support to organizations in metro Atlanta. These investments are part of the company's commitment to responsible growth to improve the financial lives of individuals, families, and communities across the state.

Learn more about Bank of America's Philanthropic Strategy

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Reporters may contact:

Matthew Daily, Bank of America   
Phone: 1.404.607.2844
matthew.daily@bofa.com

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SOURCE Bank of America Corporation

FAQ

What is the total amount Bank of America granted to Atlanta nonprofits in 2022?

Bank of America granted over $1.2 million to Atlanta nonprofits in 2022.

How many organizations received grants from Bank of America in Atlanta?

A total of 53 organizations received grants from Bank of America in Atlanta.

What focus areas are highlighted in Bank of America's grants to Atlanta?

The grants focus on workforce development, education, and basic needs.

What is the unemployment rate in Georgia as reported in the press release?

Georgia's unemployment rate is reported at 2.9%, which is lower than the national average of 3.6%.

Who is the president of Bank of America Atlanta mentioned in the press release?

The president of Bank of America Atlanta mentioned is Al McRae.

Which organization is a notable grant recipient aiding reintegration efforts?

The Georgia Justice Project is a notable grant recipient focused on aiding reintegration.