U.S. Bank Foundation invests $1 million to support emerging leaders and community-led solutions to address economic disparities

Rhea-AI Summary

U.S. Bank Foundation has announced a $1 million investment in 20 nonprofit organizations led by emerging leaders focused on addressing economic disparities. These organizations operate in both rural and urban areas, emphasizing support for entrepreneurs, workforce development, and financial inclusion. Reba Dominski, executive vice president of social responsibility, highlighted the bank's commitment to empowering communities through funding and network-building initiatives. The partnerships aim to create sustainable solutions to wealth building and address racial and economic inequities.

Positive

• Investing $1 million in 20 nonprofit organizations targeting economic disparities.
• Focus on support for entrepreneurs, small business owners, and workforce development.
• Commitment to empowering communities and addressing racial and economic inequities.

Negative

• None.

U.S. Bank Foundation today announced a $1 million investment to 20 nonprofit organizations driven by a diverse group of exceptional emerging leaders who are focused on creating effective community-led solutions to the increasing economic disparities.

Organizations are in both rural and metro communities and are focused on support for entrepreneurs and small business owners, workforce development programs and financial inclusion efforts for individuals and families as solutions to wealth building.

“We are dedicated to empowering our communities by listening to those with lived experience and supporting their ideas on how to address racial and economic inequities and creating lasting change,” said Reba Dominski, executive vice president, head of social responsibility at U.S. Bank. “In addition to the funding, we are exploring ways to support these leaders and organizations by creating points of connection and access as well as opportunities to build their networks. We look forward to learning from these leaders as we continue to work to break down traditional power dynamics in philanthropy.”

The emerging leaders recognized through nonprofit grant funding are:

1. Joy Briscoe, Executive Director of 24/7 Black Leadership Advancement Consortium (Waterloo, Iowa), is advancing generational wealth for the black business community.
2. Erica DiMartino-McNertney, Site Director of Center for Employment Opportunities (CEO) in Cincinnati (based in New York), supports justice-involved individuals in building career and financial stability.
3. Jeffery Beckham Jr., CEO of Chicago Scholars (Chicago, Illinois), is empowering first-generation college students and students from low-income communities with the right mentors, resources, and opportunities to go to our nation's best colleges and universities, graduate on time, and become Chicago's next generation of leaders.
4. Luisana Victorica, Site Director of College Track (Sacramento, California), is more than doubling the rate of bachelor’s degrees for low-income and first-generation students.
5. Lori Boegershausen, Director of Educational Access for the Foundation for Appalachian Ohio (Nelsonville, Ohio), is strengthening community resources to meet the needs of Black Appalachian Ohioans.
6. Arnella Williams-Foster, Community Coordinator of Nashville Business Incubation Center (Nashville, Tennessee), supports the development and growth of minority, women, and veteran-owned small businesses.
7. Buddy King, Chief Operating Officer of Higher Works Collaborative partners with Initiative Foundation (Little Falls, Minnesota), to support training courses, seminars, and technical assistance for low-income and minority entrepreneurs.
8. Whitney Peake, Board Member of Live the Dream Development, Inc. (Bowling Green, Kentucky), supports minority, women, and low-to-moderate-income small business owners.
9. Anamaria Rocha, Executive Director of Mercado on 5^th Inc. (Moline, Illinois), provides office space, bilingual small business workshops, 1-on-1 technical assistance and mentorship.
10. Henry Jake Foreman, Program Director of New Mexico Community Capital (Albuquerque, New Mexico), provides business training that integrates Indigenous methodology.
11. Annamarie Dachtler, Executive Director of Olive Crest (Los Angeles, California), fuels economic stability and independence through transitional housing for vulnerable youth emancipating from foster care.
12. Juan Navarro, Artist-in-Residence at Riverside Art Museum (Riverside, California), is rejuvenating store fronts to contribute to neighborhood vitality, safety and economic development.
13. Ryan Quigtar, Executive Director of the Renton Innovation Zone Partnership (Renton, Washington), supports career immersion events for students from Title 1 schools through the Skyway Resource Center.
14. Cesar Garcia, Executive Director of Southside Redevelopment Corporation, Canopy South (Omaha, Nebraska), is establishing a revolving loan fund to be utilized for workforce housing.
15. Dara Eskridge, Executive Director of Invest STL (St. Louis, Missouri), cultivates opportunities for wealth building among households and small businesses to support equitable neighborhood development.
16. Silvia Castro, Executive Director of Suazo Business Center (Salt Lake City, Utah), provides long-term support for low-to moderate-income entrepreneurs.
17. Charis Blackmon, Executive Director of West Side CLT (Charlotte, North Carolina), tackles economic mobility through permanently affordable homeownership.
18. Trina Fleming, Executive Director of Women Helping Women (Irvine, California), equips individuals with employer-in-demand skills.
19. Keena Smith, Chief Executive Officer of Women’s Center of Economic Opportunity (Columbus, Ohio), provides women of color entrepreneurs equitable access to capital, connections and business know-how.
20. Amalia Luxardo, Executive Director of Women’s Foundation of Southern Arizona (Tucson, Arizona), provides oversight for the Communities for Philanthropic Justice Fund, which, in close partnership with community, cultivates and builds BIPOC leadership and relevant practices within grantmaking institutions.

About U.S. Bank

U.S. Bancorp, with nearly 70,000 employees and $559 billion in assets as of June 30, 2021, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2021 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

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FAQ

What recent investment has U.S. Bank announced?

U.S. Bank Foundation announced a $1 million investment in 20 nonprofit organizations.

What is the purpose of U.S. Bank's $1 million investment?

The investment aims to address economic disparities and support community-led solutions.

Which communities are receiving support from U.S. Bank's investment?

Both rural and metro communities are receiving support through this investment.

Who is leading the nonprofit organizations funded by U.S. Bank?

The organizations are led by a diverse group of emerging leaders focused on community development.

What areas are focused on by the supported nonprofit organizations?

The nonprofits focus on entrepreneurship, workforce development, and financial inclusion.