Bank of America Directs $340,000 into Memphis Nonprofits
Bank of America Directs $340,000 into Memphis Nonprofits to Put Economically Disadvantaged Populations on Path to Long-Term Financial Stability
MEMPHIS – Bank of America today announced more than $340,000 in support to 11 Memphis nonprofits that will help drive economic opportunity and upward mobility for individuals and families and put them on a path toward stability and success.
The local nonprofits receiving funding will help address two key factors in improving economic mobility: basic needs fundamental to building life-long stability, including access to food, shelter and health services, and access to educational and workforce development services building pathways to employment, including providing resources to rebuild careers that may have been impacted by the pandemic.
While the Memphis market is experiencing general economic recovery, recent studies show a long road ahead to regain jobs lost during the coronavirus shutdowns, according to The Memphis Business Journal.
“The strategic investment into immediate short-term and longer-term needs has been key in helping communities progress as society begins to safely reopen,” said Trevia Chatman, President of Bank of America Memphis. “By supporting Memphis’ incredible network of nonprofits, Bank of America provides philanthropic capital to help advance economic and social progress, enabling our community to succeed.”
One non-profit receiving funding is Christ Community Health Services, a community-based health organization. Christ Community provides comprehensive primary care, preventive care, and mental health/substance abuse services to persons of all ages within the Memphis Metropolitan area.
“We are excited about the partnership with Bank of America, as their support to the community, education, and our patients is invaluable,” said Shantelle Leatherwood, C.E.O of Christ Community Health Services. “Coming on as a partner during the pandemic helped us provide COVID-19 testing and the opportunity to vaccinate over 11,191 residents. As we move forward, their support of Christ Community Health Services’ School-Based Health Center at East High will allow us to be proactive and ensure that Shelby County student’s health insecurities are swiftly addressed.”
Other organizations receiving grants include:
Agape Child and Family Services
Binghampton Development Corporation
City Year, Inc.
City of Memphis Office of Youth Services
Memphis Athletic Ministries
Methodist Healthcare Foundation
The grants and additional funding in Memphis build on the $2.6 million in grants and matching gifts that Bank of America has provided to organizations addressing workforce development and basic needs since 2016. The work is part of the company’s commitment to responsible growth as it aims to improve the financial lives of individuals and families. Philanthropic and volunteer investments play a key role in this effort to build thriving communities.
Additional background about Bank of America’s Charitable Foundation giving can be found here.
Bank of America
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).
Check out The Carter Maione Group article here