Bank of America announced more than $825,000 in grants to 29 San Diego nonprofits to help drive economic opportunity for individuals and families. These grants are the initial round of dollars directed to local nonprofits this year, with more to come throughout the year. Last year alone, Bank of America awarded $1.8 million in grants to local nonprofits and employees volunteered 8,600 hours to local causes in San Diego to help build thriving communities.
This first round of grants from the bank 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. Specifically, these local grants include support for job reskilling, food insecurity, affordable housing/shelter, youth education and employment, healthcare and domestic violence. “Investing in nonprofits addressing issues like job reskilling, food insecurity, affordable housing/shelter, youth employment and family services is part of our approach to driving economic opportunity and social progress in San Diego,” said Rick Bregman, President, Bank of America San Diego. “This recent philanthropic investment in San Diego nonprofits is just one way Bank of America deploys capital locally to help remove barriers to economic success and build a more sustainable community.”
According to the San Diego Regional EDC, the majority of households in the San Diego region are not thriving, meaning their incomes do not meet the expected costs of living in San Diego. In fact, half of all San Diego homeowners don’t earn enough to cover their cost of living, while nearly 60% of renters fall short each year. Even before the COVID-10 pandemic, most households did not earn enough to meet the region’s expected cost of living.
Grantees include the San Diego Foundation to fund the Black Community Investment Fund (BCIF). “Our partnership with Bank of America, which shares our commitment to the community, helps build generational wealth for Black San Diegans by providing equitable access to opportunities,” said Pamela Gray Payton, Vice President, Chief Impact and Partnerships Officer for San Diego Foundation. “These are important steps for San Diego.”
Funds provided to BCIF will benefit the San Diego Workforce Partnership, which will provide paid job training and career opportunities in technology and healthcare. “Providing opportunities in technology and healthcare jobs for Black San Diegans is important for increasing racial equity in a city that is a tech and healthcare hub,” said Peter Callstrom, CEO of San Diego Workforce Partnership.
Other local grantees include the Local nonprofit Kitchens for Good (KFG) works to break the cycle of food waste, poverty and hunger through a combination of workforce training, healthy food production and social enterprise. It offers a tuition-free culinary apprenticeship with paid hours of training designed for people transitioning from incarceration, homelessness, and foster care, while helping economically disadvantaged communities overcome food insecurity. With this new funding from Bank of America, KFG will be able to launch a new apprentice program in conjunction with an in-house staffing agency to oversee employment with partnering restaurants and commercial kitchens, ultimately to create long-term success for apprentices. “The apprentice program and staffing agency will help ensure KFG apprentices are compensated fairly as their skills grow, and help them establish a work history,” said Jennifer Gilmore, Chief Executive Officer of Kitchens for Good. “We’re helping set a disadvantaged population up for long-term success.”
Additional background about Bank of America’s Charitable Foundation giving can be found here.