Press Release: Bank of America Makes $530,000 Investment with San Diego Nonprofits to Help Economically Disadvantaged Populations on the Path to Long-Term Financial Stability

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Grants to 36 local nonprofits will scale programs addressing the continuum of economic challenges from the basic needs contributing to homelessness to up-skilling under-employed for today’s workforce demands

San Diego, CA– Bank of America today announced $530,000 in grants to 36 San Diego nonprofits that will advance economic mobility for individuals and families and put them on a path toward success. The grants focus on basic needs fundamental to building lifelong stability as well as needs related to workforce development and education that help individuals chart a path to better economic futures.

Despite today’s strengthened economy, more than 8,000 San Diegans continue to live on the streets, according to the 2019 count by the San Diego Regional Task Force on the Homeless (RTFH), and 12 percent of San Diego’s population lives below the poverty line, according to the US Census Bureau.  This creates a tremendous strain on basic needs and wrap around services helping lift people out of poverty as, for example, 486,000 face food insecurity every day, according to the San Diego Hunger Coalition.

The grants being awarded by the bank support local nonprofits and programs providing supportive services ranging from food banks and emergency shelter to youth job training and alternative pathways to employment.

“So many of us are just one life event away from needing to depend on basic needs services such as food banks or shelters, while others remain under-employed lacking the evolving job skills necessary to be part of today’s booming workforce economy,” said Rick Bregman, San Diego market president at Bank of America. “But through strategic philanthropic investments into San Diego’s incredible nonprofit network, such as Alpha Project for the Homeless, The Jacobs & Cushman San Diego Food Bank and the San Diego Workforce Partnership,Bank of America is deploying its capital to advance more economic opportunities in the region.”

Alpha Project will use its funding for its Rapid Response Housing program that provides rental assistance, landlord advocacy and assistance finding affordable housing and case management for homeless families and individuals. 

The Jacobs & Cushman San Diego Food Bank will use the funding to support its Childhood Hunger-Relief Initiative, specifically the School’s Out Hunger’s Not Summer Food Drive, which provides food for tens of thousands of the most vulnerable children in San Diego County and specifically focuses on chronically hungry school children living in poverty.

“We recognize that most Americans are often only one unfortunate event away from needing supportive services such as a food bank,” said James Floros, President and CEO of The Jacobs & Cushman San Diego Food Bank. “With support from Bank of America, our School’s Out Hunger’s Not Summer Food Drivehelps provide meals to children who qualify for and receive free school meals during the school year, but face hunger at home over summer vacation when free school meals are unavailable.”

The San Diego Workforce Partnership will use its funds to expand its county-wide internship program toward its new Live Well Center that provides supportive services to low-income residents such as those re-entering the workforce. Peter Callstrom, CEO of the San Diego Workforce Partnership, said “When more people have access to the resources that they need in order to succeed, our economy and the community become stronger. These invaluable funds enable us to expand our ability to empower job seekers with the tools they need for self-sufficiency, such as education, child care, housing and healthcare.”

Other San Diego-area organizations receiving grants include : Alpha Project for the Homeless, Asian Business Association Foundation, Barrio Logan College Institute, Big Brothers Big Sisters of San Diego County Inc, Biocom Institute, Connect Foundation, Info Line of San Diego County, Interfaith Community Services Inc, International Rescue Committee Inc, The Jacobs & Cushman San Diego Food Bank, Junior Achievement of San Diego County, Just in Time for Foster Youth, Kitchens For Good, LEAD San Diego Inc., Metropolitan Area Advisory Com on Anti-Poverty of San Diego County Inc, National Veterans Transitions Services Inc, Ocean Discovery Institute, Reality Changers, Regents of the University of California at San Diego, Ronald McDonald House Charities of San Diego Inc, San Diego Center For Children, San Diego Lesbian Gay Bisexual and Transgender Community Center, San Diego Mana, San Diego Regional Chamber Foundation, San Diego Regional Economic Development Foundation, San Diego Rescue Mission, San Diego Workforce Partnership, St. Vincent de Paul Village Inc, Support The Enlisted Project, The Neighborhood House Assn, United Way of San Diego County, Urban Corps of San Diego, Urban League of San Diego County, USS Midway Museum, YMCA of San Diego County, YWCA of San Diego County.

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).

Contact:
Desiree Roughton, desiree@workforce.org, (619) 228-2959