San Diego Nonprofits Receive $532,500 from Bank of America to Address Homelessness and Cycle of Poverty
Partnerships helps remove barriers to basic needs and workforce development to put people on a path to economic success.
SAN DIEGO — Bank of America today announced $532,500 in grants to more than 40 nonprofits that help address the needs of those at risk for or experiencing homelessness across San Diego. The grants focus on increasing access to shelter and wraparound supportive services, in addition to job skills, education and other basic needs that are fundamental to establishing financial stability.
San Diego has the fourth largest homeless population in the United States according to the U.S. Department of Housing and Urban Development. More than 9,100 people are homeless, a 5% increase from the previous year. In a recent Kiplinger Report San Diego is the 10th most expensive city in the United States with cost of living 46.1% above the national average and 138% higher housing costs. In addition, 15.6% of all City of San Diego residents (212,994) live below the federal poverty threshold.
The nonprofits receiving funding helps put underserved residents in San Diego counties on a path to economic sustainability by increasing access to emergency and short term supportive housing as well as basic needs like food and hygiene, in addition to services connecting youth to first-time jobs, providing alternative pathways to employment and helping people overcome past hardship in their careers, so that they can get on a path to financial stability.
“So many people are just one life event away from being homeless or needing to depend on basic needs services such as food banks or shelters. But through strategic philanthropic investments into San Diego’s incredible nonprofit network addressing fundamental services like hunger relief, shelter and education, Bank of America can deploy capital to advance more economic opportunities in the region,” said Rick Bregman, San Diego Market President for Bank of America.
One of the grantees, Alpha Project For The Homeless, will use the funding for their Rapid Re-Housing program that provides rental assistance, landlord advocacy and assistance with finding affordable housing and case management for homeless families and/or individuals. Their primary goal is to move people into permanent housing.
“Bank of America’s support of our Rapid Re-Housing program is essential in our quest to reduce the growing homeless population by helping locate affordable housing options and providing comprehensive services. This strategic program has many unique elements to help us achieve our goals,” said Bob McElroy, President and CEO of the Alpha Project. “Having Bank of America collaborate on this local effort will certainly make a tremendous impact on the individuals and families we serve in helping them plan towards moving into permanent housing opportunities.”
Other 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, Chamber Research and Information Foundation, Connect Foundation, East County Economic Development Council Foundation, Info Line of San Diego County, Interfaith Community Services Inc, International Rescue Committee, Inc, Jacobs & Cushman San Diego Food Bank, Junior Achievement of San Diego County, Just In Time For Foster Youth, Kitchens For Good, Metropolitan Area Advisory Com on Anti-Poverty of San Diego County Inc, National Veterans Transitions Services Inc, Neighborhood House Association, Ocean Discovery Institute, Project Concern International, Reality Changers, 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 Economic Development Foundation, San Diego Second Chance Program, San Diego Workforce Partnership, Shelter Care Providers of San Diego, Inc, St. Madeleine Sophie’s Training Center, St. Vincent de Paul Village, Inc, Support The Enlisted Project, The Rosie Network, United Way of San Diego County, Urban Corps of San Diego County, Urban League of San Diego County, USS Midway Museum, Workshops for Warriors, Inc, YMCA of San Diego County.
These grants are part of the company’s commitment to responsible growth as it works to improve the financial lives of individuals and families. Philanthropic and volunteer investments play a key role in this effort to build thriving communities. Last year, Bank of America volunteers logged nearly 18,000 volunteer hours in the San Diego market alone.
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 at @BofA_News.
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