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New Jersey-Based Organizations Will Each Receive Flexible Funding and Leadership Development Training to Advance Economic Mobility
TRENTON, N.J. and ASBURY PARK, N.J., Dec. 7, 2022 /PRNewswire/ -- Programs and services addressing New Jersey health and neighborhood revitalization needs are helping more people chart a path toward economic opportunity with help from a multi-year grant from Bank of America. Trenton Health Team Inc. and Interfaith Neighbors Inc. have been named as the 2022 Bank of America Neighborhood Builders ® awardees for their work in the New Jersey community removing economic barriers and advancing economic opportunity.
Each organization receives a $200,000 grant over two years, comprehensive leadership training for their executive director and additional training for an emerging leader at the organization. The training will include topics ranging from increasing financial sustainability, human capital management and strategic storytelling. They will also join a network of peer organizations across the U.S. and have the opportunity to access capital to expand their impact. The program continues to be the nation's largest investment into nonprofit leadership development.
"Both Trenton Health Team and Interfaith Neighbors address significant needs we face in New Jersey." said Alberto Garofalo, president, Bank of America New Jersey. "It's important that we support leaders in the nonprofit community not only with capital, but the resources and training to position these organizations and their leaders for long-term growth and impact."
Trenton Health Team (THT) is an innovative nonprofit dedicated to the health and well-being of the greater Trenton community. THT has expanded in recent years to address a broader range of health concerns, including housing equality, food insecurities, neighborhood safety, education, social cohesion, and equity. They will use the grant funding to expand their community advocacy and engagement efforts, amplifying resident voices on issues that impact the health and well-being of themselves and their communities.
"Barriers in access to healthcare and other inequitable socioeconomic conditions in places like Trenton make it critical that residents are engaged as advocates and experts in determining the future of their communities," said Gregory Paulson, CEO of Trenton Health Team. "With this support from Bank of America, we can further expand and deepen our efforts to support community engagement with the goal of improving health and well-being."
Interfaith Neighbors is focused on equitably and sustainably transforming Asbury Park's Westside neighborhood through effective, community-based planning. Interfaith Neighbors also serves all of Monmouth County through its signature Rental & Mortgage Assistance and local Meals on Wheels programs. They will use their grant funding to launch new projects aimed at expanding neighborhood access to healthy activities and food choices.
"Interfaith Neighbors recently completed its second 10-year neighborhood revitalization plan to eliminate disparities and promote the principals of a healthy and connected community," said Paul McEvily, Executive Director of Interfaith Neighbors. "This funding from Bank of America will help us bring that plan to life and enact lasting, meaningful change in our communities."
In New Jersey, 38 nonprofits have been selected as Neighborhood Builders since 2004, with the bank investing $7.6 million into these local organizations.
The invitation-only program is highly competitive, and organizations are selected by a committee comprised of community leaders and past Neighborhood Builders honorees.
Through 2021, Bank of America has invested over $280 million in 50 communities through Neighborhood Builders, partnering with more than 1,400 nonprofits and helping more than 2,800 nonprofit leaders strengthen their leadership skills. Neighborhood Builders is just one example of how Bank of America deploys capital in communities, builds cross-sector partnerships and promotes socioeconomic progress as part of its approach to responsible growth.
Bank of America Environmental, Social and Governance
At Bank of America (NYSE: BAC), 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 ).
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SOURCE Bank of America Corporation