BofA provides $37,500 in grants to local nonprofits
Bank of America recently awarded a total of $37,500 in grants to two Treasure Coast nonprofit organizations helping to address barriers fundamental to economic mobility locally. This second round of local grants the company awards to local nonprofits this year focuses on strengthening broader community vitality by addressing needs related to affordable housing, small business resiliency and neighborhood revitalization.
In Martin County, home prices are up 5.1% year-over year, suggesting a need for more affordable housing within the area as costs continue to rise. Access to safe, affordable housing is essential to overall well-being, impacting health, education and employment opportunities. As the cost of living rises, supporting organizations that create healthy living environments, increase affordable housing options and promote stable homeownership is essential.
A grant to Habitat for Humanity of Martin County will help support the organization’s Community Development Initiative in Martin County. Habitat plans to use the funds to continue developing its Pettway Village neighborhood and create new homes for local, low-income families. They also plan to make minor repairs and beautifications to existing local homes.
“Bank of America has been a great supporter of all the work we do in the community to assist low-income families find an affordable and sustainable home in which to raise their families,” said Mike Readling, executive director, Habitat for Humanity of Martin County. “I can’t thank Bank of America enough for not only funding to start new projects, but the groups of volunteers that come out to the construction sites and work tirelessly to make these homes a reality.”
A grant to Indian River State College invests in local business owners by supporting their Small Business Development Center, which provides expert consulting to local business owners. In Florida, there are more than 3.1 million small businesses, with this number increasing every year. These small businesses owners don’t always have access to or knowledge of the resources available to them, demonstrating a need for specialized guidance and support from business experts.
The organization will use the funds to support the center’s APEX government contracting and procurement consultant, who helps business owners secure government contracts. The funds will also go towards their Profit Mastery Program, a 16-hour financial training program that instructs business owners on how to better understand, manage and leverage their financials to make business decisions.
“Partnering with these nonprofits to address critical issues demonstrates how Bank of America is taking action to provide the resources and support needed to help the Treasure Coast thrive,” said Susan Rabinowitz, president, Bank of America Treasure Coast. “These grants build upon our longstanding efforts to help strengthen community vitality by addressing important issues like affordable housing, small business resiliency, and neighborhood revitalization.
These grants build on the $1,182,000 Bank of America provided to Treasure Coast organizations since 2020 and are part of the company’s longstanding commitment to advancing economic mobility.
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