Program Provides $200,000 in Flexible Funding to Each Organization and Leadership Development Training to Advance Economic Mobility in Portland
Programs and services that address economic mobility and community development in Portland will be able to expand and scale their services, helping more people chart a path toward economic opportunity with help from multi-year grants from Bank of America. Hacienda Community Development Corp. (Hacienda CDC) and Virginia Garcia Memorial Health Center and Foundation (Virginia Garcia) have been named as the 2022 Bank of America Neighborhood Builders® awardees for their work in the Portland Metro region removing barriers and advancing economic opportunity.
Each organization receives a $200,000 grant over two years, comprehensive leadership training for the executive director and an emerging leader on topics ranging from increasing financial sustainability, human capital management and strategic storytelling, joins a network of peer organizations across the U.S., and gets the opportunity to access capital to expand their impact. The program continues to be the nation’s largest investment into nonprofit leadership development.
“Nonprofits are vital to community resilience and prosperity. By addressing our critical local needs such as affordable housing and workforce development, they are helping to alleviate barriers so that individuals and families can chart a path toward economic opportunity and stability,” said Roger Hinshaw, president, Bank of America Oregon and Southwest Washington. “It is important that we direct capital, other necessary resources and training to support Hacienda CDC and Virginia Garcia for long-term success so they can continue to grow strategically and address the most pressing needs of our region.”
Hacienda CDC is the largest Latino-led housing organization in Oregon. Their mission is to strengthen families by providing affordable housing, homeownership support, economic advancement and educational opportunities for BIPOC and low-income communities. Hacienda CDC serves over 3,000 community members through affordable housing and a wide array of services such as homeownership classes, after-school programs, and small business advising and technical assistance. They will use their grant funding to launch a new home lending program, which will provide 100% financing for first time-homebuyers that meet participation and income qualifications to provide them with a secure pathway to homeownership.
“We are honored to be the recipient of the Neighborhood Builders grant which will increase our capacity to help community members reach their dreams and goals. For far too long, our Latino and underserved communities have experienced economic hardship and systemic barriers head on; and for the last 30 years Hacienda has been doing the work to provide them with new opportunities and support to build a brighter future,” said Ernesto Fonseca, chief executive officer, Hacienda CDC. “Whether its housing, business advising, and in the near future, home lending, we continue to provide new, innovative pathways that lead to success and stability for our communities. Thanks to investment like the Neighborhood Builders grant, we can continue to deepen our impact and look towards a brighter future for all.”
To learn more about the partnership, click here.
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At Bank of America, we’re guided by a common purpose to help make financial lives better. We drive Responsible Growth by focusing on our clients, managing risk well, and making sure our growth is sustainable. To be sustainable, we have to share our success with our local communities. As part of this work, we develop strong partnerships with nonprofit organizations addressing issues fundamental to economic mobility and social progress in low- and moderate-income communities. We focus on improving the lives of individuals and families by investing in basic needs and workforce development and education and also strengthening broader community vitality by addressing needs related to affordable housing, small business, and neighborhood revitalization. Locally, Bank of America invested over $2 million in Oregon and SW Washington last year.
Since 2004, through the Neighborhood Builders program, Bank of America has invested more than $300 million in 92 communities across the nation, partnered with more than 1,500 nonprofits, and helped 3,000 nonprofit leaders strengthen their leadership skills. In Oregon and SW Washington, 29 nonprofits have been selected as Neighborhood Builders since 2004, with the bank investing $5.4 million into these local organizations. Nearly 18 years after its launch, Neighborhood Builders is one of the nation’s largest philanthropic investments in nonprofit leadership development. Each awardee receives a $200,000 unrestricted grant and the executive director and emerging leader are invited to attend our Neighborhood Builders Leadership Program for strategic growth, and succession and development trainings.
Since 2004, Student Leaders® has been part of Bank of America’s ongoing commitment to youth employment and economic mobility. They are helping prepare a diverse pipeline of community-minded young students to be successful in the workforce through leadership training and work experience. Through the annual Student Leaders program, 4 local students are connected to paid internships and attend a national leadership summit. The paid internships are at a local nonprofit and focus on skills development, leadership and service and help them gain practical work and life experience.
"Every year, we are able to make a greater impact in the Portland metro area thanks to the hard work of these energetic, intelligent and community–minded student leaders"
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Bank of America’s local employees are on the ground, volunteering with local nonprofit organizations to help improve neighborhoods. Employees and their families donate thousands of hours to volunteering each year – including stuffing backpacks with Schoolhouse Supplies, packing food boxes at Oregon Food Bank and teaching Financial Literacy classes in schools around our region.
Learn more about Bank of America’s commitment to Oregon and SW Washington by clicking on the links above, or by contacting the local Corporate Social Responsibility team.
Jessica Hewitt, Market Executive for Portland & SW Washington
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