The Bank of America Charitable Foundation invested more than $220 million last year in non-profit organizations in the bank’s 92 markets, and already this year they have awarded nearly $1 million in grants to organizations in Ohio.
Their mission is to increase economic mobility within those markets. Their method is to empower the non-profit organizations – not simply donating money for programs but investing in the infrastructure of the organizations.
Among other things, the BoA Foundation offers leadership training and convenes roundtable discussions where non-profit leaders can share ideas.
“We never want to be just a check,” said Jennifer Hurd, who oversees Bank of America’s philanthropic efforts in Ohio as Senior Vice President of the market. “Everybody needs the money, but we look at capacity: How will it be sustainable?”
Hurd appreciates that Cincinnati Works takes the same approach to workforce development. We do more than place our Members in jobs. Our coaches teach lifelong skills and help Members establish stability within a job, so they can pursue a career and the many personal and professional opportunities that come with it.
“When I think of what Cincinnati Works does, it aligns perfectly,” Hurd said. “It is not just a job, but how do you set people up to help their families, to choose a career path, to set them up for the long term? When we talk about economic mobility, there has to be an end goal in sight, and every end goal is different.”
Cincinnati Works was among the local organizations to receive an economic mobility grant during the first cycle of 2019, which will support our job readiness program.
This is the third consecutive year that Bank of America has increased its contribution to our organization, which mirrors the bank’s increased commitment to the Greater Cincinnati region. The Foundation offered its Neighborhood Builders grant here for the first time in 2018, and it expects to award two such grants in 2019.
“We don’t want to put a Band-Aid on something,” Hurd said. “We want to make sure it can last. Being a good steward for our community is part of our business.”