Programs and services that are addressing inclusive, resilient communities and veteran homelessness will be able to help more people chart a path toward economic opportunity, with help from a multi-year grant from Bank of America. LISC Virginia was named as the 2022 Bank of America Neighborhood Builders® awardee for their work throughout Richmond to remove economic barriers and advancing economic opportunity. “We are so very grateful for this generous award and acknowledgement of the impact of LISC’s work in our region. Bank of America’s support will enable us to further build our internal capacity for strategic growth and prepare our team to be leaders in the field of community development.” Said Jane Ferrara, Executive Director of LISC Virginia.
Organization receive a $200,000 grant over two years, comprehensive leadership training for an executive director and an emerging leader – on topics including financial sustainability, human capital management and strategic storytelling – who join a network of peer organization leaders 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.
The LISC Virginia was selected as an awardee for its comprehensive community development work and the implementation of a plan for advancing economic mobility by dismantling barriers and increasing the homeownership rate among communities of color in the Richmond region.
“Nonprofits are the backbone to our local community, working closely with individuals, families, and community members. Through their understanding of the obstacles many are experiencing, they are able to develop programs and services that will help alleviate or eliminate these barriers, and help those they serve chart a path toward economic opportunity,” said Victor Branch, president, Bank of America Richmond. “It’s important that we direct not only capital and the necessary resources and training to help position these nonprofits and their leadership team for long-term success as they grow and make a positive impact.”
Bank of America’s 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.