Bank of America recently announced $545,000 in grants to 20 Las Vegas nonprofits that will help drive economic opportunity and upward mobility for individuals and families and put them on a path toward stability and success.
The local nonprofits receiving funding will help address two key factors in improving economic mobility: basic needs fundamental to building life-long stability, including access to food, shelter and health services, and access to educational and workforce development services building pathways to employment, including providing resources to rebuild careers that may have been impacted by the pandemic.
According to the U.S. Bureau of Labor Statistics, Southern Nevada is experiencing general economic recovery, including an improving unemployment rate in Las Vegas (33.3% in April 2020 to 9% in April 2021).
Still, other studies show a long road ahead to regain jobs lost during the coronavirus shutdowns, to maintain protections for renters and to retrain individuals into new careers. Southern Nevada has yet to see a return to pre-pandemic unemployment lows (4% in April 2019).
Among those nonprofits include organizations like College of Southern Nevada, which will utilize the corporate investment to fund the initial six college credits to onramp students into its Ability to Benefit Career Pathways, providing an avenue to entry-level careers for underserved and economically disadvantaged populations throughout Southern Nevada.
“This generous grant from Bank of America provides the College of Southern Nevada a wonderful opportunity to serve the people in our diverse communities. The grant will provide GED students with the ability to earn a high school diploma and college credit leading to career pathways in high demand career fields,” said CSN President Dr. Federico Zaragoza. “We are proud to stand arm-in-arm with nonprofits across our community to ensure that everyone has an opportunity to succeed, including those from traditionally underserved communities.”
Three Square Food Bank is another nonprofit that will receive grant funds, which will provide the organization the flexibility and resources that are vital to fighting hunger and getting the community back on its feet. The grant will create 300,000 wholesome meals for families and individuals in need. As food insecurity across the valley remains above pre-pandemic levels with more than 363,000 Southern Nevadans experiencing hunger, the funds will allow Three Square to continue distributing food during these difficult times.
“Food insecurity continues to be a prevailing issue for so many of our community members, especially now as we continue to face the damaging effects stemming from the pandemic,” said Brian Burton, president and CEO, Three Square Food Bank. “We’re incredibly grateful to Bank of America for its generous gift, so that we may continue to aid those who have faced financial hardship, job loss and other tragic circumstances in the past year.”
Other organizations receiving grants include: Boys & Girls Clubs of Southern Nevada; Catholic Charities of Southern Nevada; Clark County Public Education Foundation Inc.; Communities In Schools of Nevada; Discovery Children’s Museum; Fulfillment Fund Las Vegas; HELP of Southern Nevada; Hope for Prisoners; Jobs for Nevada’s Graduates Inc.; Just One Project; Legal Aid Center of Southern Nevada Inc.; Olive Crest; Opportunity Village; Safe Nest; Southern Nevada Culinary and Bartenders Training Fund A Trust; Tech Impact; The Shade Tree Incorporated; and Volunteers in Medicine of Southern Nevada.These grants are part of the company’s commitment to responsible growth as it works to improve the financial lives of individuals and families. Philanthropic and volunteer investments play a key role in this effort to build thriving communities. Recently, Bank of America announced its newly expanded $1.25 billion, five-year commitment to help advance racial equality and economic opportunity in our communities.
Additional background about Bank of America’s Charitable Foundation giving can be found here.
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