DETROIT – Recently, Bank of America is celebrating its annual “Day of Giving” by connecting more than 100 employee volunteers with the bank’s community partners working to support economic opportunity in Metro Detroit. Employee volunteers and bank leadership will also enjoy a luncheon with bank partners and conclude the day with a special “GIVE” celebration tonight at Sound Board Detroit, which will welcome bank partners, this year’s Student Leaders and the 2024 Neighborhood Builders honorees.
Bank of America awarded $4 million in grants to numerous Metro Detroit-area nonprofits and bank employee volunteers have spent more than 18,000 hours helping to strengthen the work of these local nonprofit partners in 2024. These nonprofit partners are improving the lives of individuals and families throughout Michigan by investing in health, jobs, basic needs, emergency shelter, affordable housing and financial education. Across Michigan, the bank contributed more than $9.1 million to nonprofits through grants, investments, sponsorships and engagements.
“The critical work done daily by our nonprofit community partners helps Michigan businesses, individuals and families achieve significant economic stability and growth,” said Star Crawford, Market Executive, Bank of America Detroit. “Between the dedication of our employee volunteers to these important causes and the grant funding Bank of America provides, we are playing our part to improve lives and strengthen our Metro Detroit community.”
More than 50 organizations have received grants this year, including four first-time recipients of Bank of America funding, including:
- American Indian Health and Family Services of Southeastern Michigan
- Henry Ford Health System
- Life Remodeled
- Michigan Central Center for Mobility and Society
At GIVE, the bank also announced Empowerment Plan and National Faith Homebuyers as Metro Detroit’s 2024 Neighborhood Builders®. As one of the nation’s largest philanthropic investments into nonprofit leadership development, each nonprofit receives $200,000 grant over two years, comprehensive leadership training for an executive director and an emerging leader and access to a national network of nonprofit peers.
Empowerment Plan is dedicated to breaking the cycle of homelessness in Metro Detroit through employment. The nonprofit provides jobs to individuals experiencing or at risk of homelessness, training them to manufacture innovative EMPWR coats, which transform into sleeping bags. By equipping these individuals with job skills and stability, Empowerment Plan empowers them to achieve financial independence, while also distributing life-saving coats to those in need. Since its inception, Empowerment Plan has distributed over 85,000 coats across 50 states and 21 countries.
“We are incredibly honored to be recognized as a 2024 Bank of America Neighborhood Builder. This award is not only a testament to the transformative work our team has achieved but also a powerful investment in our future growth and impact,” said Veronika Scott, Founder & CEO, Empowerment Plan. “The unrestricted grant and leadership development opportunity will allow us to strengthen our mission of breaking the cycle of homelessness through employment. With Bank of America’s support, we are empowered to expand our reach, deepen our community impact, and continue building pathways to stability and success for individuals facing some of life’s toughest transitions.”
National Faith Homebuyers helps Detroit residents in purchasing new homes and staying in the homes in which they already live by providing programs and services like down payment assistance, home buyer counseling, foreclosure assistance and prevent and financial literacy programs. Through their programs and services, they help educate residents to become financially educated and independent.
Dina Harris, President, National Faith Homebuyers, said the Neighborhood Builders grant will allow the organization to further support Detroit homeowners.
“We are deeply grateful to Bank of America for awarding National Faith Homebuyers the Neighborhood Builders Grant. Over the past 20 years, Bank of America has been a great partner in helping NFH help more than 5,000 families realize the dream of homeownership,” said Harris. “This generous investment allows us to increase the number of families NFH empowers to achieve the dream of homeownership. With these funds, we will be able to provide critical support services, education, counseling, and resources that strengthen financial readiness and housing stability for families in our community. Together, we are creating pathways to sustainable homeownership, fostering stronger neighborhoods, and building a legacy of hope for generations to come.”
Since 2019, Bank of America has awarded $28 million in support to fund partner initiatives, and its employee volunteers have spent thousands of hours helping to strengthen these important organizations.
Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).
