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Financial institution of America offers $155,000 in grants to Marin nonprofits

ByEditorialTeam

Aug 29, 2022

Financial institution of America has awarded a complete of $155,000 to 9 Marin County nonprofit organizations as a part of its Charitable Basis grant program.

The financial institution mentioned the charitable donations are a part of $700,000 in grants made to 25 nonprofits all through the North Bay. The grants will help packages  starting from workforce improvement and primary must neighborhood revitalization and small companies.

“We’ve been doing enterprise for over 100 years within the North Bay,” mentioned Jason Foster, Financial institution of America’s North Bay president. “We have now an extended historical past of partnering with native nonprofits and neighborhood leaders to make investments in financial alternative and social progress.”

The 9 Marin nonprofits awarded grants had been: 10,000 Levels, Agricultural Institute of Marin (AIM), Canal Alliance, Faculty of Marin Basis, Group Motion Marin, Downtown Streets Inc., ExtraFood.org, Homeward Sure of Marin and YWCA Golden Gate.

Foster declined to reveal how a lot every Marin group was awarded.

“Typically, we depart it to the nonprofits to speak their grants at their discretion,” he mentioned.

Andy Naja-Riese, Agricultural Institute of Marin’s CEO, mentioned his group obtained $30,000. Naja-Riese mentioned that is the primary grant AIM has obtained from Financial institution of America.

Naja-Riese mentioned AIM will use the cash to supply “Bounty Containers” to households and youngsters within the Canal neighborhood of San Rafael. Bounty packing containers are crammed with recent fruits, greens, and legumes sourced regionally from small farmers.

Naja-Riese mentioned the cash will permit AIM to supply about 840 packing containers to kids who take part in San Rafael’s Enriching Lives By Music (ELM) program, which offers music schooling and efficiency alternatives to largely Latino kids and households who dwell in and attend faculty within the Canal neighborhood.

Naja-Riese mentioned AIM started working with ELM in 2020 through the pandemic as a way of getting nutritious meals to Canal households. Naja-Riese mentioned the Financial institution of America grant may even assist to supply “vital financial stimulus to our small household farms within the area.”

Sara Matson, Canal Alliance’s improvement director, mentioned her group obtained a $25,000 grant from Financial institution of America. The Canal Alliance offers a wide range of companies to residents residing in San Rafael’s predominantly Latino Canal neighborhood.

“We have now been getting funding from Financial institution of America fairly persistently for about 25 years,” Matson mentioned. “The quantity has elevated through the years.”

Matson mentioned Canal Alliance will use the cash to help its workforce improvement program, which features a  building coaching program offered in partnership with Faculty of Marin and the Marin Builders Affiliation.

“We additionally provide a 10-week small enterprise improvement course in partnership with the Marin Small Enterprise Growth Heart,” Matson mentioned.

The grants are awarded competitively, and any nonprofit can apply. There are a number of requests for proposals yearly. In 2021, Financial institution of America awarded $225,000 to Marin nonprofits as a part of its Charitable Basis grant program.

Foster mentioned selections about which organizations are awarded grants are made by a bunch of senior leaders inside the financial institution who perceive the priorities of the financial institution’s giving. He mentioned these priorities usually revolve round meals insecurity, homelessness, job fluctuation, language challenges, and something financial mobility or jobs associated.

Foster mentioned Financial institution of America can be trying to make its charitable donations equitable.

“We’re keenly conscious of the truth that there are social justice points that should be righted,” he mentioned. “We make differentiated investments in communities of colour to drive financial mobility.”

Systemwide, Financial institution America made $370 million in philanthropic investments in 2021. Financial institution Of America’s pre-tax revenue for the 12 months ending June 30 was $31.5 billion, a 13% enhance yr over yr.

 

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