Bank of America Makes $400,000 Investment Through Neighborhood Builders Program To Advance Economic Mobility in Chicago

Bank of America recently announced it has awarded $200,000 in funding and leadership resources to both Chicago Scholars and Enlace Chicago as part of Bank’s signature Neighborhood Builders® program
Bank of America recently announced it has awarded $200,000 in funding and leadership resources to both Chicago Scholars and Enlace Chicago as part of Bank’s signature Neighborhood Builders® program

Bank of America Makes $400,000 Investment Through Neighborhood Builders Program To Advance Economic Mobility in Chicago

Bank of America recently announced it has awarded $200,000 in funding and leadership resources to both Chicago Scholars and Enlace Chicago as part of Bank’s signature Neighborhood Builders® program.

The nonprofits were selected as 2019 Bank of America Neighborhood Builders for their dedication to addressing issues fundamental to economic mobility across the Chicago area.

Chicago Scholars is making an impact by selecting, training and mentoring academically ambitious students from under-resourced communities to complete college and become the next generation of leaders.

Enlace Chicago is dedicated to making a positive difference in the lives of Little Village residents by fostering a safe and healthy environment and by championing opportunities for educational advancement and economic development.

As a Neighborhood Builder awardee, each organization also receives a year of leadership training for the executive director and an emerging leader at the organization, a network of peer organizations across the U.S., and the opportunity to access capital to expand their impact.

Over the past 15 years, Bank of America has invested $240 million in 49 communities through Neighborhood Builders, partnering with more than 1,000 nonprofits and helping more than 2,000 nonprofit leaders strengthen their leadership skills.

“It’s amazing that after 15 years, our Neighborhood Builders program continues to drive such a significant impact throughout Chicagoland,” said Paul Lambert, Chicago market president, Bank of America. “Our Neighborhood Builders alumni play such an integral role in shaping their communities, and Chicago as a whole. It’s through programs like this that our nonprofit partners have the power to plan strategically for growth and long-term sustainability.”

Enlace Chicago convenes, organizes and builds the capacity of Little Village stakeholders to confront systemic inequities and barriers to economic and social access. By definition, Enlace means ‘to bring together or connect’ and its partnerships include a wealth of community stakeholders and local, regional and national organizations and coalitions.

“My vision for Little Village is a united, safe community where families continuously invest and engage in their own development, and where our community finds opportunities for growth,” said Katya Nuques, executive director, Enlace Chicago. “As the leader of Enlace Chicago, I want that self-determination to be the engine that drives change; for our staff, participants, and the entire community.

The combination of funding and leadership development available through the Neighborhood Builders program makes it a unique opportunity, both today and for years to come.”

Chicago Scholars offers a unique seven-year, holistic program model to students who have demonstrated leadership in their schools, communities, or homes and are committed to furthering their education.

The nonprofit is proud to develop talented, diverse leaders by empowering academically ambitious students who will be the first in their families to attend college or are from under-resourced communities in Chicago. The programs help these students overcome systematic barriers to succeed in college and their careers while preparing the city’s businesses and organizations for the next generation of leaders.

“I believe that education is not a merit of socioeconomic status, but a valuable resource to pull marginalized youth out of poverty and into leadership positions that positively influence their communities,” said Dominique Jordan Turner, CEO, Chicago Scholars. “We strive to position Chicago Scholars as an influencer and a convener. I want our organization and our peers to think about ourselves as part of the system that we want to – and can – change.”

Since 2004, through its Neighborhood Builders program, Bank of America has partnered with 32 nonprofits in Chicago, investing $6.4 million to provide financial education and economic mobility opportunities within the Chicago area.

The invitation-only program is highly competitive, and leading members of the community participated in a collaborative selection process to identify this year’s awardees.

Examples of the leadership training topics include human capital management, increasing financial sustainability, and storytelling. 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.

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