Two Chicago Organizations set to receive $200,000 in funding from Bank of America

Back of the Yards Neighborhood Council is one of two West side organizations to receive $200,000 as part of the Bank of American Neighborhood Builder program. Photos provided by Julie Thorson
Back of the Yards Neighborhood Council is one of two West side organizations to receive $200,000 as part of the Bank of American Neighborhood Builder program. Photos provided by Julie Thorson

Two Chicago Organizations set to receive $200,000 in funding from Bank of America

By Tia Carol Jones
The Bank of America’s Neighborhood Builders program will reward two West side organizations with needed funding.  The Back of the Yards Neighborhood Council and the Lawndale Christian Development Corporation will receive $200,000 in flexible funding, as well as leadership training for its executive director and an emerging leader in the organization.

The Back of the Yards Neighborhood Council has been serving the community since 1939. Now it has pivoted to address issues facing the community post-pandemic, that have become more highlighted, which include housing and homeownership.

According to the Bank of America, since 2004, through its Neighborhood Builders program, the financial institution has partnered with 36 nonprofits in Chicago. It has invested $7.2 million to provide financial education and economic mobility opportunities.

The recipients of funding from The Neighborhood Builders program work on issues that include economic opportunities, economic development, workforce development and community revitalization.  The ultimate goal of the program is to advance nonprofit organization and enable them to sustain their efforts in the communities, as well as taking their organization in the community into the future.

Craig Chico is the president and CEO of the Back of the Yards Neighborhood Council. Esmeralda De la Luz is the social media manager for the Back of the Yards Neighborhood Council.

“We’re dealing with this in a new way, we’re trying to be a little unique. We didn’t invent Microsoft or find a cure for cancer, but we’re going at it a little differently and we’re getting the support of people and institutions like Bank of America. Now we’re able to give it a shot and do what we’ve been wanting to do for a number of years,” Chico said.

The flexible funding allows the Back of the Yards Neighborhood Council the freedom to help with down payment assistance for appropriate individuals, help with acquisition and establish the pilot homeownership program to help returning citizens to get into a home. The hope is that the program will get long-term, sustainable funding.

“We want these guys to build some wealth, build some equity and hopefully have the where with all to pay it back, at least to a certain extent, so that we can make it available to another person who needs it,” Chico said.

Not only will the pilot program help those returning citizens, it also will help the neighborhood. It will have a stabilizing factor, especially in a neighborhood that needs stabilizing.
Chico acknowledged that there is a need for emerging leaders and that De la Luz will receive a breadth of knowledge from being a part of the program and connecting with other emerging leaders and executive directors from around the country.

De la Luz was born and raised in the Back of the Yards and wants to make sure her community does better.   Participating in Neighborhood Builders will give her an opportunity to bring back knowledge to make it better.

“A grant like this, the money means so much. We have a budget that is limited. It is a lot of money, and it is operational. It will allow us to do a lot of things we want to do. This gives us a huge opportunity,” said Chico. “We’re doing the work in the trenches, its an honor to be recognized for our work.”

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