New Urban Arts and Housing Network of R.I. Win $200K Grants from BofA

PROVIDENCE –New Urban Arts and the Housing Network of Rhode Island have been named as 2022 Bank of America Neighborhood Builders awardees for their work in the Rhode Island community removing economic barriers and advancing economic opportunity.

Each organization receives a $200,000 grant over two years, comprehensive leadership training for the executive director and an emerging leader on topics ranging from increasing financial sustainability, human capital management and strategic storytelling, joins a network of peer organizations across the U.S., and gets the opportunity to access capital to expand their impact. The program continues to be the nation’s largest investment into nonprofit leadership development.

“Nonprofits like New Urban Arts and the Housing Network of Rhode Island are the backbone to our local community. They are on the ground working closely with individuals, families, and community members, helping them chart a path toward economic opportunity,” said Kevin Tracy, president, Bank of America Rhode Island. “It’s important that we direct not only capital, but the necessary resources and training to help position these nonprofits for long-term success so they can continue to make a positive impact.”

New Urban Arts removes barriers that low-income students face to arts education, academic enrichment and mentoring, all factors that contribute to gaps in educational achievement and financial security. They will use their grant funding for program expansion, staff additions and improvements to office and studio space.

“This funding comes at an amazing time; New Urban Arts is currently celebrating our 25th anniversary, and the need for our programs is greater than ever as all of us, including the young people we serve, continue to wrestle with the ruptures caused by the pandemic,” said Daniel Schleifer, Executive Director, New Urban Arts. “These funds will lay the groundwork to ensure that the organization can sustain itself for decades to come.”

The Housing Network of Rhode Island is the statewide association of 16 non-profit Community Development Corporations committed to the development and preservation of affordable homes and vibrant communities. They will use their grant funding to strengthen their cross-sector advocacy of safe, healthy, and affordable homes in Rhode Island.

“The Housing Network of Rhode Island serves as a convener and facilitator to elevate housing at the federal, state, and local levels. The impact of this award will be transformative. It will support our efforts to drive cross-sector collaboration and community connections to advance equitable housing policies and promote the development of safe, healthy, and affordable homes in Rhode Island. We are excited to partner with Bank of America to strengthen our collective capacity to do this work,” said Melina Lodge, Executive Director, Housing Network of Rhode Island.

In Rhode Island, 25 nonprofits have been selected as Neighborhood Builders since 2007, with the bank investing $5 million into these local organizations.

The invitation-only program is highly competitive, and organizations are selected by a committee comprised of community leaders and past Neighborhood Builders honorees.

Through 2021, Bank of America has invested over $280 million in 50 communities through Neighborhood Builders, partnering with more than 1,400 nonprofits and helping more than 2,800 nonprofit leaders strengthen their leadership skills. 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.