2 Houston Nonprofits Receive Awards From Bank Of America

From Bank of America:

December 10 2019

Bank of America Provides Capital IDEA Houston and Covenant House Texas Funding and Leadership Training to Advance Economic Mobility in Houston

$400,000 in Funding and Leadership Resources are Part of Bank’s Neighborhood Builders® Program, Which Strengthens Nonprofit Leadership to Help Communities Thrive

HOUSTON – Capital IDEA Houston and Covenant House Texas have been named as the 2019 Bank of America Neighborhood Builders® awardees for Houston. The nonprofits were selected for their work in the Houston area to address issues fundamental to economic mobility, specifically assisting and elevating low-income working adults and youth facing homelessness.

As an awardee, each organization receives a $200,000 grant, 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.

“Driving advancements in economic mobility and community development is a priority at Bank of America, and the Neighborhood Builders program allows us to celebrate and support organizations that are making impacts to further these goals across our city,” said Hong Ogle, Houston market president, Bank of America.

Capital IDEA Houston has served the community by acting as a bridge to connect committed, yet underemployed adults to employers in need of highly skilled workers. Since 2010, Capital IDEA has been committed to providing the financial and emotional support non-traditional adult learners need to succeed in higher education and ultimately reach financial self-sufficiency.

“The funding provided by the Neighborhood Builders grant will help us cover operating costs and enable us to expand our career-oriented programs to provide participants with opportunities to engage in meaningful career exploration, including post-secondary trainings and apprenticeships,” said Michelle Paul, Executive Director, Capital IDEA Houston. “Additionally, the leadership training will allow us to advance our five-year plan and grow our staff while providing invaluable experience to our dedicated employees.”

Covenant House Texas (CHT) is the only organization in Houston exclusively meeting the needs of homeless youth, ages 18 to 24, from low-income communities. By focusing agency resources on the young adult population, CHT provides a unique program that offers safety and security from the dangers of homelessness, age-appropriate programming and services for special populations, such as young parents and human trafficking victims. CHT focuses on the development of pathways for these at-risk youth to gain immediate stability, pursue opportunities for personal and economic growth and job development.

“Leadership is a key component of the success and sustainability of our organization, and the training offered through Neighborhood Builders will allow us to develop the next generation of leadership that will continue to advance Covenant House Texas in the future,” said Leslie Bourne, Executive Director, Covenant House Texas. “Ultimately, this grant will guarantee that more youth are served, and to a greater degree.”

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

Bank of America

At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).

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This press release was produced by Bank of America. The views expressed here are the author’s own.