Bank of America Invests Over $900,000 to Support Economic Mobility in Houston

HOUSTON, TX – Bank of America today announced over $900,000 in economic mobility grants, to be distributed to 33 local nonprofit organizations working to increase basic needs, workforce development and education opportunities in the Houston community.

The nonprofits receiving funding are connecting youth to first-time jobs, giving young adults alternative pathways to employment and providing second chances to individuals with barriers to help them rebuild careers and lives.

With Houston unemployment rates above the national average and up from 2016, finding a well-paying job continues to be a challenge and our collaboration with organizations like Communities in Schools, Junior Achievement of Southeast Texas, and College Forward are focused on building a diverse Houston workforce, providing skilled workers to organizations while creating economic opportunity.

Additionally, funding will help individuals and families in Houston chart a path toward greater economic mobility through access to food, shelter, benefits and other fundamental needs.

Hunger relief in Houston continues to be a pressing need for low-income individuals and families, with over 740,000 in Harris County food insecure, 290,000 of which are children.

While Houston’s homelessness population has seen great improvement, over 3,400 can still be found on the street or in shelters on any given night, leaving a great amount of work to be done in the space.

Support of organizations such as Houston Food Bank, SEARCH Homeless Services, The Bridge and The Beacon helps continue and expand services that fight hunger and homeless throughout Houston, providing means for many at-risk individuals to begin overcoming adversity and start mapping out a path to financial stability.

“We recognize that addressing immediate basic needs, as well as connecting individuals to long-term success through skills-building and jobs are critical to achieving greater economic mobility in our community,” said Hong Ogle, Houston Market President, Bank of America. “We’re honored to partner with nonprofit organizations like United Way, SER Jobs for Progress, Houston Food Bank and Houston Area Women’s Center from across Houston that are helping to build a more inclusive and sustainable community.”

SER Jobs for Progress will use the funding toward the Bank of America Summer Youth Employment program which is going on its sixth year in Houston, providing 70 young people age 16-21 with paid internships this summer at nonprofit local organizations and Bank of America financial centers.

In addition to gaining real-world job experience, the interns will also receive job readiness training to better prepare them not just for the upcoming summer internship but future interview and job opportunities.

“We partner on the Bank of America Summer Youth Employment program to help provide today’s youth with an on-ramp to the training and education needed for success in 21st century job roles.” said Nory Angel, Executive Director and CEO. “With continued Bank of America support like this grant, we help lay a foundation for the individuals looking to gain real-world job experience, and continue to grow our impact in the Houston community.”

Other organizations receiving grants include: Capital IDEA, Christian Community Service Center, Literacy Advance, LISC, Interfaith of the Woodlands, AIDS Foundation Houston, Star of Hope Mission, Northwest Assistance Ministries, Memorial Assistance Ministries, San Jose Clinic, The Women’s Home, Fort Bend Women’s Center, The Salvation Army, Girl Scouts of San Jacinto, Junior Achievement of Southeast Texas, Lone Star College Foundation, Big Brothers Big Sisters, Rice Summer Business Institute, Genesys Works, Emerge, The Posse Foundation, Boys and Girls Clubs of Greater Houston, Teach for America, Houston Area Women’s Center, and the Children’s Museum of Houston.

The grants in Houston are part of nearly $43 million in grants the Bank of America Charitable Foundation is providing across the country to advance economic mobility through workforce development and basic needs.

These grants are part of the company’s commitment to responsible growth as it works to improve the financial lives of individuals and families. Philanthropic and volunteer investments play a key role in this effort to build thriving communities.

Image: Shutterstock

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