Neighbor News
Bank of America Partners with Non-profits to Enhance Community Revitalization with $300,000
Partnerships will help improve access to affordable housing and foster sustainable growth in the Houston community
HOUSTON (August 31, 2016) – Bank of America honored 11 nonprofit recipients with $300,000 in community development grants at a reception last night in support of increased access to affordable housing and neighborhood revitalization in the Houston community.
Funding will go towards programs that provide financial education to over 1,300 Houston community members, offer affordable homes to over 1,600 people in need, bring stability and hope to over 120 homeless women and children, and redevelop Houston’s historic 5th Ward, among many other initiatives that work to bring affordable housing and financial stability to the Houston community.
More than 20 percent of households in the Houston region spend 50 percent or more of their income on housing expenses – a statistic we are working to change.
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“Community development initiatives and revitalization efforts help strengthen Houston as a place where people want to live, work and do business and leads to sustainable economic growth,” said Hong Ogle, Houston market president, Bank of America. “We’re honored to partner with leading nonprofit organizations like Avenue CDC, New Hope Housing Inc., LISC and countless others in support of their missions to address tough challenges in affordable housing and community development for a thriving Houston community.”
Organizations receiving grants include:
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- Avenue CDC
- Buffalo Bayou Partnership
- Chinese Community Center
- Credit Coalition
- Fifth Ward CRC
- Habitat for Humanity Northwest Harris County
- HomeAid Houston
- LISC of Greater Houston
- Neighborhood Centers Inc.
- Neighborhood Recovery CDC
- New Hope Housing
In the last year, Bank of America created more than 14,400 housing units across the U.S., including more than 13,400 units of affordable housing, for individuals, families, veterans, seniors and previously homeless individuals. In Houston, Bank of America has invested more than $1.1 million over the past 5 years, supporting community development non-profits that enable access to affordable housing.
Community revitalization is just one example of Bank of America’s commitment to responsible growth and shared success as it works to make the financial lives of individuals and families in Houston better. Philanthropic and volunteer investments play a key role in building thriving communities. Last year, Bank of America’s Houston area employees devoted nearly 27,000 volunteer hours and contributed over $545,000 to local nonprofits – matched by the Bank of America Charitable Foundation.
About Bank of America Environmental, Social and Governance
At Bank of America, our focus on Environmental, Social and Governance (ESG) factors is critical to fulfilling our purpose of helping make people’s financial lives better. Our commitment to growing our business responsibly is embedded in every aspect of our company. It is demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our customers, and the impact we help create around the world in helping local economies thrive. An important part of this work is forming strong partnerships across sectors - including community and environmental advocate groups, as well as non-profits – in order to bring together our collective networks and expertise to achieve greater impact. Learn more at www.bankofamerica.com/about and connect with us on Twitter at @BofA_News.
Reporters May Contact
Britney Sheehan, Bank of America, 1.425.467.9744
