Grant will support HOPE Village Initiative community programs

The Bank of America Charitable Foundation has named Eastern Market and Focus: HOPE as recipients of the 2013 Neighborhood Builders® award. The program is a strategic investment that couples leadership training with a $200,000 unrestricted grant for high-performing nonprofits that have made a significant impact addressing needs related to community development, critical needs or workforce development and education. Nonprofit leaders gain valuable skills and apply funding where it is most needed for maximum local impact.

“We recognize the important role Eastern Market and Focus: HOPE play in serving our most vulnerable residents and ensuring better lives for so many in our community,” said Matt Elliott, Michigan Market, President, Bank of America. “The leadership training and funding will not only deepen their impact today, but sustain their mission and services over time.

The Bank of America Charitable Foundation gave approximately $3 million in grants and sponsorships to nonprofits and community programs across Michigan last year. The grants and sponsorships are part of a targeted giving initiative to address issues related to jobs, food programs and shelter, and provide longer term solutions that promote financial wellness through access to benefits and resources.

“We are committed to supporting local nonprofits that make a difference in the communities where we live and work,” Elliott said. “The grants and sponsorships we support assist these organizations in meeting the region’s most critical needs while supporting innovative programs and integrated services that help address the crucial needs of our residents.”

Eastern Market Corporation, the nonprofit that manages and promotes Eastern Market on behalf of the City of Detroit will use the support from the Neighborhood Builders grant to launch a new Sunday Market and to pilot the development of the Eastern Market Corner Store – a healthy convenience store to improve access to fresh fruits and vegetables. The Sunday Market will allow Eastern Market to expand its incubation of small business ventures from more than 300 to more than 400 while the corner store pilot will greatly expand the market's fresh food access programming.

Dan Carmody, President of the Eastern Market Corporation said, "The Bank of America Neighborhood Builder Award allows us to implement two new programs that expand our work to strengthen Detroit's most entrepreneurial commercial district and to increase access to fresh produce throughout the City of Detroit."

Carmody went onto to say, "This generous grant will also help EMC to develop the leadership abilities of key staff as well as help enhance the performance of our non-profit

 

Focus: HOPE, a social justice organization in Detroit, will use the grant to support the development and growth of The HOPE Village Initiative, a place-based initiative targeted at increasing economic self-sufficiency, expanding educational opportunity, and improving the physical and social environment of the neighborhoods around Focus: HOPE. The grant will focus on four aspects of the Initiative: place making, housing revitalization, youth development and excellent early childhood education.

“We are honored and excited to receive one of the Neighborhood Builder Award from Bank of America,” said William F. Jones, Jr., CEO of Focus: HOPE. “It will enable us to make major advancements in our efforts to achieve permanent transformative change in the neighborhoods served by our HOPE Village Initiative.”

According to the Bridgespan Group, Neighborhood Builders is the largest investment in nonprofit leadership development, 2.5 times the next largest program (in spending) and the third largest in number of leaders served. Through the program, now in its 10th year, Bank of America has invested $160 million in 800 nonprofit organizations and provided training to 1,600 nonprofit leaders. Neighborhood Builders furthers the company’s broader philanthropic commitment to addressing core issues that are critical to the economic vitality of local economies, with a particular focus on low- and moderate-income communities.

Bank of America Corporate Social Responsibility 
Bank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. As part of these efforts, employee volunteers across the company contribute their time, passion and expertise to address issues in communities where they live and work. Learn more at www.bankofamerica.com/about and follow us on Twitter at @BofA_Community.