Bank of America announced it has committed $13 million in funding to more than 100 Chicago-area nonprofit organizations working to drive economic opportunity for individuals and families in underserved Chicagoland communities.  This year, Bank of America partnered with nonprofits that are addressing key factors that contribute to economic inequality across the Chicagoland area, with targeted support to organizations supporting health, jobs, small business, and community development. Key nonprofit partners include the Obama Foundation, Harold Washington College, Chicago Community Loan Fund, and Chicago Community Trust, all of whom share a deep and unwavering commitment to improving the lives of Chicagoans and paving the way for the next generation.

This year’s grant recipients include the 2022 Bank of America Neighborhood Builders awardees for the Chicago market: Allies for Community Business and Skills for Chicagoland’s Future. Allies for Community Business provides capital, coaching, and connections to help individuals grow impactful businesses and build wealth. Skills for Chicagoland’s Future closes the workforce opportunity gap for Black and Brown Chicagoans by partnering with corporations to place individuals in good-paying jobs that provide a pathway toward economic security and mobility. As Neighborhood Builders, each organization receives $200,000 in flexible funding and one year of comprehensive leadership training for their executive director and an emerging leader. Since 2017, the Bank of America Charitable Foundation has provided $42 million in grants and matching gifts in the Chicago market, and the bank’s local teammates have recorded more than 216,000 volunteer hours.