By Wendy Stewart, Atlanta Market President for Financial institution of America
Whereas 2020 has been a 12 months we are going to always remember — from a worldwide pandemic devastating communities all over the place, to the battle towards racial inequities reaching unprecedented heights —the basic significance of entry to financial mobility stays a vital focus in Atlanta. However what’s financial mobility? In essence, it’s the capability to enhance one’s financial standing, normally measured in revenue. Look extra intently and you will note that financial mobility is central to just about each side of life, from bigger milestones like dwelling shopping for and retirement, to extra speedy wants, together with training and dependable well being care.
Advancing financial mobility amongst Atlantans has been and will probably be a communal effort; we should create sustainable jobs, revitalize our neighborhoods and, most significantly, acknowledge that our biggest useful resource is the untapped potential of every particular person who lives and works in our metropolis.
At Financial institution of America, we’re dedicated to advancing financial and social progress by means of neighborhood investments that target workforce improvement, well being, primary wants, small enterprise assist, and inexpensive housing and neighborhood revitalizations. A method we assist bolster thriving communities is thru our Neighborhood Builders® program.
Neighborhood Builders® is Financial institution of America’s signature philanthropic program that advances financial mobility and nonprofit management. It creates extra sustainable communities by offering nonprofits with instruments to develop stronger strategic plans, chart a succession plan and improve funding alternatives.
Earlier this month, Atlanta BeltLine Partnership (ABP) and Russell Heart for Innovation and Entrepreneurship (RCIE) had been named because the 2020 Financial institution of America Neighborhood Builders® awardees for Atlanta. The nonprofits had been chosen for his or her work in making certain alternatives are inside attain for all Atlantans, particularly inexpensive housing and job creation.
As an awardee, every group receives a $200,000 grant, a 12 months of management coaching for the manager director and an rising chief, a community of peer organizations throughout the U.S., and the chance to entry capital to broaden their impression. Since 2004, by means of its Neighborhood Builders® program, Financial institution of America has partnered with 34 nonprofits in Atlanta, investing $6.8 million to supply monetary training and financial mobility alternatives within the area. Neighborhood Builders® is only one instance of how Financial institution of America deploys capital in communities, builds cross-sector partnerships, and promotes socioeconomic progress as a part of its method to accountable development.
There’s little doubt 2020 will go down as some of the difficult years in current reminiscence. A pandemic has taken its toll on the well being, economic system, and social fiber of our neighborhood, and plenty of households and people have misplaced family members and are discovering themselves at extra of a drawback than ever earlier than.
Nevertheless, as public, personal and nonprofit organizations work to deal with financial mobility, we’ve the chance to create significant change right here. Working collectively, we will guarantee the trail to success is open to all.