As part of its longstanding commitment to supporting economic opportunity and local communities, Bank of America has invested $7 million across 65 Atlanta area nonprofits this year through philanthropic grants, loans, sponsorships, etc. The support is helping Atlanta thrive with a particular focus on health, workforce development, affordable housing and small business. 

For instance, the bank provided a grant to The Russell Innovation Center for Entrepreneurs (RICE) that will support RICE programming designed to support Black entrepreneurs. Big IDEAS is RICE’s signature learning platform, serving entrepreneurs from start up through scale up. The learning platform guides each entrepreneur as they develop their action plan for creating a sustainable business—step by step, from ideation, through execution, to scale. Entrepreneurs enter at the stage appropriate for them and progress at their own pace. Along the way, they are supported by a team of subject matter experts and a faculty focused on making mastery and excellence the default. In addition to group learning sessions, the learning platform features unique hands-on experiences and holistic, community-driven development. 

This year, the bank provided a grant to Grove Park Foundation to create the Grove Park Performing and Cultural Arts Center by renovating the historic Grove Theatre on Donald Lee Hollowell Parkway. The new Grove Park Performing and Cultural Arts Center, will create an accessible marketplace for small businesses and house community and cultural programming. The 10,000-square-foot facility will feature performance and studio space for arts and culture partners, office space, and a café/vending space.

In addition to philanthropic capital, our employees have volunteered over 55,880 hours with 52% of our teammates participating.

Bank of America also named The Literacy Lab and The YWCA of Greater Atlanta as the 2023 Neighborhood Builders® awardees to each receive a $200,000 grant for their work advancing economic mobility and building up underserved neighborhoods in Atlanta. Through this multi-year grant funding and extensive leadership training for the nonprofits’ leadership, programs and services addressing workforce development and job skills training will be able to expand 

“Nonprofit organizations understand the needs and obstacles Atlanta faces, uniquely positioning them to develop the solutions and services needed promote economic opportunity,” said Al McRae, president, Bank of America Atlanta. “Bank of America will continue to deploy capital and resources to tackle the barriers embedded within our community and create real impact in the lives of the Atlanta individuals and families we serve.”

This year’s efforts reflect the bank’s commitment to addressing critical issues and long-term gaps by partnering with local leaders and organizations to support diverse and women entrepreneurs, build job skills, support basic needs and create opportunities to help people succeed today and in the future.