Bank of America announced it has awarded $160,000 in grants to 11 nonprofit organizations across Iowa.
These grants aim to foster meaningful and sustainable progress in addressing some of society’s most pressing challenges, according to a release. The first round of economic mobility grants target local nonprofits dedicated to improving the lives of individuals and families by investing in health and employment opportunities.
Iowa’s labor market is currently facing a significant challenge, with more job openings than the available workforce can fill. According to the Iowa Department of Workforce Development, there are currently over 56,000 job vacancies.
Access to quality education, stable housing, and skills development is essential to support Iowa’s economic growth and workforce success, the financial institution said, and is focusing on supporting various workforce development initiatives, including education and upskilling and reskilling programs, to help individuals and families achieve stability and advancement.
“Partnering with Iowa nonprofit organizations to address crucial issues such as family stabilization, youth development programs, and workforce empowerment is a part of our commitment to creating real change in Iowa,” said Heidi Parkhurst, president of Bank of America Iowa. “Investing in Iowa’s nonprofits demonstrates how Bank of America is taking action to provide the resources and support needed to help build thriving communities long-term.”
One of the grant recipients, Oakridge Neighborhood Services, which has supported the housing and human service needs of over 110,000 individuals since 1969, will use the funds to enhance its summer youth employment programs. Another recipient, Women Lead Change, focuses on the development and empowerment of female leaders and will use its grant to continue offering comprehensive leadership resources and training to advance women in the workforce.
Other beneficiaries of the grants include Ballet Theater of Des Moines, By Degrees Foundation, Food Bank of Iowa, Iowa Health System, Iowa Healthiest State Initiative, Junior Achievement of Central Iowa, River Bend Food Bank, Urban Dreams, and Waypoint Services.
These grants build on the $3.5 million that Bank of America has invested in Iowa organizations since 2018.
