Bank of America’s Neighborhood Builders Program is one of the largest philanthropic investments in nonprofit leadership development in the country, spanning urban, suburban, and rural communities. The program started 19 years ago, and in that time, the bank has invested $300 million into 92 communities and partnered with more than 1,500 nonprofits across the U.S.
“Ever since I joined Bank of America 16 years ago, Neighborhood Builders has been my favorite event to attend every year because it brings the humanity of working for a bank to the forefront. I think ultimately it represents opportunity,” says Scott Vanderpool, President of Bank of America in Phoenix.
Each year, the bank awards a $200,000 unrestricted grant to two nonprofits in various markets across the country. This year, in Phoenix, All In Education and Arizona Friends of Foster Children Foundation were awarded the grants; because the grant is unrestricted over two years, it allows the nonprofits to spend the money on initiatives they feel will make the most immediate impact in their communities.
Vanderpool says that while they carefully examine the organization’s programs, they do not require them to show outcomes with the funds they receive from Bank of America’s Neighborhood Builders Program.
“We look at the leadership, look at the board composition, we look at the mission, we look at the problem you’re trying to solve within the Phoenix community, and then we give you the dollars and hopefully a little bit of leadership training to make that happen,” Vanderpool tells STN.
Vanderpool says Bank of America is very intentional when they award the Neighborhood Builders Grant to organizations. They select businesses that are on to something, the organizations and nonprofits that will take this money and amplify their work in the community. “Past recipients have often told us that they received the Neighborhood Builders Award at the perfect time in their organization’s development,” says Vanderpool.
To find out how to apply for Bank of America’s Neighborhood Builders Program visit their website.
