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Bank of America Invests $155k to Support Economic Mobility in Sarasota & Manatee

22 May 2018 1:25 PM | Amy Treis (Administrator)

SARASOTA, Fla. – Bank of America distributed $155,000 in economic mobility grants in 4 ½-hours to 14 Sarasota-Manatee nonprofits that will advance economic mobility for individuals and families and put them on a path toward success. The grants focus on needs related to workforce development and education that help individuals chart a path to better economic futures as well as basic needs fundamental to building stability.  

Sarasota-Manatee County reports that 75 percent of its population live in "food deserts," areas where residents do not have easy access to fresh, affordable foods. Forty-three percent of households do not have sufficient income to afford basic needs including food, shelter and medical care. Hunger relief in Sarasota-Manatee continues to be a pressing need for low-income individuals and families relying on local food banks in order to meet their needs.

The nonprofits receiving funding are connecting youth to first-time jobs, giving young adults alternative pathways to employment and providing second chances to individuals with barriers to help them rebuild careers and lives. This work aligns with Bank of America’s commitment to help build a diverse Sarasota-Manatee workforce, providing skilled workers to organizations while creating economic opportunity. Additionally, funding will help individuals and families in Sarasota-Manatee chart a path toward greater economic mobility through access to food, shelter, benefits and other fundamental needs.

“We recognize that addressing immediate basic needs as well as connecting individuals to long-term success through skills-building and jobs are critical to achieving greater economic mobility in our community,” said Mike McCoy, Bank of America Sarasota-Manatee market president. “We’re honored to partner with nonprofit organizations like Meals on Wheels and Boys and Girls Clubs from across Southwest Florida that are helping to build a more inclusive and sustainable community.”

All Faiths Food Bank will use the funding to help those at risk of hunger through their Mobile Pantry program, which distributes food directly to those in need at 17 locations throughout Sarasota and DeSoto counties. With the help of volunteers, Mobile Pantries distribute fresh produce, meats and groceries to people of all ages. The pantries often serve as many as 300 households in less than 2 hours.

“Our partnership with Bank of America allows the food bank to deliver food, fresh produce and nutrition through our Mobile Pantries to those living in food deserts,” said CEO of All Faiths Food Bank, Sandra Frank. “Together with our partners and volunteers, we are able to grow our impact in the community and lay a foundation for the individuals and families who struggle to access the food they need to thrive.”

Other organizations receiving grants include: Boys & Girls Clubs of Manatee and of Sarasota; CareerEdge; Education Foundation Sarasota; Harvest House; Meals on Wheels Manatee and Sarasota; Salvation Army; The Haven; Take Stock in Children; Turning Points; Unidosnow; and Women’s Resource Center.

These grants are part of the company’s commitment to responsible growth as it works to improve the financial lives of individuals and families.  Philanthropic and volunteer investments play a key role in this effort to build thriving communities. Sarasota-Manatee Bank of America teammates have volunteered of 1,800 hours in the first quarter of this year.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom. Click here to register for news email alerts.

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