Bank of America is standing on its commitment to uplift and support the Black community.

According to a press release, the financial institution has announced its move of $22 million in philanthropic funding that will support education, entrepreneurship, health and housing, and jobs for people and communities of color.

This initiative continues to deliver on its $1 billion, four-year commitment to advance economic opportunity and racial equality. The grants will build on its $250 million in philanthropic funding the company allocates annually to nonprofit partners that will address critical needs in the communities that they serve.

“Workforce development, job creation, and access to health and housing services are some of the most pressing needs facing Black, Hispanic-Latino and Native American individuals,” said Ebony Thomas, Bank of America’s Racial Equality and Economic Opportunity Executive in a news release. “By providing this support alongside our national and local partners, we are further addressing many of the challenges facing under-resourced and underserved communities across the U.S.”


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Grants include $18.5 million for higher education and workforce development, $1.3 million for minority-owned small businesses and minority and indigenous entrepreneurs, and $2.55 million toward health and emergency needs.

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