Bank of America announces nearly $175,000 in funding to nonprofits

Bank of America today announced $174,500 in grants to be distributed to 18 nonprofits working to increase access to affordable housing and support neighborhood revitalization in southern Connecticut. Securing stable housing continues to be a challenge in the state, where 35% of homeowners spend more than 30% of their income on housing.

Funding will help low and moderate income individuals and families in Connecticut who are affected by the lack of affordable housing access resources they need to lay a foundation for a stable financial life and in turn, drive economic growth in the southern Connecticut community.

“Addressing community development initiatives helps further establish Connecticut as a place where our residents are proud to live and work,” said Bill Tommins, Southern Connecticut market president, Bank of America. “We’re honored to partner with leading organizations like the Housing Development Fund that are working every day to tackle important issues in our community, such as affordable housing.”

Organizations like Habitat for Humanity of Coastal Fairfield County will use the funding to broaden their impact of community revitalization efforts in the region. The grants will allow for the development of affordable housing options and eliminate barriers blocking low and moderate income individuals and families in the state from living in safe and sufficient housing.

“Grants like this allow us to keep working towards our vision in which each resident has a comfortable and stable place to call home,” said Stuart Adelberg, CEO, Habitat for Humanity of Coastal Fairfield County. “We are grateful to Bank of America’s continued support, and look forward to further molding the Connecticut housing market to fit the community’s needs.”

Other organizations receiving grants include:

  • Beulah Land Development Corp.
  • Bridgeport Neighborhood Trust
  • Habitat for Humanity Coastal Fairfield County
  • Habitat for Humanity New Haven
  • Housatonic Habitat for Humanity
  • Housing Development Fund
  • LISC/Fairfield County Fund for Affordable Housing
  • Near and Far Aid
  • New Haven International Festival of Arts & Ideas
  • New Haven Symphony
  • New Neighborhoods
  • Neighborhood Housing Services of New Haven
  • Operation Hope of Fairfield
  • Palace Theater
  • Shubert Theatre
  • Stamford Center for the Arts
  • Westport Country Playhouse
  • Yale Repertory Theatre

Community revitalization is just one example of Bank of America’s commitment to responsible growth and shared success as it works to make the financial lives of individuals and families in Connecticut better. Philanthropic and volunteer investments play a key role in building thriving communities and encouraging local economic development.

About Bank of America Environmental, Social and Governance

At Bank of America, our focus on Environmental, Social and Governance (ESG) factors is critical to fulfilling our purpose of helping make people’s financial lives better. Our commitment to growing our business responsibly is embedded in every aspect of our company. It is demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our customers, and the impact we help create around the world in helping local economies thrive. An important part of this work is forming strong partnerships across sectors – including community and environmental advocate groups, as well as non-profits – in order to bring together our collective networks and expertise to achieve greater impact. Learn more at www.bankofamerica.com/about and connect with us on Twitter at @BofA_News.

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