October 28, 2022
Bank of America Names YWCA Utah and Community Development Corporation of Utah 2022 Neighborhood Builders®
Program Provides $200,000 in Flexible Funding to Each Organization and Leadership Development Training to Advance Economic Mobility in Northern Utah
SALT LAKE CITY, UTAH – Programs and services that are addressing Northern Utah’s financial and housing insecurity and safety issues for women will expand, helping more people chart a path toward economic opportunity with help from a multi-year grant from Bank of America. The Community Development Corporation (CDCU) of Utah and YWCA Utah have been named as the 2022 Bank of America Neighborhood Builders® awardees for their work in the Northern Utah community removing economic barriers and advancing greater economic mobility.
Each organization receives a $200,000 grant over two years, comprehensive leadership training for the executive director and an emerging leader on topics ranging from increasing financial sustainability, human capital management and strategic storytelling, joins a network of peer organizations across the U.S., and gets the opportunity to access capital to expand their impact. The program continues to be the nation’s largest investment into nonprofit leadership development,” said Mori Paulsen, president, Bank of America Utah.
“Nonprofits provide individuals and families safety net systems as they work to understand the obstacles many are experiencing and develop programs and services that will help alleviate or eliminate these barriers, helping them chart a path toward economic opportunity,” said Mori Paulsen, president, Bank of America Utah. “It’s important that we direct resources and training to help position these nonprofits and their leadership teams for long-term success as they grow strategically and make a positive impact.”
The Community Development Corporation of Utah is dedicated to helping families achieve financial and housing stability through homeownership and cost-effective rentals. They will use their grant funding to provide personalized counseling and budgeting assistance to Utah households that are struggling financially as they chart a path toward purchasing their home.
“We are deeply appreciative of the partnership with Bank of America and of their continued investment in our communities,” said Mike Akerlow, CEO, Community Development Corporation of Utah. “We know that our program has helped thousands of households become financially stable and with Bank of America’s support we will be able to expand our impact.”
YWCA Utah works hard to fulfill its mission to eliminate racism, empower women, and promote peace, justice, freedom and dignity for all. YWCA Utah will use their grant funding to offer critical services through the provision of emergency shelter and transitional housing to survivors of domestic violence who show up to their doors seeking safety, sanctuary, and support.
“We are extremely honored to be selected as a recipient of the Neighborhood Builders Award,” said Liz Owens, CEO of YWCA Utah. “We look forward to continue building upon the YWCA Utah’s legacy of serving survivors in the community. Our services ensure that survivors of domestic violence have access
to critical, life-saving, culturally competent and trauma-informed care. We want to become a model organization where anti-racism, gender equity, and safety are at the core of all of services and are pillars of our organizational culture.”
In Utah, six nonprofits have been selected as Neighborhood Builders since 2020, with the bank investing $1.2 million into these local organizations.
The invitation-only program is highly competitive, and organizations are selected by a committee comprised of community leaders and past Neighborhood Builders honorees.
Since 2004, through its Neighborhood Builders® and Neighborhood Champions programs, Bank of America has invested more than $300 million in 92 communities across the nation, partnered with more than 1,500 nonprofits, and helped more than 3,000 nonprofit leaders strengthen their leadership skills. This is one of the bank’s longest running philanthropic programs, as well as one of the largest philanthropic investments by the bank since the program’s inception. Neighborhood Builders is just one example of how Bank of America deploys capital in communities, builds cross-sector partnerships, and promotes socioeconomic progress as part of its approach to responsible growth.