Economic Mobility Focused on Needs of Community (Community Development & Small Business Resiliency)

Economic Mobility Focused on Needs of Community (Community Development & Small Business Resiliency) is sponsored by Bank of America Charitable Foundation. This Request for Proposals (RFP) focuses on economic mobility, racial equality, and social progress within low- and moderate-income communities.

At Bank of America, we’re guided by a common purpose to help make financial lives better. Through our focus on**Responsible Growth**, we deliver for our teammates, clients and shareholders, while addressing economic mobility, racial equality and social progress focused on the needs of the community.

We drive meaningful and sustainable progress to help address society’s biggest challenges by aligning all of our resources – including our financing, our client products and services, our philanthropy and how we manage our own activities. As part of this work, we develop strong partnerships with nonprofit organizations focused on issues fundamental to economic mobility in low- and moderate-income communities.

We focus on improving the lives of individuals and families by investing in health, jobs, and strengthening broader community vitality by addressing needs related to small business resiliency, and community development.

Through our partnerships, we support vulnerable populations, including working families, youth, seniors, individuals living with disabilities, veterans, and those impacted by the criminal justice system – enabling them to move forward in their goals.

**Request for Proposals: Economic Mobility Focused on Needs of Community (Community Development & Small Business Resiliency)** – Applications accepted May 29–June 23, 2023 * **Affordable Housing:**The current environment has underscored the importance of safe, decent housing for an individual’s overall well-being, including health, educational success and future employment opportunities.

Yet for many, access to affordable housing has become further out of reach while others struggle with the possibility of eviction, foreclosure and homelessness.

That’s why we support the efforts of organizations working to preserve, and increase access to a mix of affordable housing options as well as other essential assistance (housing development, minority home ownership programs, pathways to stable housing or home ownership, sustainable development, etc) * **Neighborhood Revitalization:**Vibrant communities are places where individuals can thrive and succeed and have the opportunity to live and work with safe, decent housing, transportation to jobs, strong business corridors and thriving arts and culture districts.

We support local and regional revitalization efforts, taking a holistic approach to building inclusive communities, creating economic opportunity and livable neighborhoods (revitalization, preservation, and stabilization; transit-oriented development; community arts and cultural institutions; resiliency of communities; environmental efforts; supporting organizations and initiatives that bring energy efficiency, etc).

* **Small Business Resiliency:**Small Businesses help drive economic mobility and generational wealth and play an important role in the overall health of our nation’s economy.

In response to the challenges small business owners face we’re supporting nonprofits assisting under-resourced entrepreneurs including minority and minority business owners, as they address their short-term needs and help them grow and scale (technical assistance, operational capacity, supporting organizations assisting minority-owned small businesses, creating business incubators and accelerators, economic development, etc).

To be considered for a local grant, your organization: * Must be tax-exempt under section 501(c)(3) of the Internal Revenue Code and not classified as a private foundation * Must be based and serve communities inthese markets (includes **Greater Boston** and **Worcester** in Massachusetts) * Must be aligned with our funding priorities of community development, health, jobs and small business resiliency.