On Nov. 9, Bank of America celebrated its annual “Day of Giving,” connecting more than 100 employees with the bank’s community partners to volunteer with organizations helping to advance economic mobility and racial equality in Detroit. The day also includes a small business roundtable, a luncheon with bank teammates and partners and a special “GIVE” celebration event.
In 2023, the Bank of America Charitable Foundation Detroit Market awarded more than $4.4 million in community giving grants to 74 Metro Detroit area nonprofits.
This year, Bank of America Corporation contributed more than $6.3 million in Michigan through grants, investments, sponsorships and engagements.
These partnerships focus on ensuring individuals and families in Michigan have access to tools and resources improving economic mobility and essential services such as emergency shelter, affordable housing, access to food and financial education.
Thousands of volunteer hours
Additionally, Bank of America employee volunteers spent more than 21,000 hours helping to strengthen local nonprofit partners.
“Our trusted community partners help businesses, individuals and families forge a path toward economic opportunity and stability,” said Matt Elliott, President, Bank of America Michigan.
“Through our volunteers and grants, Bank of America is proud to stand with them to improve financial lives and the support people and programs devoted to building strong communities and neighborhoods in Detroit and throughout Michigan.”
Detroit Rescue Mission Ministries and Black Leaders Detroit are Detroit’s 2023 Neighborhood Builders. Each organization will receive $200,000 in flexible funding, as well as comprehensive leadership training for their leadership teams that will cover topics ranging from increasing financial sustainability, human capital management and strategic storytelling.
They also will join a network of peer organizations across the U.S. and get the opportunity to access capital to expand their impact.
The Detroit Rescue Mission Ministries (DRMM) is a faith-based nonprofit organization which has spent over 100 years of continued service providing food, shelter and services to intervene where homelessness and substance addiction occur.
They will use the grant to offer a café and smoothie bar in midtown Detroit and a free grocery store at its banquet hall located on the east side of Detroit.
“We are deeply humbled and grateful to have received the Bank of America Neighborhood Builder award,” said Chad Audi, President and CEO of Detroit Rescue Mission Ministries.
“This honor not only acknowledges our previous efforts, but also fuels our commitment to sustainability and creativity as we embark on a new adventure. We are working together to create a future that is both impactful and long-lasting.”
Established in 2019, Black Leaders Detroit (BLD) provides funding for Black entrepreneurs in the city of Detroit. They plan to use the grant for general operating support and for no-interest loans for Black entrepreneurs in Detroit.”