FOR IMMEDIATE RELEASE
October 30, 2023
Media Release
MANA de San Diego and San Diego Habitat for Humanity Named Bank of America’s 2023 Neighborhood Builders®
Each nonprofit will receive $200,000 in flexible funding and leadership training to advance economic mobility in San Diego
San Diego, CA — Bank of America today announced MANA de San Diego and San Diego Habitat for Humanity as the 2023 Neighborhood Builders® awardees for their work advancing economic mobility and building up underserved neighborhoods in San Diego. Through this multi-year grant funding and extensive leadership training for the nonprofits’ leadership, programs and services addressing upward mobility for Latinas as well as San Diego’s affordable housing shortage will be able to expand and scale.
The Neighborhood Builders program is one of the largest philanthropic investments into nonprofit leadership development in the nation, providing comprehensive leadership training for an executive director and an emerging leader on topics ranging from increasing financial sustainability, human capital management and strategic storytelling, and the opportunity to join a national network of peer organizations. Each Builder is also awarded a $200,000 grant over two years.
“Nonprofits are vital to solving social challenges, improving communities and promoting economic advancement,” said Rick Bregman, president, Bank of America San Diego. “Providing these nonprofits with flexible funding and leadership training not only positions them for sustainable, long-term success, but demonstrates our commitment to creating real change in the places where we live and work.”
The San Diego region suffers from an acute housing shortage, and is one of the most expensive housing markets in the U.S. Award winner San Diego Habitat for Humanity is the only nonprofit in the San Diego region building and selling homes exclusively for buyers earning low incomes, serving as a developer, general contractor and mortgage lender. Habitat will use its grant dollars to increase its capacity to build larger, multifamily developments for rent to house more families, as well as to scale its internal infrastructure to increase partnerships with other master developers.
“As we gear up to tackle the vast challenges of affordable housing in our region, doing so effectively and at scale requires more sophisticated financing, building and partnership strategies – all of which will take resources and expertise to build,” said Kwofi Reed, President and CEO, San Diego Habitat for Humanity. “The Neighborhood Builders grant is exactly the type of strategic investment in our organization’s people and capacity, that will help make that happen. By investing in us today, Bank of America is making it possible for us to build more affordable homes, for more working San Diegans, securing their future for years to come.”
In San Diego, Latinos represent 34% of the overall population and more than 40% of K-12 students, yet roughly 17% of Latinos do not complete high school on time, if at all, and 85% do not have an undergraduate degree. Latinos are subsequently disproportionately represented in low-wage jobs, leaving them vulnerable to the myriad of correlated negative health and life outcomes.
MANA de San Diego is focused on upward mobility for Latinas and their families, providing middle and high school mentorship, college preparation, parent training, and leadership programs. MANA targets low-income Latina youth who strive to become first-generation college students and college graduates. The nonprofit will use its grant dollars toward increasing its programs’ reach and scale as it expands its grant-writing capabilities, invests in program processes and a formalized educational series for its members.
“The Bank of America Neighborhood Builders grant is a transformational, unrestricted investment that will help move our mission to help Latinas thrive in San Diego. When Latinas succeed, their families and the entire region also benefits,” said Inez Gonzalez Perezchica, Executive Director, MANA de San Diego. “This investment comes at a perfect time, as we just completed our bold strategic 5-year plan focused on impact, growth, and sustainability. ”
The Neighborhood Builders invitation-only program is highly competitive. Nonprofits are selected by a committee comprised of community leaders and past Builders awardees. Thirty-two nonprofits have been selected as Neighborhood Builders in San Diego since the program’s inception in 2004, with the bank investing more than $6 million into these local nonprofits.
Since 2004, the Neighborhood Builders program has also helped more than 3,000 nonprofit leaders nationwide strengthen their leadership skills to take their organizations the the next levels for greater impact.
Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
About San Diego Habitat for Humanity
People in our community partner with San Diego Habitat for Humanity to build or improve a place they can call home. Habitat homeowners build their homes alongside volunteers and pay an affordable mortgage. With our help, Habitat homeowners achieve the strength, stability, and independence they need to build a better life for themselves and their families.
Habitat for Humanity exists through volunteer labor and contributions of money, land, and materials. For more information, visit www.sandiegohabitat.org or call 619-283-HOME (4663).
###
