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LAS VEGAS, NV – As part of its commitment to responsible growth, Bank of America has contributed a total of $1.6 million across Las Vegas in 2022 through investments that helped strengthen the local economy. The support is helping to drive economic mobility and social progress, with a focus on improving vulnerable community members’ access to basic needs like food and affordable housing.
For instance, Three Square Food Bank experienced a greater need as the rising cost of goods, record high gas prices and expiring pandemic benefits have strained community members With one in seven individuals facing food insecurity, the organization received grants from Bank of America to provide 300,000 meals to those in need across Las Vegas.
With the state of Nevada ranking last in the nation when it comes to affordable housing availability for extremely low-income households, investments made by Bank of America to organizations like Habitat for Humanity helped revitalize and stabilize neighborhoods through their Homeownership Program. The program builds single-family homes throughout Clark County for working families earning less than 80% of the area median income. The grant from Bank of America helped cover project materials and infrastructure costs for the construction of a home for a family in need.
In addition to philanthropic capital, the company also contributed 15,000 volunteer hours from 786 employees, averaging 19 hours per employee. Employees also donated $109,000 individually, which the company matched for a total of $218,000 in employee giving.
“Nonprofits are on the front lines of addressing complex societal challenges – understanding the needs and obstacles Las Vegas faces, while developing the solutions and services to promote economic advancement,” said Al Welch, president, Bank of America Las Vegas. “As Las Vegas individuals and families continue to work toward a better future, Bank of America will continue to deploy capital and resources to help remove barriers to economic success and build a more sustainable community.”
This year’s efforts reflect the bank’s commitment to addressing critical issues and long-term gaps by partnering with local leaders and organizations to support diverse and women entrepreneurs, build job skills, support basic needs and create opportunities to help people succeed today and in the future.