Bank of America has announced Impact Ventures and Tarrant To & Through (T3) Partnership as the 2023 Neighborhood Builders® awardees for their work advancing economic mobility and building up underserved neighborhoods in DFW. Through this multi-year grant funding and extensive leadership training for the nonprofits’ leadership, programs and services addressing barriers to entrepreneurship and student access to career pathways will be able to expand.
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.
“We are fortunate to live in North Texas, where the environment is opportune for small business growth, but we know more needs to be done to open doors to capital access for underrepresented entrepreneurs to cultivate a diverse, vibrant small business community and advance economic mobility in our region,” said Jennifer Chandler, president, Bank of America Dallas. “At Bank of America, we are deeply committed to uplifting small businesses and identifying opportunities to connect our resources to organizations making a difference. Impact Ventures sparks this inspiration through its holistic approach to align capital with impact and create more equitable economic systems.”
Impact Ventures is closing the wealth divide, promoting workforce development and creating a more equitable economy by building ecosystems to accelerate growth of women and BIPOC entrepreneurs. This new grant funding will directly support building capacity for Impact Ventures’ Inclusive Capital Fund, an integrated capital fund leveraging public, private and community capital to finance small business, real estate and infrastructure projects among underserved communities in Dallas.
“Impact Ventures is honored to receive the Neighborhood Builder award. The generous support and recognition by Bank of America across programs and events has brought validation to our work and serves as a catalyst for greater partnerships and collaborations between us. In the past year, we’ve had the privilege of directly serving hundreds entrepreneurs through our accelerator and community-building events, which bring valuable networking and education to our communities. With the support of Bank of America, we can continue the impact with even greater reach starting right here in our neighborhood and extending across America,” said Benjamin Vann, founder and CEO of Impact Ventures.
“Our region has experienced unprecedented growth over the last few years and it is imperative we do all we can to ensure we are equipped to respond to increased demands. Essential to this is investing in the nonprofit organizations that are addressing our most pressing challenges, like workforce development and education access, and promoting economic advancement,” said Mike Pavell, president, Bank of America Fort Worth. “Through the work of the T3 Partnership, students across Tarrant County will be better informed about their educational and career pathways and will be entering the real world with the qualifications they need to secure immediate, in-demand careers. That is a mission Bank of America stands beside as we deliver on our commitment to creating real change in the places where we live and work.”
T3 Partnership is bridging the employment skills gap and ensuring Tarrant County students are graduating with the credentials and training needed to meet local workforce demands. This grant funding and leadership training will amplify T3’s impact and scale its program model, allowing them to connect with more parents and families to support them in finding pathways to career credentials and opportunities.
“This commitment from Band of America rings true to our shared goal to build strong communities. The Neighborhood Builders grant will allow us to scale our program model to individual school districts as we expand and further develop strategies to support organizational growth,” said Natalie Young Williams, Executive Director of T3 Partnership. “Founded in 2019 and enduring through the pandemic, T3 is in a growth stage. Intentional leadership development will be crucial as we move our organization into maturity, sustaining long-term success and scaling our impact.”
The invitation-only program is highly competitive. Nonprofits are selected by a committee comprised of community leaders and past Builders awardees. Fifty-seven nonprofits have been selected as Neighborhood Builders in DFW since 2004, with the bank investing $11.4 million into these local nonprofits.
Since 2004, Bank of America has invested more than $300 million in nearly 100 communities across the U.S., partnered with more than 1,600 nonprofits, and helped more than 3,000 nonprofit leaders strengthen their leadership skills through the Neighborhood Builders and Champions program.
source: press release