Monterey, Calif. – Bank of America recently announced its first round of grants totaling more than $198,500 to 11 Monterey and Santa Cruz County nonprofits focused on improving the lives of individuals and families through education, career pathways, and basic needs in under-resourced communities. 

Economic growth is directly correlated to a community’s access to quality education, skills training, and employment opportunities. Yet, according to recent U.S. census data, only 27.5% of people in Monterey County have a bachelor’s degree or higher form of education. To help close this education gap, Bank of America supports a range of educational and workforce development opportunities, including upskilling and reskilling programs and workforce readiness programs. with Hartnell College, Rancho Cielo, and Digital NEST. 

The first round of grantees include: 

• Foodbank for Monterey County for its emergency supplemental food assistance program 

• Goodwill Central Coast to help fund a resource specialist for its homelessness assistance program 

• Hartnell College Foundation for housing stability resources for students 

• Boys & Girls Club of Monterey County for its College and Career Readiness program for 6th-12th grade students 

• Second Harvest Santa Cruz County for food resources for Pajaro Valley 

• Santa Cruz County Office of Education for its Work 4 Youth summer youth employment program 

• Monterey Peninsula College for its student internship program 

• Rancho Cielo for its vocational training program 

• Natividad Medical Foundation to provide essential basic needs to homeless and at-risk patients 

• Seneca Family of Agencies to train temporary caregivers for foster-involved youth 

• Monterey Jazz Festival for its music classes for middle and high school students 

“Partnering with impactful local organizations to address barriers to success such as hunger, health, and job skills is part of our commitment to creating real change in Monterey County and surrounding areas,” said Jennifer Dacquisto, president, Monterey Bay. “As demand for nonprofit services continues to rise, we believe that the private sector can play a role in helping meet that demand.” 

These grants build on the $2.2 million Bank of America provided to Monterey County organizations since 2019 and are part of the bank’s longstanding commitment to supporting economic opportunity. In addition to grants, Bank of America employee volunteerism continues to be an important and valuable contribution to local nonprofits, with Monterey area employees logging more than 11,000 volunteer hours with community causes since 2019. 

Additional background about Bank of America’s Charitable Foundation giving can be found here.

 About 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 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines), 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 is listed on the New York Stock Exchange (NYSE: BAC). 

Reporters May Contact:
Colleen Haggerty, Bank of America
213-621-7414
Colleen.Haggerty@bofa.com