BofA invests $255K into Pittsburgh nonprofits

PITTSBURGH—The

New Pittsburgh Courier has learned that Bank of America announced on July 19, $255,000 in grants to 10 Pittsburgh area nonprofit organizations to drive meaningful and sustainable progress to help tackle society’s biggest challenges. This is the first of two rounds of grants the company awards annually to local nonprofits throughout the year. These investments focus on health and jobs by addressing the economic and social conditions that influence family stability, health and food access, as well as building pathways to employment designed to pull people away from poverty and towards economic mobility. Funding will mainly support workforce development and job reskilling.

In May, as part of President Biden’s Investing In America Agenda, Pittsburgh was selected as one of five Workforce Hubs, receiving a Build Back Better Regional Challenge grant. Chosen for being known as an innovation hub for industries like robotics, biomanufacturing and clean energy, as well as its top universities, Pittsburgh has become a popular location for companies and organizations in these industries looking for strong local talent.

According to John Ciccolella, president, Bank of America Pittsburgh, access to quality education and skills training is critical for driving Pittsburgh’s economic growth. That’s why the bank is focused on supporting a range of workforce development opportunities, including student support, youth and adult upskilling and reskilling programs, and post-secondary institutions to help vulnerable individuals and families stabilize and advance.

One of the local organizations receiving a grant is Partner4Work. Bank of America’s $60,000 grant to Partner4Work will provide funding for the City of Pittsburgh’s Learn and Earn summer youth employment program aiming to provide paid work experience to low-income individuals between the ages of 14 and 24.

“Partnering with Pittsburgh nonprofit organizations to address issues like youth workforce development and employment is part of our approach to fostering economic mobility and equitable progress,” said Ciccolella. “These investments demonstrate how we are taking action to provide the Pittsburgh community the essential resources and support needed to help people succeed in today’s economy and prepare for a successful future.”

Other organizations receiving grants include:

* Auberle

* Big Brothers Big Sisters of Greater Pittsburgh

* Big Brothers Big Sisters of the Laurel Region

* Catholic Charities of Pittsburgh

* Café Momentum

* Family House

* LandforcePgh

* The Challenge Program

* UPMC Children’s Hospital of Pittsburgh there is more to the story.

These grants build on the over $9M in funding Bank of America has provided to local Pittsburgh organizations since entering the market in 2018 and are part of the company’s commitment to delivering responsible growth to improve the financial lives of individuals, families, and entire communities. Philanthropic and volunteer investments continue to play a key role in this effort to build thriving communities. In addition to the funding provided by grants, local Pittsburgh Bank of America employees have contributed over $800,000 to local nonprofits, as well as have spent over 25,000 hours volunteering in their communities.

Historic economic inequalities have left Black Americans facing lower income levels and limited opportunities for wealth accumulation. The lottery’s promise of hitting the jackpot and attaining immediate financial relief holds a particular allure for those grappling with economic hardships. It becomes a beacon of hope, offering a potential ticket out of financial struggles.

Also, state lotteries employ savvy marketing tactics, including targeted strategies aimed at appealing to specific demographics, such as Blacks. These campaigns can resonate with the community, increasing awareness and drawing more people to participate in the lottery. The advertisements often highlight the potential life-changing opportunities the lottery presents, which can strike a chord with those seeking a chance to improve their circumstances.

In certain Black communities, playing the lottery has transcended being just a game; it has become a part of the culture. People come together, hoping for that big win, sharing the excitement of the draw and envisioning what they would do with the money. This communal aspect fosters a sense of camaraderie and optimism, creating an emotional connection to the game beyond the financial aspect. Although the lottery can bring happiness to fortunate winners and contribute to funding public programs, it is crucial to acknowledge and examine the potential drawbacks and effects it may have on Black communities. The lottery frequently faces criticism for its regressive nature, which means it disproportionately impacts lower-income individuals. In Black communities, where economic disparities are prevalent, the financial strain caused by lottery spending can be even more pronounced. For some individuals, the thrill of the lottery can lead to gambling addiction, a serious issue that affects people across all racial and ethnic backgrounds. In communities already facing economic challenges, gambling addiction can exacerbate financial hardships and strain relationships. The allure of the lottery and other forms of gambling may be more enticing for individuals living in poverty or experiencing financial hardship. The promise of a life-changing win can create a glimmer of hope in otherwise difficult circumstances, but it often results in an even deeper cycle of financial struggle.

The revenue generated from lotteries is intended to support public programs, primarily education. However, in some cases, the distribution of these funds may not adequately address the specific needs of Black communities, leading to potential disparities in resource allocation.

The lottery’s appeal to Blacks is a result of a complex interplay of historical, social and economic factors. While it offers a glimmer of hope and the potential for immediate financial betterment, it also raises red flags about the regressive effects of gambling and its impact on vulnerable communities. Policymakers and communities must handle these concerns with care, ensuring responsible use of lottery revenue and providing support for those grappling with gambling addiction. Moreover, addressing economic disparities requires a comprehensive approach to ensure equitable opportunities and financial stability for all Americans, irrespective of their racial or ethnic background.