The local nonprofit Community Empowerment Fund (CEF) received a $200,000 grant from Bank of America on Thursday.
The award is a part of the 2022 Bank of America Neighborhood Builders program, which says has invested more than $280 million in 50 communities and partnered with more than 1,400 nonprofits since its creation.
CEF will receive its grant over two years. The Chapel Hill-based nonprofit will also receive comprehensive leadership training for their executive director on topics ranging from increasing financial sustainability, human capital management and strategic storytelling.
CEF’s mission is to end the racial wealth gap and uplift Black and Brown communities, with its membership exceeding 3,000 members.
“Community Empowerment Fund is thrilled to be selected as a Neighborhood Builder this year,” said Donna Carrington, CEF’s Executive Director. “CEF Members have been experiencing particularly difficult times as housing costs in the Triangle have soared while the minimum wage remains at $7.25/hour.”
Carrington added support from Bank of America ensures CEF’s ability to continue to cultivate opportunities, assets and communities that sustain transitions out of homelessness and poverty.
“We appreciate the bank’s willingness to work with us to reduce the racial wealth gap and ensure that everyone in our community has the opportunity to thrive,” Carrington said.
11 nonprofits have been selected as Neighborhood Builders in the Triangle since 2016. Bank of America has invested $2.2 million into these local organizations. The program is invitation-only and highly competitive. Bank of America says organizations are selected by a committee of community leaders and past Neighborhood Builders honorees.
Wake County’s Passage Home also received a $200,000 grant on Thursday. Passage Home is the county government’s Community Action Agency and anti-poverty organization.
Photo via Bank of America.
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