The Latino Economic Development Center (LEDC) led by Henry Jiménez, and Repowered (formerly known as Tech Dump), led by Amanda LaGrange, have been named as the 2022 Bank of America Neighborhood Builders®awardees for their work in the Twin Cities removing economic barriers, advancing economic opportunity, and building generational wealth.
Bank of America will provide each organization with an unrestricted $200,000 grant to fund programming and operations as well as leadership training for the executive director and an emerging leader to help build capacity within the organization.
“LEDC and Repowered have a deep understanding of the obstacles many of our community members are experiencing,” said Lucas Giambelluca, president, Bank of America Twin Cities. “They are on the ground working closely with individuals, families, entrepreneurs and the community to deliver programs and services that move us toward a more inclusive economy and remove barriers to opportunity. It’s important that we direct capital, training, and other resources to help position these nonprofits and their leaders for long-term success and resilience as they grow.”
LEDC’s mission is to transform communities by creating economic opportunities for Latinos. LEDC provides a continuum of small business development services, including one-on-one technical assistance and access to capital as a Community Development Financial Institution, to help Latinos and other BIPOC entrepreneurs build wealth. LEDC plans to use this grant to invest in operational efficiencies and infrastructure that will help to elevate and expand the impact their programs have on the Latino small business community. The grant will also be used to invest in capacity building and professional development programming for the predominantly Latino staff to ensure that their team remains responsive and nimble, ready to adapt and evolve to meet the changing needs of clients and employees.
“The Bank of America Neighborhood Builders award is a commitment and investment in us as much as we have been committed and invested in our community. Our leadership and skillsets will grow and so will our impact in the work we do with our community,” said Henry Jiménez, LEDC executive director.
Repowered provides jobs and training for formerly incarcerated individuals at its St. Paul electronics recycling and refurbishing facility. Repowered is one of the largest collectors of e-waste in the state of Minnesota, processing more than 35 million pounds of electronic waste—all while adhering to the highest standards of data security.
They address three critical issues: re-entry into the workforce for formerly incarcerated individuals, e-waste and its effect on the environment, and the need for affordable electronics. Funds from the Neighborhood Builders grant will be used to grow the Repowered Work Readiness program and implement a program redesign to allow participants to increase earning power, remove barriers for future opportunity, and grow self-efficacy, creating an environment for success.
“At Repowered, we provide fair chances for people, planet, and technology,” said Amanda LaGrange, CEO, Repowered. “This funding from Bank of America is critical in expanding our work with adults who have a history of incarceration or addiction as they eliminate barriers to employment, increase their earning power, and grow their self-efficacy. We believe in a community where we are all defined by our futures, and this investment powers this vision forward.”
Here in the Twin Cities, a total of 14 nonprofits have been selected as Neighborhood Builders since 2013, with the bank investing $2.8 million into these local organizations. Since 2004, through its Neighborhood Builders® and Neighborhood Champions programs, Bank of America has invested more than $300 million in 92 communities across the nation, partnered with more than 1,500 nonprofits, and helped more than 3,000 nonprofit leaders strengthen their leadership skills. The program continues to be the nation’s largest investment into nonprofit leadership development, providing expert trainers who address topics ranging from increasing financial sustainability, human capital management and strategic storytelling. Neighborhood Builder awardees also are able to join a network of peer organizations across the U.S. and get the opportunity to access capital to expand their impact.
Bank of America Environmental, Social and Governance
At Bank of America (NYSE: BAC), we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social, and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in, and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer, and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).
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