Bank of America announced Monday that it has donated more than $2.4 million to 84 Los Angeles-area nonprofit groups to benefit programs that put people on a path to "financial stability."
"So many of us are just one life event away from needing to depend on basic needs (and) services such as food banks or shelters, while others -- especially from economically disadvantaged areas -- remain under-employed lacking the evolving job skills necessary to be part of today's booming workforce economy," Raul Anaya, BofA market president for Greater Los Angeles, said in a statement.
The funding will be aimed at providing people with needs such as access to food, shelter and health services, and access to education and workforce-development services that help young people find employment opportunities, officials said.
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BofA officials noted that one of the grant recipients, Chrysalis, helps low-income and homeless people find and retain employment. Another recipient, Covenant House California, will use its grant funding for a program that provides safe haven to homeless and trafficked youth.
Other recipients include Para Los Ninos, Junior Achievement of Southern California, Union Rescue Mission, Project Angel Food, Hillsides, The Posse Foundation, Catholic Charities of Los Angeles, YWCA Greater Los Angeles and Weingart Center Association.