BFIT Wins Neighborhood Builders Grant from Bank of America

October 27, 2021

Benjamin Franklin Institute of Technology received a 2021 Bank of America Neighborhood Builders® award for its work in Greater Boston to promote economic opportunity and educational access among low- and moderate-income populations, particularly in communities of color. 

As a Neighborhood Builder, BFIT receives a $200,000 grant over two years, comprehensive leadership training for the executive director and an emerging leader on topics ranging from increasing financial sustainability, human capital management and strategic storytelling, joins a network of peer organizations across the US, and gets the opportunity to access capital to expand their impact. The program continues to be the nation’s largest investment into nonprofit leadership development. 

The majority of BFIT students reside in low- and moderate-income communities such as Dorchester, Mattapan and Roxbury as well as commute from Gateway Cities such as Lowell and Lynn, and 57% are first-generation college students.

Bank of America also named Bottom Line, a mentoring organization focused on raising the college graduation rates of first-generation students from low-income backgrounds, as the other 2021 Neighborhood Builders awardee for Boston.

“As communities continue to recover and navigate a changing landscape, nonprofits are still experiencing significant demands and are in need of resources to help meet critical local needs like promoting educational access and economic opportunity, especially for diverse populations,” said Miceal Chamberlain, President, Bank of America Massachusetts. “BFIT and Bottom Line are helping bridge important gaps for individuals and families to help them chart a path toward economic opportunity and stability. The Neighborhood Builders program can help these organizations grow sustainably and strategically for greater positive impact in the community.”

Aisha Francis, Ph.D., BFIT’s President and CEO, said: “Bank of America’s Neighborhood Builders grant will provide coveted operating support to expand the capacity of Benjamin Franklin Institute of Technology’s faculty and staff through the use of data and predictive analysis for decision making, allowing for professional development investments to ensure that our educators are empowered and recharged as they continue expanding access to technical and trade education for community members in Boston and Gateway Cities.”

She continued, “The pandemic has caused historic levels of sustained unemployment and business disruption in Massachusetts, disruptions that market data has shown to have had a disproportionate impact on people of color (POC), those who are low-income, and women in the labor force. This grant allows the college to hone our training on women, people of color, and low-income members of our community to prepare them for widely available tech and trade jobs so they can create a financially secure future for themselves and their families in this historically imbalanced economy.”

Since 2004, Bank of America has invested over $280 million in 50 communities through Neighborhood Builders, partnering with more than 1,400 nonprofits and helping more than 2,800 nonprofit leaders strengthen their leadership skills. In Greater Boston, 34 nonprofits have been selected as a Neighborhood Builder, with the bank investing $6.8 million into these local organizations through the program since 2004.   

The invitation-only program is highly competitive, and leading members of the community participated in a collaborative selection process to identify this year’s awardees. Neighborhood Builders is just one example of how Bank of America deploys capital in communities, builds cross-sector partnerships, and promotes socioeconomic progress as part of its approach to responsible growth.