CommunityWorks Carolina Receives $11,000 for Housing Programs
August 24, 2012
Part of Bank of America Charitable Foundation Support for Local Housing Grants to Nonprofits
GREENVILLE, SC – August 24, 2012 – CommunityWorks Carolina (CWC), a nonprofit and Community Development Financial Institution (CDFI) formerly known as Greenville Housing Fund, has been awarded an $11,000 grant from the Bank of America Charitable Foundation. The funds are part of a recently announced $22 million investment to revitalize neighborhoods across the nation.
“CWC is proud to partner with Bank of America to address the expansive housing needs for low-wealth families in our community. CWC’s use of the grant will support the affordable housing focus of the organization and its mission of building people and places,” said Coleman Shouse, CWC Board Chairman.
Bank of America has been recognized by the industry as one of the nation’s largest, most active affordable housing lenders and is the largest investor in CDFIs like CWC. The housing grants from Bank of America will help nonprofits build and rehab affordable housing, offer foreclosure prevention services and homeowner counseling, and provide other services intended to revitalize neighborhoods and help working families find and keep suitable homes.
“In response to the many challenges facing our communities, we are focusing our philanthropic support on areas vital to advancing local economies,” said Kim Wilkerson, South Carolina president for Bank of America. “These philanthropic investments are critical to strengthening our local economies. We are very pleased to be able to support CommunityWorks Carolina and other organizations and their commitment to Upstate residents as well as those across South Carolina.”
More than 650 national and local community nonprofits in 34 states will be supported from the grants. In addition, information provided by the nonprofit grantees estimates the funding will benefit more than 31 million people, providing nearly 8,000 new affordable housing units and rehabbing over 11,000 units. Supporting housing nonprofits is one component of the company’s community focus on housing, jobs and hunger – three areas that are critical to stimulating the national economic recovery.
Through its housing programs, CWC has assisted 222 families purchase their first home which has generated over $29 million in local economic impact. CWC will use the Bank of America grant funds to support its numerous housing programs and initiatives which include:
•Community loans for affordable housing projects
•IDA matched savings for homeownership
•Mortgage loans
•Downpayment assistance
In the Upstate, three other housing nonprofits also received funding from this grant to aid their housing initiatives. The other Upstate grantee organizations are Consumer Credit Counseling Services of the Upstate, Community Conservation Corps at Furman University and Habitat for Humanity of Spartanburg.
Photo Caption: Bank of America’s Matt Cardone presents the housing grant check to CommunityWorks Carolina board members and staff. (Photographed left to right) Earle Furman, NAI/Earle Furman Company; Deborah McKetty, CommunityWorks Carolina; Mike Coggin, South Carolina Bank and Trust; Matt Cardone, Bank of America; Coleman Shouse, Lazarus Shouse Communities.
To learn more about CommunityWorks Carolina’s housing programs, call 864-235-6331 or visit www.CommunityWorksCarolina.org.
Bank of America Corporate Social Responsibility
Bank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way across more than 100 markets around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create shared value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. Learn more at www.bankofamerica.com/opportunity and follow us on Twitter at @BofA_Community.
CommunityWorks Carolina (CWC)
Established in 2008, CommunityWorks Carolina, formerly known as Greenville Housing Fund, is non-profit organization and certified Community Development Financial Institution (CDFI) that supports affordable housing and community development as a critical vehicle for fostering stable families and healthy communities. CWC strives to build people and places in the Upstate of South Carolina through partnerships with individuals and organizations to provide financial resources, education, and employment opportunities. CWC offers a variety of assistance programs including: Downpayment Assistance, Affordable Mortgages, Community Development Loans, Microbusiness Loans, and Matched Savings Individual Development Accounts.
