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Commemorating One Year Since Onset of the LA Fires, BofA Grant Brings Record-Pace Capital Campaign Closer to Completion
In recognition of the one-year anniversary of the Los Angeles wildfires, Bank of America announced a $1 million grant to the YMCA of Metropolitan Los Angeles to help rebuild the Lowe Family YMCA serving the Palisades-Malibu community that was destroyed by the fires. The BofA grant is the first and largest corporate award to date for the YMCA's $25 million capital campaign that was launched over the summer. The project is expected to break ground this spring, bringing new facilities and additional programs for working families and seniors in the community.
"As we mark the first anniversary of the devastating fires, we also celebrate the incredible progress of the YMCA's efforts to rebuild its destroyed Via de la Paz site and a nearby campus," said Raul Anaya, Bank of America president for Greater Los Angeles. "The wildfires destroyed so much – thousands of homes, businesses and communities – but it never destroyed L.A.'s spirit. As a longtime supporter of the YMCA, we're proud to help bring this space back to life for so many residents, and encourage other donors to help bring this important effort over the finish line."
"We are deeply grateful to Bank of America for their generosity and for being our first corporate donor to this campaign," said Victor Dominguez, President and CEO of the YMCA of Metropolitan Los Angeles. "Our corporate partners are critical to engaging our full communities in the rebuilding process. As the Center for Community Well-Being with dozens of locations across the L.A. region, we activated on day one of the fires to support our communities. We will continue to help Palisades rebuild not just the buildings, but the community and connections that make it so special."
The Lowe Family YMCA has served Palisades and Malibu area children, families and seniors for over 60 years. In response to the widespread displacement and trauma caused by the fires, the YMCA of Metropolitan Los Angeles quickly mobilized through nearby centers and partner sites to deliver emergency childcare, case management, and trauma-informed care to thousands of residents.
These efforts continue today, but the long-term recovery of the community depends on restoring a permanent YMCA presence in the area. The YMCA of Metropolitan Los Angeles has committed to replace the burned site with two new resilient campuses - one on the original Via de la Paz site and one at the nearby Simon Meadow site. The dual campus will expand programming around youth development, mental health services, emergency preparedness and multigenerational engagement.
In recognition of Bank of America's leading corporate donation, the new Community Room at the Palisades Via De La Paz club will be named for Bank of America.
Having extensive experience supporting clients and communities through various disasters, Bank of America's expertise, capital and connections continues to support LA's next chapter. Today's $1 million grant brings its philanthropic contributions to $4.5 million for fire recovery needs. In addition, BofA recently announced $10 million in zero-interest capital to three CDFIs for ongoing business and housing needs; and a new Rebuild Solution to help qualifying mortgage clients rebuild their homes. The bank will also rebuild its destroyed financial centers in Pacific Palisades and Altadena; and continues providing recovery-related thought leadership and employee volunteerism to local nonprofits.
For more information on Bank of America's relief efforts, go to BankofAmerica.com/LARebuild. To donate towards the Lowe Family YMCA capital campaign, go to YMCALA.org/give/.
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million consumer and small business clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
YMCA of Metropolitan Los Angeles
As the Center for Community Well-Being the LA Y is committed to building stronger communities by providing equitable programs and services to empower all Angelenos. We are focused on fighting food insecurity, providing equity in education, making sure every child has the opportunity to experience the joy of sports, ensuring kids and teens have a safe place to grow, learn and live a healthy lifestyle. The LA Y's health and wellness initiatives offer medical and mental health resources to ensure everyone has access to basic health needs. Our mission is to provide services and resources that contribute to the well-being of our community. Visit ymcaLA.org for more information. More on Facebook,or Instagram.
Reporters may contact
Colleen Haggerty, Bank of America
Phone: 1.213.621.7414
colleen.haggerty@bofa.com
Sarah Angel, YMCA PR
Phone: 1.818.693.0967
sarah@joancollaborative.com
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SOURCE Bank of America Corporation
