Two Local Nonprofits Named Bank of America Neighborhood Builders

Bank of America announced Washington Area Community Investment Fund (Wacif) and Halcyon as the 2023 Neighborhood Builders® awardees for their work advancing economic mobility and building up underserved neighborhoods in Washington, DC. Through this multi-year grant funding and extensive leadership training for the nonprofits’ leadership, programs and services addressing equity, economic opportunity, and entrepreneurship will scale.

The Neighborhood Builders program is one of the largest philanthropic investments into nonprofit leadership development in the nation, providing comprehensive leadership training for an executive director and an emerging leader on topics ranging from increasing financial sustainability, human capital management and strategic storytelling, and the opportunity to join a national network of peer organizations. Each Builder is also awarded a $200,000 grant over two years.

“Wacif and Halcyon are helping drive economic mobility across the DMV,” said Larry Di Rita, President, Bank of America Greater Washington, D.C. “We selected them as neighborhood builders so that the flexible funding and leadership training can help sustain their long-term success in improving our region’s prosperity and creating even more economic opportunity.”

Since 1987, Wacif has provided access to capital to support low-and moderate-income entrepreneurs drive inclusive entrepreneurship, community wealth building, and equitable economic development in Washington, DC. This new grant funding will facilitate the implementation of leadership development programs that empower individuals by providing advisory services to 5,000 entrepreneurs and assisting local businesses in creating and retaining more than 100,000 jobs.

"At Wacif, our goal is to develop leaders who contribute to our ongoing efforts to increase access and equity across financing and resources. Good leadership is the key to growth, allowing us to scale our lending, programming, and services throughout the Capital region,” said Kimberly D. Gayle, Co-Interim-Chief Executive Officer, Chief Programs Officer, Wacif. “Bank of America’s support will serve as a catalyst in fostering a more inclusive and economically vibrant community."

Halcyon supports impact-driven businesses and their founders through space, community, and access. Their programs include fellowships for social entrepreneurs and funding vehicles to help them scale their ventures. This new grant funding will provide much needed operating support, to allow them to continue to innovate and grow their holistic approach.

“There are so many talented entrepreneurs in the DMV solving local and global problems; we seek to match as many as we can with the resources they deserve to grow their solutions, and themselves,” said Dan Barker, President and CEO, Halcyon. “We’re grateful for a decade of partnership with Bank of America through our shared vision and values, and deeply appreciative of the Neighborhood Builders investment and recognition as we embark on another decade of service together.”

The invitation-only program is highly competitive. Nonprofits are selected by a committee comprised of community leaders and past Builders awardees. Forty nonprofits have been selected as Neighborhood Builders in Washington, DC since 2004, with the bank investing more than $8 million into these local nonprofits.

In 2023, Bank of America contributed more than $16.7 million in grant funding to greater Washington, DC-area non-profits, advancing workforce skilling, community development, health, and more. This community impact-driven support is an extension of Bank of America’s commitment to ensuring more people and communities have access to the tools and education to build a solid financial future.