Bank of America will donate $560,000 to 32 nonprofits in Riverside and San Bernardino counties.
The funding, announced Wednesday, will help pay for job retraining, affordable housing and shelter, youth education, job training and healthcare, according to a statement released by the bank.
Cost-of-living in the Inland Empire has gone up about 10 percent in the past year, putting a strain on many households, according to the consumer price index.
Bank of America, which last year donated $1.6 million to 70 Inland nonprofits, typically makes charitable grants that help vulnerable individuals and families become more stable financially.
This year’s recipients include Big Brothers Big Sisters, Catholic Charities, Feeding America Riverside San Bernardino, Girl Scouts of San Gorgonio Council, Hope Through Housing Foundation, Inland SoCal 211, Starting Over, the Family Assistance Program and the Community Health Action network.
The amount donated to each organization is confidential.
“Investing in nonprofits … is part of our approach to driving economic opportunity and social progress in the Inland Empire,” said Bansree Parikh, president of Bank of America’s Inland Empire division, in the statement. “This recent philanthropic investment is just one way Bank of America deploys capital locally to help remove barriers to economic success and build a more sustainable community.”