Bank of America has expanded its financial outreach with a $1 billion, four-year commitment to help communities address economic and racial inequality accelerated by the COVID-19 pandemic.

The programs will target people and communities of color that have experienced a greater impact from the health crisis, with a focus on health, job support and creation (training, reskilling and upskilling) and support for small businesses and housing needs.

“Underlying economic and social disparities that exist have accelerated and intensified during the global pandemic,” CEO Brian Moynihan said in a statement. “We all need to do more.”

Building on other outreach efforts

The $1 billion commitment builds on other outreach programs BofA has launched, including a $500,000 donation to Project Isaiah, which delivers food to people in need and helps preserve food-service jobs, and a $1 million donation to Feeding America, a hunger-relief organization.

Working in partnership with airline catering company Gate Gourmet, Project Isaiah is helping the company save hundreds of jobs while also providing pre-packaged airline meals to people financially impacted by the health crisis.

Gate Gourmet distributes more than 350,000 boxed meals per week in 11 U.S. cities, including Los Angeles, and the organization has saved more than 500 jobs.

“Given their experience with transportation and logistics, Gate Gourmet is able to deliver large-scale meals,” said Dannielle Campos, BofA’s philanthropy director. “The food is being distributed to places like Union Station in Los Angeles and midnight missions. This is what we think of when we think about an alternative food supply chain.”

Beyond money

Project Isaiah co-founder Devon Spurgeon said BofA’s help goes beyond money.

“They have been a partner in every step of this journey,” she said. “They have been extraordinary in providing guidance and in helping us get this up and running. I really feel like they have been in the trenches with us.”

Feeding America used a portion of its BofA donation to distribute more than 54,000 meals to Inland Empire residents in need — all in the course of a week.

“We are grateful for Bank of America’s support of our COVID-19 response efforts,” said Casey Marsh, Feeding America’s chief development officer. “It will help provide food and funds for food banks across the Feeding America network.”

Dire need

Campos said nonprofits are in dire need of funding.

“We had 42 million people struggling with hunger pre-COVID-19, and now millions more Americans are out of work,” she said. “This crisis has prompted innovation to tackle these problems in different ways.”

The bank has directed $100 million toward eliminating food insecurity and providing needed medical services.

“In the first 30 days after March 16 we directed about $30 million of that in grants to hunger relief organizations — and a quarter of that went to Southern California as a whole,” Campos said.

In Los Angeles, BofA is supporting the California Hospital Medical Center with a $300,000 grant. The medical center serves at risk-populations in central L.A. with a focus on the city’s expanding homeless population.

Data from the Bureau of Labor Statistics show low-paying service jobs have been hammered by COVID-19.

The nation’s leisure and hospitality industry lost 7.5 million jobs in April but regained 1.2 million the following month, although the hotel industry still shed 148,000 jobs.

Retail trade lost 2.3 million jobs in April but added 368,000 in May.