Children’s Aid and Family Services Receives Grant from Bank of America to Support Mobility Mentoring

Funding Will Help Youth Aging Out of Foster Care
Paramus, NJ [September 4, 2024]– Children’s Aid and Family Services, a local non-profit organization dedicated to strengthening families and empowering individuals – children and adults alike – to reach their fullest potential, has received a $15,000 grant from Bank of America (BofA).

The grant will support youth aging out of foster care participating in the agency’s Mobility Mentoring program. The program provides comprehensive mentoring and financial support to benefit employment outcomes for at-risk youth aging out of foster care. Children’s Aid and Family Services serves 20,000 individuals annually in the northern New Jersey community. It provides vital human services programs including adoption and foster care as well as community homes, day program and specialized services for individuals with intellectual and developmental disabilities. It also provides substance misuse prevention, education programs and peer recovery services.

In 2023, Mobility Mentoring served 20 at-risk youth. Among the participants in the program, 100% have a bank or financial account, 95% have earned their high school diploma or GED, 88% are enrolled in school and/or working and 10% earned their bachelor’s degrees.

“The Mobility Mentoring program serves a uniquely vulnerable population, youth aging out of foster care and making the transition to adulthood, often without family support. There is a critical need for additional guidance to help former foster youth transition into adulthood. Mobility Mentoring empowers these young people to economic stability,” says Shavonda E. Sumter, President and CEO. “We appreciate BofA’s generous support and continued investment in our Mobility Mentoring program.

The grant is part of Bank of America's philanthropic giving efforts in local communities. Awardees were selected for their commitment to addressing the needs of individuals

"The Children’s Aid and Family Services is providing an invaluable resource with their Mobility Mentoring program. They’re empowering families and individuals to break the cycle of poverty and achieve lasting financial stability,” said Alberto Garofalo, president, Bank of America New Jersey. “Through personalized coaching and holistic support, the program helps participants set and reach critical life goals, creating pathways to a brighter and more secure future."

Children’s Aid and Family Services

Children’s Aid and Family Services is a leading nonprofit human services organization serving northern New Jersey. The agency is fully accredited and has served the community for 125 years. Its mission is to strengthen families and empower individuals – children and adults alike – to reach their fullest potential. For more information on Children’s Aid and Family Services, call 201-261-2800 or visit www.cafsnj.org.

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 approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 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 is listed on the New York Stock Exchange (NYSE: BAC).