The Citi Foundation and the Local Initiatives Support Corporation (LISC) recently announced new funding through the Bridges to Career Opportunities initiative (Bridges) to help connect unemployed and underemployed youth and young adults in Los Angeles to good jobs in growth industries.
Two local nonprofits have been awarded $390,000 and technical support to provide services that help job seekers increase their incomes, improve their credit and raise their standards of living. Services include skills training and career development, as well as personal finance coaching, continuing education courses (to strengthen math and reading skills), and resources to help job seekers secure transportation, child care and housing arrangements, which can be impediments to career mobility.
The new funding is part of a $10 million three-year national effort by the Citi Foundation and LISC to expand the reach of Bridges and spur economic opportunity for thousands of families across the country, including more than 600 young workers in Los Angeles. Brenda Shockley, Deputy Mayor of Economic Opportunity for the City of LA who oversees initiatives focused on fighting poverty, housing the homeless, expanding affordable housing, and improving access to workforce development resources says that “The funding provided by Citi Foundation will enhance the opportunity for Angelenos to build their technical skills, enhance their financial stability, and find living wage careers that meet the demands of the shifting nature of the economy.”
The grantees—both focused on services for youth and adults—have long and successful track records of outreach in the communities they serve.
“By connecting programs that provide not only education and skills building, but support services for family and housing needs, we’re helping American workers who have been or are in danger of being displaced achieve success and contribute to their communities” said Ed Skyler.
The Los Angeles groups are among 40 community-based nonprofits to be awarded funding through this program (a full listing of participating organizations can be found here. Notably, more than half of the sites, including both of the L.A. programs, are located in Opportunity Zones, a federal incentive to increase investments in low-wealth communities as part of the Tax Cuts and Jobs Act of 2017.
The majority of people who enter the Bridges program are either unemployed or working in minimum wage jobs and testing at a 6th-8th grade education level. After Bridges, more than three-quarters of participants move on to occupational skills training and 64 percent achieve industry-recognized credentials—opening doors to living wage jobs they would not otherwise be able to access and putting them on career pathways with the opportunity for ongoing advancement. In the last two years alone, more than 3,000 training participants across the country have been placed in jobs.
Youth Policy Institute stated that, “We are excited about this opportunity to partner with LISC and Citi Foundation to bring financial resiliency to our community. Studies, and our own work, have shown that when we introduce financial concepts at teachable moments–like starting a new job–learning is increased, new habits are formed, and confidence greatly increases"
The Coalition for Responsible Community Development stated that, “The Citi Foundation funds will be beneficial to train and support our most vulnerable job seekers in the South LA community who want to be connected to high growth industries. Many of the participants will be able to be connected to big construction projects in downtown LA, the Lucas museum and LAX.”
The Citi Foundation’s investment in Bridges builds on a decades-long relationship between the Foundation and LISC. It also signals an expansion of Citi Foundation’s Pathways to Progress initiative beyond youth-focused career readiness to provide adult job seekers the full range of services needed for long-term employment.
About the Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.
About LISC
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families. Since 1979, LISC has invested $18.6 billion to build or rehab 376,000 affordable homes and apartments and develop 63 million square feet of retail, community and educational space. To learn more, visit www.lisc.org.