N.C. A&T Receives $1M Gift from Bank of America

EAST GREENSBORO, N.C. (Sept. 9, 2020) – North Carolina Agricultural and Technical State University received $1 million from Bank of America through the bank’s $1-billion commitment over the next four years to advance racial equality and economic opportunity.

As part of that commitment, Ebony Thomas ‘93 will join the bank’s Environmental, Social & Governance, Capital Deployment and Public Policy team as the program executive for Racial Equality and Economic Opportunity Initiatives.

Bank of America is directing one-third, or $300 million, of its $1-billion commitment to four key areas across 91 U.S. markets and globally, with $25 million in support of jobs initiatives in Black and Hispanic/Latino communities.

These funds will enhance up-skilling and reskilling through partnerships with 10 historically Black colleges and universities and Hispanic serving institutions and 11 community colleges that serve predominately Black and Hispanic/Latino students. Bank of America will work with major employers in each select market to ensure these programs target specific hiring needs.

A&T is the first institute of higher education in North Carolina to partner with Bank of America in this effort.

“Among our goals is to provide the best and brightest students with access to opportunities that ultimately will result in dynamic careers,” said Derek Ellington, Triad market president for Bank of America. “What better way to accomplish that than by leveraging the excellent relationship we already have with A&T, the nation’s No. 1 HBCU?”

That relationship is further strengthened by the addition of Thomas in implementing Bank of America’s vision. Most recently, she served as bank’s human resources executive for market and site human resources where she led activities including talent planning, development and mobility, engagement and diversity and inclusion across all markets. Before serving in this role, she was the head of enterprise diversity recruiting and co-head of global campus recruiting.

“As a doctoral research and modern land grant institution, we play a vital role in not only the education of future generations of leaders like Ms. Thomas, but also in applied research and, equally, as a major economic driver for the region, state and nation,” said Chancellor Harold L. Martin Sr.

Bank of America also will direct $25 million in support of community outreach and initiatives, $50 million in direct equity investments to Minority Depository Institutions, and $200 million of proprietary equity investments in minority entrepreneurs, businesses and funds.

Martin said the bank’s investment in A&T through this significant and historic effort will pay dividends for years to come.

“As a beacon for the future, we sit here in East Greensboro at the intersection of all that Bank of America is committed to through this initiative – talent and job creation, community outreach, wealth creation, and entrepreneurship,” he said. “All of these are at the very heart of who we are as a land grant institution.”

The Bank of America gift comes during the university’s capital campaign, The Campaign for North Carolina A&T. Its goal is to raise more than $100 million by Dec. 31.