Submitted by Bank of America Charitable Foundation:
The Bank of America Charitable Foundation today announced that five East Bay high school students have been selected to take part in the 2012 Student Leaders program, which awards a total of 225 high school juniors and seniors from around the country with paid eight-week summer internships at local nonprofit organizations.
The program is part of Bank of America’s ongoing philanthropic commitment to providing community-minded students with access and exposure to critical resources that will bolster their work and life skills while also benefiting the community. The student awardees will also travel to Washington, DC to take part in a national Student Leadership Summit this July.
“Teens have been disproportionally affected by the recession with unemployment rates at an all-time high,” said Janet Lamkin, Bank of America President, California. “Through the Student Leaders program, students are receiving more than just a paycheck. They are gaining valuable real-world experience that will help them develop further as leaders, all while helping to strengthen the East Bay during a time when an increased number of people need assistance.”
Despite gains in the overall job market, one out of every four job seekers between the ages of 16 and 19 is still unable to find employment. California’s teen unemployment rate is 36.1 percent, which is even higher than the national average. Research indicates that teens who are gainfully employed have lower drop-out rates, are more likely to continue their education to pursue long-term career goals, and ultimately show an increase in lifetime earning potential.
The five participating local students interning at Junior Achievement of Northern California are:
- Cara He, an Oakland resident and recent graduate of Skyline High School .
- Sricharana Muppidi, a Pleasanton resident and rising senior at
- Sai Kosaraju, a San Ramon resident and rising senior at Dougherty Valley High.
- Julian Parrish, a San Leandro resident and rising senior at San Leandro High School.
- Zhenzheng Hu, a Fremont resident and recent graduate of Irvington High School.
Local nonprofits also benefit from the program. The 2012 Nonprofit Finance Fund State of the Nonprofit Sector survey reports that 88 percent of nonprofits responding expect an increase in demand for services this year, while funding resources remain tight. The extra capacity provided by the students will help nonprofits meet this increased demand.
This year alone, the Bank of America Charitable Foundation is investing more than $1 million in the Student Leaders program. Since 2004, the company has committed more than $9 million, recognizing more than 1,600 students in 44 U.S. cities. This program demonstrates Bank of America’s long-standing belief that investing in leadership and fostering a culture of service is a way to revitalize the economic and social health of communities.
In addition to the paid internships, the students will attend a weeklong Bank of America Student Leadership Summit in Washington, DC in July.
Through participation in a service learning project and a series of interactive workshops, including Capitol Hill briefings, sessions on financial education and leadership development skills, the students will gain a deeper understanding of how service creates positive change and how corporate, nonprofit and government collaboration revitalize communities.
Bank of America Corporate Social Responsibility
Bank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way across more than 100 markets around the world, to deliver for shareholders, customers, clients and employees.
Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create shared value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture.
Learn more at www.bankofamerica.com/opportunity and follow us on Twitter at @BofA_Community.