Key Impact Points:
- Economic Empowerment: The grant will expand Soles4Souls’ 4Opportunity program, creating jobs and enabling entrepreneurship in the Dominican Republic.
- Environmental Impact: The initiative extends the life of shoes and apparel, reducing landfill waste and carbon emissions.
- Support for Women: The program significantly increases household income for women in low-income countries, helping break the cycle of poverty.
Expanding Economic Opportunities
Soles4Souls, a nonprofit that provides economic relief and protects the planet through the distribution of shoes and clothing, received a $150,000 grant from Bank of America to expand its 4Opportunity program to the Dominican Republic. This expansion will create jobs by enabling individuals in low-income countries to start small businesses with a steady supply of high-quality, low-cost shoes and apparel.
Buddy Teaster, President and CEO of Soles4Souls, said, “For more than a decade, we have seen how our 4Opportunity program can change lives around the world. Building on our deep partnerships in Haiti, BofA’s incredible support will allow us to bring that opportunity to some of the most disadvantaged communities in the Dominican Republic. We believe BofA’s generous grant will have a meaningful, measurable impact by supporting Soles4Souls in working with those looking to create a better life for themselves and their families.”
Environmental Benefits
Since 2008, the 4Opportunity program has empowered under-resourced communities, particularly benefiting women who have limited access to marketplaces and wealth creation. The program also helps the environment by extending the life of shoes, diverting them from landfills, and reducing carbon emissions. To date, Soles4Souls has diverted 91 million pounds of shoes and clothing from landfills in 34 countries.
Change the World - Subscribe Now
Supporting Disadvantaged Communities
Alex Liftman, Global Environmental Executive at Bank of America, stated, “Soles4Souls has developed an innovative approach to simultaneously nurture small businesses and address challenges of poverty, gender inequality, and waste, and we’re proud that our support will enable the organization to impact even more communities.”
Research shows that women in low-income countries reinvest their money into their children’s education, health, and safety, increasing their chances of long-term disruption of poverty. Entrepreneurs in the 4Opportunity program report that they have been able to increase their household income by more than 200%, significantly raising their economic status above the international poverty line.
Additional Support
In addition to the $150,000 grant, Bank of America employees will participate in a shoe drive across the company’s locations starting in April, with donated shoes going to the 4Opportunity program. Bank of America has partnered with Soles4Souls through its My Environment employee network since 2017.
