BMO group gives $1M to Homeboy Industries in L.A.

Homeboy Industries will receive a $1 million donation from BMO Financial Group to support the nonprofit's gang intervention, rehabilitation and re-entry services in Los Angeles, officials announced on Monday, Sept. 25.

“BMO's generous support will engage thousands of former gang members each year from across Los Angeles who come through Homeboy Industries' doors seeking to better their lives,” said Father Greg Boyle, founder of Homeboy Industries, which has served the Los Angeles area for over 35 years.

The gift will be used to regionally expand the nonprofit's workforce development and training hub, including programs at its new Youth Re-Entry Center in the Boyle Heights neighborhood. The funding will also support Homeboy Industries' Global Homeboy Network, which provides a blueprint for organizations around the world to create similar programs, from job skills and financial literacy to academic support.

“This partnership with BMO supports the expansion of our programs and impact at a time when we are helping more people in more ways than ever,” Homeboy Industries CEO Thomas Vozzo said.

“It also allows us to cast a wider net, sharing our model as we work with other organizations and individuals, advocating for marginalized populations, breaking the cycles of recidivism, and creating alternatives to incarceration,” he said.

The donation is part of BMO's more than $40 billion Community Benefits Plan, which is the company's commitment to helping address key barriers to economic inclusion across the United States, according to the company.

“BMO's partnership with Homeboy Industries brings us one step closer to bridging the economic and equity gap for individuals in the Los Angeles area,” said Kimberley Goode, chief communications and social impact officer for BMO.

“Together we can help provide resources for men, women and youth who have been marginalized and drive progress towards an equitable and thriving economy,” she said.