Many of us serve our communities through donations or volunteering to causes that have personal meaning and are part of a sense of responsibility to support those in need.

However, strategic giving to organizations with clear missions is not just the “right thing” to do. It’s an investment in our neighbors and the future economic mobility of our communities.

National research has found that nearly two-thirds of nonprofits experienced an increase in demand for services in 2022. However, nearly 30% of nonprofits reported operating with less funding and paid staff than they had before the COVID-19 pandemic.

This is a challenge we see in Spokane as well. The Women & Children’s Free Restaurant & Community Kitchen, for example, provides over 1 million meals annually, 10 times more than before the start of the pandemic.

Addressing hunger is a key need, as Spokane County has one of the highest rates of food insecurity in the state, according to 2023 data from Washington State University and University of Washington.

This dedication to serving the community is just one of the reasons Bank of America selected the Women & Children’s Free Restaurant & Community Kitchen as our 2023 Neighborhood Champion. Through this program, BofA provides grant funding, leadership training and volunteer support to help further advance their mission.

As our local nonprofits evolve to serve the growing needs of our region, they need a robust network of collective support behind them. Whether you are an individual looking for values-based giving strategies, or an organization with resources to deploy, there are many ways to increase your involvement.

Individuals and families can develop a giving strategy as part of your financial planning process to meet your philanthropic goals in a sustainable way. There are also ways to contribute beyond donations, such as buying from companies that prioritize positive social impact.

We also cannot overstate the impact of volunteering. Local BofA teammates devoted over 5,500 volunteer hours in 2023. One of our core perks is that employees are given two hours a week to volunteer, which greatly increases their ability to consistently devote their time and skills.

The business community has a strong opportunity to support employees and their community through matching donations, partnership programs and structured events.

A sincere thank you to our nonprofit community, volunteers, donors, and all those who share their time and resources to address challenges and support a brighter future in Spokane. We look forward to continued collaboration in 2024 and beyond.

Kurt L. Walsdorf is Bank of America’s Spokane/Boise president.

Sara Desautel is Bank of America’s Spokane/Boise market executive.