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Bank of America Charitable Foundation Issues Request for Proposals From Nonprofits Addressing Hunger and Critical Needs

$10 Million Philanthropic Investment Builds on Longstanding Commitment to Hunger Relief and Food Security

Category:

Monday, September 10, 2012 10:30 am EDT

Dateline:

CHARLOTTE, N.C.

Public Company Information:

NYSE:
BAC
"Meeting individuals and families at their point of need, whether it is hunger, homelessness or other financial hardship, and providing resources will help them move forward and achieve financial stability."

The Bank of America Charitable Foundation announced today that it is inviting nonprofit organizations in the United States to submit funding proposals for local programs that address the critical needs facing low-income communities through emergent or “lifeline” services such as hunger relief, short-term supportive shelter, and benefits access. Through this funding, the company will invest $10 million to support these vital community efforts to assist individuals and families in need with immediate services and financial empowerment programs that promote long-term economic stability.

“Economic recovery and sustained prosperity cannot be addressed until critical needs are met,” said Kerry Sullivan, president of the Bank of America Charitable Foundation. “Meeting individuals and families at their point of need, whether it is hunger, homelessness or other financial hardship, and providing resources will help them move forward and achieve financial stability.”

Bank of America’s funding will help those in need by providing hunger relief through food banks, soup kitchens, and school- and after-school-based child feeding programs and food access initiatives. Funding will also support immediate services such as emergency shelter and short-term supportive housing, and programs that transition individuals and families to financial stability through integrated wraparound services. In addition to this request for proposals, the company’s support of critical needs prior to year-end will be deepened through a hunger-focused customer engagement effort, its annual United Way employee giving campaign taking place this fall, and ongoing volunteer efforts.

This is the third request for proposals the bank has issued for its funding priorities of housing, jobs and hunger, three areas critical to strengthening local economies. In July 2012, the Bank of America Charitable Foundation awarded over $22 million in grants to more than 650 nonprofits addressing housing needs and will soon be announcing grants to support local programs that address the nation's high unemployment rate.

For more information on nonprofit programs and services that may qualify for a grant, or how to submit an application, please visit www.bankofamerica.com/foundation. Grant applications will be accepted September 10 through October 8, 2012.

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. Reaffirming a commitment to develop and sustain a culture of service, bank employee volunteers contributed more than 1.5 million hours in 2011 to enhance the quality of life in their communities worldwide. Learn more at www.bankofamerica.com and follow us on Twitter at @BofA_Community.

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Contact:

Reporters May Contact:
Nicole Nastacie, Bank of America, 1.980.388.7252
nicole.nastacie@bankofamerica.com