Corporate Philanthropy

9/8/20 9:08 am EDT

On June 2, Bank of America made a $1 billion, four-year commitment to advance racial equality and economic opportunity. Today, the company is announcing its initial progress by directing one-third, or $300 million, of its $1 billion commitment to four key areas across 91 U.S. markets and globally: $25 million in support of jobs initiatives in Black and Hispanic/Latino communities, $25 million in support of community outreach and initiatives, $50 more...

9/1/20 10:00 am EDT

Grant proposals are now being accepted for the 2021 Bank of America Art Conservation Project. Nonprofit cultural institutions with artwork requiring much-needed conservation are welcome and encouraged to apply at www.bankofamerica.com/artconservation. All proposals must be submitted before Monday, November 30 to be eligible for funding in 2021.

The Bank of America Art Conservation Project provides grants to nonprofit museums throughout the world to conserve historically or culturally significant works of art that are more...

8/28/20 10:55 am EDT

The Bank of America Charitable Foundation has awarded a $1 million grant over two years to support a Boys & Girls Clubs of America tutoring program for youth ages 6 to 18 in 10 communities across the country. The initiative is an extension of Project Learn, a program that reinforces the academic enrichment and school engagement of young people during the time they spend at the clubs.

Ten Boys & Girls Clubs predominantly serving youth of color will receive a $25,000 to start or enhance a virtual and/ more...

7/20/20 11:00 am EDT

The nonprofit workforce development program Year Up Charlotte will be holding a virtual graduation ceremony to celebrate its inaugural graduating class at 6 p.m. ET on July 23. At the start of the ceremony, Cathy Bessant, Bank of America’s chief operations and technology officer, will join Year Up’s Founder and CEO Gerald Chertavian for a fireside chat to highlight Bank of America and Year Up’s long-term partnership and to inspire, encourage and motivate Year Up Charlotte graduates in their path forward and as role models for others.

“Year Up is highly effective in attracting smart more...

6/8/20 3:05 pm EDT

Hoy, el Smithsonian anunció el lanzamiento de su nueva iniciativa “Raza, comunidad y nuestro futuro compartido”, la cual explorará cómo los estadounidenses actualmente entienden, experimentan y enfrentan el tema de la raza, y su impacto en las comunidades, y cómo ese impacto está dando forma al futuro del país. El lanzamiento de la iniciativa es posible gracias a un compromiso de $25 millones de Bank of America, socio fundador.

“Durante casi 175 años, el Smithsonian ha sido un lugar que une a los Estados Unidos en tiempos de alegría, celebración, dolor y tristeza”, dijo Lonnie more...

6/8/20 3:00 pm EDT

Today, the Smithsonian announced the launch of its new “Race, Community and Our Shared Future” initiative, which will explore how Americans currently understand, experience and confront race, its impact on communities and how that impact is shaping the nation’s future. The launch of the initiative is made possible through a $25 million commitment from founding partner, Bank of America.

“For nearly 175 years, the Smithsonian has been a place that brings America together in times of joy, celebration, sorrow and sadness,” said Lonnie Bunch, secretary of the Smithsonian. “A place where more...

6/2/20 2:45 pm EDT

Bank of America anunció hoy que destinará durante cuatro años un total de $1 mil millones en apoyo adicional para ayudar a las comunidades locales a abordar la desigualdad económica y racial que se ha acelerado debido a una pandemia global. Los programas se centrarán en ayudar a las personas y comunidades de color que han experimentado un mayor impacto debido a la crisis de salud.

Las diferencias económicas y sociales subyacentes que existen se han acelerado e intensificado durante la pandemia mundial”, dijo Brian Moynihan, director general. “Los eventos de la semana pasada han more...

6/2/20 7:16 am EDT

Bank of America announced today that it is making a $1 billion, four-year commitment of additional support to help local communities address economic and racial inequality accelerated by a global pandemic. The programs will be focused on assisting people and communities of color that have experienced a greater impact from the health crisis.

“Underlying economic and social disparities that exist have accelerated and intensified during the global pandemic,” said CEO Brian Moynihan. “The events of the past week have created a sense of true urgency that has arisen across our nation, more...

6/5/20 9:00 am EDT

Bank of America is expanding its commitment to the Arbor Day Foundation through a second $250,000 grant to support efforts in four U.S. cities to increase the number of trees planted in low- and moderate-income neighborhoods. Cities will receive the funding from the Community Resiliency Grant program and recipients include local nonprofit organizations and municipal agencies. This grant will support the following cities:

  • St. Louis, Mo.
  • Durham, N.C.
  • Cleveland, Ohio
  • Nashville, Tenn.

 

These programs will drive green more...

5/29/20 4:33 pm EDT

Bank of America, IBM Corporation, Morgan Stanley and Accenture have committed financial and in-kind support totaling $8.5 million to the Brave of Heart Fund, established to provide financial and emotional support to the surviving family members of frontline health care workers and volunteers who lose their lives in the COVID-19 fight. Bank of America has contributed $5 million to the fund, with Morgan Stanley contributing $1 million and Accenture committing $500,000. The fund has also received contributions from individuals, family foundations and other corporations, totaling an additional more...

5/19/20 4:01 pm EDT

Bank of America announced today the issuance of a $1 billion corporate social bond to support the fight against the COVID-19 pandemic, the first such offering by a U.S. commercial bank.

The four-year bond, which is callable in three years, will pay interest semi-annually at a fixed rate of 1.486% for the first three years, and will pay interest quarterly at a floating rate thereafter. This offering is the seventh environmental, social and governance (ESG)-themed bond issued by Bank of America since 2013. Previous offerings – including five “green” bonds and one “social” bond – have more...

5/18/20 10:00 am EDT

Liberty Science Center (LSC) announced today that Bank of America has signed on as a Founding Corporate Sponsor of SciTech Scity, LSC’s planned 30-acre innovation campus that will launch and grow dozens of world-changing science and technology companies and reimagine K-12 science education.

Bank of America donated $1 million to the effort, which will ensure that the scientists of tomorrow will be prepared with the tools and technologies they need to deal with future crises, as well as to discover and pioneer breakthroughs that will make the world a better place for years to come more...

5/4/20 1:18 pm EDT

Bank of America announced today that it has received Small Business Administration (SBA) loan approvals for 265,500 small businesses under the SBA’s Paycheck Protection Program (PPP). This represents $24.9 billion in needed relief for small businesses. More than 256,000 of these small businesses have received a loan number since the SBA reopened the PPP funding on April 27.

Of the SBA applications submitted to date:

  • 98% are for companies with fewer than 100 employees.
  • 76% are for companies with fewer than 10 employees.
  • 93% are for more...
3/17/20 5:48 pm EDT

Entre muchos de los problemas sin precedentes que enfrenta el mundo debido al COVID-19, uno de los más urgentes es cómo garantizar que cientos de millones de estudiantes continúen aprendiendo durante las próximas semanas y meses en medio del cierre generalizado de escuelas primarias y secundarias.

Khan Academy, una organización educativa sin fines de lucro con herramientas de aprendizaje gratuitas e interactivas para estudiantes y herramientas gratuitas para maestros y padres, está en una posición única para desempeñar un papel esencial en el apoyo de la continuación del more...

3/17/20 5:46 pm EDT

Among the many unprecedented issues the world is facing because of COVID-19, one of the most pressing is how to ensure that hundreds of millions of students can continue to learn over the weeks and months ahead amid widespread elementary and secondary school closures.

Khan Academy ‒ an educational nonprofit with free, interactive learning materials for students and free tools for teachers and parents ‒ is uniquely positioned to play an essential role in supporting the continuation of learning at home. However, the organization needs additional resources to manage the expected more...

3/17/20 5:35 pm EDT

Bank of America anunció hoy que destinó $100 millones para apoyar a las comunidades locales debido a los retos sin precedentes que enfrenta el mundo por el coronavirus. Los fondos ayudarán a aumentar la capacidad de respuesta médica, abordar la inseguridad alimentaria, aumentar el acceso al conocimiento por el cierre de escuelas y brindar apoyo a las poblaciones más vulnerables del mundo.

“Todos debemos trabajar juntos como una comunidad global, a nivel públicos, privados e individual, para afrontar esta crisis de salud y humanitaria”, dijo Brian Moynihan, director general de Bank more...

3/17/20 5:33 pm EDT

Bank of America today announced it is committing $100 million to support local communities in need as the world faces unprecedented challenges from the coronavirus. The funds will help increase medical response capacity, address food insecurity, increase access to learning as a result of school closures, and provide support to the world’s most vulnerable populations.

“We must all work together as one global community – public and private sectors, as well as individuals – to address this healthcare and humanitarian crisis,” said Brian Moynihan, chairman and CEO of Bank of America. “ more...

2/20/20 9:00 am EST

Bank of America Community Development Banking (CDB) provided a record $4.88 billion in loans, tax credit equity investments, and other real estate development solutions, surpassing last year’s record of $4.7 billion. CDB delivers innovative financing solutions to help create affordable housing for individuals, families, seniors, students, veterans, the formerly homeless, and those with special needs. These efforts are part of the company’s commitment to deploying capital to address global issues outlined in the United Nations Sustainable Development Goals (SDGs).

Bank of America more...

2/19/20 9:05 am EST

Proposals are now being accepted for the 2020 Bank of America Art Conservation Project. Nonprofit cultural institutions with artwork requiring much-needed conservation are welcome and encouraged to apply at www.bankofamerica.com/artconservation. All proposals must be submitted before Thursday, April 30 to be eligible for funding in 2020.

The Bank of America Art Conservation Project provides grants to nonprofit museums throughout the world to conserve historically or culturally significant works of art that are in more...