Bank of America and (RED) Approach Midway Point of Two-year, $10 Million Partnership to Support the Global Fight Against AIDS
World AIDS Day and #GivingTuesday Activities Will Result in a Donation of More Than $3 Million to the Global Fund to Fight AIDS, Tuberculosis and Malaria
A flurry of World AIDS Day and #GivingTuesday activities mark the latest milestone in a two-year, $10 million partnership between Bank of America and (RED). The goal of the partnership, which was announced in January, is to help end mother-to-child transmission of HIV and achieve an AIDS-free generation by supporting the critical work of the Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund).
“Combining private sector scale and resources with nonprofit expertise is one of the most effective ways to address the significant challenges we face,” said Anne Finucane, global chief strategy and marketing officer at Bank of America. “That’s the approach we’ve taken with (RED) and other partners, and the progress we’ve made together in raising both awareness and funds for the fight against AIDS has been truly inspiring.”
Bank of America-supported World AIDS Day (Dec. 1) activities included:
- A surprise (RED) Thank You event in Times Square presented by Bank of America, featuring performances by Kanye West and Carrie Underwood, as well as Adam Clayton, The Edge and Larry Mullen Jr. of U2, joined by Bruce Springsteen and Chris Martin. Tens of thousands of people packed Times Square for the event.
- For every purchase made with a Bank of America debit card, 10 cents were donated by Bank of America to the Global Fund.
- For every beverage My Starbucks Rewards members bought with their registered Starbucks card, 10 cents were donated by Bank of America to the Global Fund.
#GivingTuesday (Dec. 2) activities include:
- For every $1 donated to (RED), Bank of America will match it with an additional $2.*
These activities and others will result in a donation of more than $3 million by Bank of America to the Global Fund. In total, this year Bank of America will have delivered more than $6 million of its $10 million commitment, with the remainder planned in 2015.
The Bank of America/(RED) partnership formally kicked off with a Super Bowl commercial in February, which featured U2 performing, “Invisible.” For every free download of the song, Bank of America donated $1 to the Global Fund; in total, more than $3 million was generated.
In October, Bank of America, (RED) and Nike+ launched TURN YOUR MILES (RED), an eight-week campaign that empowers walkers, runners and fitness enthusiasts worldwide to make a collective contribution that will save lives and effect change. For each Nike+ Running mile pledged to (RED) on www.nike.com/onestep4red, Bank of America is donating 40 cents to the Global Fund**. As of today, more than 1.2 million miles have been pledged to the cause. The campaign ends on Dec. 7.
“Bank of America has not only committed millions of dollars to the AIDS fight through the Global Fund, but by using their considerable marketing muscle, they've been helping (RED) raise awareness about progress made in the fight and the need for the world to keep its foot on the gas to end AIDS once and for all. We're grateful for their partnership to (RED) and the Global Fund,” said Deborah Dugan, (RED) CEO.
The money raised by (RED) is used to finance Global Fund grants which fight AIDS in eight African countries – Ghana, Kenya, Lesotho, Rwanda, South Africa, Swaziland, Tanzania and Zambia – by providing treatment, testing and prevention and care services, with a focus on ending mother-to-child transmission of HIV and achieving an AIDS-free generation. Of the more than $275 million generated by (RED), 100 percent has gone directly to the Global Fund for on-the-ground services, with no overhead taken out by (RED). (RED) and its partners – Bank of America, Apple, Starbucks and more – are united in a global push to end mother-to-child transmission of the deadly HIV virus.
* All individual donations made through the Bank of America (RED) Program will go to the UN Foundation Fund for AIDS, Tuberculosis and Malaria to support and fund Global Fund programs for the prevention and treatment of HIV/AIDS. For such donations made before December 31, 2015, Bank of America Corporation will make a donation in an equal amount (up to a maximum of $1,000 per donor in the aggregate) to the U.S. Fund for the Global Fund to support and fund prevention and treatment of HIV/AIDS, up to a maximum total corporate donation of $2,000,000.
**From October 12 until December 7, 2014, for every mile, up to a weekly cap published at NIKE.COM/ONESTEP4RED, recorded on Nike+ Running as part of the Turn Your Miles (RED) pledge program, Bank of America Corporation will donate $0.40 to the U.S. Fund for the Global Fund to Fight AIDS, Tuberculosis and Malaria to support and fund prevention and treatment of HIV/AIDS, up to a total maximum donation of $1,000,000. No purchase necessary.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small businesses, middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 48 million consumer and small business relationships with approximately 4,900 retail banking offices and approximately 15,700 ATMs and award-winning online banking with 31 million active users and more than 16 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
(RED) was founded in 2006 by Bono and Bobby Shriver to engage businesses and people in the fight against AIDS. (RED) partners with the world’s most iconic brands who contribute up to 50% of profits from (RED)-branded goods and services to the Global Fund. (RED) Proud Partners include: Apple, Starbucks, Galaxy Chocolate (UK), The Coca-Cola Company, Bank of America, Beats by Dr. Dre, Belvedere, Claro, SAP, Telcel and Live Nation Entertainment. (RED) Special Edition partners include: aden+anais, Jonathan Adler, Theory, HEAD, Kidrobot, Moleskine, Mophie, Sir Richard's Condom Company, Square, Girl Skateboards, Bottletop, Fatboy USA and Bed Bath & Beyond.
To date, (RED) has generated more than $275 million for the Global Fund to fight AIDS, Tuberculosis and Malaria, to support HIV/AIDS grants in Ghana, Kenya, Lesotho, Rwanda, South Africa, Swaziland, Tanzania and Zambia. 100 percent of that money goes to work on the ground – no overhead is taken. Global Fund grants that (RED) supports have impacted more than 55 million people with prevention, treatment, counseling, HIV testing and care services.
(RED) is a division of The ONE Campaign. Learn more at www.red.org.
About the Global Fund to Fight AIDS, Tuberculosis and Malaria
The Global Fund is a 21st-century organization designed to accelerate the end of AIDS, tuberculosis and malaria as epidemics.
As a partnership between governments, civil society, the private sector and people affected by the diseases, the Global Fund mobilizes and invests nearly US$4 billion a year to support programs run by local experts in more than 140 countries. By challenging barriers and embracing innovative approaches, partners are working together to end these epidemics.
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