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Bank of America Charitable Foundation

 
Funder type: Corporate Foundation
Address: 100 N. Tryon Strret
NC1-021-02-20
Charlotte, NC 28202
Phone: 800-218-9946
Contact: Anne Finucane, Foundation Chairperson/Chief Marketing Officer
617.434.9405
anne.m.finucane@bankofamerica.com
Contact: Andrew Plepler, President
800.432.1000
andrew.plepler@bankofamerica.com
EIN: 582429625
Url: http://www.bankofamerica.com/foundation/
Url: http://www.bankofamerica.com/foundation/pdf/NEIBuilders.pdf
Url: http://www.bankofamerica.com/foundation/index.cfm?template=fd_fundprior
Url: http://www.bankofamerica.com/foundation/index.cfm?template=fd_commfundprior&context=fd_commfundprior_ada
Geographic focus: (Emphasis on CA, IL, NC) 30-39 States, AR, AZ, Canada, Chicago Metro Area, CT, DE, FL, GA, IA, ID, International, Kansas City Metro Area, KS, MA, MD, ME, MI, MO, National, NE, New York City Metro Area, NH, NJ, NM, NV, NY, OK, OR, PA, RI, SC, TN, TX, VA, WA, Washington, D.C. Metro Area
Types of support: Building/renovation, Emergency Funds, Equipment, Operating Support, Program Support, Scholarships to Individuals
Deadlines: None
Geographic Interests: The Bank of America Foundation says they distrtibute their grant monies across "the footprint of the Bank". Currently, 32 states receive grants from the Bank. The largest percentage of grant monies are CA, NC, TX and VA, but FL, MO, GA, SC, DC, MD, IL, WA, AZ and TN received at least one million dollars from the foundation. The merger with FleetBoston may increase giving to New England and Mid-Atlantic states.
Related corporation? YES
Corporation: Bank of America Corporation
Corp Url: http://www.bankofamerica.com
Corp products: Operates bank holding company.
Total assets: $18,869,006 as of 2008
Average grant range: $ 1,000 to $ 100,000
Grant low: $ 99
Grant high: $ 10,000,000
Online application: http://www.bankofamerica.com/foundation/index.cfm?template=fd_grantapp
Trustees / directors: Anne M. Finucane, Chairperson; Andrew D. Plepler, President; Thomas Brantley, Sr. Vice President, Tax; Walter Keith Davis, Sr. Vice President, Tax; Susan D. Mays, Sr. Vice President, Tax; Dannielle C. Campos, Sr. Vice President; Rena M. DeSisto, Sr. Vice President; Elizabeth J. Ferrer, Sr. Vice President; Suzette Finger, Sr. Vice President; Stephen B. Fitzgerald, Sr. Vice President; Angie Garcia-Lathrop, Sr. Vice President; Annika Little, Sr. Vice President; Jennifer Locane, Sr. Vice President; Deirdre W. Martin, Sr. Vice President; Pamela McQuitty, Sr. Vice President; Michael F. Shriver, Sr. Vice President; Brenda L. Suits, Sr. Vice President; Kerry H. Sullivan, Sr. Vice President; Kristen L. Teskey, Sr. Vice President; Teresa M. Ingwall, Vice President; Harvetta M. Finley, Secretary; Catherine P. Bessant; Helen B. Eggers; Walter B. Elcock; Janet Lamkin; Joel L. Price; Frances Aldrich Sevilla Sacasa; Richard K. Struthers
990 report(s):View ReportView ReportView Report   (Requires Adobe Acrobat).
NTEE Code(s): ART, ED, ENV, HEA, HS, POP, PUB
Business notes: Bank of America Corporation (BoA or 'the company') is one of the world's largest financial institutions. It serves individual consumers, small businesses and large corporations with a range of banking, investing, asset management and other financial products and services. The company primarily operates in the US, Latin America, Europe and Canada. BoA is headquartered in Charlotte, North Carolina and employs 243,000 people. The company recorded revenues of $72,782 million in the financial year ended December 2008, an increase of 8.9% over 2008. The operating profit of the company was $4,428 million in the financial year 2008, a decrease of 78.8% over 2007. The net profit was $2,556 million in the financial year 2008, a decrease of 82.7% over 2007.
Takeaway Notes: ~ Largest banking philanthropy and one of the largest corporate giving programs in the US ~ Prefers education programs, but also gives to variety of other community programs, including arts and community development ~ CRA requirements ~ Merger with FleetBoston may change priorities slightly. Banking Industry

Giving by Interest Area:

  • Community Development - 34 %
  • Education and Youth Development - 29 %
  • Health and Human Services - 18 %
  • Arts & Culture - 16 %
  • Environment - 3 %

Overview: In 2009, Bank of America will begin delivering on a new 10-year, $2 billion charitable giving goal to address critical needs in our communities. Our support includes, but is not limited to, the following initiatives:

1. The Neighborhood Excellence Initiative ™ - more than $20 million invested annually through the Bank of America Charitable Foundation's signature philanthropy program which recognizes Neighborhood Builders ™, Local Heroes ™ and Student Leaders® in 44 domestic markets and London.

a. Neighborhood Builders™
We fund $200,000 (or local market currency equivalent) for operating support to 2 nonprofit/charitable organizations in each of 45 markets.

b. Local Heroes™
We donate $5,000 (or local market currency equivalent) to an eligible charitable nonprofit/charitable organizations, selected by each of 5 Local Heroes in 45 markets.

c. Student Leaders®
Five high school juniors and seniors in 45 markets participate in a leadership summit in Washington, DC and a paid internship with a local nonprofit/charitable organization.

2. Local Grants Bank of America’s local grant making activities can — and do — vary, depending on what your local community needs. Our local market presidents and their teams develop relationships with other community leaders to determine the best use of philanthropic dollars in each community.

The majority of our local grant making programs has no deadline; applications are reviewed throughout the year at regularly scheduled local market leadership meetings. To be considered for a local grant, your organization:

~ Must be tax-exempt under section 501(c)(3) of the Internal Revenue Code and not classified as a private foundation
~ Must be based and serve communities in these markets
~ Should be aligned with funding priorities for those markets

3. National Grants - more than $158 million in 2007 donated in support of organizations such as the United Way and Habitat for Humanity International. Same basic criteria as the local grants

4. Matching Gifts - more than $21 million donated to nonprofits receiving charitable contributions from our associates. The Bank of America Charitable Foundation matches all associate gifts to eligible nonprofit organizations dollar-for-dollar up to $10,000 each calendar year.

5. Community Anchors/Economic Drivers: In great, vibrant communities, you find not only strong nonprofits, stellar leaders, and healthy, active businesses, but also what we call anchor institutions — those establishments that are economic drivers, that provide much of the underpinning for creating a culture of growth:

~ Arts and cultural institutions such as museums, zoos, and performance halls that lend vibrancy to a community’s makeup
~ Colleges, universities, and community colleges that attract and educate the workforce
~ Hospitals that provide excellent healthcare

Investing in these institutions that are considered "anchors" helps our neighborhoods develop intellectual, human, and physical capital to strengthen the communities in which we — and you — live and work.

Bank of America’s local leaders, working within their communities, look for opportunities to support community stakeholders — opportunities that will further economic and community development, that will do more than put bricks and mortar on your block. When we find those opportunities, we invite anchor institutions to apply for a grant.

Major Areas of Interest

1. Arts & Culture

• Community Needs
Communities thrive when economic, social and environmental factors combine to create vitality and growth. Arts & culture institutions help sustain and develop vital and healthy neighborhoods by providing creative and healthy opportunities to learn, experience the world around us, and engage our hearts and minds in the uniquely human experience of reason, comparative and critical thought, creativity, beauty and truth. They can enhance a sense of community among people who share an arts experience or gathering. In addition, arts institutions can provide valuable economic resources to communities through tourism and employment.

• Funding Strategy
In light of the Bank of America Charitable Foundation’s focus on strengthening communities through a strategy of neighborhood excellence and our commitment to improving the economic and social well-being of the communities we serve, support of arts and cultural institutions and their offerings are a natural focus area for our corporate social responsibility efforts.

• Funding Opportunities
The following areas should be considered for funding under the Arts and Culture Focus Area:

 Growth and expansion plans for expanding services either geographically or with content, creating jobs, increasing outreach abilities and visitor traffic and revenue
 Arts education programs on the premises or through community partners and/or schools for people of all ages and economic means
 Access programs that make the arts more convenient or less expensive to enjoy and learn from: for the general public, for school children, for low- and moderate-income populations, for the elderly
 Preserving materials, records, or institutions themselves that serve the public and contribute to the character and historical foundation of a community
 Supporting access to special arts-related events that serve the public or the community generally and enhance community involvement and assimilation
 Arts and culture has a very broad meaning. Arts institutions may focus their offerings and education on the visual arts, performing arts, architecture, or literature.
 Programs and exhibitions connected to environmental initiatives

2. Community Development/Neighborhood Preservation

• Community Needs
Repercussions from the ongoing housing crisis continue to hamper the economic health and vitality of the neighborhoods we serve. Additionally, reduced government funding at the Federal, State and Local level creates further challenges to nonprofit organizations and their ability to serve the growing needs of low- and moderate-income individuals and families. Assisting those who face the loss of their home as well as those seeking affordable housing alternatives remains a priority in many communities. We recognize the need to preserve not only the economic assets of communities but to also help the low- and moderate-income individuals affected by these economic forces.

• Funding Strategies
Our neighborhood excellence strategy seeks to direct resources to address critical issues facing our communities. Based on this approach, we will continue to provide local support of organizations focused on neighborhood preservation strategies as a priority in the communities we serve. Additionally we will continue to support a range of organizations creating significant community impact in the areas of financial self sufficiency for individuals and families, affordable housing, homeownership preservation, economic development and neighborhood revitalization.

• Funding Opportunities
Our local funding will support organizational capacity building, sustainability and program delivery of nonprofits providing the following needs to low- and moderate-income individuals and communities

 Affordable Housing — (organizational capacity building and program support of nonprofit organizations creating and/or preserving access to affordable single family and rental housing for low- and moderate-income individuals communities)
 Homeownership Counseling — (First time home buyer programs to low- and moderate-income clients)
 Neighborhood Preservation — (Support of non-profit organizations addressing homeownership preservation, foreclosure prevention and mitigation)
 Financial Stability- (Support of youth financial education programs delivering financial management knowledge targeting low- and moderate-income students K through college. Families and Individuals — support of local programs that help low- and moderate-income and underbanked individuals and families earn, save and build assets)
 Economic Development — (Capacity building and program support to nonprofits supporting small business development which create new business expansion and job growth in low- to moderate-income communities)
 Neighborhood Revitalization — (Placed based neighborhood revitalization efforts targeting low- to moderate-income neighborhoods
 Conservation and preservation programs
 Green coalitions — partner with community groups developing green practices and building “green coalitions”
Green community development programs
 Support the development of “open space” — parks/playgrounds in the urban core

3. Education

• Community Needs
Increasing a person’s knowledge and skill base increases their workforce potential and provides a positive path to economic self-sufficiency. Our nation’s ever increasing achievement gap and high dropout rates, continues to take its toll on the economic growth and vitality of our communities. Young people who drop out of school are more likely to depend on minimum wage jobs to survive, thrusting them into a cycle of poverty and a dependency on public welfare. Providing opportunities to increase the educational and developmental outcomes of each individual leads to financial independence and personal growth, which in turn, increases a community’s economic vitality.

• Funding Strategy
At the Bank of America Charitable Foundation, our goal is to focus on the educational continuum that prepares all students for personal and economic success. Our hope is that every child, regardless of socio-economic class, race or gender enters school ready to learn; successfully stays in school; and graduates on time. We partner with organizations that create positive culture change and make this challenge a reality though programs and services that provide educational and learning opportunities to ensure that all our children and young adults can reach their fullest academic and developmental potential. In addition, we encourage community educational safety nets that provide resources for students who have dropped out or individuals who need to increase their skills base.

• Funding Opportunities
The following areas can be considered for funding under the Education Focus Area:

 Early childhood development organizations/programs that focus on helping children enter kindergarten successfully
 Youth development and mentoring organizations/programs that increase skill base, personal fulfillment and civic engagement
 Organizations/programs that focus on civic or community engagement
 3k–12 educational organizations, foundations and programs that specifically address academic attainment
 Dropout prevention organizations/programs
 GED attainment programs through Community Colleges or other organizations
 Community College/Workforce development programs that help individuals train for higher skill level jobs
 Community College/Workforce development programs that promote green job training
 Education and outreach programs that focus on climate change and promote sustainable practices
 Community education partnership programs between local university/college and school systems or educational focused organizations

4. Health and Human Services

• Community Needs
The health and well being of each community relies heavily on stable economic, social and environmental factors. Lack of affordable health care and basic human services can adversely affect the “quality of life” in some of our most vulnerable neighborhoods. These quality of life issues are critical factors affecting the growth, vitality and sustainability of neighborhoods — large or small. Our continued partnership with key nonprofit organizations that assist families and individuals in need will help advance access to these services.

In light of the current economic climate and our efforts around “neighborhood preservation,” improving the economic and social well being of individuals, families and communities is a core component of our health & human services strategy. Through strong community partnerships, we will work to eliminate the disparities in health and human services and we will help to strengthen communities to be healthy places for all to live and work.

• Funding Strategy
Through our neighborhood excellence strategy, the Bank of America Charitable Foundation supports critical and relevant issues impacting our communities through local and national grant making activities. We will address the continuum of care for traditionally underserved populations by supporting and strengthening nonprofit organizations that seek to improve the health and well being of the most vulnerable in our communities. Programs and services that address basic health and human services will be given priority. Particular emphasis will be placed on culturally relevant organizations that address the diversity and demographic shifts in our communities.

• Funding Opportunities
The following program areas should be considered for funding under the Health and Human Services focus area:

 Access to affordable and quality healthcare — (community clinics and community based programs)
 Access to affordable childcare
 Access to affordable physical and mental health services
 Community based health and education outreach programs
 Environmental health programs that support efforts to improve the health of a community (clean air, water, pollution and land programs)
 Family support services — (programs/organizations that develop or rehabilitate a family or family environment that support physical, emotional and or social stability)
 Food and shelter programs — (food banks, soup kitchens, shelters for the homeless)
 Homeless and transitional services — (life skills and workforce development programs, job banks)
 United Way — (when unrestricted or directed to the community care/impact fund)

  • Arts & Culture:
  • Arts & Culture, Arts Education/Schools:
  • Arts & Culture, Community Arts Programs:
  • Arts & Culture, Cultural Heritage:
  • Arts & Culture, Literature:
  • Childcare:
  • Community Development:
  • Community Revitalization:
  • Crime/violence prevention:
  • Diseases/Disabilities General:
  • Economic & Community Development:
  • Education:
  • Education, Drop-Out Prevention:
  • Education, Early Childhood Education:
  • Education, Higher Education, Community Colleges:
  • Education, K-12:
  • Employment, Job Training:
  • Employment, Vocational education:
  • Employment, Workforce Development:
  • Environment:
  • Environment, Green Space:
  • Financial Education:
  • Food Banks:
  • Health:
  • Health & Human Services:
  • Health Care:
  • Health Care, Access:
  • Health Public Health, Promotion:
  • Health, Mental Health:
  • Housing, Architecture & Design:
  • Housing/Shelter, Affordable Housing:
  • Housing/Shelter, Homelessness:
  • Hunger:
  • Neighborhood Building:
  • Performing Arts:
  • Philanthropy & Voluntarism, United Way:
  • Visual Arts:
  • Visual Arts, Education:

Sample Grants
$ 50,000 to A Community of Friends , CA
$ 200,000 to ADA Abilities Scholarship , Taylors , SC
$ 5,000 to Abilities Network , Towson , MD
$ 5,000 to AbilityFirst , Pasadena , CA
$ 10,000 to Agricultural Education Foundation , Atascadero , CA
$ 5,000 to Albemarle Housing Improvement Program , Charlottesville , VA
$ 10,000 to All Saints Episcopal Hospital , Fort Worth , TX
$ 5,000 to Allied Arts Council of Yakima Valley , Yakima , WA
$ 25,000 to American Forests , Washington , DC
$ 10,000 to American Heart Association of Tennessee , Memphis , TN
$ 10,000 to American Heart Association of Virginia , Glen Allen , VA
$ 25,000 to American Heart Association, FL , Fort Lauderdale , FL
$ 20,000 to American Indian Business Leaders , Missoula , MT
$ 100,000 to American Indian College Fund , Denver , CO
$ 20,000 to An Achievable Dream , Newport News , VA
$ 5,000 to Ask Earthman Foundation , Palm Springs , CA
$ 25,000 to Baltimore City Police Foundation , Baltimore , MD
$ 5,000 to Barter Theatre , Abingdon , VA
$ 5,000 to Bellevue Schools Foundation , Bellevue , WA
$ 5,000 to Boise Public Schools Education Foundation , Boise , ID
$ 10,000 to BookEnds , West Hills , CA
$ 5,000 to Books for Kids , Seattle , WA
$ 12,000 to Botanica , Wichita , KS
$ 10,000 to Boys & Girls Clubs Group Homes and Shelter , Silver Spring , MD
$ 7,500 to Bridges Program - Baltimore Community Foundation , Brooklandville , MD
$ 15,000 to Bright Beginnings , Washington , DC
$ 25,000 to CHOICES Education Group , Seattle , WA
$ 120,000 to California Coalition for Rural Housing , Sacramento , CA
$ 15,450 to California Environmental Dialogue , San Francisco , CA
$ 25,000 to Care and Counseling Center of Georgia , Decatur , GA
$ 5,000 to Carpenter's Shelter , Alexandria , VA
$ 25,000 to Carrie Steele-Pitts Home , Atlanta , GA
$ 10,000 to Center for Community Service Fund , Seattle , WA
$ 10,000 to Center for Developmental Services , SC
$ 5,000 to Center for Native & Urban Wildlife , Scottsdale , AZ
$ 10,000 to Chandler Public Library , Chandler , AZ
$ 15,000 to Cherokee Childrens Home , Gaffney , SC
$ 10,000 to Child Advocates , Houston , TX
$ 5,000 to Children's Home Society of Idaho , Boise , ID
$ 10,000 to Citizens for Community Values , Atlanta , GA
$ 10,000 to Clark County Public Education Foundation , Las Vegas , NV
$ 5,000 to Communities in Schools of Richmond , Richmond , VA
$ 5,000 to Community Family Life Services (CFLS) , Washington , DC
$ 5,000 to Community Lodgings , Alexandria , VA
$ 50,000 to Conservation International , Washington , DC
$ 10,000 to Determined to Win , Boise , ID
$ 5,000 to Dyslexia Tutoring Program , Baltimore , MD
$ 20,000 to First Nations Oweesta Corporation , Fredericksburg , VA
$ 10,000 to Four Times Foundation , Red Lodge , MT
$ 25,000 to Friends of the Capital Theatre , Dover , DE
$ 12,500 to Gatchell Home , Atlanta , GA
$ 10,000 to Greene County Library , Stanardsville , VA
$ 10,000 to HOPE Rehabilitation Services , CA
$ 10,000 to Health Care Center for the Homeless , FL
$ 10,000 to Hough Foundation , Vancouver , WA
$ 10,000 to Huntington Hospital , CA
$ 614,000 to Inroads of Hartford , Hartford , CT
$ 5,000 to Interfaith Hospitality Network of Truckee Meadows , Sparks , NV
$ 27,500 to Lighthouse Community Service , Newark , NJ
$ 10,000 to Maryland Food Bank , Baltimore , MD
$ 10,000 to Matthews Public Library , Matthews , NC
$ 10,000 to Mercy Housing of Idaho , Nampa , ID
$ 10,000 to Mothers Against Drunk Driving (MADD) , Dallas , TX
$ 1,000,000 to Music Center of Los Angeles County , Los Angeles , CA
$ 16,000 to Naples Community Hospital , FL
$ 24,500 to Nashville Public Library , Nashville , TN
$ 10,000 to National Alliance to End Homelessness , DC
$ 985,000 to National Council on Economic Education , New York , NY
$ 25,000 to National Environmental Education & Training Foundation , Washington , DC
$ 5,000 to National Marrow Donor Program , Minneapolis , MN
$ 10,000 to Navajo Missions, Four Corners Home for Children , Farmington , NM
$ 7,000 to Nevada Fair Housing Center , Las Vegas , NV
$ 5,000 to Nevada Hispanic Services , Reno , NV
$ 15,000 to Olive Crest Homes and Services for Abused Children , Santa Ana , CA
$ 7,500 to Paraquad , St. Louis , MO
$ 20,000 to Phoenix Memorial Hospital , AZ
$ 10,000 to Portland Relief Nursery , Milwaukie , OR
$ 60,000 to Regional Housing and Community Development Alliance , Saint Louis , MO
$ 10,000 to Regional IV Development Association , Twin Falls , ID
$ 10,000 to Roadrunner Food Bank , NM
$ 5,000 to Rocky Mountain Institute , Snowmass , CO
$ 20,000 to Rose Brooks Center , Kansas City , MO
$ 250,000 to Science Museum of Minnesota , St. Paul , MNUSA
$ 10,000 to Selbyville Public Library , Selbyville , DE
$ 15,000 to Special Olympics of Georgia , Atlanta , GA
$ 5,000 to Valley Boys & Girls Clubs , Lewiston , ID
$ 24,044 to Vogel Alcove Childcare Center for the Homeless , TX
$ 2,500 to Yavapai Regional Medical Center , Prescott , AZ

Application Procedures:: Determine the funding priorities and deadlines for which your organization may apply. Fill out the appropriate online applications.

Letters from local bankers or from local authorities to local Bank of American bankers are not necessary, but will help if you're not well known to local BofA authorities.

Grants Paid

1998
1998
($91,500,000 )
1999
1999
($91,000,000 )
2000
2000
($95,701,850 )
2001
2001
($95,701,850 )
2002
2002
($80,528,432 )
2003
2003
($85,406,589 )
2004
2004
($108,709,537 )
2005
2005
($130,000,000 )
2006
2006
($144,833,778 )
2007
2007
($188,236,685 )
2008
2008
($204,502,934 )

 

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