Home  /  Global Impact  /  Charitable Foundation Funding Opportunities
Print this article E-Mail this article Share this article

Bank of America Charitable Foundation Funding Opportunities

In response to pressing challenges facing individuals and families across the country, Bank of America is lending, investing and giving to help create economically vibrant communities that are better places in which to live and do business. The Bank of America Charitable Foundation provides philanthropic support to address needs vital to the health of our communities through a focus on preserving neighborhoods, educating the workforce for 21st century jobs and addressing critical needs, such as hunger. In order to create greater impact, we leverage a powerful combination of local and national funding and volunteerism, both addressing the needs of the community and supporting the passion of our employees. These activities help create a ripple effect of positive change and economic stability in communities across the country.

In 2013, the Bank of America Charitable Foundation will issue three requests for proposals (RFPs) on the priority focus areas of:

  • Workforce Development/Education (Application period: January 22—February 15)
  • Community Development (Application period: April 15—May 10) 
  • Critical Needs (Application period: July 8—August 2) 

 Bank of America's Philanthropic Focus Areas

Workforce Development and Education

Connecting individuals to employment opportunities is a key component contributing to each community’s economic growth. That’s why we are supporting workforce development and educational opportunities that help small businesses and individuals, including youth, the unemployed, and underserved such as veterans and the disabled, obtain the training and education that lead to post-secondary completion, employment and stronger small businesses.

In 2013, the Bank of America Charitable Foundation will issue a Workforce Development and Education request for proposals (RFP) on January 22 and will accept applications through February 15.
Workforce Development and Education Funding Priorities:

High School Graduation and Post-Secondary Access: Preparing underserved middle and high school students for on time grade promotion and graduation with the education and life skills needed to access post-secondary educational opportunities.

High School Graduation and Post-Secondary Access Examples:

  • Removing Barriers to post-secondary access for underserved students: Opportunities that include transitional programs that help students move from middle to high school and high school to post-secondary, FAFSA and college application assistance, SAT/ACT access and prep, tutoring, early college credits. 
  • Developing Career Leadership and Skills: Opportunities that increase civic and community engagement career exploration and youth employment, personal financial management skills, life-skill and soft-skill development.
  • Mentoring or Coaching Opportunities: Structured, ongoing relationships that develop the learning, life and career potential of a middle school, high school or young adult mentee for a minimum of six consecutive months and at least four hours per month.

Post-Secondary Completion: Supporting underserved individuals through post-secondary opportunities with a focus on community or vocational colleges that offer a degree, certification or credential that leads to career and workforce success.

Post-Secondary Completion Examples:

  • Providing community and vocational college opportunities: Traditional or accelerated degree, credential or certification programs.
  • Providing on-the-job work experience: Apprenticeships, internships, learning labs, transitional employment, etc., tied to completion programs.
  • Removing barriers to success for underserved students: Support services, non-traditional financial assistance programs, mentoring, personal financial management skills and programs that build work history for students with little to no work experience.

Job Readiness for Unemployed and Underemployed: Preparing unemployed and underemployed individuals for livable wage jobs and providing employment opportunities for the chronically unemployed.

Job Readiness Examples:

  • Building fundamental work skills: Job training programs with comprehensive supportive services for individuals facing significant life barriers and challenges to entering the labor force.
  • Building pathways to a livable wage job: Fast-track training and job retraining for unemployed/underemployed.
  • Preparing for the workforce: Career counseling, personal financial management skills, interview skills, resume-building, case management and other relevant supportive services.

Small Business Support: Providing business training and technical assistance to create, expand and sustain small businesses, which in turn builds their capacity to create and retain jobs.

Small Business Support Examples:

  • Increasing the capacity of small businesses and microenterprises: Training and technical assistance opportunities that provide tools and resources to entrepreneurs to grow and create jobs.

 

Community Development

Housing remains a pressing issue in communities across the country. In response, we fund programs focused on foreclosure counseling and mitigation, real-estate owned disposition and affordable housing. In conjunction, we support financial education and coaching as well as other financial empowerment programs that help individuals become more financially capable and that lead to long-term neighborhood stability. Recognizing that large organizations, such as arts institutions and hospitals, act as economic catalysts in communities, we fund programs that help advance overall community revitalization.

In 2013, the Bank of America Charitable Foundation will issue a Community Development request for proposals (RFP) on April 15 and will accept applications through May 10.

Community Development Funding Priorities:
Preserving Neighborhoods: Addressing the housing continuum by helping distressed individuals stay in their homes and move toward financial stability; preparing future homeowners; and increasing access to affordable housing.

Examples:

  • Assisting in Homeowner Retention: Foreclosure prevention and loss mitigation programs.
  • Promoting Financial Stability: Credit repair counseling, debt management programs and asset building services.
  • Transitioning REO Properties: Programs that acquire and rehab abandoned or dilapidated residential units.
  • Accessing Affordable Housing: Programs that construct new single- or multi-family affordable housing units.
  • Preparing Future Homeowners: Housing counseling focused on pre/post home purchase.


Revitalizing Communities: Driving economic development through support of organizations and initiatives that contribute to the vitality and livability of communities.

Examples:

  • Supporting the Economic and Cultural Vibrancy of Communities: Supporting large infrastructure nonprofits and cultural institutions that provide economic opportunity and contribute to the vitality and livability of communities.
  • Comprehensive placed based revitalization: Activities leveraging public/private Investment and community partnerships.

 

Critical Needs

Individuals continue to struggle to provide basic necessities for their families. Our philanthropic support is focused on helping these individuals at their point of need, from immediate human needs such as food and shelter, to addressing financial wellness and stability issues facing low-income communities such as access to benefits and resources.

In 2013, the Bank of America Charitable Foundation will issue a Critical Needs request for proposals (RFP) on July 8 and will accept applications through August 2.

Critical Needs Funding Priorities:

  • Hunger Relief/Food Access: Providing access to critical food supplies and services to feed individuals, children and families.
    Examples:
    • Providing Hunger Relief: Local food banks, soup kitchens, school- and after-school-based child feeding and nutrition programs, etc.
    • Assisting with Food Access: Food deserts, green/fresh food access, etc.
  • Emergency Shelter/Supportive Short-Term Housing: Providing access to emergency shelter and supportive housing for individuals and families.
    Examples:
    • Homeless shelters, halfway houses, group homes, etc.
  • Benefits Access and Referrals: Transitioning individuals and families to financial stability by providing access to integrated wraparound services.
    Examples:
    • One-stops, homeless day centers, family resource centers, comprehensive family support services, integrated service delivery systems, provider collaboratives, etc.