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 basic human services, 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 2014, the Bank of America Charitable Foundation will issue three requests for proposals (RFPs) on the priority focus areas of:

  • Jobs: Workforce development and education (Application period now closed) More details
  • Housing: Community development (Application period now closed) More details
  • Hunger: Basic human services (Application period now closed) More details

Jobs: Workforce development and education

Our nation’s unemployment rate, including the unprecedented high teen unemployment rate, and the skills mismatch for 21st century jobs continue to hinder economic progress. That’s why we support workforce development and education through empowerment, education and employment opportunities. We are focused on helping underserved young adults and adults succeed academically, develop and hone job skills, learn better money habits, and obtain and keep livable wage jobs. Through our funding, we connect individuals to the training and education they need in order to succeed.


Jobs: Workforce development and education funding priorities:

Job readiness: Preparing unemployed and underemployed individuals, including veterans and the disabled, to obtain jobs, keep jobs, and earn a livable wage.

Examples:

  • Community and vocational college opportunities: Traditional or accelerated degree, credential or certification programs leading to employment
  • Skill development: Job training and retraining programs with comprehensive supportive services for individuals facing challenges entering or reentering the labor force. Support services include personal financial management skills, career counseling, interview skills, resume-building, case management, etc
  • Better money habits: Programs providing ongoing financial education and coaching to empower adults to make healthy financial choices that will lead them to economic success
  • Supporting social enterprise and small business: Providing technical assistance to create, expand, and sustain social enterprises and small businesses, which in turn builds their capacity to create and retain jobs

Next generation: Connecting young people to skills and educational opportunities with an emphasis on those who are facing unprecedented challenges obtaining employment and work experience.

Examples:

  • High school and college matriculation and graduation: Opportunities that help students move from middle to high school and high school to post-secondary success (including at the community college level)
  • Skill development and job training: Programs that provide soft and hard skill training coupled with opportunities for cross-sector career exposure including social enterprise jobs, service and community engagement opportunities, internships and apprenticeships
  • Better money habits: Empowering the next generation with tools and support to learn better money habits and become financially capable resulting in greater chances of success in school and career
  • Mentoring: Programs connecting the next generation to committed and caring adults for structured, ongoing relationships that support high school and college success as well as soft and hard skill development

Housing: Community development

Access to affordable, stable housing continues to be a struggle for many families in communities large and small across the country. Yet, stable housing equals: better family health, better educational outcomes, and economic progress and financial stability for families.

In response, we fund programs focused on creating and preserving affordable housing and homeownership opportunities, foreclosure counseling and mitigation, real-estate owned (REO) disposition and programs that help individuals and families create better money habits and become more financially capable. Additionally, we recognize that communities benefit from large institutions such as arts and culture venues and hospitals that are economic drivers for employment and contribute to the overall vitality of the community. We fund these types of institutions to help enrich the community and advance overall community revitalization.

In 2014, the Bank of America Charitable Foundation will issue a community development request for proposals (RFP) on April 21 and will accept applications through May 9.

Housing: Community development funding priorities:

Preserving neighborhoods: Addressing the housing continuum by increasing access to affordable housing and homeownership opportunities, preparing future homeowners, helping individuals and families move toward financial stability and helping distressed individuals and families stay in their homes.  

Examples:

  • Accessing affordable housing: Programs that construct or rehab single- or multi-family affordable housing units
  • Preparing future homeowners: Housing counseling focused on pre/post home purchase
  • Homeowner retention: Foreclosure prevention and loss mitigation programs
  • Promoting financial stability: Credit repair counseling, debt management programs, asset building services
  • Transitioning REO properties: Programs that acquire and rehab abandoned or dilapidated residential units

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

Example:

  • Supporting the revitalization of an arts center that will be an economic driver in the community.

Hunger: Basic human services

Individuals continue to struggle to provide basic necessities for their families. Our philanthropic support will help them at their point of need, from food and shelter, to addressing financial stability issues facing low-income communities and providing access to benefits and resources.

In 2014, the Bank of America Charitable Foundation will issue a Hunger: Basic human services request for proposals (RFP) on July 21 and will accept applications through August 8.

Hunger: Basic human services funding priorities:

Hunger relief: Providing access to critical food supplies and services to feed individuals, children and families

Examples:

  • Hunger relief: Local food banks, soup kitchens, school- and after-school-based child feeding and nutrition programs, etc.
  • Food access: Food deserts, green/fresh food and produce availability, etc.

Emergency shelter: Providing access to emergency shelter and supportive housing for vulnerable individuals and families

Example:

  • Homeless shelters, halfway houses, transitional housing, group homes, etc.

Benefits access and referrals: Transitioning financially-distressed, low-to-moderate income individuals and families towards financial stability through bundled services in two core areas: access to benefits and support resources and financial coaching for better money habits.

Example:

  • Place-based benefits access points and one-stop hubs which offer a variety of critical services to individuals and families who want to build stronger financial lives that will enable them to build toward self-sufficiency. Examples include integrated services at one-stops, homeless day centers, family resource centers, comprehensive family support services, provider collaboratives, etc.