Volunteer grants

Feb 14, 2013

Bank of America employees and retirees volunteer thousands of hours globally in our neighborhoods each year. In fact, more than 3,000 charitable organizations benefit from our employees and retirees’ dedication each year. To honor those who give their time and service to causes important to them, the Bank of America Charitable Foundation awards volunteer grants, which are up to $500 per employee or retiree for each calendar year and are made in the name of the employee or retiree, to eligible charitable organizations.

FEATURES

An unrestricted grant for volunteer work is made to any eligible nonprofit organization for which an employee or retiree has committed substantial volunteer hours within a calendar year.

  • For 50 hours of volunteer time within a calendar year, Bank of America Charitable Foundation will give a $250 grant.
  • For 100 hours of volunteer time within a calendar year, the grant is $500.

Volunteer Grants Program Rules:

  • Eligible US Charitable Organizations: Charitable organizations in the United States must be tax-exempt under section 501(c)(3) of the Internal Revenue Code and not be classified as a private foundation or certain types of supporting organizations. No other qualification process is required.
  • Eligible Non-US based Charitable Organizations

    • Charitable Organizations located in England or Wales must be registered with the Charity Commission.
    • Charitable organizations outside of the United States, England or Wales must be qualified as eligible for donations from CAFAmerica. Employees should search on the employee programs site to determine if the organization is included in that listing. The site also provides instructions for nominating organizations that are not currently on the eligible listing. (Further information regarding CAFAmerica can be found at the CAFAmerica website. Employees and retirees should NOT contact CAFAmerica regarding the qualification of organizations.)
  • Please review the eligibility criteria to understand further restrictions on certain types of organizations and programs as not all charitable organizations can be funded.
  • Employee Deadline - Employees and retirees will be notified of eligibility based on hours recorded on the volunteer website and must then complete an application. Employee and retirees volunteer hours must be recorded by January 31 after the year in which the hours were volunteered. Employees and retirees are responsible for asking the nonprofit to verify volunteer hours.
  • Organization Deadline - Organizations must verify hours by May 15 after the year in which the hours were volunteered.
  • Organizations and/or categories of service must adhere to the guidelines regardless of an employee or retiree registering hours volunteered.


  • Employees: To become eligible for a volunteer grant, start recording your hours here

    Nonprofits: Verify employee or retiree volunteer hours

ELIGIBILITY CRITERIA

Participants are:

  • Full-time and part-time benefit eligible employees
  • Retired employees from certain predecessor organizations
  • Active members of the Board of Directors of Bank of America Corporation

As of January 1, 2014 we will allow volunteer grants for athletic programs with a youth development component that have an impact on grades K-12 or the in-country equivalent.

The following organizations or categories of service are not eligible through this program:

If the organization receiving your donation falls within one of these bulleted items, please do not register for a volunteer grant as it is outside of policy guidelines.

  • Religious organizations (for example, churches and synagogues). Secular community service programs such as soup kitchens, shelters for the homeless, and job banks are eligible, even when sponsored by religious groups as long as they do not have a religious focus.
  • Organizations classified as private foundations by the Internal Revenue Code
  • Family foundations
  • Political organizations and activities
  • Fraternal organizations
  • Hours that would result in a donation that would benefit an employee, retiree, or a family member (for example, dinner, raffle, sporting event tickets, parking privileges, club dues, and any other direct services)
  • In order to be consistent and in recognition of our significant corporate support of United Way, hours of service to United Way are not matched.

Employee giving program review policy:

Bank of America regularly evaluates our programs to ensure the process adheres to stated guidelines and our commitment to corporate social responsibility, including random reviews of organizations receiving funds from our programs. Organizations selected for review will be required to provide documentation verifying receipt of individual donations for each participant.

Bank of America may suspend, change or terminate this program at any time. The interpretation, application and administration of the program shall be determined by the Board of Directors of the Bank of America Charitable Foundation Board, whose decision is final.

Make sure that you are familiar with these Volunteer Grant program rules. Failure to abide by these rules or providing any false or misleading information in connection with a volunteer grant request could result in disciplinary action up to and including termination, as well as possible civil or criminal liability. Bank of America reserves the right, in its sole discretion, to discontinue funding and to demand the return of the volunteer grant amount, or any portion thereof, and any income earned thereon, if you provide Bank of America with any false or misleading information or make any misrepresentations in connection with this request for a volunteer grant.

Employees: To become eligible for a volunteer grant, start recording your hours here

Nonprofits: Verify employee or retiree volunteer hours


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