Helping to grow the evolving market for social impact investing is an important part of Bank of America’s mission. That’s why the Bank of America Charitable Foundation awarded more than 50 nonprofits in Miami approximately $1.7 million in grants in 2015, as an investment in the community’s economic vibrancy.
The Patricia and Phillip Frost Museum of Science, a longstanding community partner of Bank of America, received $500,000, and the 2015 Neighborhood Builders recipients — Educate Tomorrow and Branches Inc. — each received $200,000 in flexible funding.
The Patricia and Phillip Frost Museum of Science grant supported the “Campaign for Frost Science,” helping to fund construction for the museum’s new facility at downtown Miami’s Museum Park, opening fall 2016.
Bank of America’s nonprofit partners are essential to the local communities, helping provide educational opportunities for community members including students and the elderly. They also help provide financial education, and assist with critical needs like housing and hunger – all part of the bank’s commitment to helping neighbors and building thriving local economies.
“These organizations do an incredible amount, but it takes collaboration and support from both the private and public sector to help them build thriving communities that positively impact us all,” said Gene Schaefer, Bank of America Miami market president. “I’m moved by the passion and dedication of those who lead Miami’s nonprofits and see the results of their efforts on a daily basis, including the dedication of the number of committed volunteers who contribute not only funding, but their time and skills to nonprofits.”
The bank’s philanthropic mission also extends to its employees, who have donated more than 7,000 volunteer hours to nonprofit organizations in Miami as part of the company’s annual goal to donate 2 million volunteer hours nationally. Additionally, the bank supports employee giving to qualifying charitable organizations through the Foundation’s Matching Gifts program.