Addressing Critical Community Needs, Part of a 10-Year, $2 Billion Commitment
Jul 01, 2010
As we entered the first year of our 10-year, $2 billion philanthropic commitment, we recognized the needs that nonprofits were facing due to the economic downturn. So, early on, the Bank of America Foundation reaffirmed its 2009 target of $200 million in philanthropic giving. And, in 2009, we exceeded that amount in helping nonprofits across the country continue to address community and social needs.
Last year, some of our safety net grants included relief for Feeding America, Meals on Wheels and Save the Children. The $500,000 to Meals on Wheels went to help support senior nutrition providers as they provide meals to homebound seniors across the country. The $500,000 to Save the Children was given to help provide healthy snacks and nutrition education to children living in poverty in rural areas in the U.S. And the $1 million grant to Feeding America, the nation’s largest hunger relief provider, was made so that families struggling under economic pressures would have additional access to food assistance.
According to Vicki Escarra, President and CEO of Feeding America, “The goals of Feeding America and the goals of Bank of America are aligned. We both have similar values, and that is we believe in the importance of healthy communities. And so to have a company like Bank of America be willing to really step up and help through volunteering, through financial donations and through public awareness is quite phenomenal.”
Recognizing that communities and local economies can’t thrive unless basic human needs are met, we will continue to support the organizations that deliver healthcare, job training, hunger relief, shelter and childcare services that are essential to the health of our communities. In 2010, the goal is to focus on both immediate relief and longer-term solutions in response to these ongoing challenges.
Bank Associates Act Locally, Give Generously
Last year, despite challenging economic times, associates responded generously to the bank’s America United Way Campaign, donating $24.5 million to help serve those in need in local communities across the country. A longstanding partner with the United Way, Bank of America consistently ranks among the top 10 corporate donors supporting critical local needs through associate donations, local giving and corporate support. In addition to the financial donations contributed during the campaign, associates volunteered in food banks, taught financial education and assisted other critical-needs service providers in their communities.