Bank of America Charitable Foundation Philanthropic Strategy in the US

Deadline: 18-Feb-22

The Bank of America Charitable Foundation is seeking applications for Economic mobility focused on the needs of individuals and families.

Categories

• Basic Needs: Coronavirus has had a significant impact on all populations and a disproportionate impact on vulnerable populations who have experienced increased unemployment and higher levels of infection. As they emerge from this crisis, they are focused on health and economic recovery. In response, they’re partnering with organizations addressing the economic and social conditions that affect an individual’s health, access to community-based health services, crisis-prevention tied to family stabilization programs, and other poverty related issues.
  • Examples:
    • Access to healthcare and food– services that improve health outcomes with an emphasis on hunger relief and access to nutritious food, community-based healthcare, mental health counseling and substance use disorder treatment and rehabilitation.
    • Family stabilization– access to crisis prevention programs and wrap services including help with immediate and safe shelter, free or subsidized benefits like internet access, utilities, childcare, transportation, financial assistance and recovery.
    • Services for the homeless– programs that prevent or end homelessness, such as emergency shelter, rapid-rehousing, rental and utility assistance and permanent supportive housing.
• Workforce Development & Education: Employment is a key driver of economic mobility. That’s why they’re focused on building pathways to employment by supporting a range of workforce development opportunities, including education, upskilling and reskilling programs – meeting people where they are so that individuals and families can advance.
  • Examples:
    • Youth employment– high-school completion programs, skills-training (hard and soft skills), first-time employment, internship, apprenticeship, and mentoring.
    • Alternative pathways for adults– job preparedness, training, skills-building, college or vocational certification, career counseling, ESL education and training, entrepreneurship opportunities, and job placement and retention.
    • Barriers to employment– organizations that help individuals overcome barriers to employment (individuals with disabilities, the formerly incarcerated, foster care youth, individuals living in extreme poverty) through training, support services, and housing.
    • National service– national service opportunities for people to make a positive impact on their communities while developing marketable skills for employment.

Funding Information

Grant amounts vary by market and organization size. If you have previously received a Bank of America Charitable Foundation grant, an amount in that same range is a good starting point. While there are local variations, as a general guide, grant amounts in larger markets can range from $5,000 to $50,000. Grant amounts in smaller markets can range from $2,500 to $25,000.

Eligibility Criteria

To be considered for a local grant, your organization:

• Met be tax-exempt under section 501(c)(3) of the Internal Revenue Code and not classified as a private foundation
• Must be based and serve communities in these markets

Ineligible

The following organizations are not eligible for funding:

• They do not provide funding to any organization that discriminates based on race, religion, color, sex, sexual orientation, gender identity, age, national origin, ancestry, citizenship, veteran, or disability status, or espouses hate.
• Individuals, including those seeking scholarships or fellowship assistance
• Political, labor, fraternal organizations, or civic clubs
• They do not provide general funding to any organization whose purpose is to promote or to discourage the observance or proselytization of religious beliefs. However, they will support such organization’s funding of homeless shelters, soup kitchens or other social service needs. The organization may be asked to provide proof of the community project receiving funding.
• Individual pre-K-12 schools (public or private)
• Sports, athletic events, or athletic programs
• Travel-related events, including student trips or tours
• Development or production of books, films, videos, or television programs
• Memorial campaigns

For more information, visit Bank of America Charitable Foundation.

For more information, visit https://about.bankofamerica.com/en/making-an-impact/charitable-foundation-funding