Deadline: 26-Jun-2020
The Bank of America Charitable Foundation is seeking applications for Economic mobility focused on the needs of the community by addressing economic development and social progress.
Category
Expanding Access to Housing Opportunities
Access to affordable housing remains a significant challenge in all the communities. For many, it is becoming further out of reach with more than 18 million households paying more than 50% of their income for housing. That’s why they support non-profit organizations as they work to preserve, and increase access to a mix of affordable housing options and connect low- and moderate- income individuals and families with the tools and resources to achieve their financial goals.
Examples:
- Housing efforts addressing the needs of vulnerable populations (e.g. low- and moderate- income, homeless, elderly, formerly incarcerated) as they construct or preserve affordable single-, multi-family, transitional and supportive housing
- Creating pathways to stable housing or homeownership through financial stability efforts such as homebuyer education, budgeting, savings, credit and credit repair, including foreclosure prevention and loss mitigation
- Sustainable development efforts creating healthy living environments through the pursuit of energy efficiency upgrades, retrofits, solar and other green building efforts
Building Vibrant Communities
Vibrant communities are places where individuals can thrive and succeed and have the opportunity to live and work with safe, decent housing, transportation to jobs, strong business corridors and thriving arts and culture districts. All of these are essential to an individual’s overall economic mobility. For this reason, they support local and regional revitalization efforts that take a holistic approach to building thriving communities and creating economic opportunity and livableneighbourhoods. This includes support of economic drivers such as arts and cultural institutions that contribute to the overall vitality of the community.
Examples:
- Economic development efforts that promote small business growth and healthy commercial corridors
- Revitalization and place-based initiatives that engage community stakeholders in the environmental health and economic growth of their communities (e.g. Choice Neighbourhoods; Opportunity Zones; transit-oriented development; and connecting individuals to jobs, services, schools, and economic opportunity.)
- Funding to support neighbourhood preservation efforts which strengthen overall community health, safety and welfare.
- Supporting the construction of vital community facilities (e.g., affordable health and treatment centers) delivering critical services to the community’s most vulnerable residents
- Strengthening the resiliency of communities through the initiatives that support local plans to prepare, withstand and recover from extreme weather events and the long-term impacts of climate change
- Supporting community arts and cultural institutions that provide economic opportunity and contribute to the vitality and livability of communities
- Supporting community greening efforts that create healthy neighbourhoods and environmental sustainability through the preservation, creation or restoration of open space, parks and community gardens
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 find out if your organization is eligible, please refer to the criteria below:
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
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 https://about.bankofamerica.com/en-us/global-impact/charitable-foundation-funding.html
