Deadline: 24-Jun-22
The Bank of America is inviting applications for Economic Mobility focused on Needs of Community.
Categories
Economic Mobility focused on needs of community:
- Affordable Housing
- The current environment has underscored the importance of safe, decent housing for an individual’s overall well-being, including health, educational success and future employment opportunities.
- Examples:
- Housing development for vulnerable populations through the construction or preservation of affordable single, multi-family, transitional and supportive housing.
- Minority homeownership programs
- Pathways to stable housing or homeownership through financial habits and stability efforts such as homebuyer education, budgeting, savings, and credit counseling including eviction and foreclosure prevention.
- Sustainable development efforts creating healthy living environments through energy efficiency upgrades, retrofits, solar and other green building efforts.
- Small Business
- Small Businesses play an important role in the overall health of the nation’s economy. In response to the challenges small business owners face in today’s environment, they are supporting nonprofits assisting entrepreneurs especially minority and indigenous owned, as they address their short term needs and strengthen their overall recovery.
- Examples:
- Technical assistance supporting business planning (short and long term).
- Operational capacity of CDFIs delivering essential growth capital to entrepreneurs.
- Supporting organizations assisting minority-owned small businesses.
- Creating business incubators and accelerators that provide mentorships, resources, and networks entrepreneurs need to launch, fund and grow their businesses.
- Assisting economic development efforts that promote small business growth and healthy commercial corridors. (e.g. Mainstreet).
- Neighborhood Revitalization
- 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.
- Examples:
- Revitalization, preservation, and stabilization initiatives that engage community stakeholders in building livable communities.
- Transit-oriented development efforts that connect individuals to jobs, services, schools, and economic opportunity.
- Community arts and cultural institutions that provide economic opportunity and contribute to the vitality and livability of communities.
- Resiliency of communities supporting short and long term plans to prepare, withstand and recover from extreme weather events and the long-term impacts of climate change.
- Environmental efforts through the preservation, creation or restoration of open space, parks and community gardens.
- Supporting organizations/initiatives that bring energy efficiency and renewable energy advances to LMI/BIPOC communities.
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:
- Must 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
- Should be aligned with the funding priorities of community development, education and workforce development and critical needs.
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 https://about.bankofamerica.com/en/making-an-impact/charitable-foundation-funding