At Bank of America, we’re guided by a common purpose to help make financial lives better. Through our focus on Responsible Growth, we deliver for our teammates, clients and shareholders, while addressing economic mobility and social progress focused on the needs of the community. We drive meaningful and sustainable progress to help address society’s biggest challenges by aligning all our resources – including our financing, our client products and services, our philanthropy and how we manage our own activities.
As part of this work, we develop strong partnerships with nonprofit organizations focused on issues fundamental to economic mobility in low- and moderate-income communities. We focus on improving the lives of individuals and families by investing in health, jobs, and strengthening broader community vitality by addressing needs related to small business resiliency, and community development.
Through our partnerships, we support vulnerable populations, including working families, youth, seniors, individuals living with disabilities, veterans, and those impacted by the criminal justice system – enabling them to move forward in their goals.
In 2024, the Bank of America Charitable Foundation will issue two requests for proposals (RFPs):
Health
Too many communities across the United States do not have equal access to what is needed to live healthier lives. Within under-resourced communities, generations of lack of access to care and health resources have contributed to poorer health outcomes. We are focusing on programs and organizations who are working to address the economic and social conditions that influence family stability and an individual’s health, including access to quality community- based health services, crisis-prevention tied to family stabilization programs, and other poverty related issues.
Examples:
Jobs
Employment is a key driver of economic mobility. That’s why we’re focused on building pathways to employment by supporting a range of workforce development opportunities, including education, upskilling and reskilling programs that will help individuals and families stabilize and advance.
Examples:
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. Yet for many, access to affordable housing has become further out of reach while others struggle with the possibility of eviction, foreclosure and homelessness. That’s why we support the efforts of organizations working to preserve and increase access to a mix of affordable housing options as well as other essential assistance.
Examples:
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. We support local and regional revitalization efforts, taking a holistic approach to building inclusive communities, creating economic opportunity and livable neighborhoods.
Examples:
Small Business Resiliency
Small Businesses help drive economic mobility and generational wealth and play an important role in the overall health of our nation’s economy. In response to the challenges small business owners face, we’re supporting nonprofits assisting under-resourced entrepreneurs, including women and minority business owners, as they address their short-term needs and help them grow and scale.
Examples:
Through our eight lines of businesses, we focus on helping individuals navigate every stage of their financial lives, working with companies—large and small—to drive the economy forward, and providing insights, ideas and research for institutional investors.
Our approach to materiality is guided by our commitment to Responsible Growth and doing so in a sustainable manner, which helps us deliver returns to our clients and shareholders and help address society’s biggest challenges.
Building on our history of climate leadership, in 2021 we announced a commitment to achieve net zero emissions across our financing activities, operations and supply chain before 2050.
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Bank of America, N.A. Member FDIC. Equal Housing Lender
