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Commitment Over the Next Five Years Includes $5 Million of Immediate Assistance for Families in Local Communities Across the U.S.
Bank of America today announced a $250 million commitment over the next five years to support families and individuals experiencing food insecurity and other basic needs in communities nationwide. This investment builds on the company's long-standing support in this area, as it currently provides annual philanthropic funding to more than 1200 organizations that focus on combatting hunger and other related needs.
As part of its new commitment, Bank of America will deliver $5 million to nearly 100 nonprofit organizations currently addressing urgent food needs for individuals and families. This move will help ensure these organizations can address increasing needs at the local level.
"Our ongoing commitment to the needs of the local communities where we work and live is foundational to who we are at Bank of America," said Sheri Bronstein, Chief People Officer at Bank of America. "We work closely with food banks, food pantries, and other basic needs-focused organizations every day, and this new commitment builds on decades of giving, volunteering, and partnership."
In addition to philanthropic support, Bank of America employees plan to volunteer more than 100,000 hours between now and the end of the year to assist organizations focused on hunger relief and other critical services. Bank of America will also match employee contributions, dollar for dollar, to organizations focused on combatting hunger in the communities it serves.
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million consumer and small business clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
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Reporters may contact
Carla Molina, Bank of America
Phone: 1.512.397.2402
carla.molina@bofa.com
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SOURCE Bank of America Corporation
