Bank of America Charitable Foundation: Community DevelopmentDeadline: May 8, 2015
The Bank of America Charitable Foundation supports the needs vital to the health of communities through a focus on preserving neighborhoods, educating the workforce for 21st century jobs, and addressing basic human services. Through the 2015 Housing: Community Development RFP, Bank of America is combining its philanthropy and the expertise of its employee volunteers in support of affordable housing, neighborhood preservation, community revitalization initiatives, as well as the delivery of integrated services connecting individuals and families with financial education tools, resources, and benefits to achieve their financial goals. Focus areas include: 1) Preserving neighborhoods; and 2) Revitalizing communities.
Preserving Neighborhoods grants strive to increase access to affordable housing and homeownership opportunities, preparing future homeowners, helping individuals and families move toward financial stability, and helping distressed individuals and families stay in their homes. Funding examples include:
- Creating better money habits and financial stability: credit repair counseling, debt management programs, and asset building services
- Accessing affordable housing: programs that construct or rehab single- or multi-family affordable housing units
- Preparing future homeowners: housing counseling focused on pre/post home purchase
- Homeowner retention: foreclosure prevention and loss mitigation programs
- Transitioning REO properties: programs that acquire and rehab abandoned or dilapidated residential units
Revitalizing Communities grants strive to drive economic development through support of large institutions such as arts and culture venues and hospitals as well as initiatives that contribute to the vitality and livability of communities. Funding examples include:
- Supporting the work of an arts center that serves as economic driver in the community
- Comprehensive placed based revitalization: activities leveraging public/private investment and community partnerships
- Programs identified as part of a defined community revitalization plan
- Activities that seek the creation, preservation or restoration of open/green/parks space
Amount: Average award amounts range from $5,000 to $25,000.
Eligibility: Nonprofit organizations located in areas of Bank of America company operations.