Bank of America Charitable Foundation: Economic Mobility by Addressing Community Development Needs
The Bank of America Foundation is committed to advancing a more diverse and inclusive society by expanding opportunities and supporting equitable solutions that will enable low-income communities to grow and prosper. The Foundation’s focus on Economic Mobility by Addressing Community Development Needs will support the the work of local, national, and global nonprofit organizations working together to address issues essential to an individual’s economic mobility and the community’s vitality. There are two overarching funding priorities:
1. Building vibrant communities: Grants target local and regional revitalization efforts taking a holistic approach to building thriving communities, creating economic opportunity, and creating livable neighborhoods. Programs supported include:
- Economic development efforts that promote small business growth and healthy commercial corridors
- Revitalization initiatives that engage community stakeholders in economic growth (e.g., transit development, neighborhood preservation, and strengthening community health, safety, and welfare)
- Supporting community arts and cultural institutions that provide economic opportunity and contribute to the vitality and livability of communities
- Supporting efforts that create healthy neighborhoods through the preservation, creation, or restoration of open/green/parks space
2. Expanding access to housing opportunities: The Foundation supports efforts and programs to create pathways to economic mobility, while working to preserve and increase access to affordable housing options. It also seeks to connect individuals/families with tools to achieve financial goals. Priorities supported include:
- Organizations whose housing efforts address 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
- Organizations that create 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
- Organizations whose affordable housing programs support healthy environments through the pursuit of energy efficiency upgrades, retrofits, solar, and other green building efforts
Amount: Average award amounts range from $1,000 to $25,000.
Eligibility: Nonprofit organizations located in areas of Bank of America company operations.
Note: The application will open on May 8.
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