Bank of America recognizes that there are particular barriers to economic success for Maryland’s young people, working families, and returning citizens. Through its commitment to workforce development, education, basic needs and community development, Bank of America provided $2.3 million in grants and matching gifts to local nonprofits addressing these community issues in 2016. Employees contributed more than $600,000 to area nonprofits, and spent more than 23,000 hours volunteering for local organizations—hours Bank of America incentivizes to support a culture of volunteerism. The numbers for 2017 are on pace to be higher.
Bank of America’s signature partnerships include:
• Special Olympics Maryland
• Boys and Girls Clubs
• Junior Achievement – Biz Town Training Center
• Habitat for Humanity
In addition to these partnerships in the community, Bank of America also has two signature Community Programs.
• Student Leaders: This program connects 225 community-minded high school juniors and seniors with employment, skills development and service opportunities. The students earn paid summer internships with local nonprofits and participate in a national leadership summit in Washington, DC.
• Neighborhood Builders: This program allows Bank of America to work with community leaders, empowering local organizations and connecting them with tools for success. Since 2004, Bank of America has supported these leaders with resources for stronger strategic and/or succession plans, responses to economic challenge, and funding opportunities. The nonprofits in this program receive leadership development and $20,000 in flexible funding, plus connection with a network of peer organizations across the country and access to capital to expand their impact on the community. Bank of America has invested more than $180 million in 900 nonprofit organizations nationwide since creating this program. It is the nation’s largest philanthropic investment in nonprofit leadership development. Maryland’s two most recent Neighborhood Builders award winners were The Light House Shelter in Annapolis and Urban Alliance in Baltimore.
Bank of America also partners with community development financial institutions to connect small business owners with capital. Maryland CDFIs include Capital Impact Partners; Community Reinvestments Fund, USA: ECDC Enterprise Development Group; Grow America Fund, Inc.; Maryland Capital Enterprise, Inc.; Washington Area Community Investment Fund; and Baltimore Community Lending.
The Business Philanthropy Awards are part of the Association of Fundraising Professionals National Philanthropy Day Awards. Each year, the Maryland Chamber of Commerce solicits and evaluates nominations for organizations committed to philanthropic community service. These awards are presented in collaboration with the Baltimore Business Journal.