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Bank of America’s philanthropy makes a difference in the lives of others by supporting organizations that provide opportunities for low- and moderate-income individuals and families. We also focus on improving financial literacy, workforce development and affordable housing.
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Introduction
Since the 2008 financial crisis, big banks have been trying to repair their public image. For Bank of America, that has meant rebranding itself as a company that is committed to helping its customers and communities succeed.
One way the bank has been doing this is through its philanthropy. In 2017, Bank of America donated $262 million to 12,000 nonprofits around the world. That may seem like a lot of money, but it only represents about 0.16 percent of the bank’s total revenue for that year.
Still, the impact of these donations can be significant. For example, in 2017, Bank of America’s foundation gave $5 million to United Way chapters in North Carolina and South Carolina to help with relief efforts after Hurricane Florence. The money was used to provide basic necessities like food and shelter for those affected by the storm.
In addition to its financial contributions, Bank of America employees also volunteer their time and skills to help nonprofits achieve their goals. In 2017, nearly 90,000 employees volunteered more than 1 million hours at 5,500 nonprofits around the world. That’s the equivalent of about 500 full-time employees working for free for an entire year!
Bank of America’s philanthropy is making a difference in the lives of others and helping to improve the bank’s public image. It remains to be seen if this will be enough to repaired the damage done by the financial crisis, but it is certainly a step in the right direction.
What is the Bank of America’s Philanthropy?
Bank of America’s philanthropy is centered around three main pillars: economic mobility, environmental sustainability, and developing tomorrow’s leaders. The bank invest in programs and organizations that work to create opportunity for people and communities, protect the planet, and develop the next generation of leaders.
What are the main goals of the Bank of America’s Philanthropy?
Bank of America’s Philanthropy seeks to create economic opportunity, support human well-being and build resilience in the communities it serves. Our focus is on three key areas:
-Helping people succeed financially
-Developing thriving communities
-Protecting the environment
Who benefits from the Bank of America’s Philanthropy?
The Bank of America’s Philanthropy benefits a wide range of people, from those in need of financial assistance to students seeking scholarships. The bank provides grants to organizations that help further education, economic opportunities and housing stability. Furthermore, the philanthropy work of the bank also reaches out to environmental causes and disaster relief. In total, the Bank of America’s Philanthropy has donated over $2 billion to charitable causes since 2009.
How has the Bank of America’s Philanthropy made a difference in the lives of others?
Since its inception, Bank of America’s Philanthropy has donated more than $2 billion to causes and organizations across the globe. The bank’s philanthropic efforts are geared towards making a difference in the lives of others, with a focus on helping those who are most in need.
Some of the areas that Bank of America’s Philanthropy has made a difference in include:
– Providing access to education and training opportunities for low-income individuals and families
– Supporting economic development initiatives in underserved communities
– Investing in programs and services that help meet the basic needs of individuals and families living in poverty
– Funding research and organizations dedicated to finding cures for diseases and conditions that disproportionately impact low-income, minority, and disadvantaged populations
– Supporting arts and culture organizations that provide educational and enrichment opportunities for all
Conclusion
Since 2009, Bank of America has awarded nearly $1.5 billion in charitable grants to more than 30,000 nonprofits. These organizations are making a difference in the lives of others every day, and we are proud to support their efforts. We are committed to helping create thriving communities where our employees live and work.
