Bank of America: Supporting Communities

bofa-logoBank of America’s 1,300 employees in San Diego have a different take on giving back that’s more than just writing checks. It’s a holistic approach to corporate social responsibility that is critical to making people’s financial lives better.

The bank grows its business responsibly through a combination of policies and practices, services, products, and employee benefits. An important part of that commitment is forming strong partnerships across all sectors, including nonprofit organizations serving community needs, bringing its collective networks and expertise to achieve greater impact.

For example, Bank of America works with community leaders and locally-based employees to determine which San Diego issues to address with a combination of philanthropic grant dollars, employee volunteerism and pro bono expertise to leverage greater impact for nonprofits. Last year alone, Bank of America awarded nearly $2 million to San Diego nonprofits and employees donated more than 18,000 hours of their time here in San Diego to a variety of causes throughout the entire community.

Another example of a mindful approach to giving back is the bank’s Neighborhood Builder program, that awards $200,000 in unrestricted funds to high impact nonprofits along with extensive leadership development resources for its executive director and an emerging leader in the organization – a combination intended to help increase the nonprofit’s capacity and impact.

This long-term investment in nonprofit leadership development and capacity building is the largest philanthropic investment of its kind.

This year, Goodwill Industries of San Diego County was named the 2015 Neighborhood Builders winner for its critical work providing job training and placement for veterans and other under-employed community members. The bank has awarded 20 San Diego nonprofits with $3.8 million in Neighborhood Builder grants. Previous recipients include Junior Achievement, ACCION San Diego, Reality Changers, Just In Time For Foster Youth and Community HousingWorks.

“We recognize that nonprofits and their staff are on the frontlines as they tackle tough community issues that are vital to San Diego’s economic growth,” said Rick Bregman, San Diego Market President Bank of America. “Neighborhood Builders is just one example of our broader corporate social responsibility efforts to build vibrant communities and economies. By advancing partnerships with nonprofits addressing needs related to community development, basic human services and workforce development and education, we are working to increase financial stability and help individuals and families find the pathways out of poverty. “

Bank of America is clear that its purpose is to make financial lives better for its customers, clients and communities, recognizing that it only succeeds when others are thriving. So, by helping people live better financial lives, a catalytic effect contributes to stronger communities and stable economies, with business growing responsibly.

Click here for more information on Bank of America’s corporate social responsibility.