Bank of America has announced a commitment of $250 million over the next five years to support families and individuals facing food insecurity and other basic needs across the United States. The initiative extends the company’s history of supporting organizations that address hunger, with current annual philanthropic funding provided to more than 1,200 such groups.
As part of this new effort, Bank of America will allocate $5 million to nearly 100 nonprofit organizations that are working to meet urgent food needs at the local level. The funding aims to help these nonprofits respond to growing demands in their communities.
Sheri Bronstein, Chief People Officer at Bank of America, stated, “Our ongoing commitment to the needs of the local communities where we work and live is foundational to who we are at Bank of America. We work closely with food banks, food pantries, and other basic needs-focused organizations every day, and this new commitment builds on decades of giving, volunteering, and partnership.”
Alongside financial contributions, Bank of America employees plan to volunteer over 100,000 hours by year-end in support of organizations focused on hunger relief and essential services. The company will also match employee donations dollar for dollar for groups addressing hunger in its service areas.
Bank of America serves nearly 70 million consumer and small business clients through about 3,600 retail centers and approximately 15,000 ATMs nationwide. Its digital banking platform has around 59 million verified users. The bank operates both domestically and internationally in more than 35 countries.
Reporters seeking further information can contact Carla Molina at Bank of America.
