Bank of America Charitable Foundation pledges $6 million grant to Habitat for Humanity
CHARLOTTE (April 15, 2010) – The Bank of America Charitable Foundation recently announced a $6 million grant to Habitat for Humanity International to fund the construction of homes domestically and internationally over the next three years. The announcement was made on a Habitat build site as more than 60 Charlotte-based Bank of America associates kicked off the company’s “Million Hour Challenge,” a pledge by its 300,000 associates around the world to donate 1 million volunteer hours by the end of 2010.
Joe Price, Bank of America’s president of consumer, small business and card banking, works on a Habitat for Humanity site in Char¬lotte, North Carolina, in celebration of the bank’s new commitment to Habitat and the first day of its Global Service Month.
“We are grateful to Bank of America and their associates for this gift and for their continued, generous support,” said Jonathan Reckford, CEO of Habitat for Humanity International. “As a result of our long-term partnership and with the help of Bank of America associates, hundreds of families now have safe, decent and affordable homes. We are excited to continue this partnership as we seek to serve a growing number of families around the world.”
What began more than 20 years ago as a house sponsorship program has become an expanding and multifaceted partnership. A 1987 commitment to Habitat turned the Jimmy Carter Work Project into a 14-house “blitz build” in Charlotte and the first worldwide House Raising Week. Bank of America has donated more than $16 million to Habitat for Humanity International since 2002 and this year committed an additional $6 million. Bank of America associates have worked 20,000 volunteer hours per year every year since 2002, helping more than 325 families obtain affordable housing.
“While nonprofits continue to depend heavily on monetary contributions from corporations, we find that augmenting our grants with the time and expertise of our associates provides exponential support to our partner organizations,” said Kerry Sullivan, president of the Bank of America Charitable Foundation. “Through these partnerships, we are collaboratively revitalizing neighborhoods and giving our associates an opportunity to take a personal stake in creating positive change while building upon their personal and professional skills.”
Bank of America associates will participate in a concentrated effort of community service projects this month. The bank’s volunteer program pairs employee volunteer efforts with its corporate philanthropic investments, including community development, education and youth development, arts, environment and health and human services.
About Habitat for Humanity International
Habitat for Humanity International is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since its founding in 1976, Habitat has built, rehabilitated, repaired or improved more than 350,000 houses worldwide, providing simple, decent and affordable shelter for more than 1.75 million people. For more information, or to donate or volunteer, visit www.habitat.org
Bank of America Corporate Philanthropy
Building on a long-standing tradition of investing in the communities it serves, last year Bank of America embarked on a ten-year goal to donate $2 billion to nonprofit organizations engaged in improving the health and vitality of their neighborhoods. Bank of America approaches giving through a national strategy called "neighborhood excellence" under which it works with local leaders to identify and meet the most pressing needs of individual communities. Bank associate volunteers contributed more than 800,000 hours in 2009 to enhance the quality of life in their communities nationwide. For more information about Bank of America Corporate Philanthropy, please visit www.bankofamerica.com/foundation.