Bank of America Awards Nearly $845K to Local Nonprofits in 2020
Source: Bank of America
To support communities amid the ongoing pandemic, Bank of America has awarded a total of $842,000 to 25 local nonprofits across Ventura and Santa Barbara counties this year, with a focus on alleviating the unprecedented impacts to basic needs, affordable and accessible housing and jobs. Bank of America also donated 420,000 personal protective equipment masks to the region’s essential agricultural workers, including 400,000 to Santa Barbara and Ventura County farm workers as part of a collaboration with California’s Department of Emergency Services to distribute one million masks throughout the State.
These philanthropic investments include work with United Way of Santa Barbara and Ventura Counties, Food Bank of Santa Barbara County, Food Share of Ventura County, Cabrillo Economic Development Corporation and Women’s Economic Ventures.
“While all of us have been impacted by the ongoing pandemic, the nonprofit sector continues to experience unprecedented demand for critical services to support vulnerable populations such as seniors and communities of color who are disproportionately impacted. As a major company and employer, Bank of America recognizes the responsibility we have to support our local communities however we can,” said Midge Campbell-Thomas, Ventura and Santa Barbara market president, Bank of America. “By directing philanthropic capital locally, we can address the most immediate needs while helping our most vulnerable communities become more resilient and positioned for success moving forward.”
Beyond grants and donations, local bank employees also found ways to give back through virtual volunteerism this year, dedicating more than 20,000 hours to local causes and projects of their choice with the support of the company’s longstanding policy to grant each employee two hours of paid time off per week.
As an essential business, Bank of America also invested in the health and economic stability of its own employees this year by raising its minimum hourly pay to $20 and expanding family benefits, including increasing childcare reimbursement to $100 per day, providing meal subsidies, and giving supplemental bonus pay to essential workers serving the daily banking needs of clients.
Bank of America
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).
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