In an effort to combat the number of Americans who experience food insecurity nationwide, Bank of America has extended a $1.5 million endowment to to the Boys and Girls Clubs of America and Feeding America via the bank's "Gift for Opportunity" fund. Consumers and associates made charitable contributions to the fund for six weeks, beginning December 2010, to aid more than 40 million children, individuals and families throughout the nation.
The fund is a new program that nationally aims to encourage charitable giving among the bank's customers and associates, which it will then double with a corporate match. Gift for Opportunity will be activated periodically throughout the year to support a variety of community needs that are important to the bank and its customers.
One of the most important components of the program is volunteerism. More than 1 million volunteer hours were donated by Bank of America associates in an effort to support community and civic organizations and causes, including food insecurity. They supported more than 50 events focused on alleviating hunger in December 2010.
"The issue of food insecurity really motivated our customers and associates to give generously of their money and time," said Kerry Sullivan, president of the Bank of America Charitable Foundation.
"The money we give in terms of charitable grants is extremely important, but it's also our associates who give their time and their talents to provide opportunities for the families and children in the communities we serve."
In the first use of its funding, the Bank of America Charitable Foundation supported Feeding America with $1 million.