Bank of America announced a $250 million commitment over the next five years to address food insecurity and other basic needs nationwide. This initiative builds on the company’s existing support. That includes annual philanthropic funding to more than 1,200 organizations focused on hunger relief.
As part of the new commitment, Bank of America will immediately distribute $5 million to nearly 100 nonprofit organizations currently addressing urgent food needs for individuals and families, enabling them to meet increasing local demands.
“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,” Sheri Bronstein, the bank’s chief people officer. “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.”
In addition to financial support, Bank of America employees plan to volunteer more than 100,000 hours by the end of the year to assist organizations focused on hunger relief and other critical services. The company also is matching employee contributions, dollar for dollar, to organizations dedicated to combating hunger in the communities it serves.
