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Bank of America Charitable Foundation Awards More Than $376,000 to Baltimore-Area Nonprofits

Wednesday, August 15, 2012   (0 Comments)
Posted by: Buffy Beaudoin-Schwartz
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August 14, 2012

Funding Will Support Efforts to Revitalize Local Neighborhoods

BALTIMORE, MD – The Bank of America Charitable Foundation will assist the work of Belair-Edison Neighborhoods Inc., Jubilee Baltimore Inc., Govans Ecumenical Development Corporation and 18 other Baltimore-area nonprofit organizations by awarding them $376,500 in grants that will support their work in local neighborhoods.

The funds are part of a recently announced $22 million the foundation is awarding to nonprofits nationwide that build and rehab affordable housing, offer foreclosure prevention services and homeowner counseling, and provide other services intended to revitalize neighborhoods and help working families find and keep sustainable homes. The foundation is also supporting organizations that foster community development and growth through the arts.

"Communities in Baltimore face many challenges, so we are focusing our philanthropic support on areas vital to improving neighborhoods and communities,” said Bill Couper, Mid-Atlantic president for Bank of America. "These philanthropic investments will help strengthen local economies and enrich our city. The organizations we are supporting have had positive impacts throughout Baltimore and we are pleased to support them and their commitment to serving residents.”

Belair-Edison Neighborhoods Inc. (BENI), a community based organization, will receive a grant to assist families with housing counseling and strategies to prevent foreclosure. The grant will advance the organization’s objectives around neighborhood preservation. Last year, 72 percent of BENI’s counseling clients were below 80 percent of the area median income for Baltimore City. The grant will also help homebuyers and homeowners construct budgets to sustain homeownership.

Jubilee Baltimore Inc., which specializes in developing affordable and market-rate housing, historic renovation and community planning, will also receive a grant supporting its revitalization work in the Station North Arts District and the Greenmount West and Barclay neighborhoods. The organization is redeveloping neglected areas of the neighborhoods and recently purchased the largest vacant structure in the Station North Arts and Entertainment District where it is working to create a center for the arts.

The grant to Govans Ecumenical Development Corporation will provide general operating support for efforts to plan and implement several new community development projects as well as manage current programs that serve low-and-moderate income residents.

Grants are also being awarded to Annapolis Symphony Orchestra, Anne Arundel County Community Action Agency Inc., Baltimore Children’s Museum (Port Discovery),

Baltimore Choral Arts Society, Baltimore Museum of Art, Baltimore Symphony Orchestra, Center Stage, Comprehensive Housing Assistance Inc., Garwyn Oaks Northwest Housing Resource Center Inc., Greater Homewood Community Corporation, Habitat for Humanity of the Chesapeake, Habitat for Humanity Susquehanna, Healthy Neighborhoods Inc., Maryland Science Center, Neighborhood Housing Services of Baltimore, St. Ambrose Housing Aid Center, The EverymanTheatre and Toolbank USA.

Bank of America has completed more than one million modifications through all available programs since January 2008, including more than 32,000 in Maryland. Bank of America has also participated in more than 40 mortgage outreach events in Maryland since 2009, as well as set up a customer assistance center in Columbia to provide customers an opportunity to meet face-to-face with a specialist to discuss their mortgage concerns.

Bank of America Corporate Social Responsibility

Bank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way across more than 100 markets around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create shared value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture.

Learn more at www.bankofamerica.com and follow us on Twitter at @BofA_Community.

For more Bank of America news, visit the Bank of America newsroom.

www.bankofamerica.com


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