Basic Needs and Income Creation Grant

The Bank of America Charitable Foundation focuses on improving economic mobility and social progress through partnerships with nonprofits. It prioritizes basic needs, income creation, stable housing, and community empowerment. By supporting vulnerable populations, the foundation aims to enable individuals to achieve their goals and contribute positively to their communities. The foundation emphasizes sustainable progress, ensuring that all community members have access to essential resources and opportunities for growth.

Background
Our Priorities: Basic needs, income creation, stable housing, empowered communities
All thriving communities start with meeting the individual basic needs of its members.
As basic needs are established, individuals can focus on development through mentoring, skill building,  work experience and entrepreneurial growth. These activities enable the creation of income for both the individual, as well as those they serve and employ. Income creation and access to affordable housing allows individuals to find stability through stable housing in neighborhoods where connections are further strengthened.

Eligibility

To be considered for a local grant, your organization:Must be tax-exempt under section 501(c)(3) of the Internal Revenue Code, not classified as a private foundation and not operating through a fiscal agent or sponsorMust be based and serve communities in these marketsMust be aligned with our funding priorities: basic needs, income creation, stable housing, and empowering communitiesWe will fund an organization no more than once in a calendar year and rare exceptions apply.

Ineligibility

The following organizations are not eligible for funding:We do not provide funding to any organization that discriminates based on race, nationality, ethnicity, religion, sex, gender, gender identity, sexual orientation, age, disability or veteran status. This also includes organizations that espouse hate and discrimination towards any groupIndividuals, including those seeking scholarships or fellowship assistancePolitical, labor, fraternal organizations, or civic clubsGovernment and municipal agencies and organizationsEndowment fundsFiscally sponsored organizationsWe do not provide general funding to any organization whose purpose is to promote or to discourage the observance or influence of religious beliefs. However, we will support such organization’s funding of homeless shelters, soup kitchens or other social service needs. The organization may be asked to provide proof of the community program receiving funding.Individual pre-K-12 schools (private, public, charter, individual school supporting foundations, PTA/PTO organizations)Memorial campaignsWhile we may sponsor the opportunities below through other funding avenues, these opportunities are ineligible for charitable grants, with rare exceptions.Sports, athletic events, or athletic programsTravel-related events, including student trips or toursDevelopment or production of books, films, videos, or television programs.As a general guideline, the Bank of America Foundation does not make multi-year grants.