Volunteer Grants

The Volunteer Grants program by Bank of America Charitable Foundation supports employees and retirees who contribute at least 50 hours to eligible charitable organizations each year. Grants of up to $1,000 are available, honoring the dedication of volunteers to their communities. Eligible organizations include U.S. 501(c)(3) nonprofits and registered charities in the U.K. This initiative emphasizes community service while adhering to specific funding rules and guidelines.

NOTE: Employee and retiree volunteer hours must be recorded by January 31 after the year in which the hours were volunteered.
As part of our commitment to building a culture of giving and volunteering at the company, the Bank of America Charitable Foundation volunteer grants program encourages employees and retirees to contribute to causes they care about most by amplifying the impact of their volunteer time with volunteer grants up to $1,000 USD per employee or retiree, per calendar year.
How it Works
A grant is made to any eligible nonprofit organization of the volunteer’s choice once an employee or retiree has volunteered a minimum of 50 hours within a calendar year.
The grant must be directed to an eligible organization that the employee/retiree has volunteered with and recorded the volunteer time; if none of the organizations with which the volunteer participated are eligible, then the volunteer may choose another eligible organization.
For 50 hours of volunteer time within a calendar year, Bank of America Charitable Foundation will give a $500 grant.
A maximum of $1,000 (two $500 grants) per calendar year may be granted per employee/retiree.

Eligibility

Program Rules:Eligible US Charitable Organizations: Charitable organizations in the United States must be tax-exempt under section 501(c)(3) of the Internal Revenue Code and not be classified as private foundations, family foundations, political organizations, or fraternal organizations.
Eligible Non-US based Charitable Organizations:Charitable Organizations located in England or Wales must be registered with the Charity Commission.
Charitable organizations outside of the United States, England or Wales must be qualified as eligible for donations from CAFAmerica. Employees should search on the my Giving and Volunteering site to determine if the organization is included in that listing. The site also provides instructions for nominating organizations that are not currently on the eligible listing. Further information regarding CAFAmerica can be found at the CAFAmerica website. Employees and retirees should not contact CAFAmerica regarding the qualification of organizations.Please review the eligibility criteria to understand further restrictions on certain types of organizations and programs as not all charitable organizations can be funded.
Employee Deadline - Employees and retirees will be notified of eligibility based on hours recorded on the my Giving and Volunteering site and must then complete an online form. Employee and retiree volunteer hours must be recorded by January 31 after the year in which the hours were volunteered.
Organizations and/or categories of service must adhere to the guidelines regardless of an employee or retiree registering hours volunteered.Employees: To become eligible for a volunteer grant, start recording your hours here.Nonprofits: Access the nonprofit portal to view information about volunteer grants paid to your organization.Participants are:Full-time and part-time benefit eligible employees
Retired employees from certain predecessor organizations
Active members of the Board of Directors of Bank of America CorporationVolunteer time must be performed with not-for-profit organizations.

Ineligibility

The following organizations or categories of service are not eligible through this program:Some activities may not count toward volunteer grant eligibility due to classification as not external community-focused. If the organization receiving volunteer time falls within one of these bulleted items, the volunteer grant needs to be directed to another eligible organization.We do not provide general funding to any organization whose purpose is to promote or to discourage the observance or proselytization 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 project receiving funding.
We do not provide funding that directly benefits employees/retirees or their families, such as trips, tours, internships, tuition, event tickets, parking privileges, club dues, products and services, or discounts on products or services.
We do not provide funding to any organization that discriminates based on race, religion, color, sex, sexual orientation, age, national origin, ancestry, citizenship, veteran, or disability status.
We do not provide funding that results in advertisements or other promotions of an individual employee's or retiree’s business activities.
We do not provide funding that matches volunteer hours recorded for friends or family members.
We do not provide funding to any athletic organization or program except for those with a youth development component that have an impact on grades K-12 or the in-country equivalent.