Community Needs Grants – Jun 24

Posted by Bank of America Charitable Foundation on May 24, 2022

The Bank of America Charitable Foundation works to develop strong partnerships with nonprofit organizations to address issues fundamental to economic mobility and social progress in low- and moderate-income communities.

To that end, the foundation invites proposals that address economic mobility focused on the community’s needs, focusing on affordable housing, small business, and neighborhood revitalization.

Grant amounts in larger markets will range between $5,000 and $50,000. Grant amounts in smaller markets will range from $2,500 to $25,000.

For the June 24 deadline, the foundation is accepting proposals in two categories:

Affordable Housing: Examples include housing development for vulnerable populations through the construction or preservation of affordable single, multi-family, transitional, and supportive housing; minority homeownership programs; pathways  to stable housing or homeownership through financial stability efforts such as homebuyer education, budgeting, savings, and credit counseling, including eviction and foreclosure prevention; and sustainable development efforts creating healthy living environments through energy efficiency upgrades, retrofits, solar, and other green-building efforts.

Small Business: Examples include technical assistance supporting business planning (short and long term); operational capacity of CDFIs delivering essential growth capital to entrepreneurs; supporting organizations assisting minority-owned small businesses; creating business incubators and accelerators that provide mentorships, resources, and networks that entrepreneurs need to launch, fund and grow their businesses; and assisting economic development efforts that promote small business growth and healthy commercial corridors. (e.g., Mainstreet).

Neighborhood Revitalization: Examples include revitalization, preservation, and stabilization initiatives that engage community stakeholders in building livable communities; transit-oriented development efforts that connect individuals to jobs, services, schools, and economic opportunity; community arts and cultural institutions that provide economic opportunity and contribute to the vitality and livability of communities; resiliency of communities supporting short- and long-term plans to prepare for, withstand, and recover from extreme weather events and the impacts of climate change; environmental efforts through the preservation, creation, or restoration of open space, parks, and community gardens; and supporting organizations/initiatives that bring energy efficiency and renewable energy advances to LMI/BIPOC communities.

Organizations must be tax-exempt under section 501(c)(3) of the Internal Revenue Code and not be classified as private foundations. They must be based and serve communities in these markets identified by the foundation.

See the Bank of America Foundation website for complete program guidelines and application instructions.

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