Bank of America Charitable Foundation Request for Proposal (RFP) grants

In 2022, the Bank of America Charitable Foundation will issue two requests for proposals (RFPs):

Economic Mobility focused on needs of individuals and families
(workforce development & education and basic needs)
Applications accepted 1/24/2022 – 2/18/2022
Economic Mobility focused on needs of community
(affordable housing, small business, neighborhood revitalization)
Applications accepted: 5/30/2022 – 6/24/2022

Economic mobility focused on needs of individuals and families

Basic Needs
Coronavirus has had a significant impact on all populations and a disproportionate impact on vulnerable populations who have experienced increased unemployment and higher levels of infection. As we emerge from this crisis, we are focused on health and economic recovery. In response, we’re partnering with organizations addressing the economic and social conditions that affect an individual’s health, access to community-based health services, crisis-prevention tied to family stabilization programs, and other poverty related issues.

Examples:

Access to healthcare and food – services that improve health outcomes with an emphasis on hunger relief and access to nutritious food, community-based healthcare, mental health counseling and substance use disorder treatment and rehabilitation.
Family stabilization– access to crisis prevention programs and wrap services including help with immediate and safe shelter, free or subsidized benefits like internet access, utilities, childcare, transportation, financial assistance and recovery.
Services for the homeless – programs that prevent or end homelessness, such as emergency shelter, rapid-rehousing, rental and utility assistance and permanent supportive housing.

Workforce Development & Education
Employment is a key driver of economic mobility. That’s why we’re focused on building pathways to employment by supporting a range of workforce development opportunities, including education, upskilling and reskilling programs – meeting people where they are so that individuals and families can advance.

Examples:

Youth employment – high-school completion programs, skills-training (hard and soft skills), first-time employment, internship, apprenticeship, and mentoring.
Alternative pathways for adults – job preparedness, training, skills-building, college or vocational certification, career counseling, ESL education and training, entrepreneurship opportunities, and job placement and retention.
Barriers to employment – organizations that help individuals overcome barriers to employment (individuals with disabilities, the formerly incarcerated, foster care youth, individuals living in extreme poverty) through training, support services, and housing.
National service – national service opportunities for people to make a positive impact on their communities while developing marketable skills for employment.

Economic mobility focused on the needs of the community

Affordable Housing
The current environment has underscored the importance of safe, decent housing for an individual’s overall well-being, including health, educational success and future employment opportunities. Yet for many, access to affordable housing has become further out of reach while others struggle with the possibility of eviction, foreclosure and homelessness. That’s why we support the efforts of organizations working to preserve and increase access to a mix of affordable housing options as well as other essential assistance.

Examples:

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 habits and stability efforts such as homebuyer education, budgeting, savings, and credit counseling including eviction and foreclosure prevention.
Sustainable development efforts creating healthy living environments through energy efficiency upgrades, retrofits, solar and other green building efforts.

Small Business
Small Businesses play an important role in the overall health of our nation’s economy. In response to the challenges small business owners face in today’s environment, we’re supporting nonprofits assisting entrepreneurs, especially minority and indigenous-owned, as they address their short-term needs and strengthen their overall recovery.

Examples:

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 entrepreneurs need to launch, fund and grow their businesses.
Assisting economic development efforts that promote small business growth and healthy commercial corridors. (e.g. Mainstreet).

Neighborhood Revitalization
Vibrant communities are places where individuals can thrive and succeed and have the opportunity to live and work with safe, decent housing, transportation to jobs, strong business corridors and thriving arts and culture districts. We support local and regional revitalization efforts, taking a holistic approach to building inclusive communities, creating economic opportunity and livable neighborhoods.

Examples:

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, withstand and recover from extreme weather events and the long-term impacts of climate change.
Environmental efforts through the preservation, creation or restoration of open space, parks and community gardens.
Supporting organizations/initiatives that bring energy efficiency and renewable energy advances to LMI/BIPOC communities.

https://about.bankofamerica.com/en/making-an-impact/charitable-foundation-funding

To be considered for a local grant, your organization:

Must be tax-exempt under section 501(c)(3) of the Internal Revenue Code and not classified as a private foundation
Must be based and serve communities in these markets
Should be aligned with our funding priorities of community development, education, and workforce development, and critical needs.

The following organizations are not eligible for funding:

We do not provide funding to any organization that discriminates based on race, religion, color, sex, sexual orientation, gender identity, age, national origin, ancestry, citizenship, veteran, or disability status, or espouses hate.
Individuals, including those seeking scholarships or fellowship assistance
Political, labor, fraternal organizations, or civic clubs
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.
Individual pre-K-12 schools (public or private)
Sports, athletic events, or athletic programs
Travel-related events, including student trips or tours
Development or production of books, films, videos, or television programs
Memorial campaigns
Contact us at Foundation@bankofamerica.com

Apply for a grant

How do I apply for a grant from the Bank of America Charitable Foundation?
Organizations can apply online at www.bankofamerica.com/foundation by selecting Apply for a Grant.

Is there a specific time period when Bank of America accepts applications for funding?
In 2022, the Bank of America Charitable Foundation will issue two requests for proposals (RFPs) on the priority focus area of economic mobility:

Economic Mobility focused on the needs of individuals and families 
(workforce development & education and basic needs)
Applications accepted 1/24/2022 – 2/18/2022 More details
Economic Mobility focused on the needs of the community 
(affordable housing, small business, neighborhood revitalization)
Applications accepted: 5/30/2022 – 6/24/2022 More details

In 2021, Bank of America announced a $1 billion, four-year commitment to help drive economic opportunity, health care initiatives, and racial equality. How do I apply for these funds?
This commitment will span across our company and will include philanthropy, capital deployment through lending and investing, CDFI and MDI partnerships, our hiring practices, the development of financing solutions for small businesses, and more to drive innovation and progress. The philanthropic funds will be delivered through our standard application and grant requests addressing coronavirus-related needs, economic mobility, and in support of people and communities of color may be submitted via our website at: https://www.cybergrants.com/boa/rfp.

I have submitted an application online – when can I expect to receive an update on its status?
Economic mobility focused on the needs of individuals and families: Mid-late June
Economic mobility by addressing community development needs: Mid-late October

Once I submit a grant application, who can I contact for assistance?
For questions, contact us at 800.218.9946 or foundation@bofa.com

Once I begin an application, can I exit and return to it later?
Save what you have entered. To return, go to www.cybergrants.com/boa/rfp > Organization History.

I am locked out of my CyberGrants account, can you please reset my password?
We do not have access to any account information including passwords and log in credentials. Please contact Cyber Grants directly at cgsupport@cybergrants.com

My organization delivers services that span more than one of your focus areas. Can I apply for more than one RFP? If not, how do I determine which RFP to apply for?
Our guidelines state that we will fund an organization no more than once in a calendar year. Rare exceptions apply. As you decide which RFP you will apply for, consider which program or service is your highest priority to be funded. If you are applying for general operating support, select the RFP that most closely aligns with your organizational mission.

Are the RFP grants funded through a separate national allocation? Can I apply for an RFP grant and also apply for a “local grant”?
The RFP process is simply a refined focus for our local grant-making. As in the past, local markets, based on allocated budgets, decision grants through committees made up of local bank officers. The RFP process allows those committees to better evaluate like organizations and better understand the impact organizations, with the help of our funding, are having in local communities. It also allows for a streamlined approach in our giving that focuses our grants on work being done in our key focus areas.

My organization is focused on the arts. Under which RFP should I apply?
We recognize that some arts organizations act as economic catalysts in communities and fund these kinds of programs through our economic mobility RFP focused on addressing community development needs. An arts organization could also align with our work to support individuals and families (workforce development) if it can show job opportunities for young people such as a docent or internship program for high school/ college youth (target participants should be low and moderate income). In addition, Bank of America supports the arts in some markets through other bank funding outside the Foundation.

How do I know what amount to apply for?
Grant amounts vary by market and organization size. If you have previously received a Bank of America Charitable Foundation grant, an amount in that same range is a good starting point. While there are local variations, as a general guide, grant amounts in larger markets can range from $5,000 to $50,000. Grant amounts in smaller markets can range from $2,500 to $25,000.

Can we apply through the RFP process for a multi-year grant?
As a general guideline, the Foundation does not make multi-year grants through this local grant RFP process.

ACH information is requested in the application now – is this required information?
Yes, ACH is our preferred method of payment and that information is required at the time an application is submitted. Leaving that section incomplete will prevent you from submitting an application.

Is my ACH/banking information safe?
Yes, your information is safe. Access to that information is extremely limited (for example – grant reviewers cannot see it). In addition we undergo several security checks and tests throughout the year to ensure the safety of that information.

If we’ve been invited to apply for your Neighborhood Builders or Neighborhood Champions grant, can we also apply for an RFP grant?
The Neighborhood Builder and Neighborhood Champion applications, which are now done on an invitation basis, are a separate process from the RFP process and as such, it is possible an organization could apply for both.

Does the Foundation fund environmental organizations?
We have incorporated an environmental lens into both of our RFPs so to the extent an organization’s work connects with employment or community development it can be considered for funding.

There is an “other funding requests” option on the application page. What is that and should I apply using that if I don’t think my organization fits within your two core focus areas?
The Bank of America Charitable Foundation is focused on two core areas addressing economic mobility. These are our primary focus areas and they receive the vast majority of our funding. There are rare instances when an organization’s programs or mission do not align with those priorities and might be considered for funding however, consideration of a request outside those focus areas is very much the exception.

My organization is working outside of the United States, how can I apply for funding for that work?
Philanthropic funding for organizations and programs outside of the United States is limited and is awarded by invitation only.

In the application, there are a few questions related to volunteer opportunities. Why are those included and what are you looking for?
Volunteerism is a key component of the bank’s ESG strategy, and we seek to align much of our volunteerism to our philanthropic focus areas of hunger, housing, and jobs. We believe that by focusing our dollars, time, and talent, we can help our partners make an even bigger impact in these three areas. We would like to know what volunteer opportunities you have available related to your grant request (including the ability for us to provide financial education/coaching), as our employees are interested in volunteering at their highest levels of contribution. We are very interested in skills-based opportunities, as they allow us to offer you our most competitive asset —our talent.

Updated 05/06/2021

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