2003 Annual Report: Raising the Bar in Neighborhood Excellence (Page 3 of 3)

Taking Philanthropy to the Next Level

Community residents and opinion leaders expect companies to demonstrate meaningful, long-term commitments to their neighborhoods. Our customers tell us that they need and value good corporate leadership focused on the local issues that they consider priorities.

In response, the Bank of America Foundation has created a new plan for philanthropic initiatives that address two critical areas: Neighborhood Leadership and Social Leadership.

Neighborhood Leadership means that much of our philanthropy is directed at organizations providing direct services that address priority neighborhood issues. Social Leadership means we use some of our Foundation grant dollars to support anchor institutions that are meeting broader health, educational and cultural objectives.

Bank of America is committed to a national strategy that will feature a signature program in 32 markets designed to promote, recognize and reward people and organizations that deliver neighborhood excellence, including Neighborhood Builders, Local Heroes and Student Leaders. These programs will be integrated with our long-standing record of charitable investments in underserved neighborhoods, which is reflected in programs that provide job development and training, education and financial literacy initiatives, volunteer activities, community development and neighborhood revitalization.