The Bank of America Charitable Foundation Matching Gifts program encourages associates to contribute to qualifying nonprofit organizations of their choice. The program offers a way to double — up to $5,000 per person each calendar year — associates’ cash or securities contributions to their favorite organizations and thus improve their communities.
How does it work?
Dollar-for-dollar, the Bank of America Charitable Foundation matches up to $5,000 per person each calendar year. There are certain guidelines:
- Organizations must be tax-exempt under section 501(c)(3) of the Internal Revenue Code and not be classified as a private foundation
- Gifts must be personal contributions paid either in cash or securities
- The amount of each gift must equal at least $25 to be eligible
- The contribution must be actually paid, not simply pledged
- Associates must complete an application and have the recipient organization verify the gift. This information must be received by March 31 after the year in which the gift was given.
Bank of America may suspend, change or terminate this program at any time. The interpretation, application and administration of the program shall be determined by the Board of Directors of the Bank of America Charitable Foundation Board, whose decision is final.
Associates: Apply for a Matching Gift
Nonprofits: Verify associate gift
Participants are:
- Full- and part-time benefit eligible associates
- Active members of the Board of Directors of Bank of America Corporation
Matching gifts restrictions
The following organizations are not eligible for matched payments:
- Religious organizations (for example, churches and synagogues). Some secular community service programs such as soup kitchens, shelters for the homeless, and job banks are eligible, even when sponsored by religious groups.
- Athletics (for example, youth or adult athletic programs, scholarships, and community leagues)
- Organizations classified as private foundations by the Internal Revenue Code
- Family foundations
- Gifts that benefit a particular student or group of students (such as trips, choirs, bands, tours, and internships)
- Political organizations and activities
- Fraternal organizations
- Gifts that result in an associate or a family member receiving a benefit (for example, dinner, raffle, sporting event tickets, parking privileges, club dues, and any other direct services)
- Gifts made into Donor Advised Funds. The distribution made from those funds in the associate's name to qualified organizations are eligible for matching
- Gifts given to organizations through Bank of America associate campaigns (such as United Way or United Arts Funds)
- Deferred gifts (for example, annuities and charitable remainder trusts), bequests, and insurance premiums that name the organization as the beneficiary
- Tuition fees, loan repayments, and payments in lieu of tuition
- A pledge for payment not yet made
- Gifts made jointly by several individuals and pooled to achieve the $25 minimum
Bank of America may suspend, change or terminate this program at any time. The interpretation, application and administration of the program shall be determined by the Board of Directors of the Bank of America Charitable Foundation Board, whose decision is final.
Associates: Apply for a Matching Gift
Nonprofits: Verify associate gift
