The Bank of America Charitable Foundation Matching Gifts program encourages employees to contribute to qualifying charitable organizations. The program offers a way to double — up to $5,000 (US) per person each calendar year — employees’ cash or securities contributions to their favorite charitable organizations and thus improve their communities.
Please review all program rules and restrictions prior to submission of any application.
How does it work?
Dollar-for-dollar, the Bank of America Charitable Foundation matches up to $5,000 USD per person each calendar year. There are certain guidelines:
- 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 a private foundation. No other qualification process is required.
- 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 employee programs 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 should not contact CAFAmerica regarding the qualification of organizations.)
- Please review the eligibility tab to understand further restrictions on certain types of organizations and programs as not all charitable organizations can be funded.
- Gifts must be personal contributions paid either in cash or securities.
- The amount of each gift must equal at least $25 USD to be eligible.
- The contribution must be actually paid, not simply pledged.
- Employee Deadline - Employees 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.
- Organization Deadline - Organizations must verify donations by May 15 after the year in which the gift was given.
- Organizations and/or categories of service must adhere to the guidelines regardless of an employee registering a donation for a match.
EMPLOYEE GIVING PROGRAM REVIEW POLICY
Bank of America regularly evaluates our programs to ensure the process adheres to stated guidelines and our commitment to corporate social responsibility, including random reviews of organizations receiving matching funds from our programs. Organizations selected for review will be required to provide documentation verifying receipt of individual donations for each participant.
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.
Make sure that you are familiar with these matching gift program rules. Failure to abide by these rules or providing any false or misleading information in connection with a matching gift request could result in disciplinary action up to and including termination, as well as possible civil or criminal liability. Bank of America reserves the right, in its sole discretion, to discontinue funding and to demand the return of the matching gift grant amount, or any portion thereof, and any income earned thereon, if you provide Bank of America with any false or misleading information or make any misrepresentations in connection with this request for a matching gift.
Employees: Apply for a Matching Gift
Charitable Organization: Verify employee gift
Eligible Participants are:
- Full-time and part-time benefit eligible employees
- Active members of the Board of Directors of Bank of America Corporation
THE FOLLOWING ORGANIZATIONS OR CATEGORIES OF SERVICE ARE NOT ELIGIBLE FOR MATCHING DONATIONS THROUGH THIS PROGRAM:
If the organization receiving your donation falls within one of these bulleted items, please do not register the donation for matching as it is outside of policy guidelines.
- Religious organizations (for example, churches and synagogues). Secular community service programs such as soup kitchens, shelters for the homeless, and job banks are eligible, even when sponsored by religious groups as long as they do not have a religious focus.
- Athletics - all programs whose primary focus is in support of any athletic activity (for example, youth or adult athletic programs, booster clubs, 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 booster clubs, trips, choirs, bands, tours, and internships)
- Political organizations and activities
- Fraternal organizations
- Gifts that result in an employee 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 employee's name to qualified organizations are eligible for matching
- Gifts given to organizations through Bank of America employee 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
- Pooled gifts - gifts made jointly by several individuals and pooled to achieve the $25 minimum
EMPLOYEE GIVING PROGRAM REVIEW POLICY
Bank of America regularly evaluates our programs to ensure the process adheres to stated guidelines and our commitment to corporate social responsibility, including random reviews of organizations receiving matching funds from our programs. Organizations selected for review will be required to provide documentation verifying receipt of individual donations for each participant.
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.
Make sure that you are familiar with these matching gift program rules. Failure to abide by these rules or providing any false or misleading information in connection with a matching gift request could result in disciplinary action up to and including termination, as well as possible civil or criminal liability. Bank of America reserves the right, in its sole discretion, to discontinue funding and to demand the return of the matching gift grant amount, or any portion thereof, and any income earned thereon, if you provide Bank of America with any false or misleading information or make any misrepresentations in connection with this request for a matching gift.
Employees: Apply for a Matching Gift
Charitable Organizations: Verify employee gift
