Bank of America employees volunteer thousands of hours globally in our neighborhoods each year. In fact, more than 3,000 charitable organizations benefit from our employees’ dedication each year. To honor those who give their time and service to causes important to them, the Bank of America Charitable Foundation awards grants, which are up to $500 per employee for each calendar year and are made in the name of the employee, to eligible charitable organizations.
How does it work?
An unrestricted grant is made to any eligible nonprofit organization for which an employee or retiree has committed substantial volunteer hours within a calendar year.
Volunteer Grants Program Rules
- For 50 hours of volunteer time within a calendar year, Bank of America Charitable Foundation will give a $250 grant.
- For 100 hours of volunteer time within a calendar year, the grant is $500.
- 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.
- Employee Deadline - Employees must complete an application and have the recipient organization verify the hours. Employee hour registration must be completed by January 31 after the year in which the hours were volunteered
- Organization Deadline - Organizations must verify hours by May 15 after the year in which the hours were volunteered
- Organizations and/or categories of service must adhere to the guidelines regardless of an employee registering hours volunteered
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 Volunteer Grant
Nonprofits: Verify employee hours