BofA Commits $250 Million to Address Hunger and Other Basic Needs for Families in Communities Around the Country

Bank of America has announced a $250-million commitment over the next five years to support families and individuals experiencing food insecurity and other basic needs in communities nationwide. This investment builds on the company’s long-standing support in this area, as it currently provides annual philanthropic funding to more than 1,200 organizations that focus on combating hunger and other related needs.

As part of its new commitment, Bank of America will deliver $5 million to nearly 100 nonprofit organizations currently addressing urgent food needs for individuals and families. This move will help ensure these organizations can address increasing needs at the local level.

47 million Americans face daily challenges with hunger, including one in five children. In Los Angeles County, food insecurity affects approximately 832,000 people. The increase in demand for food banks today in our Los Angeles communities is at an all-time high.

This support builds on the bank’s long-standing efforts to address food insecurity in Los Angeles County, regularly supporting organizations such as Food Forward, Los Angeles Regional Food Bank, FIND Food Bank Shelter and Westside Food Bank, which provide millions of meals annually to our communities. This commitment is part of a larger $250-million, five-year commitment to ensure families and individuals have access to basic needs.

“Our ongoing commitment to the needs of the local communities where we work and live is foundational to who we are at Bank of America,” said Sheri Bronstein, chief people officer at Bank of America. “We work closely with food banks, food pantries and other basic needs-focused organizations every day, and this new commitment builds on decades of giving, volunteering and partnership.”

In addition to philanthropic support, Bank of America employees plan to volunteer more than 100,000 hours between now and the end of the year to assist organizations focused on hunger relief and other critical services. Bank of America will also match employee contributions, dollar for dollar, to organizations focused on combating hunger in the communities it serves.

Information for this article was sourced from Bank of America. To learn more, contact Stacy.Schwartz@ext.bursonglobal.com.