Bank of America Announces $207,500 to Help Close the Basic Needs Gap

Providence – Bank of America today announced $207,500 in grants, to be distributed to eight nonprofits working to increase access to basic necessities and enable families in the Providence community to thrive.

Funding will help individuals and families in Providence gain greater economic mobility through increased access to food, shelter, benefits and other fundamental needs that will enable them to move toward long-term stability. The funding is an example of how Bank of America is driving sustainable growth that supports shared success in the community.

“Connecting individuals to fundamental resources in our community is key in creating lifelong financial success,” said Bill Hatfield, Rhode Island market president, Bank of America. “These groups do incredible work helping the most vulnerable members of our community ”

Other organizations receiving grants include:

• United Way of Rhode Island
• Rhode Island Community Food Bank Association
• Crossroads Rhode Island
• The Jonnycake Center, Inc.
• Amos House
• Lucy’s Hearth
• Providence Children’s Museum
• Martin Luther King Community Center Incorporated

The bank’s investment in financial education through basic needs funding is part of its broader commitment to improve the financial lives of the individuals and communities it serves. In partnership with Khan Academy and its founder, online educator Sal Khan, Bank of America developed BetterMoneyHabits.com– a free, online tool that puts financial education in the hands of consumers through easy to understand language to empower better financial lives and decisions.

In addition to philanthropic funding in Providence, the bank’s employee volunteers play a critical role in helping to advance thriving communities.

About Bank of America Environmental, Social and Governance

At Bank of America, our focus on Environmental, Social and Governance (ESG) factors is critical to fulfilling our purpose of helping make people’s financial lives better. Our commitment to growing our business responsibly is embedded in every aspect of our company. It is demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our customers, and the impact we help create around the world in helping local economies thrive. An important part of this work is forming strong partnerships across sectors - including community and environmental advocate groups, as well as non-profits – in order to bring together our collective networks and expertise to achieve greater impact. Learn more at www.bankofamerica.com/about and connect with us on Twitter at @BofA_News.