Bank of America Charitable Foundation announces grants for housing programs
July 26, 2012
The Bank of America Charitable Foundation recently announced $22 million in total grants that will be dispersed among 650 nonprofit organizations working to keep people in their homes and provide affordable housing options to families across the country. Housing initiatives are one primary focus of the foundation, which aims to stimulate national economic recovery. Efforts in this arena are bookended by job creation and a movement to fight hunger.
"Bank of America recognizes that housing plays a critical role in stabilizing communities and advancing economic development, and we continue to look for ways to support innovative programs that will help individuals and families access and retain affordable housing," said Kerry Sullivan, president of the Bank of America Charitable Foundation.
Funds will be distributed across 34 states and nonprofits expect the grants will help more than 31 million people. Nonprofits such as Mercy Housing and the Plymouth Housing Group will rehab more than 11,000 affordable housing units and build an additional 8,000.
Nonprofits that need funding to support their efforts may benefit from a program such as nonprofit financial management
software, which can make it easier to track incoming funds and disperse them correctly to various projects.