Bank of America Foundation announces grants to meet critical needs
January 24, 2013
Although the American economy is rebounding, there are many people still feeling the effects of the downturn. In fact, the United States Department of Agriculture estimates that approximately 50 million Americans are suffering from hunger and reports have shown that the average stay in shelters has grown.
To help people meet their most basic needs and move forward to achieve financial wellness, The Bank of America Charitable Foundation has announced grants nearing $22 million that will be dispersed to more than 1,000 nonprofits throughout the country.
"Too many families are forced to choose between paying bills and feeding their family," said foundation president Kerry Sullivan. “Helping individuals and families connect to programs and services that meet their immediate needs and enable them to gain financial stability is vital to the economic health of our country."
In addition to the support its providing to nonprofits like Feeding America and the United Way, the Bank of America is also making a dent in the country's critical needs through employee volunteering and pledging.
Foundations and organizations that provide annual funding might benefit from nonprofit accounting software, which can help board members audit funds and make sure the correct amounts are being distributed to various programs each year.