One of the national grant recipients is Mercy Housing, Inc., which will receive $375,000 to support the preservation of existing affordable housing, develop new units and provide integrated services that help families facing foreclosure stay in their homes, achieve financial stability and build assets. Mercy Housing has programs in Alabama, California, Georgia, Idaho, Illinois, South Carolina, Washington and Wisconsin.Most of the funding announced today supports local nonprofits like Plymouth Housing Group in Seattle, Washington, which works to eliminate homelessness and support low-income people in downtown Seattle. The $25,000 grant will support the expansion of a new initiative, The Recovery Support Program, which will assist homeless adults recovering from addiction with housing, counseling and in-house support. The Recovery Support Program will be available at The Williams Apartments, a new 81-unit building now under construction in the South Lake Union neighborhood. Half of the 81 residences will be reserved for homeless veterans. The Williams Apartments will be a LEED ®-certified, sustainably-built building. In addition to financial support, Bank of America’s employees give their time, passion and expertise to address housing needs through volunteerism. In 2011, bank employees donated more than 455,000 service hours in partnership with organizations like Habitat for Humanity, Rebuilding Together and Operation Homefront. Philanthropic and volunteer support are just a few of the ways that Bank of America continues to address the foreclosure crisis and help revitalize neighborhoods. The company has completed more than one million loan modifications since 2008 and participated in more than 1,000 mortgage outreach events since 2009. Bank of America has also opened 50 customer assistance centers in 25 states hardest hit by foreclosures, providing distressed homeowners face-to-face counseling and assistance. Bank of America is the largest investor in Community Development Financial Institutions (CDFIs), with more than $1 billion in capital in more than 200 CDFIs in 45 U.S. states, the District of Columbia and Puerto Rico, financing affordable housing, community facilities, nonprofits, small businesses and micro-enterprises. In 2011, the company invested more than $443 million in CDFIs that primarily fund affordable housing initiatives across the U.S.
Bank of America Corporate Social ResponsibilityBank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way across more than 100 markets around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create shared value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. Learn more at www.bankofamerica.com/opportunity and follow us on Twitter at @BofA_Community.For more Bank of America news, visit the Bank of America newsroom. www.bankofamerica.com