Thursday, February 22, 2007

Bank of America Selects 44 Markets

Charolette, N.C. – Working with community partners, the Bank of America Charitable Foundation developed the Neighborhood Excellence Initiative to provide the 44 participating markets with essential support through three key programs:

- Neighborhood Builders(TM): $200,000 in grant funding and leadership
training over the course of two years to two local nonprofit
organizations working to promote vibrant neighborhoods. These grants
are "unrestricted funds" -- highly unusual in the nonprofit community --
and can be utilized by the organization to cover operating expenses and
build program capacity.

- Local Heroes(TM): recognition of five community heroes whose
achievements and leadership on local issues contribute significantly to
neighborhood vitality. Recipients will direct a $5,000 contribution to
an eligible nonprofit of their choice.

- Student Leaders(TM): development of five exemplary high school students
with an interest in improving their neighborhoods. To further their
personal and educational growth, the Foundation provides funding for
each student to participate in a paid, eight-week summer internship with
a community-based organization as well as a series of leadership
training and community service activities with local Bank of America
executives.

Award recipients will be chosen by a local selection committee comprised of private, public and nonprofit sector leaders and chaired by the bank's local presidents in the 44 Neighborhood Excellence Initiative communities.

Applications and nominations for the awards will be available online at www.bankofamerica.com/foundation. The deadline for applications is March 9, 2007 for Student Leaders and June 29, 2007 for Neighborhood Builders and Local Heroes applications. Applicants in Las Vegas, Nevada and other markets are encouraged to apply as early as possible.

Bank of America has embarked on an unprecedented 10-year goal to give $1.5 billion to nonprofit organizations engaged in improving the quality and vitality of their neighborhoods. The bank will give more than $200 million in 2007, making it one of the most generous corporate donors in the world.

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