Wednesday, April 11, 2007

Bank of America Charitable Foundation Donates $6 Million

CHARLOTTE, N.C. — The Bank of America Charitable Foundation today announced a $6 million donation to Habitat for Humanity International to increase the nonprofit's capacity to provide quality, affordable housing for families worldwide. The funds will be used for general operating support as well as financing home construction and renovation for families around the world.

As part of Bank of America's corporate giving program, the grant is being announced shortly after the company unveiled Bank of Opportunity, the theme for its new brand positioning. The Habitat grant is one of several significant charitable donations the bank has announced to celebrate the power of opportunity.

"Over the past five years, more than 20,000 Bank of America associates have volunteered their time and the bank has committed millions of dollars to provide hundreds of families a place to call home," said Joe Price, CFO of Bank of America. "I cannot think of a better way to celebrate opportunity than to honor the completion of the McColl program and renew our commitment to building homes in partnership with deserving families across the country."

According to Bank of America, what began 20 years ago as a house sponsorship program has become an expanding and multifaceted partnership. The commitment to Habitat turned the Jimmy Carter Work Project into a 14- house "blitz build" in Charlotte and the first worldwide House Raising Week. Bank of America has donated more than $10 million to Habitat for
Humanity International since 2002. The corporation has given $850,000 to Operation Home Delivery, Habitat's hurricane recovery project, and $200,000 to local affiliates to increase building capacity.

Habitat for Humanity is a global home-building movement comprising more than 2,300 local affiliates, state support organizations and national organizations in nearly 100 countries around the world, including all 50 states of the United States, the District of Columbia, Guam and Puerto Rico. Completing a home somewhere in the world every 21 minutes, Habitat for Humanity builds nearly 25,000 homes per year.

Bank of America has embarked on a 10-year goal to give $1.5 billion to nonprofit organizations engaged in improving the quality and vitality of their neighborhoods. The Bank of America Charitable Foundation will give more than $200 million in 2007, making the bank one of the most generous corporate donors in the world. Through Team Bank of America, bank
associate volunteers contribute more than 500,000 hours each year to improve the quality of life in their communities nationwide.

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