Bank of America Commits $250M to Address Hunger and Other Basic Needs for Families in Communities Around the Country

Rhea-AI Summary

Bank of America (NYSE: BAC) announced a $250 million commitment over the next five years to support families facing food insecurity and other basic needs across the U.S.

As part of the pledge, the company will provide $5 million of immediate assistance to nearly 100 nonprofit organizations, match employee donations dollar-for-dollar for hunger-focused groups, and employees plan to volunteer more than 100,000 hours before year-end. The commitment expands the bank's existing annual philanthropic support to over 1,200 organizations addressing hunger and related needs.

Positive

• $250 million commitment over five years to fight hunger
• $5 million of immediate assistance to nearly 100 nonprofits
• Employees plan > 100,000 volunteer hours by year-end
• Dollar-for-dollar employee donation matching for hunger-focused groups
• Company already funds > 1,200 organizations annually

Negative

• None.

Commitment Over the Next Five Years Includes $5 Million of Immediate Assistance for Families in Local Communities Across the U.S. 

CHARLOTTE, N.C., Oct. 31, 2025 /PRNewswire/ -- Bank of America today announced a $250 million commitment over the next five years to support families and individuals experiencing food insecurity and other basic needs in communities nationwide. This investment builds on the company's long-standing support in this area, as it currently provides annual philanthropic funding to more than 1200 organizations that focus on combatting hunger and other related needs.  

As part of its new commitment, Bank of America will deliver $5 million to nearly 100 nonprofit organizations currently addressing urgent food needs for individuals and families. This move will help ensure these organizations can address increasing needs at the local level.

"Our ongoing commitment to the needs of the local communities where we work and live is foundational to who we are at Bank of America," said Sheri Bronstein, Chief People Officer at Bank of America. "We work closely with food banks, food pantries, and other basic needs-focused organizations every day, and this new commitment builds on decades of giving, volunteering, and partnership."

In addition to philanthropic support, Bank of America employees plan to volunteer more than 100,000 hours between now and the end of the year to assist organizations focused on hunger relief and other critical services. Bank of America will also match employee contributions, dollar for dollar, to organizations focused on combatting hunger in the communities it serves.

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million consumer and small business clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact

Carla Molina, Bank of America        
Phone: 1.512.397.2402
carla.molina@bofa.com

 

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SOURCE Bank of America Corporation

FAQ

What did Bank of America (BAC) announce on October 31, 2025 regarding hunger relief?

Bank of America announced a $250 million commitment over five years to address food insecurity and basic needs.

How much immediate assistance will Bank of America (BAC) provide and to how many nonprofits?

The company will deliver $5 million of immediate assistance to nearly 100 nonprofit organizations.

How will Bank of America (BAC) involve employees in the hunger relief initiative in 2025?

Employees plan to volunteer more than 100,000 hours by year-end and the company will match employee donations dollar-for-dollar for hunger-focused groups.

Does the Bank of America (BAC) commitment build on existing philanthropic activity?

Yes. The bank currently provides annual philanthropic funding to more than 1,200 organizations focused on hunger and related needs.

Over what timeline will Bank of America's (BAC) $250 million commitment be delivered?

The commitment is planned to be delivered over the next five years starting from the October 31, 2025 announcement date.

Where can investors find more Bank of America (BAC) news and announcements like this commitment?

Investors can visit the Bank of America newsroom and register for news email alerts for dividend announcements and other updates.