BofA Awards $1 Million Grant to After School Matters

Rhea-AI Summary

Bank of America (NYSE: BAC) awarded a $1 million grant to After School Matters to fund the new Orleans Teen Center in Chicago's Cabrini neighborhood, announced Dec. 1, 2025. The center opened in November 2025 and will serve approximately 1,500 teens annually with studios, theater, gym, STEM labs, and workforce-focused programs.

The grant moves After School Matters closer to its $27 million capital campaign goal and builds on a multi-decade partnership in which Bank of America has provided more than $3.7 million in funding, including a $200,000 Neighborhood Builder award in 2024.

Positive

• $1.0M grant advances $27M capital campaign
• Orleans Teen Center serves ~1,500 teens per year after November 2025 opening
• Bank of America partnership totals >$3.7M, including $200k Neighborhood Builder award in 2024

Negative

• None.

Funds Orleans Teen Center Serving 1,500 Teens in Cabrini Community

CHICAGO, Dec. 1, 2025 /PRNewswire/ -- Bank of America has awarded a $1 million grant to After School Matters to fund the nonprofit's brand-new Orleans Teen Center, a state-of-the-art facility situated in the Cabrini neighborhood that will expand opportunities for teens through creative, career-focused youth programming. The grant brings the organization close to the finish line of its $27 million capital campaign.

The new teen center, which opened in November, will serve approximately 1,500 young people each year through learning, enrichment, and workforce and career development initiatives. The three-story building features vibrant studios, a theater, gymnasium, STEM labs, and gathering spaces where teens can explore their interests in the arts, technology, trades, and leadership.

The building also features the Bank of America Teen Lounge, a welcoming space at the heart of the entryway, reflecting the bank's longstanding commitment to investing in Chicago's youth and supporting career pathways that strengthen communities.

"As Chicago's largest provider of out-of-school time programs for teens, After School Matters gives young people a safe, supportive space to explore their interests, build skills in the arts, leadership, sports, and STEM, and earn stipends that prepare them for their futures," said Rita Cook, president, Bank of America Chicago. "Bank of America shares ASM's commitment to investing in our youth through workforce and career initiatives, and we look forward to seeing the opportunities that will grow from the Orleans Teen Center."

Bank of America's partnership with After School Matters spans more than two decades and over $3.7 million in funding. In 2024, the nonprofit was named a Bank of America Neighborhood Builder for its commitment to uplifting Chicago-area youth, receiving $200,000 in flexible funding and access to comprehensive leadership development. Additionally, the bank has long supported After School Matters' paid summer internships for hundreds of Chicago-area teens, helping open doors to future opportunities.

"We are so proud of our long-standing partnership with Bank of America. This new Teen Center is about opening doors—especially for teens who too often face barriers to opportunity. Bank of America's $1 million grant ensures more young people will have a safe place to build skills for college, careers, and life," shared After School Matters CEO Mary Ellen Caron. "We are deeply grateful for Bank of America's continued commitment to Chicago's teens."  

For more information about the new After School Matters at Orleans Teen Center, please visit www.afterschoolmatters.org/locations/orleans/.  

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.

After School Matters 

After School Matters is a nonprofit organization that provides high-quality after-school and summer opportunities to Chicago public high school teens, helping them explore their passions and develop critical skills for work, college, and beyond. Programs are project-based, led by industry experts, and designed to foster independence and growth. Teens earn stipends while participating in programs across the arts, communications and leadership, sports, and STEM. For more than three decades, After School Matters has engaged over 450,000 Chicago teens. Learn more at www.afterschoolmatters.org. 

Reporters may contact

Diane Wagner, Bank of America
Phone: 1.312.992.2370
diane.wagner@bofa.com 

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SOURCE Bank of America Corporation

FAQ

What did Bank of America announce on Dec. 1, 2025 regarding After School Matters (BAC)?

Bank of America announced a $1 million grant to fund the new Orleans Teen Center in Chicago, serving about 1,500 teens annually.

How does the $1 million grant affect After School Matters' $27 million capital campaign?

The grant brings the nonprofit close to its $27 million capital campaign goal, according to the announcement.

When did the Orleans Teen Center open and what facilities does it include?

The center opened in November 2025 and includes studios, a theater, gymnasium, STEM labs, and the Bank of America Teen Lounge.

How large is Bank of America's historical support for After School Matters mentioned in the announcement?

The announcement cites more than $3.7 million in partnership funding over two decades, plus a $200,000 Neighborhood Builder award in 2024.

Does the announcement state any direct impact of the grant on Bank of America's earnings or guidance (BAC)?

No; the announcement describes a philanthropic grant and does not state any direct effect on Bank of America's earnings or financial guidance.

Where can investors find more information about the new Orleans Teen Center and the grant (BAC)?

The announcement directs readers to the After School Matters Orleans location page at www.afterschoolmatters.org/locations/orleans/ for more information.