Funds Will Fill Critical Food Gaps for Struggling Americans

CHARLOTTE, N.C., Dec. 15 /PRNewswire/ -- The Bank of America Charitable Foundation today announced $2 million in grants to three national organizations providing critical hunger relief services to underserved families and individuals disproportionately affected by the economic downturn: Feeding America, the Meals On Wheels Association of America (MOWAA) and Save the Children.

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Bank of America has augmented its focus on basic human services in recognition of the significant challenges facing individuals and families during these challenging economic times, and the impact of the downturn on those already on the margins of poverty.

The foundation is providing $1 million to Feeding America, the nation's largest hunger-relief organization assisting 25 million Americans, to connect low-income Americans with the Supplemental Nutrition Assistance Program (SNAP), formerly the Food Stamp Program. Meals On Wheels and Save the Children will each receive $500,000 in funding.

Bank of America is taking a multigenerational, holistic approach to hunger relief by connecting low-income and underserved families with available benefits and resources while also helping them gain greater economic self-sufficiency and improve their health. The bank's funding also increases the long-term sustainability of these critical anti-hunger organizations.

"Now, more than ever, Bank of America is committed to supporting core human service needs such as hunger relief, housing and other basic services," said Kerry Sullivan, president, Bank of America Charitable Foundation. "This is a crucial time for these three nonprofits because they are simultaneously experiencing increased demand and reduced resources. These funds will have a positive impact during the holidays and over the long term."

The Feeding America grant will enable the organization's food banks to improve access and provide pre-screening and application assistance for low-income clients seeking emergency food assistance who are eligible for SNAP but not participating. A recent report by the U.S. Department of Agriculture indicates that only 66 percent of people who were eligible for SNAP received benefits in 2007. State-by-state participation rates varied from 42 percent to 100 percent. USDA research also shows that every $1 invested in SNAP benefits generates $1.84 in economic activity.

The Meals On Wheels Association of America grant will be used to support senior nutrition providers across the country in their effort to prepare, deliver, and provide the next meal to homebound seniors in need. The funding will also support leadership development training for emerging leaders in the Meals On Wheels organization. This grant from Bank of America comes at a critical time when a majority of Meals On Wheels programs are facing significant impacts due to skyrocketing gas and food prices and the current state of the economy.

"Six million seniors in America today are facing the threat of hunger. The fact that senior hunger exists in this, one of the richest nations on Earth, is a travesty," said Enid Borden, president and CEO of MOWAA. "We can cure the disease of hunger today. All we need is the leadership and the courage to get it done. We applaud Bank of America for being a corporate leader in our movement to end senior hunger in America by 2020."

The Save the Children grant will support domestic and international programs in communities where the global economic crisis and food price crisis have put nutritious meals for children increasingly out of reach. Malnutrition is the underlying cause of death for more than 3 million young children a year, which Save the Children is fighting to reduce through its global newborn and child survival campaign. Internationally, Save the Children programs deliver life-saving health care, emergency food relief, agricultural development, and nutrition education. In the United States, Save the Children's health and nutrition program provides healthy snacks and nutrition education to children living in poverty in rural areas.

Bank of America is a longtime supporter of organizations assisting in hunger relief efforts and, in addition to these grants, provided over $3 million in grants to nonprofits that addressed hunger and food-insecurity this past year. In 2009, nearly 2,000 Bank of America associates donated more than 12,000 hours to food banks and food nutrition related causes.

Bank of America Corporate Philanthropy

Building on a long-standing tradition of investing in the communities it serves, Bank of America this year embarked on a new, ten-year goal to donate $2 billion to nonprofit organizations engaged in improving the health and vitality of their neighborhoods. Funded by Bank of America, the Bank of America Charitable Foundation gave more than $200 million in 2008, making the bank the most generous financial institution in the world and the second largest donor of all U.S. corporations in cash contributions. Bank of America approaches investing through a national strategy called "neighborhood excellence" under which it works with local leaders to identify and meet the most pressing needs of individual communities. Bank associate volunteers contributed more than 900,000 hours in 2008 to enhance the quality of life in their communities nationwide. For more information about Bank of America Corporate Philanthropy, please visit www.bankofamerica.com/foundation.

SOURCE Bank of America

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