Civic 50 Greater Philadelphia Honoree Spotlight: Bank of America
GPCVC Member and Civic 50 Honoree Bank of America:
Describe the main initiative(s) of your CSR program:
Nationally and at the local level Bank of America’s environmental, social and governance commitment is demonstrated in the inclusive and supportive workplace we create for our employees and the responsible products and services we offer our clients. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer, and environmental organizations, to bring together our collective networks and expertise to achieve greater impact.
Our commitment in Greater Philadelphia is to help strengthen the communities we serve. For more than two decades, we have partnered with local leaders and organizations to address critical needs, and to advance racial equality and economic opportunity. We also collaborate with companies and work with skill-building partners to help individuals succeed in today and tomorrow’s economy.
Since 2016, our 1,670 employees in Greater Philadelphia have given more than 55,000 hours and $4.1 million in donations to local nonprofits with a portion of this being matched by Bank of America’s Charitable Foundation as part of Bank of America’s annual goal of giving.
Bank of America looks to create well-rounded relationships that fit within the ESG commitment. A perfect example is Bank of America is the largest corporate supporter of Philadelphia’s summer youth employment program, WorkReady. In addition to the corporate support, the President of Bank of America Greater Philadelphia chairs the Summer Youth Employment Cabinet, a public private effort to raise awareness of the importance of summer jobs for youth. The consumer banking team also provides financial education for youth in the WorkReady program.
What are some of the key learning you gained, through participation in the Civic 50 Greater Philadelphia?
The Civic 50 Greater Philadelphia survey confirmed Bank of America’s efforts to help our local economy grow while strengthening the communities we serve. By combining our local support and expertise with our national reach, Bank of America connects customers and communities across the country to the resources they need to thrive. Our signature program, Neighborhood Builders, is a yearly program that provides relevant skill development and
topics to help nonprofit leaders address current and future community challenges in addition to monetary support. Each year, we refine our approach to the Neighborhood Builders Leadership Program, including topics ranging from strategic story-telling to human capital management, and we highlight themes that are critical to moving the nonprofit sector forward within broader societal and economic context.
As we continue to champion community sustainability through Neighborhood Builders, we recognize the need to foster diverse leadership in the nonprofit sector. Through this program, we hope to support Black and Hispanic/Latino nonprofit leaders as they tackle community challenges. We’re proud that the program is also helping to develop emerging nonprofit executives who can help advance equity and inclusion in the communities
Investing in nonprofit leaders is fundamental to moving communities forward, and we’re thrilled that more than 2,600 nonprofit leaders across the country, 29 from Greater Philadelphia, are now part of a network to help them share best practices, innovative solutions and approaches.
What would you share with a company that is debating whether to take the Civic 50 Greater Philadelphia next year?
The Civic 50 Greater Philadelphia initiative provides a one-of-a kind opportunity for self-assessment that allowed Bank of America Greater Philadelphia to compare our current ESG efforts to best practices. This program has allowed us to garner new resources and insights so we can better help our communities to thrive.
We are honored to have been recognized as one of Philadelphia’s 50 honorees who share in the commitment to strengthen the community we serve.