BOSTON, Dec. 6 /PRNewswire/ -- Bank of America today announced a $1 million grant to Children's Hospital Boston to be paid over three years. The grant will fund the Kidvestment Partnership, Children's Hospital's initiative to improve the lives of Boston's inner-city kids through outreach, education, treatment, intervention and prevention programs. Bank of America's grant represents the largest corporate gift made to the Kidvestment Partnership.
The three-year commitment is part of Bank of America's corporate giving program, and was announced as Bank of America marked the transition of its Fleet retail branches throughout Greater Boston to Bank of America banking centers.
Stephen Karp, Chairman of the Board of Children's Hospital and Dr. James Mandell, President and CEO of Children's Hospital Boston, joined Bank of America's CEO and President, Kenneth D. Lewis, Bank of America Chairman Chad Gifford, and Bank of America Northeast Market President, Anne Finucane, in announcing this important gift during a presentation ceremony at Children's Hospital Boston. Lewis reinforced the bank's pledge to demonstrate higher standards by building strong business and philanthropic partnerships in the community.
"Healthy, vibrant neighborhoods cannot exist without healthy, vibrant children," Lewis said. "Today, as our new Bank of America signs, banking centers and ATMs signal our greater participation in the economic life of the city, we're proud that we also can make a strong contribution to the health and development of our young people through our support of the Kidvestment Partnership at Children's Hospital. This investment demonstrates our commitment to help build and sustain healthy neighborhoods everywhere we do business."
"Boston is fortunate to be home to Children's Hospital, which has established itself as the nation's leading pediatric medical center," said Chad Gifford, Chairman, Bank of America. "Through this gift we are celebrating that long-standing legacy and supporting Children's continued efforts to advance the cause of childhood health care."
The $1 million Bank of America Charitable Foundation grant will support Children's Kidvestment - the partnership for healthy kids - which brings critical community health programs beyond the hospital walls directly to at-risk children in Boston's neighborhoods. The program targets the leading health issues affecting children today, including asthma, mental/behavioral health and childhood obesity. This community health initiative focuses on educating children and parents to ensure that these children have a positive start in life, are cared for and safe, practice healthy behavior, and make successful transitions to adulthood.
"Kidvestment funds enable Children's to address the significant challenges facing inner city children and families, providing access to important health services and intervention programs in partnership with community health centers and public schools. Children's is working to reduce chronic illness and promote optimal health for underserved children throughout Boston," Karp said. "By supporting this initiative, Ken Lewis and Bank of America demonstrate the positive and immediate impact Boston's business leaders can make in children's lives. We're grateful for this generous gift and Bank of America's commitment to providing a healthier environment for Boston's children."
Continuing a Tradition of Community Support
The $1 million grant to Children's Hospital Boston follows a number of community development and philanthropic commitments that Bank of America has announced since completing its merger with FleetBoston Financial. Bank of America committed $406 million in loan financing and $18 million in grants for the Massachusetts Housing Partnership to help develop more housing for low- and moderate-income families in Boston and throughout the Commonwealth. Bank of America has also provided $200 million in loan financing over four years for community development in Boston, with a significant portion directed to the city's affordable housing strategy. Additionally, Bank of America has awarded a $1.5 million charitable gift to the Institute of Contemporary Art in Boston to support educational programs and to establish the Bank of America Art Lab, and has assumed sponsorships of the Bank of America Celebrity Series, Bank of America Championship, Boston Red Sox and the New England Patriots. Most recently as part of the bank's Neighborhood Excellence Initiative, Bank of America awarded a total of $400,000 in charitable grants to STRIVE/Boston Employment Services Inc. and Lawrence CommunityWorks for their work to promote vibrant neighborhoods.
"At Bank of America, we recognize that in order for a city to remain healthy and economically vibrant, we need to invest in its 'anchor institutions' and promote neighborhood excellence. In Boston and in the region's health care sector, Children's Hospital is certainly a recognized leader," said Anne Finucane, Northeast President, Bank of America. "We intend to continue to make a significant impact in the Greater Boston area, which will continue to benefit from our long history of public-private partnerships, community development and philanthropic investment, helping to create positive change in our neighborhoods and communities."
Expanded Banking Network and Financial Product Set
Bank of America provides its customers with access to one of the most powerful banking networks in the nation. Beginning today, customers in Metro Boston, Cambridge, Metro West, North Shore, South Shore and Cape Cod communities will now have access to Bank of America's full range of products and services at 185 banking centers and more than 930 ATMs including:
- Neighborhood Champions(TM) mortgage loans to help public servants - including police officers, firefighters, teachers and medical workers - realize the dream of home ownership; - The nation's largest, most convenient ATM network, which helps serve customers whether they are at home or traveling across the country; - New checking options that help customers avoid fees; - Expanded mortgage and home-lending choices available at more than 5,800 banking centers by 2005; and - Bank of America debit and credit cards automatically protected by Total Security Protection(R).
"We are delighted to bring Bank of America to Greater Boston. Customers will benefit from the expanded products and high level of service that our customers across the rest of the country enjoy," said Liam McGee, President, Consumer and Small Business Banking for Bank of America.
Bank of America
Bank of America is one of the world's largest 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 33 million consumer relationships with more than 5,800 retail banking offices, more than 16,500 ATMs and award-winning online banking with more than eleven million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 85 percent of the Global Fortune 500. Bank of America Corporation stock (ticker: BAC) is listed on the New York Stock Exchange. http://www.bankofamerica.com/
Children's Hospital Boston
Children's Hospital Boston is the nation's leading pediatric medical center, the largest provider of health care to Massachusetts' uninsured children, and the primary pediatric teaching hospital of Harvard Medical School. Children's provides pediatric and adolescent health services for patients from birth through age 21. In addition to 325 inpatient beds and comprehensive outpatient programs, it houses the world's largest research enterprise based at a pediatric medical center. More than 500 scientists, including eight members of the National Academy of Sciences, nine members of the Institute of Medicine and 10 members of the Howard Hughes Medical Institute comprise Children's research community. For more information about the hospital visit http://www.childrenshospital.org/ .
View Bank of America's online 'Customer Day One' Press Kit at: http://www.bankofamerica.com/newsroom/presskits
Bank of AmericaCONTACT: Joseph L. Goode of Bank of America, +1-617-434-4830; or JeffWebster of Children's Hospital Boston, +1-617-355-4102