May 1, 2008 | Read Time: 1 minute
Grant seekers have a new online resource to consult.
Bank of America has created a Web site that provides information about nearly 70 foundations for which it serves as trustee or grant-making agent. Profiles on the site detail each foundation’s mission and the causes it supports, application procedures, and recent grants, as well as the bank employee to contact for questions about the fund.
“We are very committed to the transparency of the giving,” says Cary Grace, a managing director at Bank of America.
Altogether Bank of America serves as trustee or grant-making agent for more than 2,000 foundations, which award more than $350-million annually. The bank plans to continue to add foundations to the site, and hopes to have information about more than 100 funds online by the end of the year.
Bank of America hopes that the new site will make it easier for new or smaller charities to compete for grants, says Don Greene, an executive in the bank’s philanthropic management group.
“We’d hate to think that the vast majority of resources only go to those organizations with the largest development budgets,” he says.
