BofA launches website for non-profits

Bank of America Corp. today redesigned its website to help non-profit organizations apply for grants from nearly 70 foundations managed by the bank. “People are looking for more efficiency and more transparency,” said Cary Grace, Boston-based group executive for the National Institutional Advisory Solutions, a unit of Bank of America. “The site gives not-for-profits a seamless way to research at the time they want to do it.” The Search for Grants site allows the user to gather information about individual foundations through a consolidated portal, obtaining information about missions, application deadlines, contacts and grant criteria. The site also includes some of the recent awards of the foundation as well as a section for applications. At the same time, the bank is launching a standard application form that can be used for the different foundations. In the past, the site was not as interactive and did not have the same search capabilities, Ms. Grace said. The Charlotte, N.C.-based bank distributes more than $350 million annually to charities on behalf of the foundations it serves as trustee or grant-making agent. The 70 foundations that are on the website represent about 20% of the total grant dollars distributed by the bank, Ms. Grace said. The bank plans to increase the number of foundations on the site to 100 by the end of the year. Overall, the bank is a grant-making agent, trustee or co-trustee for more than 2,000 private foundations, with more than $35 billion in assets.