NEWPORT BEACH, CA - (May 22, 2006) - HomeAid today announced an expansion of its relationship with Bank of America, noted as the 2005 top direct lender by National Real Estate Investor magazine, through a $200,000 Bank of America contribution and $100,000 sponsorship to fund education and expansion initiatives for the organization. The $200,000 donation will be used to support chapter sustainability through HomeAid's Chapter Success Model; the $100,000 sponsorship will help HomeAid expand its reach into new communities around the country. HomeAid is a national non-profit organization that works with the building industry and its trade partners to provide dignified housing for the temporarily homeless to rebuild their lives.
Created through a joint effort between HomeAid and the instructional design department at Purdue University, the Chapter Success Model provides a proven methodology and deep repository of educational and business tools for current and prospective chapters to engage local builders, trade partners and community influencers in housing projects. Bank of America helped to fund the first two years of the three-year development process of the model. This donation will help complete the final phase of the model, including the creation of a comprehensive online knowledge center.
"Several years ago, we recognized that HomeAid's model for bringing on board new chapters and helping them leverage each dollar that they receive two- to three-fold through in-kind contributions of products and services was unique to the building industry and a tremendous asset in the fight against homelessness," said Jill Janka, Bank of America Home Builder Division executive. "Because of this type of commitment and results-oriented approach, Bank of America is proud to increase our contribution to further develop the model. We believe in this organization and know that they are effectively improving the lives of the homeless throughout the country."
The Chapter Success Model was developed after conducting a detailed needs assessment with each of HomeAid's 17 national chapters. From the assessment, four core areas of competency were identified to cultivate and manage a HomeAid chapter. These four areas involved board relations, chapter development (management), housing development (initiating projects) and community relations. Based on these core competencies, specific curricula and business tools were created to grow the chapter representatives' skill set and capabilities.
"The Chapter Success Model fosters much greater productivity among our chapter leaders to ultimately help the homeless through initiating housing projects, and we are extremely proud and grateful for the generous support of Bank of America, which had the vision and faith in us to fund our model development," said Genette Eaton, chief executive officer of HomeAid. "Bank of America's history of philanthropy makes them a great match for us. Together, we can help thousands of individuals who need a second chance in life."
About HomeAidHomeAid is the nation's largest nonprofit builder of housing for the temporarily homeless. Founded in 1989, the organization has built housing for more than 60,000 men, women and children. Established by the Building Industry Association of Southern California, an affiliate of the National Association of Home Builders, HomeAid has completed 119 housing projects nationwide with another 58 projects currently in development. HomeAid includes a network of 17 chapters in 11 states and three offices in Washington, D.C.; Newport Beach, CA; and New Orleans, LA (for hurricane-rebuilding efforts). For more information about HomeAid, call 949-258-0850 or visit
www.homeaid.org.
About Bank of AmericaBank 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, investment, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 38 million consumer and small business relationships with more than 5,800 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 14 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 97 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
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