Good+Foundation Receives Critical Funding from Bank of America to Support Low-Income Families in New York City During the COVID-19 Crisis

NEW YORK, April 6, 2020 /PRNewswire/ -- Today, Good+Foundation, a leading nonprofit that works to dismantle multi-generational poverty by pairing donations of goods with innovative services, is humbled to announce a $300,000 commitment from Bank of America to help provide diapers to low-income families in New York City impacted by the COVID-19 pandemic. This generous financial donation will allow the organization to distribute approximately 2 million diapers through its network of 30 grantee partners across all five boroughs.

"Good+Foundation has been our long-time partner and is cementing its place as a reliable resource New Yorkers can count on, especially in times of uncertainty and necessity," said Anne Walker, Bank of America New York City Market President. "This partnership will support families in need across the city who are struggling to secure even the most basic supplies. As a mother of three, I understand the challenges of parenthood and offer my full support for supplying these vital resources. During this challenging time, it's essential that we all come together – as New Yorkers always do – to support and uplift one another."

Founded in 2001, Good+ distributes $6 million worth of goods annually — including diapers, cribs, high chairs and strollers — through its network. Grantees include home visiting programs like Nurse-Family Partnership, family preservation programs including the Center for Family Representation and fatherhood programs like CUNY Fatherhood Academy, Forestdale Strong Fathers and STRIVE. By tying donations of goods to parental enrollment in programs, Good+ provided 30,000 families in 2019 with the tools they need to keep their children healthy while they work to reach their education, employment and personal goals. To date, Good+ has raised more than $500,000 for its Crisis Fund to support COVID-19 relief.

"The Good+Foundation team and I are so grateful for this remarkable gift and for Bank of America's longstanding support of our work," Good+ Founder and President Jessica Seinfeld said. "For families struggling during this crisis, worrying about how to keep a baby in diapers adds yet another layer of stress. With this grant, we can help alleviate some of that anxiety while also providing an essential children's item."

For parents and caregivers of young children, diapers are an essential, expensive and unrelenting need, costing an average of $70-$80 per month for each child. Diapers cannot be secured through government programs like Electronic Benefits Transfer (EBT) or the Special Supplemental Nutrition Program for Women, Infants and Children (WIC). A shortage of diapers in recent weeks means that diapers are now the top requested item from Good+ grantee partners.

Bank of America has been a funder of Good+Foundation since 2008. In addition to providing financial support, the bank has been a key source of volunteer support for the organization.

Good+ has a staff of eleven in NYC, and Bank of America volunteers are critical to helping the team process, sort and distribute donations to partners based on their clients' real-time needs. Last year alone, Bank of America employees volunteered 368 hours of their time — the equivalent of 46 days of work — to Good+, bundling more than 9,000 children and adult garments as well as books, feeding items, toys and more.

About Bank of America: At Bank of America, we're guided by a common purpose to help make financial lives better, through the power of every connection. We're delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It's demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. 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. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).

Bank of America has delivered more than $2 billion in philanthropic investments since 2009, with approximately $250 million in 2019 alone. In April 2019, the company announced a $5 billion Bank of America Community Homeownership Commitment™ to benefit low- and moderate-income homebuyers and communities across the U.S. over the next five years. Also in 2019, Bank of America Community Development Banking provided a record $4.88 billion in loans, tax credit equity investments and other real estate development solutions. Between 2005 and 2019, Bank of America financed 202,800 affordable housing units. To meet the unique needs of its 12 million small business owners, the company provides advice, solutions and dedicated support. Bank of America maintained its position as the nation's top small business lender at the end of 2019, with $38.9 billion in total outstanding small business loan balances (defined as business loans in original amounts of $1 million and under), up 7% year over year.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

www.bankofamerica.com

About Good+Foundation: Good+Foundation is a leading national nonprofit that works to dismantle multi-generational poverty by pairing tangible goods with innovative services for low-income fathers, mothers and caregivers, creating an upward trajectory for the whole family. With an early focus on mothers and children, Good+ expanded programming in 2010 to strengthen support for non-custodial and formerly incarcerated fathers to address one of the root causes of cyclical poverty: father absence. Today, the organization partners with a national network of social service programs to pair goods – such as cribs, car seats and diapers – with life skills training, employment assistance, financial literacy, co-parenting classes and more. By giving fathers tools, dignity and opportunities to re-engage with their families, Good+ is improving outcomes for children.

Good+Foundation has offices and warehouses in New York City and Los Angeles. In 2019, 87 percent of expenses went directly back into Good+ programs. The organization has earned seven consecutive 4-star ratings on Charity Navigator – the highest rating possible – as well as a GuideStar Platinum Seal of Transparency and accreditation by the Better Business Bureau's Wise Giving Alliance for transparency, efficiency and operations.

View original content to download multimedia:http://www.prnewswire.com/news-releases/goodfoundation-receives-critical-funding-from-bank-of-america-to-support-low-income-families-in-new-york-city-during-the-covid-19-crisis-301036118.html

SOURCE Good+Foundation