As part of “Giving Tuesday,” Bank of America announced it is donating nearly $1.1 million to 17 nonprofits in the Charlotte area.
The agencies are focused on community development and dealing with issues fundamental to economic mobility, such as providing emergency rent funds, affordable housing services and family emergency shelters, the bank said.
The donations are in the form of grants, and the bank made its announcement Tuesday morning.
Giving Tuesday encourages people to donate to local charities during the holiday season after Thanksgiving. Many other Charlotte-area nonprofits also are seeking assistance.
Also on Tuesday, Speedway Children’s Charities announced that its chapters at Charlotte Motor Speedway and seven other race tracks will distribute about $3.1 million in grants to a record 448 charitable organizations across the country this year. The amount is about $200,000 more than last year.
Tips for wise giving
▪ Research organizations before deciding to give money to them.
▪ Beware of sound-alike charities that use names similar to well-known ones. Legitimate charities are transparent and willing to provide information.
▪ If you get a call from an unfamiliar organization asking for a contribution by credit card, just hang up.
▪ Be wary of broad statements that claim “all proceeds go to charity.” Look for disclosures that state exactly how much will go to the charity’s programs.
Staff writer Joe Marusak contributed.