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For Immediate Release: February 4, 2013

Providence College School of Business Receives Grant from Bank of America

boalogo.jpgProvidence, R.I. – Providence College’s School of Business (PCSB) has received a $10,000 grant from the Bank of America Charitable Foundation. The grant will allow PCSB students to serve as interns for the Capital Good Fund, a Providence-based non-profit organization that trains college students to work as interns offering financial services to individuals in Rhode Island and neighboring communities who would normally only have access to capital through fringe and predatory lenders.

The students will receive training from the Capital Good Fund and will work up to 10 hours per week for a six month period. They will provide individuals and families with assistance, opening bank accounts, increasing savings, and other financial tasks.

This effort is part of PCSB's commitment in offering a values-based business education, including serving organizations at work to improve social and economic conditions in our neighboring communities.

“This program is a fabulous example of how the PCSB provides an excellent values-based business education for our students but, even better, with this program we are educating through a network of mutual trust with Bank of America and the Capital Good Fund,” said Sylvia Maxfield, dean of Providence College School of Business.

Many PCSB students personally contribute toward their education and work to assist with the financial burden of the cost of a residential college experience. This grant will help mitigate the financial barriers these PCSB students face to working in non-profit settings and allow a more diverse group of students to contemplate using their business knowledge and skills in this type of community service.

“Supporting organizations that connect young people to the skills and experiences they need to prepare for the workforce is an important part of our efforts to improve the local economy,” said Bill Hatfield, Rhode Island president, Bank of America.  “Providence College’s internship program serves a dual purpose: it helps students gain the real-world skills they need to become future leaders, while also helping members of the community gain access to essential services.”

Providence College

         Providence College is the only college or university in the United States administered by the Dominican Friars. The Catholic, liberal arts college has an undergraduate enrollment of approximately 3,900 students and offers degrees in 49 academic majors.  Since 1997, Providence College has consistently been ranked among the top five regional universities in the north according to U.S. News’ America’s Best Colleges. 

Bank of America Corporate Social Responsibility

           Bank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. As part of these efforts, employee volunteers across the company contribute their time, passion and expertise to address issues in communities where they live and work. Learn more at www.bankofamerica.com/about and follow us on Twitter at @BofA_Community.

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Chrissy Centazzo
Public Affairs and Community Relations Coordinator
ccentazz@providence.edu
401-865-2413
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