Award comprises funding and development support

14 December 2010

The Bank of America Charitable Foundation has made children's charity Chance UK a winner of of its fourth annual Neighbourhood Excellence Initiative (NEI) Awards, at a ceremony held at Bank of America Merrill Lynch's City offices on 30 November.

Through this programme, Bank of America Merrill Lynch recognises two charitable organisations who are helping to improve their local communities. Since 2007, the company has committed more than £1.7m in NEI awards to support the local London community.

"Through our Neighbourhood Excellence Initiative, we are helping to generate meaningful and cumulative economic and social impact at the local level where it's needed most," said Jonathan Moulds, president, Europe at Bank of America Merrill Lynch. "In today's tough times, communities need our support more than ever. This programme is designed to give that support through the effective combination of partnership, leadership development and flexible funding."

The initiative continues to help some of London's best charities improve their long-term viability and bolster leadership strength, retain and hire new staff, and extend the depth and reach of their services – capabilities that are integral to community revitalisation and critical in the current economy when charity funding is down and demand for services is up.

The Mayor of London Boris Johnson said: "The army of volunteers who dedicate their time to putting something back into their communities are the unsung heroes of the capital. The NEI awards are a great way of championing their efforts. It's fantastic to see that even in these difficult times, so many individuals and organisations are still committed to helping others, and I congratulate all of this year's winners."

Chief Executive of Chance UK, Gracia McGrath OBE, said, "We are delighted to receive this award. The funding element will help Chance UK transform the lives of even more children in London. As innovators of volunteer-based social action Chance UK is delivering the critical Big Society agenda, and we are thrilled to have Bank of America Merrill Lynch as our supporters."

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