As Thanksgiving approaches, we're often reminded that hunger is a very real issue, even in the United States. So its great to see some major financial institutions stepping up to support Feeding America, and its network of food banks.
In fact, if you're looking to see how much you can stretch your charitable dollar this holiday season, it would hard to do better than this—Ameriprise Financial has put up $500,000 as a matching gift, and the Bank of America Foundation has put up $1.5 million. Bank of America is even matching donations at a rate of $2 for every dollar donated, so taking both matching donations into account, every dollar you give is like giving $4, or the equivalent of 80 meals.
So that's a lot of meals Bank of America and Ameriprise Finanical are providing, but when you consider that Feeding America's network of food banks serves more than 45 million Americans each year, that number doesn't seem so big. In fact, well over half the donations needed to take full advantage of Bank of America's total contribution have already been made, so it seems likely that the pledge will be fulfilled well before the end of year deadline.
Luckily, that's not Bank of America's only contribution to fight hunger. The organization donated $12 million to the cause in 2013, along with 80,000 volunteer hours from its employees. It also focuses on hunger-related services on a global scale through its disaster relief initiative.