Bank of America has named the CASH (Creating Assets, Savings & Hope) Campaign of Maryland a 2017 Neighborhood Builder, recognizing the nonprofit’s efforts to promote economic stability and maximize financial opportunities and resources for low-income Marylanders. The CASH Campaign of Maryland is a new nonprofit created by the merger of the Maryland CASH Campaign and Baltimore CASH Campaign.

Neighborhood Builders® is a demonstration of Bank of America’s efforts to build thriving communities by advancing economic mobility through a focus on workforce development, community development and basic needs. This philanthropic program combines leadership development resources with $200,000 of flexible funding intended to help increase organizations’ capacity and impact in their communities. Since 2004, Bank of America has invested $220 million in nearly 1,000 nonprofits and nearly 2,000 nonprofit leaders across 45 U.S. communities. In Maryland, a local selection committee comprised of leaders from the non-profit and business sectors selects awardees from a competitive applicant pool. Past recipients include the Urban Alliance and Lighthouse Inc.

“Bank of America is committed to increasing economic mobility for individuals and families and to improving financial lives across our community,” said Sabina Kelly, Bank of America market president for the greater Maryland region. “We are pleased to partner with The CASH Campaign of Maryland and to recognize its outstanding work.” 

“I started as a tax volunteer with Baltimore CASH 16 years ago. It's incredible to see the growth and impact they have had on the financial security of Baltimore residents. I'm thrilled to join together Baltimore and Maryland CASH into a new organization to help even more Baltimore City residents achieve their financial dreams,” said Robin McKinney, co-founder and chief executive officer, CASH Campaign of Maryland. 

“The CASH Campaign of Maryland is proud to accept this award. With this generous gift, we can enhance our ability to serve more Marylanders in their quest for financial security,” said Sara Johnson, co-founder and chief operating officer, CASH Campaign of Maryland.

“For example, this past tax season, we received more than 16,000 calls for our free tax preparation services in Baltimore, but we were only able to file taxes for 9,636 households. The Bank of America Neighborhood Builders award will help us provide services to more low-income Marylanders.  It also will enable us to continue to offer free financial coaching with one-on-one appointments and workshops for even more low-income people who are ready to take control of their financial lives,” said Johnson.

Today’s presentation occurred at a celebratory program at the Reginald F. Lewis Museum of Maryland African American History & Culture. At the event, the bank also recognized the contributions of many greater Maryland area nonprofit organizations with which it partners. Also, the Baltimore Symphony Orchestra’s OrchKids performed for the guests and Dr. Freeman Hrabowski, President of the University of Maryland Baltimore County (UMBC), delivered keynote remarks which highlighted the strong partnership between UMBC and the CASH Campaign of Maryland.

Merger of Two “Sister” Organizations

The Maryland CASH Campaign was a statewide network of organizations promoting programs, products and policies that increased the financial security of low-to-moderate income individuals and families.

The Baltimore CASH Campaign led a coalition of partners to provide direct services like free tax preparation, financial education and coaching to increase the financial security of low-income individuals and families.

The organizations combined to become the stronger CASH Campaign of Maryland which will continue to promote economic advancement for low-to-moderate income individuals and families in Baltimore and across Maryland.

Creating Assets, Savings & Hope

The new CASH Campaign of Maryland is in a stronger position to work on behalf of low-to-moderate income individuals and families across the state by helping to maximize their financial futures by offering educational programs, asset building services, and outreach connecting clients to wealth creation resources across Maryland, as well as advocating for policies that are beneficial to the people they serve. 

To accomplish its mission in Baltimore and across Maryland, CASH will:

• Provide free Volunteer Income Tax Assistance (VITA) to help low-income individuals and families file tax returns, avoid predatory fees and claim the Earned Income Tax Credit (EITC)

• Coordinate and expand access to free, fact-based financial education and coaching

• Connect low-income individuals and families to high-quality financial services and products

• Recruit, train and manage a corps of volunteers

• Lead a network of direct service providers that offer free tax preparation, financial education and coaching, benefits screening, and access to appropriate financial services

• Build statewide program capacity by integrating asset building services into public and private systems

• Lead research and advocate on effective program practices, innovative state policies, and issues affecting the financial security of low-income individuals and families

About the CASH (Creating Assets, Savings and Hope) Campaign of Maryland

The new nonprofit CASH Campaign of Maryland works with its partners across the state to promote programs, products, and policies that increase the financial security of low-to- moderate-income individuals and families across the state. Most services are available at no cost to participants including free tax preparation, financial education classes and financial coaching. For more information, contact Sara Johnson, Co-Founder & C.O.O., CASH Campaign of Maryland, sara@cashmd.org or 410-234-2801. www.cashmd.org, @CASHMD

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 34 million active users, including approximately 24 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.