Partnering to Keep Kids Reading Throughout the Summer

While Boston may be one of the most innovative cities for educating our next generation, summer learning loss has emerged as a key barrier in a quality education – both in Boston and nationally. Loss in learning varies across grade level, subject matter, and family income; in general, low-income students lose around three months of grade-level equivalency during the summer months.

According to Boston Public Schools Superintendent Carol Johnson, “Students whose families live in poverty lose a lot of academic growth over the summer and come back to school, sometimes, behind where they left off in

June.”

Moreover, Boston Public Library’s Director of Branch Libraries Christine Schonhart states, “statistics show that, for kids who don’t continue reading over the summer, by the time you’re in the 6th grade, you may

Started in 1996, Read Your Way to Fenway is a part of the Public Library’s Summer Reading Program. Through Read Your Way to Fenway, Bank of America partners with the Boston Public Library and The Red Sox Foundation to battle the issue of summer reading loss. The annual contest invites children ages 5-17 to submit an application outlining the books he or she read over the summer and a creative essay about their favorite.

“As part of our commitment to strengthening education in the Boston community, Bank of America focuses on creative ways to promote learning,” said Bank of America Massachusetts Market President Robert Gallery. “Read Your Way to Fenway empowers Boston’s children

At the end of the summer, the program culminates at Fenway Park during a Red Sox home game where winners are greeted by Wally the Green Monster, awarded with Red Sox apparel, honored in a pregame ceremony on the field and have the opportunity to cheer for the Red Sox during the rest of the game.

Combining summer reading with America’s favorite pastime, particularly Boston’s championship-winning Red Sox, helps to broaden the program’s appeal and motivate Boston’s young people to continue to read and write about their favorite books during the summer

The goal is that the exercise will, in turn, foster the participants’ love of reading.

“If you can make reading fun, it really connects with the kids and what I’ve seen this summer is [my son is] beginning to read more on this own, by his own choice,” said Tracey Lavin, whose son participated in this year’s contest.

“Bank of America has been a great partner with Boston Public Library for the past 15 years and I think they have been very supportive of Read Your Way to Fenway because they share a lot of the same values as the library,” Schonhart said. “They invest in the community, they are offering opportunity to children around the city

Join the conversation: Learn how we're working to help strengthen communities — on the Bank of America Facebook page

Partnering to fuel a family-owned business growth from generation to generation

Family-owned businesses make up more than 80 percent of all ventures and account for more than 60 percent of all job growth in Massachusetts. As the Commonwealth's largest corporations slow down or pause, family businesses are the power behind its economic future.

"Bank of America understands the vital role of family-owned businesses in fueling the U.S. economy," said Bank of America Massachusetts Market President Robert Gallery. "That's why we're helping family-owned

Headquartered in Worcester, Massachusetts, Polar Beverages is the country's largest independent soft-drink bottler. The company is also a fourth-generation, family-owned business that traces its roots back to 1882.

For a family-owned business to be successful the partnership between the business and its advisors, particularly its bankers, is critical.

In the good old days of mom and pop soda shops the

If success means growing the business, not just staying afloat and meeting payroll, then a company's banker needs to go the extra mile.

Polar Beverages has been working with Bank of America since 1989, a time when the company's sales were only $15 million. Over the last 22 years, Bank of America has partnered with Polar Beverages to help them acquire 35 companies.

One of the most difficult things for a family business is to transition from one generation to another. The

On the first major recap, Bank of America helped Polar Beverages to acquire its biggest competitor and center more ownership with the fourth generation of Ralph Crowley's immediate family.

"Since we started working with Bank of America, we've grown pretty dramatically. If all goes according to plan,

"Our relationship with the bank is based on trust and working together through the highs and lows. We've met with a lot of bankers over the years; however, the training and understanding that the Bank of America bankers bring is significantly better," continued Crowley. "Their understanding of our business and our balance sheet is first class."

Most recently, the bank helped Polar Beverages with an acquisition in Georgia that enabled the company to expand its operations further south. According to Michael Palmer, Senior Vice President, Global

"The Crowley family has been an excellent partner over the years and the long-standing success of our relationship is based on mutual trust and respect not. By standing by them and helping them to grow their business, they in turn have helped us to grow ours, creating the perfect mutually beneficial business relationship," said Michael Palmer.

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Investing and Empowering Biotech Innovations in Massachusetts

The life sciences, spanning from biotechnology and pharmaceuticals to medical devices and diagnostics, are a cornerstone of Massachusetts’ innovation economy. Representing more than 80,000 jobs in the Bay State, the industry has continued to grow despite the national recession. With its world-class academic institutions and medical centers, talented workforce and industry-sector leading companies, Massachusetts is a global leader in the life sciences.

Recently named a semi-finalist for the 2011 New England Innovation Awards, HighRes Biosolutions is one of the companies helping to keep Massachusetts a

leader in life sciences. Based in Woburn, Massachusetts, HighRes Biosolutions designs and builds innovative robotic systems and laboratory devices for lab researchers working on drug discoveries for diseases such as juvenile diabetes, HIV and cancer. HighRes was

In order for business like HighRes to thrive in the Boston economy, amidst a competitive and growing technology sector, they need creative, flexible banking options.

When HighRes sought assistance with growing and expanding its business, the company had several banking options in the Boston area – from both big banks and small community banks. Having worked with

“The programs Bank of America put in place were spot on with what we need to grow our business,” said Lou Guarracina, President and Co-founder of HighRes Biosolutions. “They provided us with a line of credit we couldn’t get anywhere else. It is allowing us to create jobs, buy equipment and move into a larger space.”

“We share two core values with Bank of America – flexibility and personal relationships,” said Matt Kiley, Vice President of Finance, HighRes Biosolutions. “The bank has been flexible with us, listened to us and given us what we needed. And we’ve got a great personal relationship with Bank of America that, frankly, we didn’t expect to have.”

The bank’s ability to position the company for continued growth is critical to why HighRes chooses to work with Bank of America and a vital component of the company’s success.

“When we grow, other businesses in Massachusetts grow,” continued Guarracina. “The students from the many universities in the area have become the

“HighRes is committed to growth in Massachusetts. They are going to keep jobs here and are committed to making a difference in the community,” said Deborah Barry, HighRes Biosolutions client manager and Vice President at Bank of America Merrill Lynch.

Join the conversation: Learn how we're working to help strengthen communities — on the Bank of America Facebook page

Building a Path to Career Success for Boston Youth

In Boston's knowledge-based economy, young people need both academic credentials and workplace skills to succeed. Studies have shown that summer jobs increase the employment, college-enrollment and earnings rates of participants after they graduate from high school. With the national unemployment rate for teens at an all-time high of 25 percent, it is more important than ever that Boston youth have access to meaningful summer job opportunities that can set them on the path to future success.

The Boston Private Industry Council (PIC) is a public-private partnership that connects the youth and adults of

“The young people who attend Boston public schools see the tall buildings from afar, yet rarely have the opportunity to go inside,” says Neil Sullivan, the

Fatoumata Sylla is one of these young adults. A senior at Boston Latin Academy, Fatoumata began her seven week internship with Bank of America this past summer and was immediately challenged by her manager, Wendell Chestnut to learn a new business vocabulary. A Senior Vice President and Market Manager for Small Business Banking, Wendell has been managing PIC interns during his 15 years at Bank of America and ensure continual progress.

“The program with Bank of America is successful in

Before I started at Bank of America, I thought I wanted to start my own business, but I didn’t know what that entailed,” said Fatoumata. “Now I know how important a role my education will play in building a successful business.”

For Fatoumata, the future is bright.

“Because of Fatoumata’s participation in the program, she now possesses a business acumen and relationships with key executives at the bank who she can call upon for references and advice as she applies to college and begins her career,” said Wendell.

Bank of America believes that investing in student leadership and workforce development plays a pivotal role in revitalizing the community and helping the neighborhoods thrive. “Through our partnership with the Boston PIC,” said Bob Gallery, Market President for Massachusetts, “we are helping Boston youth gain valuable skills, experience and professional relationships that put them on a path to achieving educational

Join the conversation: Learn how we're working to help strengthen communities — on the Bank of America Facebook page

Tackling the Opportunity Divide in Boston

Boston's reputation as a world-renowned knowledge capital is derived in large part from the teaching and research activities of more than 100 colleges and universities located in the Greater Boston Area. Despite these rich academic resources, however, roughly 17,000 young adults in Boston have not progressed beyond a high school diploma and are neither employed nor enrolled in postsecondary education.

The Opportunity Divide facing Boston’s at-risk youth is only getting worse, with the young adults who stand to benefit the most from education and work experience

Year Up is an innovative education and workforce development program seeking to close this gap for Boston’s young adults. Like Year Up, Bank of America is committed to strengthening the economic and social health of Boston and making sure the next generation is prepared to take on a leadership role in the community. Sharing this similar vision, Bank of America and Year Up first teamed up in 2001 to create pathways out of poverty for young adults and their families.

“We recognize there is a critical need to close the achievement gap facing at-risk young adults,” said

Year Up first opened its doors in July of 2001 to a class of 22 students in Boston. Over the past ten years, the program has grown to serve more than 300 18-24 year olds each year in Boston and 1,100 more students across eight other cities in the Unites States.

The year-long program begins with six months of rigorous technical training and classes in professional skills development, followed by six months in an internship with a local partner company.

“Bank of America has hosted 70 interns and hired seven graduates full-time in Boston,” said Casey Recupero, Year Up Boston’s Executive Director. “Bank of America has also played an important role in our growth, providing financial support that has helped us to scale our operations to serve more students both in Boston and across the country.”

Before Year Up, 22 year old Keith McDaniels was struggling to afford classes at a community college while working a minimum wage job. According to Keith, “I was really overwhelmed and frustrated by my financial situation and eventually gave up my college dream to work full-time for a security company to pay my bills.”

When Keith first heard about Year Up, he thought the program sounded too good to be true. However, he decided he had nothing to lose, applied and was accepted.

After completing the first six months of technical and professional training, Keith was placed in an internship at Bank of America as an Operations Analyst for Data Management. “I couldn’t believe my luck. I never imagined that I would be working for a bank, let alone one as well-respected as Bank of America. I came in early, stayed late and did everything I could to ensure that the bank would want to hire me full-time.”

Keith succeeded in impressing his managers, and was offered a full-time position. “This was a big turning point

More than 75 of Bank of America’s Boston employees have volunteered at Year Up. Deborah Barry, a Vice President and Client Manager at Bank of America, was introduced to Year Up through work and became a mentor in 2008. Impressed by Deborah’s dedication and commitment the students, Year Up asked her to join the Boston Leadership Council in 2010.

“Mentoring Year Up’s students has given me the

opportunity to share my work experience while simultaneously growing my own leadership skills,” said Deborah. “I’m not sure who gets more out of the relationship – me or the students. I’m grateful to work for a company that not only encourages me to give back to my community, but also provides the means for me to do so.”

Join the conversation: Learn how we're working to help strengthen communities — on the Bank of America Facebook page

Born to serve

Not many high school students can give a fundraising speech that helps to raise $60,000 for a nonprofit, but Sandy Liang did. Liang is one of those kids who decided at a young age that she wanted to help others. That desire benefits multiple organizations across Boston where Liang serves as a tutor and mentor, making a difference in her community.

“One person can change everything,” Liang said. It is up to people like her, she said, to “step up and give all we’ve got.” Liang volunteers at the Homework Assistance Program

Her early concern for others was spurred by her family’s community involvement. “Ever since I was a little girl, my parents loved helping people, helping the community,” Liang said. Her grandfather also instilled in her a sense of responsibility, teaching her that “every person has a duty to make the world a better place,” she said.

Leading By Example
Liang gives back to community in other ways. “I just try to immerse myself in as many activities as I can, and in each one, I always give my best work. I feel it shows through. I always give 100 percent,” she said.

At the Steppingstone Foundation, a nonprofit that prepares students to be admitted to, and succeed at, top independent and public exam schools, Liang works as a peer leader to organize volunteers, plan student events, and share her opinions with current students. “I’ll be there for them, whenever they need me. If they need me to do information meetings, if they need me to talk to kids, I’ll do it,” Liang said.

Liang also participates in Boston Latin’s Saturday Success School program, providing at-risk students with both mentoring and tutoring assistance every Saturday during the school year. Her involvement in Boston Latin’s Wolfpack Volunteers allows her, as external liaison, to find and plan volunteer projects and service opportunities for the group.

A Dream Come True
Because of her love of community service and her ability to lead by example, Bank of America provided Liang with a Student Leader award. Liang is one of hundreds across the country who received awards as part of Bank of America’s Neighborhood Excellence Initiative.

For her NEI internship, Liang spent seven weeks with the Boys and Girls Clubs of Boston. “The fact that I got accepted [to the program] was amazing because I wanted to work with nonprofits,” Liang said. A dream of Liang’s since she was young, the work was even better than she imagined.

While at the Boys and Girls Clubs, Liang wanted to experience everything the nonprofit had to offer. “I learned so many things. I tried to get as many opportunities with the different departments as I could,” she said. Liang worked directly with kids as young as six. “I made sure that I gave [the internship] my best because I knew that with one word I could change [a child’s] entire perspective,” Liang said.

Liang also spent time with the Boys and Girls Clubs’ development department helping to secure funds, as well as creating fact sheets for the communications department. The experience made a major impression on Liang. “[My time there] impacted me in so many different ways and on so many different levels,” Liang said.

Looking to the Future
Her experience at the Boys and Girls Clubs reinforced how much Liang cares about children and wants to help them, but on a larger scale. She has global, nonprofit aspirations for her future. “I want to be a pediatrician for UNICEF,” she said. “I want to do international work.”

See more about Bank of America's Neighborhood Excellence Initiative.

Neighborhood Excellence Initiative^® provides grants to help Boston’s urban youth

For 19 years, Artists for Humanity has been providing urban youth with a pathway to self-sufficiency through paid employment in the arts. The group’s central program is Arts Micro-Enterprise, an apprenticeship and leadership program employing more than 250 underserved urban teens annually by partnering them with professional artist mentors to create and market fine art, industrial design and digital graphics services.

Cradles to Crayons equips homeless and in-need children with the basic essentials they need to feel safe,

Artists for Humanity and Cradles to Crayons have been awarded $200,000 each by the Bank of America Charitable Foundation to help continue their work with Boston’s urban youth and homeless/disadvantaged children.

The grants are part of the Foundation’s Neighborhood Excellence Initiative^® , which operates in 44 cities in the U.S, as well as London.

The awards are part of ongoing effort by Bank of America to stimulate economic vitality in Greater Boston and in communities across the nation, said Bob Gallery, Massachusetts president for Bank of America. He said that the latest announcement brought the bank’s total commitment to Boston through the Neighborhood Excellence Initiative^® to $3.15 million since 2004.

Additional honorees:
The Foundation also selected five “Local Heroes” for their community service work: Clemintina Chery,

Five exemplary teens were named “Student Leaders” and selected to receive a paid eight week internship at a Boston-area non-profit. They were Francely Acosta, a Lawrence resident and senior at the Presentation of Mary Academy; Matthew Dias, a Boston resident and recent graduate of The English High School; Sheyna Baez, a Hyde Park resident and senior at Brighton High School; Sandy Liang, a Brighton resident and senior