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Banks hope gifts are spent wisely.

The Charlotte Observer (Charlotte, NC )

| October 09, 2005 | This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Rick Rothacker

Oct. 9--Bank of America Corp. and Wachovia Corp. last year both launched initiatives designed to get more bang for their charitable bucks.

The banks have developed programs that target a portion of their contributions to specific community issues. Beyond money, they provide additional help such as leadership training and information sharing among nonprofit groups.

Bank of America's Neighborhood Excellence Initiative will give $30 million over two years to nonprofits, community leaders and students in 38 markets, including Charlotte.

Wachovia's Teachers and Teaching Initiative will give $20 million in grants over five years. The program supports teacher training with an eye on improving student…

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