The money will be awarded to Johnson C. Smith University business majors during the 2005-2006 fiscal year. The school will receive funding from Bank of America over two years with two payments of $125,000. Students will receive a scholarship and consideration to complete internships with Bank of America. 

“Providing support to organizations like Johnson C. Smith University, which set their own higher standards in service and improve the quality of life in our communities, is key to our strategy to build capacities that truly make a difference,” said Bank of America Charlotte Market President Graham Denton Jr. 

The Bank of America Foundation operates with one of the largest philanthropic budgets of any corporate foundation in the United States. In 2004, the foundation contributed more than $108 million in cash to nonprofit organizations across the country.

Johnson C. Smith University is accredited by the Association of Collegiate Business Schools and programs. Founded in 1867 as Biddle Memorial Institute, the university enrolls approximately 1,500 students and confers bachelor’s degrees to hundreds of students each year in 32 different majors.