BofA Contributes to L.A.

I’m writing in response to a recent opinion piece about local philanthropy (“Non Profits Must Adapt to New Reality,” May 12). Its author, Barbara Greenleaf, writes that Bank of America “focuses its philanthropic activity on its home town” of San Francisco.

I would like to note that the bank recently announced plans to increase local donations by nearly 80 percent or $10 million over the next three years. That includes $5 million to support construction of the Walt Disney Concert Hall (the largest gift we’ve ever made) and another $5 million to promote economic development in underserved areas of the county.

But philanthropy is only one measure of our commitment to Los Angeles. Bank of America has been doing business here for three-quarters of a century, underwriting the bonds that helped build entire communities and funding the development of industries ranging from agriculture and aerospace to energy and entertainment. Today we employ nearly 25,000 local residents who serve millions of people throughout the Southland.

Where a company is based matters less than what it contributes to the community. If our founder, A.P. Giannini, were alive today, I think he would argue that Bank of America has earned the right to claim all of California as its headquarters. And that includes Los Angeles.

R. THOMAS DECKER

Executive Vice President

Bank of America