Bank of America Corp (BAC, Financial) announced on January 28, 2025, that the 2024 Bank of America Chicago Marathon raised a record $36 million for local, national, and global nonprofits, marking the highest fundraising total in the event's history. Since the inception of its Charity Program in 2002, the marathon has generated over $358 million for various causes. Participants can still secure a spot in the sold-out 2025 event by committing to run and fundraise for an official charity team.
Positive Highlights
- The 2024 Chicago Marathon raised a record $36 million for charity, the highest in the event's history.
- Since 2002, the marathon has raised over $358 million through its Charity Program.
- The Charity Program has grown significantly, now involving 217 charities and over 17,000 runners expected in 2025.
- Carl Allegretti, a participant, raised a record $277,491 for three critical charities.
Negative Aspects
- The event is sold out, limiting direct participation to those who commit to fundraising for charity.
- Participants joining through the Charity Program must raise a minimum of $2,100.
Financial Analyst Perspective
From a financial standpoint, the Bank of America Chicago Marathon's record-breaking fundraising efforts highlight the company's strong community engagement and corporate social responsibility initiatives. The substantial funds raised not only support numerous charities but also enhance Bank of America's brand image and community relations. This aligns with the company's broader strategy of integrating social impact into its business model, potentially leading to increased customer loyalty and brand equity.
Market Research Analyst Perspective
The growth of the Bank of America Chicago Marathon's Charity Program reflects a broader trend of increasing consumer interest in socially responsible activities. The program's expansion from 14 charities in 2002 to 217 in 2025 indicates a rising demand for events that combine personal achievement with philanthropy. This trend presents opportunities for businesses to engage with socially conscious consumers and leverage such events for brand building and community engagement.
Frequently Asked Questions
Q: How much money was raised during the 2024 Bank of America Chicago Marathon?
A: A record $36 million was raised for charity.
Q: How can individuals participate in the 2025 marathon?
A: Individuals can secure a spot by committing to run and fundraise for an official charity team.
Q: What is the minimum fundraising requirement for charity participants?
A: Participants must raise a minimum of $2,100.
Q: How many charities are involved in the Charity Program?
A: The program includes 217 charities.
Read the original press release here.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
