PROVIDENCE – Two local nonprofits, five community leaders and five high school students are being honored by the Bank of America Charitable Foundation with the state’s second annual Neighborhood Excellence Initiative awards.

Besides recognition – during an event this evening at the Rhode Island School of Design’s new Chace Center on North Main Street, where festivities were slated to begin at 5:30 – the winners will receive $450,000 in total prizes.

“Bank of America has long held the belief that a healthy community is a healthy place to do business, and we are committed to creating real impact in the Rhode Island community,” William F. Hatfield, the bank’s Rhode Island market president, said in a statement today.

“The Neighborhood Excellence Initiative underscores our belief that investing in leadership is a sound practice – whether building the capacity of our nonprofit organizations, developing current and emerging community leaders, or preparing our youth for the future.”

Honors are being given in three categories.

Neighborhood Builder honors – plus $200,000 apiece in unrestricted funding and a chance to participate in the BofA Foundation’s leadership development program – go to two local nonprofit organizations.

• John Hope Settlement House in Providence, a health, education and social services organization that focuses on caring for and developing children, supporting families and helping people reach their full potential. It will use the money for organizational, business and succession planning, training and product research. Peter D. Lee, the nonprofit’s president and CEO, was slated to accept the award tonight.

• NeighborWorks Blackstone River Valley in Woonsocket, a community development organization that works with public and private partners to create affordable housing and strengthen neighborhoods across Rhode Island. It will use the money to support ongoing programs and a new round of strategic planning. Joseph Garlick, the nonprofit’s executive director, was expected to accept the award.

Local Hero honors – plus donations of $5,000 apiece to be given by the BofA Foundation to each winner’s charity of choice – go to five local leaders “who contribute significantly to the health of our neighborhoods.”

• Brenda J. Clement of Pawtucket, Statewide Housing Action Coalition (SHAC) director at the Providence-based Housing Network of Rhode Island, a statewide association of nonprofit community development corporations.

• Robert DeBlois of Seekonk, for his work as director of the Urban Collaborative Accelerated Program, a Providence-based public school dedicated to reducing dropout rates in the urban-core cities of Providence, Central Falls and Cranston

• Sister Ann Keefe of Providence, for her work with Providence ¡CityArts! for Youth, which aims to provide professional arts education to Providence children ages 8 to 14.

• Dennis Littky of Providence, for his work as co-founder and co-director of The Met Schools. (READ MORE)

• Thonghoun Pathana of Smithfield, who manages the capital campaign at the Laoitian Community Center of Rhode Island.

Student Leader honors go to five “exemplary high school juniors and seniors with a passion for improving our communities. Each of the winners – whose names were announced this summer (READ MORE) – already has received an eight-week paid internship with the Boys & Girls Club of Greater Providence, as well as a chance to attend a national Student Leadership Summit this July 13 to 18 in Washington, D.C.

• Caroline Adegun, a student at Classical High School in Providence.

• John Goncalves of Providence, a student at The Wheeler School.

• Yangyang Guo, a student at Cumberland High School.

• Adam Neupauer, a student at East Greenwich High School.

• Sophia Wright of Cranston, a student at The Metropolitan Regional Career & Technical Center in Providence, one of The Met Schools.

Since its inception six years ago, the Neighborhood Excellence Initiative – an annual program expanded into Rhode Island in 2007 – has recognized more than 400 organizations and 2,000 individuals nationwide.

The initiative is part of Bank of America Corp.’s 10-year, $1.5 billion corporate giving campaign. (READ MORE) Next year, Bank of America plans to embark on a new, 10-year goal of donating $2 billion to nonprofit organizations nationwide that are working to improve the health of neighborhoods nationwide, the company said today.

“We look at it under the heading of enlightened self-interest,” Hatfield said in announcing the local awards program in late 2006. “We’re a very successful company – due, in large, part to strong relationships at the local level – and in order for Bank of America to thrive, we need communities to thrive.”

Bank of America Corp. (NYSE: BAC) is one of the world’s largest financial institutions, with clients in 175 nations, including 98 percent of the U.S. Fortune 500 and 80 percent of the Fortune Global 500. In the United States alone, it serves more than 56 million consumers and small businesses via more than 5,700 retail offices and 17,000 ATMs. To learn more, visit www.bankofamerica.com.