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Also known as: FOUNDATION INC
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Bank Of America Charitable Foundation Inc. is a private corporation based in CHARLOTTE, NC. The foundation received its IRS ruling in 2004. The principal officer is Corporation Trust Company. It holds total assets of $10.1M. Annual income is reported at $218.8M. Total assets have decreased from $86.4M in 2011 to $7.6M in 2023. The foundation is governed by 11 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. Tax records are available from 2016 to 2023. Grantmaking is concentrated in California. According to available records, Bank Of America Charitable Foundation Inc. has made 173,734 grants totaling $936.3M, with a median grant of $300. Annual giving has grown from $306.5M in 2021 to $629.8M in 2022. Individual grants have ranged from N/A to $5M, with an average award of $5K. The foundation has supported 31,174 unique organizations. The foundation primarily supports organizations in California, New York, District of Columbia, which account for 21% of all grants. Grantmaking reaches organizations across 55 states. Contributions to this foundation are tax-deductible.
Bank Of America Charitable Foundation Inc. reported 173,734 individual grants totaling $936 million between 2021 and 2022 across its IRS Form 990-PF filings, with a median grant of $300. Half of those grants fell between $83 and $1,000. Its largest single grant in the record was $5.0 million. Its most recent available filing, for fiscal year 2023, reports $226 million in total giving.
The largest share of grants went to organizations in CA (18,961 of 173,734), followed by NC (17,623) and NY (14,485). In total the foundation's grantees span 55 states. Of its 31,452 distinct grantees, 76 percent received funding more than once, so repeat relationships are the norm rather than the exception. Its largest institutional recipients were Charities Aid Foundation America ($30 million), Habitat For Humanity International ($14 million) and Foundation For The Carolinas ($14 million).
Computed from 173,734 individual grant records (2021–2022) in this foundation's IRS Form 990-PF Part XV filings, reaching 55 states. Source: IRS 990-PF.
Smallest Grant
N/A
Median Grant
$250
Average Grant
$6K
Largest Grant
$5M
Based on 50,811 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Bank Of America Charitable Foundation Inc. primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 173,734 grants. Its grantmaking reaches organizations primarily in CA, NY, DC.
Bank Of America Charitable Foundation Inc. has distributed a total of $936.3M across 173,734 grants. The median grant size is $300, with an average of $5K. Individual grants have ranged from N/A to $5M.
The application deadline is SEE ABOVE. The organization will only consider proposals aligned with the foundation's community funding priorities and located in states in which the bank of america has a presence. See the 'frequently asked questions' under the 'about us' section of the webpage at www.bankofamerica.com/foundation.
Bank Of America Charitable Foundation Inc. is headquartered in CHARLOTTE, NC. While based in NC, the foundation distributes grants to organizations across 55 states.
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| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Colleen O Johnson | SECRETARY | $0 | $0 | N/A |
| Frank Racaniello | TAX | $0 | $0 | N/A |
| Steve D Boland | CHAIRMAN/DIRECTOR | $0 | $0 | N/A |
| Cynthia Bowman | DIRECTOR | $0 | $0 | N/A |
| Ebony Thomas | PRESIDENT | $0 | $0 | N/A |
| Susan Campbell | TREASURER | $0 | $0 | N/A |
| Libbie A Pryor | ASSISTANT SECRETARY | $0 | $0 | N/A |
| Alastair Borthwick | DIRECTOR | $0 | $0 | N/A |
| Jennifer Locane Silvania | VICE PRESIDENT | $0 | $0 | N/A |
| Andrew D Plepler | DIRECTOR | $0 | $0 | N/A |
| Paul Donofrio | DIRECTOR | $0 | $0 | N/A |
Total Giving
$225.7M
Total Assets
$7.6M
Fair Market Value
$7.6M
Net Worth
$7.6M
Grants Paid
$225.6M
Contributions
$218.9M
Net Investment Income
$1.2M
Distribution Amount
$1.2M
Total Grants
173,734
Total Giving
$936.3M
Average Grant
$5K
Median Grant
$300
Unique Recipients
31,174
of 2022 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| American Heart AssociationPROGRAM/OPERATING SUPPORT | Dallas, TX | $2.5M | 2022 |
| Morehouse CollegePROGRAM/OPERATING SUPPORT | Atlanta, GA | $2.5M | 2022 |
| Spelman CollegePROGRAM/OPERATING SUPPORT | Atlanta, GA | $2.5M | 2022 |
| Atrium Health FoundationPROGRAM/OPERATING SUPPORT | Charlotte, NC | $2.5M | 2022 |
| Habitat For Humanity InternationalPROGRAM/OPERATING SUPPORT | Americus, GA | $2M | 2022 |
| Johnson C Smith University IncorpoPROGRAM/OPERATING SUPPORT | Charlotte, NC | $2M | 2022 |
| Special Olympics IncPROGRAM/OPERATING SUPPORT | Washington, DC | $1.8M | 2022 |
| American Diabetes Association ArPROGRAM/OPERATING SUPPORT | Merrifield, VA | $1.6M | 2022 |
| American Cancer Society Inc - GeorPROGRAM/OPERATING SUPPORT | Atlanta, GA | $1.6M | 2022 |
| Enterprise Community Partners IncPROGRAM/OPERATING SUPPORT | Columbia, MD | $1.3M | 2022 |
| Local Initiatives Support CorporatPROGRAM/OPERATING SUPPORT | New York, NY | $1.3M | 2022 |
| UnidosusPROGRAM/OPERATING SUPPORT | Washington, DC | $1.2M | 2022 |
| The Obama FoundationPROGRAM/OPERATING SUPPORT | Chicago, IL | $1M | 2022 |
| Charities Aid Foundation AmericaPROGRAM/OPERATING SUPPORT | Alexandria, VA | $1M | 2022 |
| National Urban League IncPROGRAM/OPERATING SUPPORT | New York, NY | $1M | 2022 |
| Smithsonian InstitutePROGRAM/OPERATING SUPPORT | Washington, DC | $1M | 2022 |
| Brigham And Women'S HospitalPROGRAM/OPERATING SUPPORT | Boston, MA | $1M | 2022 |
| World Trade Center Performing ArtsPROGRAM/OPERATING SUPPORT | New York, NY | $1M | 2022 |
| Naacp Empowerment Programs IncPROGRAM/OPERATING SUPPORT | Baltimore, MD | $1M | 2022 |
| Rockefeller Philanthropy AdvisorsPROGRAM/OPERATING SUPPORT | New York, NY | $1M | 2022 |
| Close Up FoundationPROGRAM/OPERATING SUPPORT | Alexandria, VA | $800K | 2022 |