Frank Loomis Palmer Fund

The Frank Loomis Palmer Fund was established in 1936 with the intent to provide enduring support for organizations that enrich the community of New London, Connecticut. Administered through Bank of America’s Philanthropic Solutions as trustee, the fund was created to advance opportunities for underserved populations, particularly in the areas of education, cultural programming, human services, and health care. Over its long history, the Palmer Fund has sustained a strong commitment to improving the quality of life for residents of New London by investing in nonprofit programs that address core community needs. The Palmer Fund supports a wide range of program areas including arts, culture, and humanities, education, health, and human services. The funding is designed to strengthen organizations working directly in New London and to enhance the availability of resources for vulnerable populations. Grants are typically awarded for one year in duration, although in certain cases, multi-year commitments may be considered. However, the fund limits consecutive annual funding to no more than three years to encourage both diversification of grantee support and organizational self-sufficiency. This ensures that more organizations have access to Palmer Fund resources while promoting sustainability. Applications for the Frank Loomis Palmer Fund are due annually on November 15. Submissions are completed through an online application portal maintained by Bank of America, and applications must be submitted by 11:59 p.m. on the due date. If the deadline falls on a weekend or federal holiday, applications are accepted until the following business day. All proposals undergo a thorough review process by Bank of America staff, trustees, and advisors to ensure alignment with the donor’s mission. Applicants are notified of funding decisions by letter approximately three to four months after the submission deadline, typically during the first quarter of the following year. Organizations seeking funding must demonstrate a direct service impact within New London, Connecticut. This geographic limitation is non-negotiable, as the fund was established specifically to benefit the city’s residents. Proposals must include clear goals, measurable outcomes, and, in certain cases, a breakdown of the number or percentage of New London residents directly served by the program. The fund typically provides general operating support as well as program-specific grants, but it does not fund endowment campaigns. While start-up organizations are generally not a priority, established nonprofits with a track record of service in the community are encouraged to apply. In addition to submitting a strong application, funded organizations are required to complete a Post Grant Evaluation Report within one year of receiving the award. This report must outline how the funds were used, detail measurable accomplishments, and include an itemized breakdown of expenditures. For multi-year grants, annual reports are required each year until the conclusion of the award term. Organizations that fail to submit required reports will be ineligible for future funding from the Palmer Fund. For questions about eligibility or the application process, applicants may contact Bank of America Philanthropic Solutions’ Connecticut office at ct.grantmaking@bofa.com. Additional staff contacts include Amy R. Lynch, Managing Director, reachable at amy.r.lynch@bofa.com or 1-860-244-4870, and Janneth Ibrahimbegovic, SVP, at janneth.achury@bofa.com or 1-860-244-4861. These contacts can provide guidance regarding the application portal, deadlines, and reporting requirements, but applicants are strongly encouraged to first review the detailed foundation information provided online.