The Hillcrest Foundation, established in 1958 by Mrs. W.W. Caruth, Sr., is dedicated to supporting charitable organizations in Texas, particularly those located in Dallas County and surrounding communities. Rooted in the Caruth family’s long history in the Dallas area dating back to 1848, the foundation was created to extend the family's legacy of generosity through impactful philanthropy. Managed through the Bank of America Private Bank Philanthropic Solutions office, the foundation distributes grants for education, health, and human services initiatives that align with its mission of advancing education, promoting health, and alleviating poverty.
The foundation supports both capital and program-specific grant requests, with a strong emphasis on the construction and improvement of permanent facilities, equipment purchases, and capital campaigns. While most grants are one year in duration, multi-year support is occasionally awarded. General operating support requests are explicitly not considered. Projects that are deemed essential, unique, or of high priority to the requesting organization—and for which funding may not be readily available from other sources—are favored. Proposals that seek challenge or matching funds are given special consideration.
Applications are accepted three times a year, with deadlines on February 28, July 31, and November 30. Applications must be submitted online via the Bank of America grantmaking portal. The foundation follows a standardized review process, which includes a preliminary compliance check, internal staff review, and final decision-making by the Board of Trustees. Organizations are encouraged to research the foundation’s focus areas and eligibility criteria before applying to ensure alignment. If awarded, grantees are required to submit a post-grant evaluation report within one year.
To be eligible, applicants must be Texas-based charitable organizations, with priority given to those serving Dallas County and nearby areas. Organizations that previously received a grant must observe a skip cycle: one-year grants require a two-year wait before reapplying, while multi-year grantees must wait two years after the final installment is received. If a proposal is declined, the organization must wait one year before submitting another application.
Grant decisions are typically made within three months of the application deadline. While the exact number of awards varies, grant amounts typically range from $10,000 to $300,000, with an average award of $35,000. Approximately 90% of all funding is awarded to organizations in North Texas. Additional information, including FAQs and staff contacts, is available at www.bankofamerica.com/grantmaking. Inquiries can be directed to the philanthropic team at tx.philanthropic@bofa.com.
Emphasize essential, high-priority projects; avoid general operations requests; clearly justify project necessity.
