Richard & Caroline T. Gwathmey Memorial Trust

The Richard & Caroline T. Gwathmey Memorial Trust was created in 1981 by Mrs. Elizabeth Gwathmey Jeffress to honor the memory of her parents. Mrs. Jeffress held a particular interest in Virginia’s history, literature, art, and architecture, and her commitment to these fields remains central to the trust’s purpose. The trust is managed through the Virginia office of Bank of America as part of its Institutional Investments & Philanthropic Solutions division, ensuring fiduciary oversight and broad statewide impact. The purpose of the Gwathmey Memorial Trust is to support established nonprofit organizations in Virginia that are addressing critical community needs or preserving the state’s cultural and historical heritage. Funding priorities vary by application cycle. For the March 1 deadline, nonprofits working on ensuring access to basic services such as food, health care, shelter, or safety are eligible, as are organizations focusing on workforce development and environmental protection. For the September 1 deadline, the trust accepts applications from nonprofits dedicated to arts, culture, humanities, preserving Virginia’s history, or improving educational outcomes for disadvantaged populations. The trust offers one-year grants for both programmatic and general operating support. The typical grant size ranges between $5,000 and $60,000, though specific amounts may vary based on project scope and organizational needs. Capital expenditures and endowment requests are not considered. The trust emphasizes geographic diversity in its awards across the Commonwealth of Virginia and expects applicants to demonstrate diversified funding support, measurable outcomes, and a clear return on investment for the community. Additionally, recipients may not reapply for funding until at least three years after receiving a grant. The submission process requires nonprofits to apply through Bank of America’s online GivingHub system. Applicants should review the procedures available in PDF or Word formats to ensure compliance with submission requirements. There is no indication of a pre-application step such as a letter of intent; the main deadlines are March 1 and September 1. Notification of funding decisions is typically provided by June 30 for the March cycle and by December 31 for the September cycle. The trust is designed as a recurring opportunity with these two annual cycles. Applications are evaluated by the Gwathmey Memorial Trust Allocation Committee, which prioritizes organizations with well-defined goals, clear evidence of impact, and financial sustainability beyond the grant request. There are no restrictions on applicant type beyond nonprofit status, and the trust accepts proposals from organizations across Virginia without limitation to specific localities. For questions regarding the application process, applicants may contact the Virginia office of Bank of America Philanthropic Solutions by emailing va.grantmaking@bofa.com. Applicants should include the name of the foundation in the subject line. Detailed contact information and supporting resources can be accessed through the posted procedures. Interested applicants are strongly encouraged to prepare materials that clearly outline their project’s relevance to the stated focus areas, demonstrate strong organizational management, and reflect a commitment to advancing Virginia’s cultural, social, and educational well-being.