OVERVIEW: Perpetual Trust supports education, health, and human services nonprofits in the state of Massachusetts. The Bank of America/U.S. Trust located in Massachusetts manages grantmaking.
FUNDING AREAS: Education, health, human services
IP TAKE: Bank of America funds lesser known organizations that focus their work locally. Grantseekers must familiarize themselves with the bank’s application process and learn about other relevant foundations it manages too.
PROFILE: Established in 1957, the Perpetual Trust for Charitable Giving is managed by the Massachusetts office of Bank of America. Bank of America serves as the trustee and agent for many private foundations; the donors of these foundations give broad discretion to U.S. Trust in the Massachusetts office, which is based in Boston. This particular foundation supports education, health, and human services nonprofits in the state of Massachusetts.
The foundation does not maintain specific grantmaking programs. Instead, it broadly supports a variety of interests. Within all three of the above grantmaking areas, the Perpetual Trust for Charitable Giving focuses on underserved populations throughout Massachusetts. While Perpetual Trust prioritizes medical aid and medical research organizations, it also funds institutions of higher learning also receive a steady amount of this funder’s support.
Grants have ranged from $100,000 and $500,000. More recently, an increasing number of grants range between $35,000 and $50,000. This is the type of foundation that tends to award grants to the same local organizations year after year. Past Boston grantees include the Boston Building Materials Cooperative Charitable and Educational Fund, the Boys and Girls Club of Boston, and MetroLacrosse. Beyond Boston, grantees include Crispus Attucks Children’s Center in Dorchester, the Community Action of the Franklin, Hampshire, and North Quabbin Regions in Greenfield. Almost all grantmaking is restricted to Massachusetts; both well-established and grassroots groups receive support. Applicants can learn more about this funder’s giving in its tax records.
The foundation accepts applications for grants each year in advance of a September 1 deadline. Applicants are notified about grant decisions by November 30. Grantseekers are advised to apply for general operating support, but program support and program-related capital expenses are also occasionally funded. This is also a good funder to send multi-year grant requests to because the Perpetual Trust prefers to work long-term with continuous grantees. Grantseekers will need to use the Bank of America’s online application to apply for a grant. Only one application is accepted from each organization per year. Grantseekers should direct questions to the bank staff at ma.grantmaking@ustrust.com or 866-778-6859.
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