More than 10% of the population of Boston is over age 65, and that percentage is only expected to increase in the years ahead. Meanwhile, around 42% of Boston’s seniors live with a disability and at least 21% live below the poverty line.
Fortunately, there are some philanthropic groups in the city that are paying specific attention to what Boston’s elderly need the most right now. One such organization is the Charles H. Farnsworth Trust, which we’re taking a closer look at in this article.
1. It’s all about the elderly
Charles Farnsworth cared deeply about the needs of older adults in his home community. He created the trust in 1930 so that seniors could live with independence and dignity in Boston. The trust is largely a human services funder with a great deal of interest in affordable housing for seniors, especially housing that provides support services in addition to a place to live.
Other interests of the Charles H. Farnsworth Trust include nutritional support, homemaker assistance and healthcare for the elderly. Organizations that study elder care and find ways to improve the quality of housing and support services for seniors also receive this funder’s attention. Meanwhile, some grants go towards senior-oriented arts and culture enrichment in the Boston area.
2. Bank of America manages the foundation
Rather than retain its own dedicated staff, the Farnsworth Trust uses Bank of America Philanthropic Solutions to handle proposal review and administer outgoing funds. This makes the grantmaking process very streamlined, professional and accessible for elderly-serving groups in Boston. Organizations seeking grants must use Bank of America’s online system to apply for grants and contact the Massachusetts Bank of America office with questions.
3. There are grant opportunities each year
The Farnsworth Trust opens up for new grant applications each year with a November 15 deadline. Its grants encompass support for specific programs and projects, planning grants for supportive housing strategies and general operating support. Grants are usually in the $25,000 to $250,000 range for capital support and between $10,000 and $25,000 for programs, projects and general support. Grantseekers who submit an application before November 15 can expect to hear back by the end of March.
There are numerous Bank of America-affiliated funders that serve the Boston area, which you can read about in our Boston and New England funding guide.