PHOTO: SUZANNE TUCKER/SHUTTERSTOCK
In Texas, many grantmaking foundations are managed by Bank of America Philanthropic Solutions. Some nonprofits make the mistake of assuming that these foundations are too small or too niche to be worth contacting, but in fact, many are steady and reliable sources of funding with deep pockets and very locally focused goals.
The Bank of America-managed foundation that we are looking at today is the Katherine C. Carmody Charitable Trust, which dates back to April 1957. Here are a few important things to know about this foundation.
Details About the Foundation are Limited
Like many Bank of America-managed foundations in Texas, only the most basic details about the Katherine C. Carmody Charitable Trust are publicly available. This could be because Ms. Carmody was a private woman who preferred to give quietly. After her husband died, she crafted her will at the Adolphus Hotel in Dallas, where she was a resident. Over the following years, her trust has distributed several million dollars.
A Focus on Education and Human Services
The Carmody Charitable Trust has broad interests that typically fall within the areas of education and human services. Past grantees include the Girl Scouts of Northeast Texas, Camp Summit and Education First. Carmody giving also tends to have religious leanings towards Christian causes. Programs for disadvantaged youth, people with disabilities, STEM education and reducing juvenile incarceration often see Carmody’s support as well. Most grants from this trust are between $25,000 and $50,000 each.
Grantmaking is all in Texas
Bank of America-managed foundations are typically handled by a local office in one state and often have a single state focus. This is true of the Carmody trust, which is all about funding causes in Texas. A Texas home base is a requirement for grantseekers approaching this foundation. Dallas is a key giving area geographically, but organizations in San Antonio have seen a fair amount of support in recent years too.
The Trust Accepts Unsolicited Applications
Nonprofits can find comfort in Bank of America’s convenient online application process for the Carmody Charitable Trust and many other Texas-managed foundations. Bank of America provides a link to the online application on its specific website for this foundation and is best reached by email with questions about the application process. Keep in mind that grantseekers must skip two years after receiving a Carmody grant before applying for a new grant. Application materials are due each year on August 1.