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The Richard & Caroline T. Gwathmey Memorial Trust (EIN 54-6191586) is a private trust managed through Bank of America Philanthropic Solutions. It awards grants primarily for arts, culture, humanities and education in Virginia with typical grants of $5,000–$60,000 and two annual deadlines (March 1 and September 1). Application procedures and an online Apply Now link are provided on the Bank of America foundation page.
Source: Website · Mar 2026
Ideal Applicant
A Virginia-based nonprofit working in arts, culture, humanities, education, or local human services with a project budget in the foundation's typical grant range.
Good Fit
- • Primary program or project based in Virginia or with clear Virginia impact.
- • Work in arts, culture, education, or community/human services (matches many recent grantees).
- • Asks sized in the observed $5,000–$60,000 range and for general operating or unrestricted support.
- • Ability to demonstrate local outcomes and community reach rather than only national scope.
- • Readiness to apply through the Bank of America philanthropic portal or follow the listed email/mailing instructions.
Geography
Giving is overwhelmingly Virginia-focused—about 95% of dollars went to Virginia in the latest year—though a few small grants went to two other states; this reflects a state-level footprint rather than national reach.
Recipient Variety
The foundation funded 31–38 distinct recipients each year across the observed years, with low dollar concentration (the top five took about 21% in the latest year), indicating a broad and diverse recipient set rather than a tiny closed circle.
New Applicants
Direct evidence of openness exists: recent years show all recipients recorded as new and the Bank of America page provides application instructions, an online Apply Now link, and two annual deadlines, making it plausible that unfamiliar applicants can join the portfolio.
Source: Zeffy Agent · Mar 2026
