Hillcrest Foundation
The Hillcrest Foundation is a private foundation established in 1959 by Mrs. W.W. Caruth, Sr. (Earle Clark Caruth) and based in Dallas, Texas. The foundation was created to provide financial support to qualified charitable organizations, primarily in Texas, for the advancement of education, the promotion of health, and the relief of poverty. The Caruth family, who settled in North Texas in 1848, developed significant land holdings and properties as Dallas grew into a major metropolitan area, forming the foundation's endowment base.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$145.2M
+2.1% YoY
Annual Giving
$8.0M
+10.6% YoY
Grant Count
84
+35.5% YoY
Avg Grant Size
$95K
-18.4% YoY
Under IRS private-foundation payout rules, Hillcrest Foundation reported a distributable amount of $8.8M for 2025 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's core mission centers on three primary objectives:
- Advancement of education
- Promotion of health
- Relief of poverty
Specific funding priorities include:
Education: Elementary and secondary education, secondary education, vocational education, higher education, graduate and professional education, business education, and adult education
Health: In-patient and out-patient medical care, hospital care, dental care, rehabilitation, mental health care, addiction services, and disease-specific initiatives including cancer treatment
Human Services: Basic and emergency aid, food assistance, family services, child welfare, and special population support
Community and Economic Development: Housing development and related initiatives
Populations Served: The foundation emphasizes support for adults, older adults, and people with disabilities.
Grantmaking
In fiscal year 2024 (ending May), the foundation made 62 grants totaling approximately $7.2 million. Recent notable grants include:
Grant Range
$10,000 to $500,000
Average Grant
$35,000
Review Cycle
- November 30
How to Apply
**
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Geographic Focus
Where this funder awards grants
Approximately 90% of grant funds are distributed to organizations in North Texas, with particular emphasis on charitable services in the Dallas area and Dallas County. The foundation has also made grants to organizations in Alabama. Primary geographic focus includes Dallas and surrounding North Texas communities.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending May 2024:
- Total Assets: $142.3 million
- Total Revenue: $18.6 million
- Total Expenses: $8.9 million
- Total Liabilities: $0
- Investments: $134.3 million
- Annual Giving: $7.2 million (62 grants)
Financial Growth: Assets increased from $133.8 million in 2023 to $142.3 million in 2024. Over the past five years, the foundation has experienced exceptional growth with average annual revenue increases of 29.0%.
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $145,239,395 | $142,314,920 | $131,936,527 |
| Revenue | $12,439,273 | $18,643,833 | $8,964,060 |
| Expenses | $9,829,886 | $8,906,307 | $9,830,452 |
| Qualifying Distributions | $8,827,816 | $7,954,889 | $8,994,247 |
| Net Investment Income | $11,652,841 | $17,868,641 | $8,219,270 |
| Distributable Amount | $8,806,957 | $8,076,317 | $7,901,364 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
Grant Size Distribution
250 grants across all recorded years
Open Grants
1 open opportunity from Hillcrest Foundation
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest include Children's Medical Center Foundation ($500,000), Dallas Methodist Hospitals Foundation Inc ($500,000), Dallas Baptist University ($400,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ASSOCIATION FOR INDEPENDENT LIVING DALLAS, TX | CAPITAL IMPROVEMENT NEEDS FOR OUR CAMPUS | $50,000 |
| AUSTIN STREET CENTER DALLAS, TX | SISTERHOOD BUILDING REFRESH | $25,000 |
| AUTISTIC TREATMENT CENTER INC DALLAS, TX | RENOVATIONS FOR A GROUP HOME FOR DEVELOPMENTALLY DISABLED INDIVIDUALS IN DALLAS, TX. | $50,000 |
| ABILITY CONNECTION TEXAS IRVING, TX | PURCHASE OF A WHEELCHAIR-ACCESSIBLE VEHICLE FOR MEMBER TRANSPORTATION | $90,000 |
| BEHIND EVERY DOOR MINISTRIES INC DALLAS, TX | CEDAR CREST COMMUNITY CENTER CHAPEL AUDIO/VISUAL BUILD OUT | $50,000 |
| BOYS & GIRLS CLUBS OF GREATER DALLAS INC DALLAS, TX | TRANSPORTATION EXPANSION FOR BGCD YOUTH: ACQUISITION OF TWO 15-PASSENGER VANS | $50,000 |
| CAFE MOMENTUM DALLAS, TX | DREAM BEYOND: CAFE MOMENTUM FLAGSHIP | $125,000 |
| CHILD PROTECTIVE SERVICES COMMUNITY PARTNERS INC DALLAS, TX | RAINBOW ROOM PROGRAM | $35,000 |
| CHILDREN'S MEDICAL CENTER FOUNDATION DALLAS, TX | NEW DALLAS PEDIATRIC HOSPITAL CAMPUS | $500,000 |
| CITY HOUSE INC PLANO, TX | CAPITAL IMPROVEMENTS FOR HOMELESS CHILDREN'S EMERGENCY SHELTER | $50,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Trustees:
- Bank of America N.A. (corporate trustee)
- Nina Behan (Bank of America N.A., Trustee as of October 2024)
- W.W. Caruth III
- D. Harold Byrd III
The foundation is governed by Bank of America and co-trustees who oversee its operations.
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BANK OF AMERICA | CORP-TRUSTEE | 1 | $605,334 |
| WW CARUTH III | CO-TRUSTEE | 1 | — |
| D HAROLD BYRD III | CO-TRUSTEE | 1 | — |
| SANDRA ESTESS | CO-TRUSTEE | 1 | — |
| TIMOTHY R VAUGHAN | CO-TRUSTEE | 1 | — |
| ALAN J PERKINS | CO-TRUSTEE | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation continues active grantmaking with consistent annual distributions. In 2024, it distributed $7.2 million across 62 grants, demonstrating sustained commitment to its funding priorities in education, health, and human services across Texas.
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Hillcrest Foundation fund?
The foundation's core mission centers on three primary objectives: • Advancement of education • Promotion of health • Relief of poverty **Specific funding priorities include:** **Education:** Elementary and secondary education, secondary education, vocational education, higher education, graduate and professional education, business education, and adult education **Health:** In-patient and out-patient medical care, hospital care, dental care, rehabilitation, mental health care, addiction servic…
How do I apply for a grant from Hillcrest Foundation?
**Grant Amounts:** • Grant range: $10,000 to $500,000 • Average grant: $35,000 • Median grant: $40,000 **Recent Activity:** In fiscal year 2024 (ending May), the foundation made 62 grants totaling approximately $7.2 million. Recent notable grants include: • $500,000 to Methodist Health System Foundation for Women's and Children's Services at Methodist Dallas Medical Center • $500,000 to Children's Medical Center Foundation for New Dallas Pediatric Hospital Campus • $500,000 to Parkland Health F…
Where does Hillcrest Foundation make grants?
Approximately 90% of grant funds are distributed to organizations in North Texas, with particular emphasis on charitable services in the Dallas area and Dallas County. The foundation has also made grants to organizations in Alabama. Primary geographic focus includes Dallas and surrounding North Texas communities.
What size grants does Hillcrest Foundation award?
In 2025, Hillcrest Foundation awarded 84 grants totaling $8.0M — an average of about $95K per grant, based on its IRS Form 990 filings.
How much is Hillcrest Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Hillcrest Foundation reported a distributable amount of $8.8M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Hillcrest Foundation's EIN?
Hillcrest Foundation's EIN (Employer Identification Number) is 75-6007565. IRS Form 990 filing data is available on this page for 2020–2025.
Explore Open Grants
Browse active grant opportunities in Hillcrest Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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