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
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
No grants recorded for .
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.
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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