Tr R & Ct Gwathmey Mem Uw Egj
The Richard & Caroline T. Gwathmey Memorial Trust is a private independent foundation established in 1981 in Virginia and currently based in Dallas, Texas. The trust operates as a 501(c)(3) tax-exempt organization managed by Bank of America.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$13.5M
+1.9% YoY
Annual Giving
$756K
+8.0% YoY
Grant Count
38
+22.6% YoY
Avg Grant Size
$20K
-11.9% YoY
Mission & Focus Areas
The trust gives primarily to the arts, cultural institutions, and education. The foundation was established by Mrs. Elizabeth Gwathmey Jeffress in memory of her parents, Richard and Caroline T. Gwathmey. Mrs. Jeffress was particularly interested in the history, literature, art and architecture of Virginia.
Grantmaking
The foundation primarily funds unrestricted general grants.
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking focuses primarily on Virginia, Ohio, and Maryland.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (as of June 2025):
- Total assets: $13,482,936
- Total revenues: $1,251,183
- Total expenses: $1,004,904
- Investment income and dividends: $349,444
Assets & Revenue (as of June 2024):
- Total assets: $13.2 million
- Total revenues: $479,000
- Total expenses: $920,000
- Investment income and dividends: $389,163
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $13,482,936 | $13,225,645 | $13,572,618 |
| Revenue | $1,251,183 | $478,770 | $367,389 |
| Expenses | $1,004,904 | $920,250 | $945,112 |
| Qualifying Distributions | $870,417 | $806,618 | $823,968 |
| Net Investment Income | $1,128,346 | $317,421 | $471,636 |
| Distributable Amount | $850,769 | $798,986 | $758,956 |
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
158 grants across all recorded years
Open Grants
1 open opportunity from Tr R & Ct Gwathmey Mem Uw Egj
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Bank of America serves as the managing director of the trust, with compensation of $125,531 as of September 2024. The foundation has one employee.
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BANK OF AMERICA | TRUSTEE | 1 | $141,850 |
| DR RICHARD B BRANDT | CONSULTANT | 20 | — |
| VA ACADEMY OF SCIENCE-COMM MEMBER | ALLOC COMMITTEE | — | — |
| MEDICAL SOCIETY OF VA-COMM MEMBER | ALLOC COMMITTEE | — | — |
| BANK OF AMERICA TR DAVID YARTER | ALLOC COMMITTEE | — | — |
| SARAH KAY | SECRETARY | — | — |
| BAR ASSN RICHMOND-COMM MEMBER | ALLOC COMMITTEE | — | — |
| VA CHAMBER OF COMMERCE-COMM MEMBER | ALLOC COMMITTEE | — | — |
| LINDA C BARRETT | CONSULTANT ASSISTANT | — | — |
| KEITH M MARTIN | COMMITTEE MEMBER | — | — |
| ROSEMARY BARRA | COMMITTEE MEMBER | — | — |
| VERNON E INGE | COMMITTEE MEMBER | — | — |
| STERLING N RANSONE JR | COMMITTEE MEMBER | — | — |
| DANIEL LYNCH | COMMITTEE MEMBER | — | $2,500 |
| ERIK RISON | COMMITTEE MEMBER | — | $2,500 |
| RICHARD SZULS | COMMITTEE MEMBER | — | $2,500 |
| DARCY MAYS III | COMMITTEE MEMBER | — | $2,500 |
Contact Information
- Mailing Address: PO Box 653067, Dallas, TX 75265-3067
- Phone: 888-866-3275
- Email: va.grantmaking@bofa.com
- Website: www.bankofamerica.com/philanthropic/foundation/
- EIN: 54-6191586
- Tax-exempt status: Designated as 501(c)(3) since May 1982
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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