Bank of America Charitable Gift Fund
100 Federal Street ma5-100-10-21, Boston, MA · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $1,664,401,095 | $993,629,953 | $5,038,097,658 |
| FY2023 | $1,188,501,548 | $845,469,034 | $4,078,171,482 |
| FY2022 | $907,613,090 | $763,125,913 | $3,441,477,199 |
| FY2021 | $1,677,054,646 | $728,053,163 | $3,845,753,040 |
| FY2020 | $837,703,273 | $447,124,027 | $2,322,966,557 |
| FY2018 | $632,034,707 | $303,275,719 | $1,697,105,628 |
| FY2017 | $608,184,954 | $244,257,877 | $1,530,250,946 |
| FY2016 | $382,100,006 | $232,299,659 | $1,092,082,643 |
| FY2015 | $360,149,157 | $171,542,808 | $887,344,584 |
| FY2014 | $286,503,662 | $113,850,679 | $707,175,325 |
| FY2013 | $206,203,522 | $102,733,405 | $531,987,547 |
| FY2012 | $207,383,040 | $123,113,991 | $420,597,321 |
| FY2011 | $115,812,292 | $76,955,412 | $333,698,295 |
| FY2010 | $153,812,209 | $47,722,230 | $305,442,954 |
Form 990 filings
The returns filed by Bank of America Charitable Gift Fund (EIN 04-6010342), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $1,489,652,673 | 90% |
| Program service revenue | $0 | 0% |
| Other revenue | $174,748,422 | 10% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $979,192,658 | 99% |
| Management & general | $14,437,295 | 1% |
| Fundraising | $0 | 0% |
What the numbers show
- Contributions & grants made up 90% of total revenue in FY2024.
- Program services accounted for 99% of functional expenses, management & general 1%, and fundraising 0%.
- 99% of functional expenses went to program services in FY2024. That is higher than 92.3% of 26 Philanthropy, Voluntarism & Grantmaking Foundations organizations in MA.
- Net assets covered about 60.8 months of expenses at the end of the reporting year. That puts it in the 35th percentile among 1953 Philanthropy, Voluntarism & Grantmaking Foundations organizations in MA.
- Total revenue was the highest among 1999 Philanthropy, Voluntarism & Grantmaking Foundations organizations in MA.
- Total revenue rose from $153,812,209 in FY2010 to $1,664,401,095 in FY2024. Revenue increased in 10 and decreased in 3 of 13 year-over-year comparisons.
- Revenue covered expenses in each of the 14 reported years, FY2010 to FY2024.
- The highest revenue on record here is $1,677,054,646 in FY2021.
- Net assets grew from $305,442,954 to $5,038,097,658 between FY2010 and FY2024.
- Contributions and grants made up 84% of revenue in FY2010 and 90% in FY2024.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
A PUBLIC CHARITY THAT MAKES GRANTS ON BEHALF OF INDIVIDUALS AND FAMILIES WHO CREATE DONOR ADVISED FUNDS
IRS status
| Ruling year | 1957 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | T700 — Philanthropy, Voluntarism & Grantmaking Foundations (in MA) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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