Lloyd G. Balfour Foundation

Quick Stats

Annual Giving: $6,485,685 (2023)
Total Assets: $141+ million
Grant Range: $2,500 - $750,000
Grants Awarded: Approximately 50 per year
Geographic Focus: New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island) and Attleboro, MA
Decision Time: Varies by deadline cycle

Contact Details

Mailing Address: P.O. Box 653067, Dallas, TX 75265-3067

Grant Administrator: Bank of America Philanthropic Solutions

Application Portal: www.bankofamerica.com/grantmaking

Email: ma.grantmaking@bofa.com (include foundation name in subject line)

Note: Applicants are encouraged to contact the Foundation's Bank contact before submitting an application.

Overview

The Lloyd G. Balfour Foundation was established in 1973 following the death of Lloyd G. Balfour, sole owner of the L.G. Balfour Company in Attleboro, Massachusetts—a well-known maker of college rings, jewelry, and other recognition products. The foundation was funded from the profits realized from the sale of the company and operates according to Mr. Balfour's will. With over $141 million in assets and distributing approximately $6.5 million annually through roughly 50 grants, the foundation focuses on three primary areas: educational programs promoting college readiness, access, and success for underserved populations throughout New England; general charitable purposes for organizations serving Attleboro, Massachusetts; and support for institutions named in Mr. Balfour's will. The foundation is currently managed by Bank of America Philanthropic Solutions and operates on a fixed deadline schedule three times per year.

Funding Priorities

Grant Programs

New England Education Program: $2,500 - $750,000

Supports programs that promote college readiness, access, and success for underserved populations throughout Connecticut, Maine, Massachusetts, New Hampshire, and Rhode Island
Particular interest in programs that support students through post-secondary credential attainment (2- or 4-year credentials)
Programs within institutions of higher education aimed at attracting, supporting, and retaining underserved and underrepresented populations
Application Method: Online portal with fixed deadlines (March 1, June 1, November 1)

Attleboro, MA Community Support: $2,500 - $750,000

General charitable support for organizations serving Attleboro, Massachusetts residents
Priority given to educational, medical services, and human services needs
Application Method: Online portal with fixed deadlines

Named Institutions Program

Special consideration for institutions mentioned in Mr. Balfour's will: Sigma Chi Endowment Foundation, The National Interfraternity Conference Foundation, Indiana University, Phi Delta Phi Foundation, Massachusetts Institute of Technology (MIT), University of Notre Dame, Culver Military Academy, and Sturdy Hospital (Attleboro, MA)
Application Method: Online portal with fixed deadlines

Scholarship Program

Educational scholarships for former Balfour Company employees and their children and grandchildren
Administered through the Attleboro Scholarship Foundation

Priority Areas

College Completion: Programs focused on post-secondary credential completion rather than just matriculation
General Operating Support: Strongly encouraged for educational organizations (particularly those with budgets under $10 million)
Multi-Year Requests: Strongly encouraged to better support nonprofit capacity
Underserved Populations: Programs serving underrepresented and underserved students in New England
Scholarship Programs: If part of a broader set of services and supports
Small Capital Expenses: May be included in general operating or program requests

What They Don't Fund

No general operating support for public schools, including public charter schools
No general operating support for private schools (in general)
No general operating support for colleges or universities (support considered case-by-case if focused on foundation's priority areas)
Not competitive: K-12 out-of-school programming such as traditional after-school or summer programs
Not competitive: General K-12 enrichment or academic tutoring programs
Not competitive: Programs whose major focus is college matriculation rather than completion
General operating support discouraged for entities with budgets over $10 million
Not sustained funding: The foundation does not generally see its role as providing funding over long periods of time in the education area
Capital grants: Considered on a case-by-case basis only

Governance and Leadership

The Lloyd G. Balfour Foundation is administered by Bank of America Philanthropic Solutions. The foundation operates according to the directives established in Lloyd G. Balfour's will from 1973.

About Lloyd G. Balfour: Lloyd G. Balfour was a member of Sigma Chi fraternity at Indiana University in 1907, where he obtained an LL.B degree. He served as the 29th Grand Consul of Sigma Chi during his 1937 to 1939 term. He founded the L.G. Balfour Company on June 13, 1913, which became a well-known maker of college rings, jewelry, and recognition products serving the fraternity and sorority community as well as educational institutions.

Application Process & Timeline

How to Apply

Application Portal: All applications must be submitted online through www.bankofamerica.com/grantmaking

Deadlines: Applications accepted three times per year:

March 1
June 1
November 1

Submission Time: Applications must be submitted by 11:59 p.m. on the deadline date. If the deadline falls on a weekend or federally recognized holiday, applications are due on the next business day by 11:59 p.m.

Pre-Application Contact: Applicants are strongly encouraged to contact the Foundation's Bank contact at ma.grantmaking@bofa.com (with the foundation name in the subject line) before submitting an application.

Application Requirements:

Online application through Bank of America's grantmaking portal
General operating support requests are strongly encouraged for educational organizations
Multi-year funding requests are strongly encouraged

Decision Timeline

The foundation reviews applications on a rolling basis tied to the three annual deadline cycles. Specific decision timelines vary by deadline, but applicants can expect notification through the Bank of America portal and via email.

Success Rates

With approximately 50 grants awarded annually from the foundation's $6.5 million in giving, the foundation is moderately selective. Specific acceptance rates are not publicly disclosed.

Reapplication Policy

If an organization submits a proposal to the Lloyd G. Balfour Foundation and is declined, the organization is not eligible to submit another proposal to any of the Bank of America-managed foundations until the start of the following calendar year.

This means:

Declined applicants must wait until January 1 of the following year before reapplying
Organizations cannot submit new applications while receiving an active grant from the foundation

Application Success Factors

Based on the foundation's documented priorities and guidance, successful applications demonstrate:

1. Strong Focus on College Completion The foundation explicitly states that programs focused on college completion are prioritized over those focused primarily on college matriculation. Programs should demonstrate how they support students through post-secondary credential attainment (2- or 4-year credentials).

2. General Operating Support Requests "Educational organizations are strongly encouraged to submit grant requests for general operating support" rather than restricted program funding. This indicates the foundation values organizational sustainability and trusts nonprofits to deploy resources where most needed.

3. Multi-Year Funding Proposals "Multi-year funding requests are strongly encouraged to better support nonprofit capacity." The foundation recognizes that sustained support is more effective than single-year grants.

4. Pre-Application Communication The foundation explicitly encourages applicants to contact them before applying at ma.grantmaking@bofa.com. This suggests they value relationship-building and want to ensure alignment before organizations invest time in a full application.

5. Evidence of Impact on Underserved Populations The foundation evaluates how organizations have used evaluation results to make changes that improved their performance or impact, particularly regarding underserved and underrepresented populations in New England.

6. Geographic Alignment For the education program, organizations must serve residents of Connecticut, Maine, Massachusetts, New Hampshire, and/or Rhode Island. For Attleboro support, organizations must serve that community specifically.

Recent Grant Examples:

Posse Boston: Received $300,000 three-year grant (their third such grant from the foundation since 2007)
Education grantees: Attleboro Scholarship Foundation, Onegoal, uAspire, Breakthrough Greater Boston, Attleboro Public Schools, Summer Search, The Care Center, Onward
Human services grantees: Attleboro YMCA, My Life My Choice, New Hope, The Greater Boston Food Bank
Rivier University: Received grant to enhance student success programs

Key Takeaways for Grant Writers

Request general operating support for multi-year periods - the foundation explicitly encourages this approach and wants to build nonprofit capacity rather than fund isolated projects
Focus on completion, not access - your program should demonstrate how it helps students complete post-secondary credentials, not just get into college
Contact them before applying - the foundation wants pre-application conversations; use ma.grantmaking@bofa.com to discuss fit before investing time in a full proposal
Serve New England or Attleboro - geographic restrictions are firm; organizations outside these areas should only apply if they have special connection to named institutions in Mr. Balfour's will
Demonstrate impact with underserved populations - be prepared to show evaluation results and how you've used them to improve programs serving underrepresented students
Avoid traditional after-school or summer programs - these are explicitly listed as "not competitive" for K-12 organizations
Plan for the calendar-year reapplication restriction - if declined, you cannot reapply to any Bank of America-managed foundation until the following January 1

References

Accessed: December 2025