Hillcrest Foundation

Quick Stats

Annual Giving: $7,223,000 (2024)
Success Rate: Not publicly disclosed
Decision Time: Not publicly disclosed
Grant Range: $10,000 - $300,000
Average Grant: $35,000
Geographic Focus: North Texas (90% of grants to Dallas County and surrounding areas)

Contact Details

Primary Contact:

Email: tx.philanthropic@ustrust.com (indicate "Hillcrest Foundation" in subject line)
Phone: (214) 209-1965
Managed by: Bank of America Philanthropic Solutions
Application Portal: Bank of America Philanthropic Solutions platform

Overview

The Hillcrest Foundation was established in 1958-1959 by Mrs. W.W. Caruth, Sr. (Earle Clark Caruth) to provide financial support to qualified charitable organizations in Texas for the advancement of education, the promotion of health, and the relief of poverty. Mrs. Caruth was related to a pioneer Dallas family who settled in North Texas in 1848, and over generations, the Caruth family purchased land, owned farms and ranches, and later developed properties as Dallas grew into a major metropolitan area.

With assets totaling approximately $142 million (2024), the foundation distributed $7.2 million through 62 grants in 2024. The foundation is managed by Bank of America and does not have full-time staff of its own. Approximately 90% of grant funds are paid to organizations in North Texas, with emphasis on charitable services in the Dallas area. The foundation has shown steady growth, with assets increasing from $133.8 million in 2023 to $142.3 million in 2024.

Funding Priorities

Grant Programs

The Hillcrest Foundation operates a single grant program with three annual deadlines:

February 28 deadline
July 31 deadline
November 30 deadline

Grant amounts range from $10,000 to $300,000 (for multi-year payments), with an average grant of $35,000. The majority of grants are for one year, though multi-year support is occasionally awarded.

Priority Areas

The foundation focuses on three core areas:

Education: Support for education at all levels
Health: Healthcare services and health promotion
Human Services: Relief of poverty and support for vulnerable populations

Funding types strongly encouraged:

Construction and improvements of permanent buildings
Capital campaigns
Program support and special projects
Buildings, facilities, and equipment purchases

Special emphasis on:

Organizations serving adults, older adults, and people with disabilities
Community and economic development initiatives
Charitable services in the Dallas area

What They Don't Fund

General operating support - explicitly excluded from consideration
Organizations outside Texas (strong preference for North Texas)

Governance and Leadership

The Hillcrest Foundation is managed by Bank of America's Philanthropic Solutions division. The foundation does not maintain its own full-time staff and operates through Bank of America's institutional trust services.

Application Process & Timeline

How to Apply

Applications are accepted through the Bank of America Philanthropic Solutions platform. The foundation accepts unsolicited applications from eligible organizations.

Initial approach: Letter of inquiry Contact: Email tx.philanthropic@ustrust.com with "Hillcrest Foundation" in the subject line

Application deadlines: Three times annually

February 28
July 31
November 30

Eligibility: Texas-based 501(c)(3) charitable organizations that advance education, promote health, or alleviate poverty, with emphasis on organizations serving Dallas County and surrounding areas.

Decision Timeline

Specific decision timelines and notification processes are not publicly disclosed. Applicants should contact the foundation directly for estimated timeframes.

Success Rates

The foundation made 62 awards in 2024 (compared to 98 awards in 2023), distributing $7.2 million in 2024. Specific application statistics and success rates are not publicly disclosed.

Reapplication Policy

The foundation has strict reapplication policies:

After receiving a one-year grant: Organizations must wait two years before submitting another application
After receiving a multi-year grant: Organizations are ineligible to reapply until two years after receiving the last grant installment
After a declined request: Organizations must wait one year before applying again

Application Success Factors

Based on the foundation's documented priorities and grant-making patterns, the following factors appear important for success:

Strong preference for capital and program support: Grant requests for capital and program support are explicitly encouraged, while general operating support is not considered. Applications should focus on specific projects, equipment, buildings, or programs rather than ongoing operational costs.

Geographic alignment is critical: With 90% of grants going to North Texas organizations, location matters significantly. Organizations should emphasize their Dallas area impact and community connections.

Recent successful grants indicate priorities: Past recipients include:

Paul Quinn College (residence hall construction)
Ability Connection Texas (equipment replacement)
Admiral Nimitz Foundation (capital campaign and renovations)
Advocates for Community Transformation (legal advocacy program)

These examples demonstrate the foundation's commitment to capital projects, equipment, and specific programs that align with their mission areas.

Multi-year potential exists: While most grants are one-year awards, the foundation does provide multi-year funding to some grantees, suggesting that particularly strong projects or relationships may receive extended support.

Focus on vulnerable populations: The foundation shows special emphasis on supporting adults, older adults, and people with disabilities, which should be highlighted if applicable to the applicant's work.

Key Takeaways for Grant Writers

Capital over operations: This foundation will not fund general operating support. Frame requests around specific capital projects, equipment, programs, or facility improvements.
North Texas focus is essential: 90% of funding goes to North Texas. Organizations outside this area face significant barriers. Dallas County organizations have the strongest advantage.
Plan around strict reapplication rules: With a mandatory two-year wait after receiving a grant, applicants should request sufficient funding for their needs, as they cannot return quickly for additional support.
Three opportunities annually: With deadlines in February, July, and November, applicants have multiple chances each year but should prepare well in advance of these dates.
Bank of America manages applications: As the foundation operates through Bank of America's Philanthropic Solutions platform, familiarity with their application system and requirements is important.
Average grant is $35,000: While the range extends to $300,000 for multi-year grants, most awards cluster around $35,000. Budget requests should be realistic given this pattern.
Mission alignment is non-negotiable: Projects must clearly advance education, promote health, or alleviate poverty within the foundation's stated mission.

References

Information accessed December 2025.