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← BANK OF AMERICA CHARITABLE GIFT FUND

Form 990 for tax year 2024

Filed by BANK OF AMERICA CHARITABLE GIFT FUND.

Totals

Total revenue
$1,664,401,095
Total expenses
$993,629,953
Contributions and grants received
$1,489,652,673
Grants paid
$969,496,994
Program service revenue
$0
Investment income
$174,748,422
Other revenue
$0
Total assets, end of year
$5,096,006,595
Total liabilities, end of year
$57,908,937
Net assets or fund balances, end of year
$5,038,097,658
Program services expenses (Part IX)
$979,192,658
Management and general expenses
$14,437,295
Fundraising expenses
$0
Program service expenses (Part III)
$979,121,858

Program services were 98.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,489,652,673

  • 1g · Noncash contributions included above

    $1,027,735,600

  • 3 · Investment income

    total $120,497,461 · excluded $120,497,461

  • 7a · Gross sales of assets other than inventory

    securities $1,592,256,926

  • 7b · Less cost or other basis and sales expenses

    securities $1,538,005,965

  • 7c · Gain or loss

    securities $54,250,961

  • 7d · Net gain or loss

    total $54,250,961 · related or exempt $54,250,961

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $969,496,994 · program services $969,496,994

  • 11f · Fees: investment management

    total $24,062,159 · program services $9,624,864 · management and general $14,437,295

  • 24e · All other expenses

    total $70,800 · program services $70,800

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $784,896,447 · end of year $924,720,607

  • 4 · Accounts receivable

    beginning of year $26,235,592 · end of year $70,326,713

  • 11 · Investments: publicly traded securities

    beginning of year $3,351,485,501 · end of year $4,100,959,275

  • 17 · Accounts payable and accrued expenses

    beginning of year $65,440,426 · end of year $32,550,516

  • 25 · Other liabilities

    beginning of year $19,005,632 · end of year $25,358,421

  • 27 · Net assets without donor restrictions

    beginning of year $4,025,250,051 · end of year $4,980,334,107

  • 28 · Net assets with donor restrictions

    beginning of year $52,921,431 · end of year $57,763,551

Mission and programs · 2024

Mission

A PUBLIC CHARITY THAT MAKES GRANTS ON BEHALF OF INDIVIDUALS AND FAMILIES WHO CREATE DONOR ADVISED FUNDS

  • GRANTS TO CHARITABLE ORGANIZATIONS (SEE ATTACHED STATEMENTS)

    Expenses $969,496,994 · Grants $969,496,994

  • BANK OF AMERICA TRUSTEE FEES

    Expenses $9,624,864

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bank Of America

    TRUSTEE

    Total calculated
    $24,062,159
    From this org
    $24,062,159
    From related orgs
    $0
    Other
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • SEE ATTACHED LIST OF DISTRIBUTIONS C/O BANK OF AMERICA

    $969,496,994

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202503219349318170

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