Frank Reed & Margaret Jane Peters Memorial Fund

The Frank Reed & Margaret Jane Peters Memorial Fund was established in 1934 and 1935 to support charitable initiatives across Massachusetts that advance education, health care, and human services. The fund’s mission emphasizes serving underserved populations, with special attention given to programs benefitting youth and children. As part of its legacy, the Peters Memorial Fund seeks to uplift communities through strategic philanthropic investments that align with its core mission of equity and access. Administered by Bank of America’s Philanthropic Solutions group, the fund supports both general operating and program-specific grant requests. While the fund maintains flexibility in funding type, applicants are encouraged to seek general operating support, which is considered a priority. Program support is also eligible, and modest capital expenditures related to approved programs may be included in requests. The fund does not support large capital campaigns or event sponsorships. Typical grants range from $10,000 to $40,000 and are awarded for a one-year term, though multi-year grants may be considered occasionally. Notably, the fund contributes separately to the Summer Fund initiative run by Philanthropy Massachusetts, which provides operating support for summer camps targeting low-income urban youth in Boston, Cambridge, Chelsea, and Somerville. Organizations that receive funding from the Summer Fund are ineligible to apply directly to the Peters Memorial Fund. The application deadline for the Peters Memorial Fund is March 1 each year, and applicants are notified of funding decisions by July 31. Applications must be submitted via the Bank of America online grantmaking portal. Email, postal, or hand-delivered applications are not accepted, and no letters of intent are required. Each organization may submit only one application per calendar year to any of Bank of America’s discretionary Massachusetts foundations, including the Peters Memorial Fund. If a grant is received or declined, the applicant must wait until the next calendar year to reapply to any of the other discretionary funds. Eligible applicants are 501(c)(3) public charities operating in Massachusetts. There are no programmatic restrictions beyond alignment with the core focus areas of education, health, and human services. To ensure compliance with eligibility and fit, applicants are strongly encouraged to review the foundation-specific details available at Bank of America’s grantmaking website. For questions, applicants may contact the grantmaking team at ma.grantmaking@bofa.com. Applications are due by 11:59 p.m. Eastern Time on the deadline day, with no technical support available over weekends. All grantees must submit a final report within one year of the award date, and multi-year grantees are required to submit annual reports for each year of the grant term.

Request general operating support when possible; ensure alignment with youth or underserved populations; confirm eligibility in advance.