Frank Reed & Margaret Jane Peters Memorial Funds
/OVERVIEW: The two Frank Reed & Margaret Jane Peters Memorial Funds support education, health, and human service organizations in Massachusetts.
FUNDING AREAS: Education, health, human service
IP TAKE: Boys and Girls clubs are common grantees for these funds, but this funder also supports other groups serving youth.
PROFILE: Established in 1934 and 1935, the Frank Reed & Margaret Jane Peters Memorial Funds are private foundations based in Massachusetts. While the Frank Reed & Margaret Jane Peters Memorial Funds I and II are separate funds, they share the same application process and management structure. Managed by Bank of America’s Massachusetts office, the foundation funds education, health, and human services efforts in Massachusetts.
The Frank Reed & Margaret Jane Peters Memorial Funds supports programs that aid underserved populations, and it prioritizes groups serving children and youth. This is true for both the Frank Reed & Margaret Jane Peters Memorial Funds I and II. The Fund I also generously supports the Associated Grant Makers Summer Fund, which is a donor collaborative that funds summer camps for low-income urban youth in the region. Meanwhile, the Fund II more broadly supports children and youth causes. The funds consider small, program-related expenses, but largely prefer to provide general operating and program support.
Grants range between about $10,000 and $40,000. Grants have been as low as $2,000 and as high as $2 million in recent years. Learn more about this funder’s local giving by examining its Foundation Center grant history. Grantmaking focuses on the state of Massachusetts. Specific communities in focus are Boston, Cambridge, Chelsea, and Somerville. Most grants from these funds are for one-year periods, but the funds consider multi-year support on occasion. Past local grantees include the Boys and Girls Clubs of Metrowest, Friends of the Children-Boston, Children’s Law Center of Massachusetts, and Lawrence Boys Club & Girls Club.
This foundation accepts unsolicited grant applications from nonprofits, and the application process is combined for both of these funds. The annual application deadline is March 1, and applicants can expect to hear back with a funding decision by July 31. Grantseekers must use the Bank of America online system to apply for a grant. Direct general questions to the staff at ma.grantmaking@ustrust.com or 866-778-6859.
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