Program 1 · 1% of program spending $9.6M
Bank of America trustee fees
The 990 read · EIN 04-6010342 · MA · Fiscal year 2024
Bank of America Charitable Gift Fund
Bank of America Charitable Gift Fd: CEO salary, finances and where donations go
In its own words
“A public charity that makes grants on behalf of individuals and families who create donor advised funds…”
Data only Figures straight from the filing, screened by our rules. Not yet reviewed in depth by a CPA.
Methodology by Amir Arani, CPA, CA · Updated
- Top pay
- $24.1M Bank of America, 2.4% of spending
- Revenue
- $1.66B 89.5% from donations and grants
- Spent
- $993.6M 98.5% on programs, as reported
- Net assets
- $5.04B end of 2024
- Savings
- 60.8 months of spending, net assets ÷ spending
01 · Red flags
No red flags in its latest filing.
We screen every filing against twelve rules. A flag is a prompt for a closer look, not a finding of wrongdoing.
No reported asset diversions, no insider transactions, no fundraisers keeping most of the money, and the governance policies we check for are in place.
02 · Where $1 goes · 2024
Of each dollar it spent, 98.5¢ went to programs, as reported.
The split the charity filed.
Cost to raise $1
0¢
as reported
For each dollar donated, Bank of America Charitable Gift Fund spent 0¢ on fundraising.
Fundraising ÷ $1.49B contributions · Form 990 Parts VIII, IX03 · What it does
What it told the IRS it spent on.
The charity's own description of its largest programs, with what each cost.
04 · The savings
Net assets: $420.6M to $5.04B in 11 years.
Net assets at each fiscal year end, 2012 to 2024.
421
532
707
887
1092
1530
1697
2323
3846
3442
4078
5038
05 · Who gets paid
The highest-paid person.
Reportable pay in 2024, from the charity and related organizations.
Bank of America
Trustee
$24,062,159
06 · Questions
The questions people ask about the Bank of America Charitable Gift Fund.
Short, sourced answers. Each one stands on its own.
How much does the Bank of America Charitable Gift Fund CEO make?
Bank of America, Trustee, received $24,062,159 in reportable compensation in 2024, 2.4% of Bank of America Charitable Gift Fund's $993.6M in spending.
Form 990 (2024), Part VIIWhat percentage of Bank of America Charitable Gift Fund donations go to programs?
Bank of America Charitable Gift Fund reported 98.5% of 2024 spending as programs, 0% as fundraising and 1.5% as management.
Form 990 (2024), Part IXHow much money does Bank of America Charitable Gift Fund have?
Net assets were $5.04B at the end of 2024, about 60.8 months of spending.
Form 990 (2024), Part XDoes Bank of America Charitable Gift Fund have any red flags in its filing?
Its latest Form 990 triggered none of our twelve screening rules, which cover reported asset diversions, insider transactions, fundraiser costs, governance policies and spending patterns.
Form 990 (2024)07 · Sources and citing
Every number, traced.
- Bank of America Charitable Gift Fund Form 990, 2024 (IRS e-file)
- Bank of America Charitable Gift Fund Form 990 history (ProPublica Nonprofit Explorer)
Cite this page
Amir Arani, “Bank of America Charitable Gift Fund: CEO salary, finances and where your dollar goes,” Charity Math, updated 2026-11-07. https://charitymath.com/charities/bank-of-america-charitable-gift-fund/