Arkwright Foundation

SPARTANBURG, SC EIN: 57-6000066

The Arkwright Foundation is a private foundation incorporated in 1945 and based in Spartanburg, South Carolina. The foundation operates as a 501(c)(3) organization with a focus on grantmaking to nonprofit organizations across multiple sectors.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$16.8M

+4.7% YoY

Annual Giving

$970K

-5.3% YoY

Grant Count

101

+4.1% YoY

Avg Grant Size

$10K

-9.1% YoY

Under IRS private-foundation payout rules, Arkwright Foundation reported a distributable amount of $941K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation's giving priorities include:

Education (including higher education and STEM education)
Health and social services
Arts and culture, with emphasis on arts education
Civic affairs and community development
Children and youth services
Christian churches and organizations
Wildlife conservation
Philanthropy, voluntarism, and grantmaking

Grantmaking

The foundation made 104 grants in 2024, including:

Average Grant

$7,000–$9,000

How to Apply

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Geographic Focus

Where this funder awards grants

The foundation primarily supports nonprofit organizations in South Carolina, with particular emphasis on Spartanburg County. Grantmaking also extends to Virginia and North Carolina, with some activity in Maine and other states.

Grant Distribution by State

South Carolina $1.4M (81%)

Maine $248K (15%)

North Carolina $48K (3%)

Virginia $12K (1%)

New Hampshire $3K (0%)

Massachusetts $2K (0%)

New Jersey $2K (0%)

District of Columbia $1K (0%)

+3 more states

States

Colorado District of Columbia Georgia Massachusetts Maine Montana North Carolina New Hampshire New Jersey South Carolina Virginia

Cities

AlexandriaArlingtonAthensBoiling SpringsBostonBozemanBreckenridgeCalaisCharlestonCharlotteChathamChestnut HillClintonColumbiaGaffneyGeorgetownGreenvilleHendersonvilleInmanLexington

Financial History

Multi-year comparison from IRS filings

As of 2024:

Total Assets: $16,824,516
Total Annual Giving: $970,068
Total Revenues: $1,038,277
Total Expenses: $1,220,578
Annual Income: $2.9 million
Investment Income and Dividends: $462,328
Net Gain from Sale of Non-Inventory Assets: $566,491

Historical Growth:

Total assets have grown from $8.3 million in 2011 to $16.8 million in 2024
Annual giving has grown from $670,000 in 2020 to approximately $1 million in 2023
Highest grantmaking activity occurred in 2022 with $2 million distributed across 194 grants

Grant History: The foundation has made 574 grants totaling $5 million and has supported 138 unique organizations across its history.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$16,824,516	$16,076,670	$17,610,172
Revenue	$1,038,277	$642,183	$1,412,593
Expenses	$1,220,578	$1,149,784	$1,137,829
Qualifying Distributions	$973,940	$1,025,902	$998,560
Net Investment Income	$965,206	$518,301	$1,303,675
Distributable Amount	$940,591	$907,531	$1,040,113

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

250 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Healthy Smiles of Spartanburg ($86,250), Episcopal Church of the Advent ($74,900), Hummingbird Farm ($60,000).

Recipient	Purpose	Amount
A LIGHT UNTO MY PATH SPARTANBURG, SC	GENERAL OPERATING SUPPORT	$4,100
ADULT LEARNING CENTER NASHUA, NH	GENERAL OPERATING SUPPORT	$500
ALZHEIMER'S ASSOCIATION - SPARTANBURG SPARTANBURG, SC	GENERAL OPERATING SUPPORT	$1,000
AMERICAN RED CROSS SPARTANBURG, SC	GENERAL OPERATING SUPPORT	$2,500
ANGELS CHARGE MINISTRY SPARTANBURG, SC	GENERAL OPERATING SUPPORT	$2,000
ARTISTS COLLECTIVESPARTANBURG SPARTANBURG, SC	GENERAL OPERATING SUPPORT	$500
BALLET SPARTANBURG SPARTANBURG, SC	GENERAL OPERATING SUPPORT	$12,000
BETHLEHEM CENTER SPARTANBURG, SC	GENERAL OPERATING SUPPORT	$500
BIRTHMATTERS SPARTANBURG, SC	GENERAL OPERATING SUPPORT	$1,000
BOY SCOUTS OF AMERICA PALMETTO COUNCIL SPARTANBURG, SC	GENERAL OPERATING SUPPORT	$500

Leadership & Key People

Leadership team and compensation from IRS filings

The foundation is governed by 2 officers and trustees, including:

M.L. Cates Sr.
Walter S. Montgomery Jr.

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
ML CATES SR	CHAIRMAN	0.5	—
WALTER S MONTGOMERY JR	VICE CHAIRMAN	0.5	—

Frequently Asked Questions

What does Arkwright Foundation fund?

The foundation's giving priorities include: • Education (including higher education and STEM education) • Health and social services • Arts and culture, with emphasis on arts education • Civic affairs and community development • Children and youth services • Christian churches and organizations • Wildlife conservation • Philanthropy, voluntarism, and grantmaking

How do I apply for a grant from Arkwright Foundation?

**Grant Characteristics:** • Typical award range: $50–$284,500 • Median grant: $1,000–$2,000 • Average grant: $7,000–$9,000 • Largest recent grant: $285,000 **Application Process:** • Applicants may apply via letter, personal visit, or phone call • Restrictions: Must be a charitable organization **Recent Grant Activity:** The foundation made 104 grants in 2024, including: • Spartanburg County Foundation: $273,700 • Spartanburg Methodist College: $195,000 • Healthy Smiles of Spartanburg: $86,250…

Where does Arkwright Foundation make grants?

What size grants does Arkwright Foundation award?

In 2024, Arkwright Foundation awarded 101 grants totaling $970K — an average of about $10K per grant, based on its IRS Form 990 filings.

How much is Arkwright Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Arkwright Foundation reported a distributable amount of $941K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.