Arkwright Foundation
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
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
States
Cities
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.
| 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
No grants recorded for .
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 | — |
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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