Bassett Furniture Industries Foundation Inc
Bassett Furniture Industries Foundation Inc is a private foundation, based in Bassett, VA. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $626K in total assets. In 2025, it awarded 9 grants totaling $83K. Net investment income was $6K.
Bassett Furniture Industries Foundation Inc at a glance
In short: Bassett Furniture Industries Foundation Inc gave $83K across 9 grants in 2025 (avg $9K), mostly in Virginia. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $82,500
- -17.5% vs 2024
- Grants made (2025)
- 9
- +0.0% vs 2024
- Average grant
- $9,167
- -17.5% vs 2024
- Median grant
- $10,000
- Total assets
- $625,949
- -7.3% vs 2024
- Primary geography
- Virginia (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Bassett Furniture Industries Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 9 recipients in 2025
The largest 2025 recipient was United Way of Henry County & Martinsville ($25K). Together the top 9 received $83K.
Grant Size Distribution
49 grants across all recorded years
The most common grant size was under $50K: 47 grants of 49 (96%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 9 itemized grants.
Cities
How Bassett Furniture Industries Foundation Inc gives
- Giving fell 67% from 2022 to 2025. Method
- In 2025 it paid out 138% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $83K (2021) to $250K (2022). In 2025 it made 9 grants totaling $83K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| United Way of Henry County & Martinsville Martinsville, VA | Support | $25,000 |
| Henry County Furniture Museum Bassett, VA | Support | $15,000 |
| Piedmont Arts Association Martinsville, VA | Support | $10,000 |
| Rooster Walk Inc Martinsville, VA | Support | $10,000 |
| Virginia Foundation for Independent Colleges Richmond, VA | Support | $10,000 |
| Virginia Museum of Natural History Martinsville, VA | Support | $5,000 |
| Henry County Parks and Recreation Martinsville, VA | Support | $2,500 |
| Smith River Singers Martinsville, VA | Support | $2,500 |
| Bassett High School Band Bassett, VA | Support | $2,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $625,949 | $41,407 | $90,486 | $82,500 | 9 | $82,500 | $5,900 | $59,780 |
| 2024 | $675,134 | $20,460 | $110,970 | $100,000 | 9 | $100,000 | $6,726 | $56,531 |
| 2023 | $767,155 | $35,124 | $130,744 | $122,500 | 9 | $122,500 | $10,545 | $51,256 |
| 2022 | $864,659 | $150,342 | $261,182 | $250,000 | 13 | $250,000 | $7,304 | $77,606 |
| 2021 | $978,266 | $208,408 | $94,896 | $82,500 | 9 | — | $4,287 | $77,928 |
Under IRS private-foundation payout rules, Bassett Furniture Industries Foundation Inc reported a distributable amount of $60K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Bassett Furniture Industries Foundation Inc is led by Robert H Spilman Jr., President on every filing since 2021; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Robert H Spilman Jr.
President
On filings since 2021
0.1 hrs/week
No compensation reported
Edward White
Officer
On filings since 2021
0.1 hrs/week
No compensation reported
J Michael Daniel
Officer
On filings since 2021
0.1 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Bassett Furniture Industries Foundation Inc
How much does Bassett Furniture Industries Foundation Inc give each year?
Bassett Furniture Industries Foundation Inc gave $83K across 9 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $100K across 9 grants.
What is Bassett Furniture Industries Foundation Inc's typical grant size?
Bassett Furniture Industries Foundation Inc's median grant in 2025 was $10,000, and its average grant was $9,167, across 9 grants on its 2025 IRS Form 990-PF.
Where does Bassett Furniture Industries Foundation Inc give grants?
Bassett Furniture Industries Foundation Inc gives mostly in Virginia: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Martinsville, VA (6 grants) and Bassett, VA (2 grants).
Does Bassett Furniture Industries Foundation Inc give general operating support?
Not in 2025: none of the 9 grants with a stated purpose on Bassett Furniture Industries Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Support" (9 grants).
Who are Bassett Furniture Industries Foundation Inc's largest grantees?
Bassett Furniture Industries Foundation Inc's largest 2025 grantees include United Way of Henry County & Martinsville ($25,000), Henry County Furniture Museum ($15,000) and Piedmont Arts Association ($10,000), according to its 2025 IRS Form 990-PF. Together they received 61% of its itemized 2025 grant dollars.
How large is Bassett Furniture Industries Foundation Inc?
Bassett Furniture Industries Foundation Inc reported $626K in total assets on its 2025 IRS Form 990-PF. It paid out $83K in qualifying distributions that year, against a required minimum of $60K (roughly 5% of its investment assets).
What is Bassett Furniture Industries Foundation Inc's EIN?
Bassett Furniture Industries Foundation Inc's EIN (Employer Identification Number) is 54-1652381. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2024 (received by the IRS August 27, 2026)
- Added Form 990-PF for fiscal year 2025 (received by the IRS August 27, 2026)
- IRS filings on file for fiscal years 2021–2024
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