Benwood Foundation Inc
Benwood Foundation Inc. is a private foundation based in Chattanooga, Tennessee, focused on supporting shared prosperity and inclusion in the Chattanooga community. It works with nonprofits, other foundations, local government, community leaders, and businesses through strategic grantmaking, collaborative problem-solving, and adaptive leadership.
Benwood Foundation Inc at a glance
In short: Benwood Foundation Inc gave $7.9M across 117 grants in 2024 (avg $67K), mostly in Tennessee. 23% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $7,885,320
- +58.2% vs 2023
- Grants made (2024)
- 117
- +17.0% vs 2023
- Average grant
- $67,396
- +35.2% vs 2023
- Median grant
- $20,000
- Total assets
- $103,903,953
- -0.9% vs 2023
- New grantees (estimate)
- 23% first-time grantees (18 of 77, 2024)
- Primary geography
- Tennessee (97% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Benwood Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation does not accept unsolicited requests. Potential partners may be invited to submit a proposal. The filing calls for a brief two-page letter with the materials described above; it lists no restrictions on awards.
- Review Cycle
- None listed.
- Deadline
- None listed.
- Contact
Application contact: Ms Sarah Morgan
Mailing address: 736 Market St Suite 1600, Chattanooga, TN 37402
Phone: (423) 267-4311
Website: https://benwood.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Benwood Foundation Inc
Who Benwood Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Chattanooga Neighborhood Enterprise ($1.1M across 2 grants). Together the top 10 received $4.6M.
Organizations only. It also paid 2 grants to individuals ($300,000), which are not listed by name.
Grant Size Distribution
447 grants across all recorded years
The most common grant size was under $50K: 298 grants of 447 (67%).
Geographic Focus
Where this funder awards grants
The foundation’s stated focus is Chattanooga. In 2024, 97% of grant dollars went to recipients in Tennessee, 2% to recipients in the District of Columbia, and 1% to recipients in New York. The filing also lists recipients in Georgia and Texas, each accounting for 0% when rounded.
Grant Distribution by State
Share of 2024 grant dollars across all 117 itemized grants.
Cities
Is Benwood Foundation Inc open to new grantees?
23%
first-time grantees, 2024
In 2024, 18 of 77 grantees (23%) were first-time recipients. First grants averaged $46K; repeat grants $120K. How we count
Medians: $10K first-time, $50K repeat.
- 66% of 2024 grantees were also funded in 2023. Method
- Giving grew 199% from 2021 to 2024. Method
- In 2024 it paid out 183% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $2.6M (2021) to $7.9M (2024). In 2024 it made 117 grants totaling $7.9M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Chattanooga Neighborhood Enterprise Chattanooga, TN | Housing & Neighborhood Strategies | $1,000,000 |
| Chattanooga Design Studio Chattanooga, TN | Montague Park Planning | $650,000 |
| Chattanooga Housing Authority Chattanooga, TN | Westside Evolves | $500,000 |
| Chattanooga Chamber Foundation Chattanooga, TN | Chattanooga 2.0 General Operating Support | $280,000 |
| Chattanooga Design Studio Chattanooga, TN | Central Civic District Plan | $275,000 |
| Urban League of Chattanooga Chattanooga, TN | General Operating Support/Capacity Building | $250,000 |
| Colab Chattanooga, TN | General Operating Support | $225,000 |
| Chattanooga Chamber Foundation Chattanooga, TN | Chattanooga Future Fund | $200,000 |
| Purpose Point Community Resource Center Chattanooga, TN | Expansion of Early Learning | $200,000 |
| River City Company Chattanooga, TN | Design Development of the Riverfront Parks Plan | $200,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $103,903,953 | $9,399,210 | $6,392,180 | $7,885,320 | 117 | $9,079,229 | $12,590,978 | $4,948,833 |
| 2023 | $104,799,873 | $4,933,911 | $6,727,445 | $4,983,175 | 100 | $6,163,457 | $5,519,634 | $5,018,560 |
| 2022 | $102,467,859 | $6,715,777 | $9,551,764 | $4,695,990 | 78 | $6,303,628 | $10,215,526 | $5,116,466 |
| 2021 | $121,358,625 | $8,777,854 | $4,349,479 | $2,641,490 | 75 | $4,917,904 | $14,647,361 | $5,372,881 |
| 2020 | $111,560,813 | $5,519,016 | $4,879,503 | $6,202,870 | 77 | — | $9,202,075 | $4,609,248 |
Under IRS private-foundation payout rules, Benwood Foundation Inc reported a distributable amount of $4.9M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
Benwood describes its work as supporting shared prosperity in Chattanooga. Its five focus areas are Urban Vitality, Talent, Economic Opportunity, Leadership & Engagement, and Culture & Belonging. These include inclusive downtown and neighborhood development; equitable education from cradle to career; pathways to high-wage careers and wealth-building; community engagement and diverse leadership; and cultural amenities that contribute to belonging.
The 2024 grants illustrate support for a range of organizations and projects. For example, Chattanooga Neighborhood Enterprise describes its mission as creating economically diverse neighborhoods and housing for all. Chattanooga Design Studio says it works to improve quality of life through livable, accessible, walkable, and humane urban design. Chattanooga Chamber Foundation describes its work as educating the public to improve economic growth and employment opportunities. Purpose Point Community Resource Center says it addresses educational, health, and socioeconomic well-being through support for individuals and families.
Grantmaking
In 2024, the foundation reported 117 grants totaling $7,885,320. Grant amounts ranged from $1,000 to $1,000,000, with a median of $20,000. Among the largest awards were $1,000,000 to Chattanooga Neighborhood Enterprise for housing and neighborhood strategies; $650,000 to Chattanooga Design Studio for Montague Park planning; $500,000 to Chattanooga Housing Authority for Westside Evolves; and $280,000 to Chattanooga Chamber Foundation for Chattanooga 2.0 general operating support.
The foundation’s website says it does not accept unsolicited grant requests and seeks long-term strategic partners in its priority areas; potential partners are invited to submit proposals, which are reviewed at quarterly trustee meetings. The 2024 filing describes the application as a brief two-page letter with a project or purpose description, budget information, an IRS letter of determination, and a list of officers and board members. It lists no deadlines and no restrictions on awards.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Paul K. Brock Jr., Ken Jones, Valoria Armstrong, Elaine Swafford, Stephen Culp, Eric Fuller, and Todd Womack as trustees, and Sarah Morgan as president.
Benwood Foundation Inc is led by Sarah Morgan, President on every filing since 2020; 1 of 8 officers listed in 2024 is compensated.
Officers on the 2024 filing
Sarah Morgan
President
On filings since 2020
40 hrs/week
$236K (2020) → $291K (2024)
Paul K. Brock Jr.
Trustee
On filings since 2020
2 hrs/week
No compensation reported
Valoria Armstrong
Trustee
On filings since 2020
2 hrs/week
No compensation reported
Elaine Swafford
Trustee
On filings since 2021
2 hrs/week
No compensation reported
Stephen Culp
Trustee
On filings since 2021
2 hrs/week
No compensation reported
Eric Fuller
Trustee
On filings since 2022
2 hrs/week
No compensation reported
Ken Jones
Trustee
On filings since 2023
2 hrs/week
No compensation reported
Todd Womack
Trustee
On filings since 2023
2 hrs/week
No compensation reported
Former officers (5)
- Former: Martha T. Robinson (2020–2022) — Trustee
- Former: William H. Chapin (2020–2021) — Trustee
- Former: Rebecca Suttles (2020) — Trustee
- Former: Tim Kelly (2020) — Trustee
- Former: Wade Hinton (2020) — Trustee
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $291K, to Sarah Morgan (President).
Frequently asked questions about Benwood Foundation Inc
How much does Benwood Foundation Inc give each year?
Benwood Foundation Inc gave $7.9M across 117 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $5.0M across 100 grants.
What is Benwood Foundation Inc's typical grant size?
Benwood Foundation Inc's median grant in 2024 was $20,000, and its average grant was $67,396, across 117 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Benwood Foundation Inc that year got $46K on average.
Where does Benwood Foundation Inc give grants?
Benwood Foundation Inc gives mostly in Tennessee: 97% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Chattanooga, TN (99 grants), Washington, DC (3 grants), Ooltewah, TN (3 grants) and Nashville, TN (2 grants).
Does Benwood Foundation Inc give general operating support?
Yes: 25% of Benwood Foundation Inc's 2024 grants with a stated purpose (29 of 117) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Benwood Foundation Inc's largest grantees?
Benwood Foundation Inc's largest 2024 grantees include Chattanooga Neighborhood Enterprise ($1,075,000 across 2 grants), Chattanooga Design Studio ($1,045,000 across 3 grants) and Chattanooga Chamber Foundation ($670,000 across 9 grants), according to its 2024 IRS Form 990-PF. It also paid 2 grants to individuals ($300,000), which are not listed by name. Together they received 35% of its itemized 2024 grant dollars.
How large is Benwood Foundation Inc?
Benwood Foundation Inc reported $103.9M in total assets on its 2024 IRS Form 990-PF. It paid out $9.1M in qualifying distributions that year, against a required minimum of $4.9M (roughly 5% of its investment assets).
What does Benwood Foundation Inc fund?
Benwood describes its work as supporting shared prosperity in Chattanooga. Its five focus areas are Urban Vitality, Talent, Economic Opportunity, Leadership & Engagement, and Culture & Belonging. See mission & focus areas ↑
How do I apply for a grant from Benwood Foundation Inc?
The foundation does not accept unsolicited requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Benwood Foundation Inc's EIN?
Benwood Foundation Inc's EIN (Employer Identification Number) is 62-0476283. IRS Form 990 filing data is available on this page for 2020–2024.
Does Benwood Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Benwood Foundation Inc funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/benwood-foundation-inc-morg_39491d378f1f41e9923ecb58d65707be
BibTeX
@misc{grantable_620476283_2026,
author = {{Grantable}},
title = {{Benwood Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/benwood-foundation-inc-morg_39491d378f1f41e9923ecb58d65707be},
note = {Accessed 2026-10-14. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Benwood Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Benwood Foundation Inc down — hundreds of funders to go?