Benwood Foundation Inc
Benwood Foundation Inc. is a private foundation based in Chattanooga, Tennessee, focused on supporting leaders and initiatives that strengthen shared prosperity and inclusion in the community. The foundation was established in 1946 and operates as a 501(c)(3) tax-exempt organization.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$103.9M
-0.9% YoY
Annual Giving
$7.9M
+58.2% YoY
Grant Count
117
+17.0% YoY
Avg Grant Size
$67K
+35.2% YoY
Mission & Focus Areas
The Benwood Foundation is committed to supporting leaders and initiatives that help strengthen shared prosperity and inclusion in Chattanooga. The foundation operates across five primary focus areas:
Urban Vitality — Sustaining and enhancing an authentic and high-quality downtown that is inclusive by design, while building healthy diverse neighborhoods with accessible wealth-building opportunities and workforce affordability.
Talent — Supporting a high-quality and equitable education system from cradle to career that ensures all children are physically and emotionally healthy, socially and civically connected, and academically and vocationally productive.
Economic Opportunity — Creating inclusive pathways to high-wage careers and wealth-building opportunities while removing systemic barriers that stand in the way of prosperity for all.
Leadership & Engagement — Building and supporting an ecosystem of community engagement comprised of diverse residents and leaders at all levels who have the power and agency to actively participate in charting their future.
Culture & Belonging — Strengthening, supporting, and celebrating cultural amenities and offerings that contribute to a sense of place and belonging for all residents.
Grantmaking
The foundation makes grants ranging from $500 to $1,000,000, with an average grant size of approximately $62,000 and a median grant of $10,000.
Grant Range
of approximately $62,000 and a median grant of $10,000.
Average Grant
of approximately $62,000 and a median grant of $10,000.
How to Apply
** Applications should be submitted as a brief two-page letter that includes a description of the project or purpose, budget information, and an IRS letter of determination.
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Geographic Focus
Where this funder awards grants
The foundation primarily supports organizations in Tennessee, with significant grantmaking also reaching the District of Columbia, New York, Georgia, California, Oregon, and Texas. The foundation funds projects across multiple U.S. cities including Atlanta, Chattanooga, Dallas, Durham, Los Angeles, Nashville, New York, Portland, San Francisco, and Washington.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets: $103.9 million to $104.8 million (as of 2024)
Annual Revenue: $9.4 million (2024); $22.2 million reported in some filings
Annual Expenses: $6.39 million (2024)
Net Income: $3.0 million (2024)
Total Liabilities: $1.93 million (2024)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $103,903,953 | $104,799,873 | $102,467,859 |
| Revenue | $9,399,210 | $4,933,911 | $6,715,777 |
| Expenses | $6,392,180 | $6,727,445 | $9,551,764 |
| Qualifying Distributions | $9,079,229 | $6,163,457 | $6,303,628 |
| Net Investment Income | $12,590,978 | $5,519,634 | $10,215,526 |
| Distributable Amount | $4,948,833 | $5,018,560 | $5,116,466 |
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
Open Grants
1 open opportunity from Benwood Foundation Inc
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Sarah Morgan serves as President of the foundation, working full-time with a compensation of $275,000. The foundation is governed by 8 officers and trustees, several of whom serve without compensation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| PAUL K BROCK JR | TRUSTEE | 2 | — |
| KEN JONES | TRUSTEE | 2 | — |
| SARAH MORGAN | PRESIDENT | 40 | $290,900 |
| VALORIA ARMSTRONG | TRUSTEE | 2 | — |
| ELAINE SWAFFORD | TRUSTEE | 2 | — |
| STEPHEN CULP | TRUSTEE | 2 | — |
| ERIC FULLER | TRUSTEE | 2 | — |
| TODD WOMACK | TRUSTEE | 2 | — |
Contact Information
Address: 736 Market Street, Suite 1600, Chattanooga, TN 37402
Phone: (423) 267-4311
Email: morr@benwood.org
Website: www.benwood.org
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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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