Better Life Foundation
Better Life Foundation is a private foundation, based in JACKSON, MS. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $740K in total assets. In 2024, it awarded 4 grants totaling $35K. Net investment income was $292K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$740K
+147.4% YoY
Annual Giving
$35K
+37.3% YoY
Grant Count
4
+0.0% YoY
Avg Grant Size
$9K
+37.3% YoY
Under IRS private-foundation payout rules, Better Life Foundation reported a distributable amount of $29K for 2024 — the minimum it must pay out in qualifying distributions.
About Better Life Foundation
Based on IRS filings
Better Life Foundation is a private foundation, based in JACKSON, MS. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $740K in total assets. In 2024, it awarded 4 grants totaling $35K. Net investment income was $292K.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $740,052 | $299,127 | $301,856 |
| Revenue | $302,113 | $28,380 | $28,804 |
| Expenses | $48,388 | $31,109 | $30,469 |
| Qualifying Distributions | $35,000 | $25,500 | $25,000 |
| Net Investment Income | $291,628 | $24,884 | $24,659 |
| Distributable Amount | $29,397 | $20,237 | $23,733 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
Grant Size Distribution
13 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Galloway United Methodist ($10,000), The University of the South ($10,000), St Andrew's Episcopal School ($10,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Galloway United Methodist Jackson, MS | To support the programs of the organization | $10,000 |
| MILLSAPS COLLEGE JACKSON, MS | To support the programs of the organization | $5,000 |
| THE UNIVERSITY OF THE SOUTH SEWANEE, TN | To support the programs of the organization | $10,000 |
| ST ANDREW'S EPISCOPAL SCHOOL RIDGELAND, MS | To support the programs of the organization | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| VAUGHAN W MCRAE | PRESIDENT | — | — |
| NORA FRANCES MCRAE | DIRECTOR | — | — |
| DOUGLAS VAUGHAN MCRAE | DIRECTOR | — | — |
Frequently Asked Questions
How large is Better Life Foundation?
As of 2024, Better Life Foundation holds $740K in total assets with $302K in annual revenue. It awarded 4 grants totaling $35K in 2024.
Where does Better Life Foundation operate?
Better Life Foundation has awarded grants in Kentucky, Mississippi, Tennessee.
What size grants does Better Life Foundation award?
In 2024, Better Life Foundation awarded 4 grants totaling $35K — an average of about $9K per grant, based on its IRS Form 990 filings.
How much is Better Life Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Better Life Foundation reported a distributable amount of $29K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Better Life Foundation's EIN?
Better Life Foundation's EIN (Employer Identification Number) is 64-0811138. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Better Life Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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