Better Life Foundation

Private foundation · Grantmaker Jackson, MS EIN: 64-0811138

Better Life Foundation is a private foundation, based in Jackson, MS. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $929K in total assets. In 2025, it awarded 4 grants totaling $62K. Net investment income was $31K.

Key facts about Better Life Foundation

In short: Better Life Foundation gave $62K across 4 grants in 2025 (avg $16K), mostly in Mississippi. Source: 2025 IRS Form 990-PF.

EIN
64-0811138
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$62,000
Grants made (2025)
4
Average grant
$15,500
Median grant
$13,500
Total assets
$928,709
Primary geography
Mississippi (68% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$929K

+25.5% YoY

Annual Giving

$62K

+77.1% YoY

Grant Count

4

+0.0% YoY

Avg Grant Size

$16K

+77.1% YoY

Under IRS private-foundation payout rules, Better Life Foundation reported a distributable amount of $39K for 2025 — the minimum it must pay out in qualifying distributions.

How Better Life Foundation gives

  • Giving grew 148% from 2022 to 2025. Method
  • In 2025 it paid out 161% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

4states

Share of 2025 grant dollars across all 4 itemized grants.

Cities

JacksonRidgelandSewaneeLouisvilleSt. Louis

Giving Over Time

Total grant dollars and number of grants per year

$0$20K$40K$60K$80K2 grants2020 2 grants2021 1 grant2022 0 grants2023 4 grants2024 4 grants2025

From 2020 to 2025, annual grant giving ranged from $10K (2020) to $62K (2025). In 2025 it made 4 grants totaling $62K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 4 recipients in 2025

Galloway United Methodist: $30KGalloway United Methodist$30KThe University of the South: $15KThe University of the South$15KSt Andrew's Episcopal School: $12KSt Andrew's Episcopal School$12KCommunity School: $5KCommunity School$5K

The largest 2025 recipient was Galloway United Methodist ($30K). Together the top 4 received $62K.

Grant Size Distribution

11 grants across all recorded years

11<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 11 grants of 11 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Galloway United Methodist Jackson, MSTo support the programs of the organization$30,000
The University of the South Sewanee, TNTo support the programs of the organization$15,000
St Andrew's Episcopal School Ridgeland, MSTo support the programs of the organization$12,000
Community School St. Louis, METo support the programs of the organization$5,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$100K$200K$300K$400K2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$928,709$740,052$486,327
Revenue$265,460$302,113$307,659
Expenses$76,803$48,388$2,783
Qualifying Distributions$62,000$35,000—
Net Investment Income$31,175$291,628$99,519
Distributable Amount$38,531$29,397$19,975

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 15, 2024)
  2. Added Form 990-PF for fiscal year 2025 (received by the IRS June 1, 2026)
  3. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Officers and directors from IRS filings

Better Life Foundation is led by Vaughan W. McRae, President on every filing since 2020; none of the 3 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Vaughan W. McRae

    President

    On filings since 2020

    No compensation reported

  • Douglas Vaughan McRae

    Director

    On filings since 2020

    No compensation reported

  • Nora Frances McRae

    Director

    On filings since 2020

    No compensation reported

Data from IRS Form 990 filings, 2020–2025. "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 Better Life Foundation

How much does Better Life Foundation give each year?

Better Life Foundation gave $62K across 4 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $35K across 4 grants.

What is Better Life Foundation's typical grant size?

Better Life Foundation's median grant in 2025 was $13,500, and its average grant was $15,500, across 4 grants on its 2025 IRS Form 990-PF.

Where does Better Life Foundation give grants?

Better Life Foundation gives mostly in Mississippi: 68% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were Tennessee (24%) and Maine (8%).

Does Better Life Foundation give general operating support?

Not in 2025: none of the 4 grants with a stated purpose on Better Life Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "To support the programs of the organization" (4 grants).

How large is Better Life Foundation?

Better Life Foundation reported $929K in total assets on its 2025 IRS Form 990-PF. It paid out $62K in qualifying distributions that year, against a required minimum of $39K (roughly 5% of its investment assets).

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 2020–2025.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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