Carl and Jessie Summers Scholarship Fund
Carl and Jessie Summers Scholarship Fund is a private foundation, based in Tupelo, MS. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $6.4M in total assets. In 2025, it awarded 1 grant totaling $663K. Net investment income was $403K.
Carl and Jessie Summers Scholarship Fund at a glance
In short: Carl and Jessie Summers Scholarship Fund gave $663K across 1 grant in 2025 (avg $663K), mostly in Alabama. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $662,594
- +97.9% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $662,594
- +97.9% vs 2024
- Median grant
- $662,594
- Total assets
- $6,403,428
- -4.3% vs 2024
- Primary geography
- Alabama (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
Who Carl and Jessie Summers Scholarship Fund funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Auburn Univeristy Endowment Investment Office ($663K).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $250–500K range: 4 grants of 5 (80%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How Carl and Jessie Summers Scholarship Fund gives
- Giving grew 111% from 2022 to 2025. Method
- In 2025 it paid out 172% 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 2020 to 2025, annual grant giving ranged from $115K (2020) to $663K (2025). In 2025 it made 1 grant totaling $663K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Auburn Univeristy Endowment Investment Office Auburn, AL | Educational Scholarships | $662,594 |
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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 | $6,403,428 | $460,964 | $734,988 | $662,594 | 1 | $679,772 | $402,968 | $396,268 |
| 2024 | $6,691,767 | $510,917 | $404,391 | $334,851 | 1 | $351,462 | $456,872 | $336,478 |
| 2023 | $6,251,364 | $291,784 | $403,294 | $334,851 | 1 | $349,562 | $240,387 | $353,500 |
| 2022 | $6,369,189 | $601,071 | $379,929 | $314,062 | 1 | $327,664 | $536,698 | $348,453 |
| 2021 | $6,151,399 | $645,625 | $323,480 | $255,038 | 1 | $281,787 | $607,391 | $340,811 |
| 2020 | $5,829,259 | $647,859 | $165,417 | $114,598 | 1 | — | $605,664 | $276,817 |
Under IRS private-foundation payout rules, Carl and Jessie Summers Scholarship Fund reported a distributable amount of $396K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Carl and Jessie Summers Scholarship Fund's only listed officer is Huntington National Bank, Corporate Trustee on the 2025 filing (compensated).
Officers on the 2025 filing
Huntington National Bank
Corporate Trustee
New on the 2025 filing
1 hr/week
$68K (2025)
Former officers (2)
- Former: Cadence Bank (2021–2024) — Corporate Trustee
- Former: Bancorpsouth (2020) — Corporate Trustee
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $68K, to Huntington National Bank (Corporate Trustee).
Frequently asked questions about Carl and Jessie Summers Scholarship Fund
How much does Carl and Jessie Summers Scholarship Fund give each year?
Carl and Jessie Summers Scholarship Fund gave $663K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $335K across 1 grant.
How large is Carl and Jessie Summers Scholarship Fund?
Carl and Jessie Summers Scholarship Fund reported $6.4M in total assets on its 2025 IRS Form 990-PF. It paid out $680K in qualifying distributions that year, against a required minimum of $396K (roughly 5% of its investment assets).
Where does Carl and Jessie Summers Scholarship Fund operate?
Carl and Jessie Summers Scholarship Fund has awarded grants in Alabama.
What is Carl and Jessie Summers Scholarship Fund's EIN?
Carl and Jessie Summers Scholarship Fund's EIN (Employer Identification Number) is 20-3919247. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 12, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 11, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 12, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 7, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS October 9, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 28, 2026)
Live grants for the work Carl and Jessie Summers Scholarship Fund funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
- Nixa Affiliate Grantmaking Program Up to US $10,000 · Due October 19, 2026
- Community and School Grants $28,000 total pool; 10-15 grants expected · Due October 19, 2026
- Mary Pinola/Crescenta Valley Chamber Education Fund $500 - $5,000 for ongoing programs; up to $15,000 for Strategic Initiative Grants · Due October 19, 2026
Explore Open Grants
Browse active grant opportunities in Carl and Jessie Summers Scholarship Fund's focus areas in our free grants database
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