Carol and Witt Stephens
Carol and Witt Stephens is a private foundation based in Little Rock, Arkansas. Its 2025 filing reports grants to charitable organizations supporting areas that include higher education, the arts, wildlife conservation, and community programs.
Carol and Witt Stephens at a glance
In short: Carol and Witt Stephens gave $976K across 11 grants in 2025 (avg $89K), mostly in Virginia. 18% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $975,739
- +188.2% vs 2024
- Grants made (2025)
- 11
- +10.0% vs 2024
- Average grant
- $88,704
- +162.0% vs 2024
- Median grant
- $12,000
- Total assets
- $1,607,102
- -25.3% vs 2024
- New grantees (estimate)
- 18% first-time grantees (2 of 11, 2025; small sample)
- Primary geography
- Virginia (69% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Carol and Witt Stephens
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations.
- Contact
Mailing address: PO Box 3417, Little Rock, AR 72203
Phone: (501) 377-2118
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Carol and Witt Stephens funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Jefferson Scholars Foundation ($670K). Together the top 10 received $975K.
Grant Size Distribution
71 grants across all recorded years
The most common grant size was under $50K: 58 grants of 71 (82%).
Geographic Focus
Where this funder awards grants
The 2025 filing reports that the largest shares of grant dollars went to organizations in Virginia (69%) and Arkansas (26%). It also reports shares for Florida (3%), New Jersey (2%), and Texas (1%).
Grant Distribution by State
Share of 2025 grant dollars across all 11 itemized grants.
Cities
Is Carol and Witt Stephens open to new grantees?
18%
first-time grantees, 2025
In 2025, 2 of 11 grantees (18%) were first-time recipients. With only 11 grantees, that is a small sample: one grantee more or less moves the share by about 9 points. First grants averaged $4K; repeat grants $108K. How we count
Medians: $4K first-time, $20K repeat.
- 64% of 2025 grantees were also funded in 2024. Method
- Giving fell 47% from 2022 to 2025. Method
- In 2025 it paid out 483% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). 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 2025, annual grant giving ranged from $339K (2024) to $1.8M (2022). In 2025 it made 11 grants totaling $976K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Jefferson Scholars Foundation Charlottesville, VA | 38,500 Units of Energy Transfer Partners LP | $669,515 |
| Arkansas Museum of Fine Arts Foundation Litle Rock, AR | Reimagining the Arkansas Museum of Fine Arts Campaign | $200,000 |
| Tall Timbers Foundation Tallahassee, FL | Albany Quail Project | $30,124 |
| Arkansas Game & Fish Foundation Litle Rock, AR | Mallards for marion & get it for game wardens | $21,000 |
| Uset Foundation Gladstone, NJ | Pathway to the Podium | $20,000 |
| New Life Church Conway, AR | General Fund | $12,000 |
| Arkansas Single Parent Scholarship Fund Springdale, AR | 2025 a Day of Hope Presenting Sponsorship | $10,000 |
| Sculpture at the Rivermarket Little Rock, AR | General Fund | $5,000 |
| Greater Houston Community Foundation Houston, TX | Brittany Ann Hildebrand Fund for Adhd Prescription Reform | $5,000 |
| First United Methodist Church Magnolia, AR | Tucker Elliott Franks Scholarship Fund | $2,000 |
Ready to take the next step with Carol and Witt Stephens?
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 | $1,607,102 | $437,979 | $982,003 | $975,739 | 11 | $975,739 | $437,979 | $202,006 |
| 2024 | $2,152,142 | $91,736 | $345,449 | $338,515 | 10 | $338,515 | $91,736 | $208,089 |
| 2023 | $2,407,411 | $138,278 | $1,097,644 | $1,092,725 | 17 | $1,092,725 | $138,278 | $219,741 |
| 2022 | $3,367,222 | $74,347 | $1,896,456 | $1,845,495 | 17 | $1,845,495 | $74,304 | $266,230 |
| 2021 | $5,189,499 | $2,032,405 | $360,331 | $348,170 | 16 | $348,170 | $2,032,405 | $271,980 |
| 2020 | $3,517,798 | $532,159 | $718,569 | $708,670 | 22 | — | $532,159 | $261,140 |
Under IRS private-foundation payout rules, Carol and Witt Stephens reported a distributable amount of $202K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2025 grants include support for the Jefferson Scholars Foundation, whose stated mission is to provide merit-based scholarships, fellowships, and professorships at the University of Virginia, and the Arkansas Museum of Fine Arts Foundation, which manages an endowment for the museum and holds legal title to its art collection.
Other 2025 grantees describe work in wildlife conservation and education, support for low-income single parents pursuing post-secondary education, and waterfowl conservation. These are the grantees’ stated missions, not a stated mission of the foundation.
Grantmaking
In 2025, the foundation gave $975,739 through 11 grants. Grant amounts ranged from $1,100 to $669,515, with a median grant of $12,000. The largest grants were $669,515 to the Jefferson Scholars Foundation for 38,500 units of Energy Transfer Partners LP and $200,000 to the Arkansas Museum of Fine Arts Foundation for its Reimagining the Arkansas Museum of Fine Arts campaign. Other grants included $30,124 to Tall Timbers Foundation for the Albany Quail Project and $21,000 to Arkansas Game & Fish Foundation for Mallards for Marion and Get It for Game Wardens.
Leadership & Key People
Leadership team and compensation from IRS filings
WR Stephens Jr. is listed as a trustee on the 2025 filing.
Carol and Witt Stephens is led by Wr Stephens Jr., Trustee on every filing since 2020 — the only officer listed, and uncompensated.
Officers on the 2025 filing
Wr Stephens Jr.
Trustee
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 Carol and Witt Stephens
How much does Carol and Witt Stephens give each year?
Carol and Witt Stephens gave $976K across 11 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $339K across 10 grants.
What is Carol and Witt Stephens's typical grant size?
Carol and Witt Stephens's median grant in 2025 was $12,000, and its average grant was $88,704, across 11 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Carol and Witt Stephens that year got $4K on average.
Where does Carol and Witt Stephens give grants?
Carol and Witt Stephens gives mostly in Virginia: 69% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Arkansas (26%). The most frequent recipient cities were Litle Rock, AR (2 grants).
Does Carol and Witt Stephens give general operating support?
Yes: 18% of Carol and Witt Stephens's 2025 grants with a stated purpose (2 of 11) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Carol and Witt Stephens's largest grantees?
Carol and Witt Stephens's largest 2025 grantees include Jefferson Scholars Foundation ($669,515), Arkansas Museum of Fine Arts Foundation ($200,000) and Tall Timbers Foundation ($30,124), according to its 2025 IRS Form 990-PF. Together they received 92% of its itemized 2025 grant dollars.
How large is Carol and Witt Stephens?
Carol and Witt Stephens reported $1.6M in total assets on its 2025 IRS Form 990-PF. It paid out $976K in qualifying distributions that year, against a required minimum of $202K (roughly 5% of its investment assets).
What does Carol and Witt Stephens fund?
No mission statement for the foundation is provided. See mission & focus areas ↑
How do I apply for a grant from Carol and Witt Stephens?
The foundation does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Carol and Witt Stephens's EIN?
Carol and Witt Stephens's EIN (Employer Identification Number) is 31-1740109. IRS Form 990 filing data is available on this page for 2020–2025.
Does Carol and Witt Stephens 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
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 24, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Carol and Witt Stephens funds
Human Services Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Carol and Witt Stephens's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
James I Freeman Charitable Trust
Texarkana, AR
The trust funds preselected charities in education, athletics, health, arts, children’s services, community advancement, and law enforcement. Its 2024 grants ranged from $500 to $62,500, with a median of $1,750; 70% of grant dollars went to Arkansas, with others going to Nevada, Texas, and Maryland. It does not accept unsolicited funding requests.
Assets
$8.8M
Grants
32
Total Given
$324K
Duke Energy Foundation
Charlotte, NC
The Duke Energy Foundation funds workforce and local economic development, disaster resilience, conservation, clean water, and economic opportunity in North Carolina, South Carolina, Florida, Ohio, Kentucky, and Indiana. Its 2024 grants had a median of $25,000; applications for grants of $20,000 or less are accepted year-round, after applicants discuss proposals with a state representative.
Assets
$1.9M
Grants
41
Total Given
$25.6M
Riggs Benevolent Fund
Little Rock, AR
The fund supports a broad range of education, health, human-services, youth, and community organizations, primarily in Arkansas. Its 2025 grants ranged from $1,000 to $100,000, with a median award of $5,000. The filing says there is no particular application form, but does not state whether unsolicited requests are accepted.
Assets
$15.3M
Grants
86
Total Given
$724K
Aetna Foundation Inc
Hartford, CT
Aetna Foundation supported health and wellness, access to health care, and related community needs; its 2021 grants ranged from $5,000 to $1 million, with a median of $40,000, and went to organizations across multiple states, especially in D.C. and Connecticut. Its 2021 filing was marked final, so it appears to have ended or be winding down grantmaking; that filing said there were no restrictions on who could apply and pointed applicants to its website for application materials.
Assets
—
Grants
65
Total Given
$7.2M
The Brown Foundation Inc
Houston, TX
The Brown Foundation funds education, arts and culture, healthcare, human services, and civic assets, with education and the arts as top priorities and public education giving focused almost exclusively on greater Houston. Its 2025 grants ranged from $20,000 to $11 million, with a median of $50,000; it primarily supports Houston organizations and selectively funds distinctive opportunities elsewhere in Texas and beyond.
Assets
$1.1B
Grants
222
Total Given
$84.3M
WAL-Mart Foundation
Bentonville, AR
The Wal-Mart Foundation funds economic opportunity, sustainability, racial equity, and community programs, with a focus on places where Walmart operates; its 2025 grants ranged from $5,000 to $8.51 million, with a median of $430,000. It accepts unsolicited requests through some program-specific routes, including open Spark Good Local Grants of $250–$5,000; application options vary by program.
Assets
$23.4M
Grants
144
Total Given
$113.9M
More similar funders
More Funders in Arkansas
Cite this profile
Grantable. (2026). Carol and Witt Stephens funder profile. GrantGraph. Retrieved October 18, 2026, from https://grantable.co/funders/carol-and-witt-stephens-morg_3a08498fbddc40bda9e0d7204def0cce
BibTeX
@misc{grantable_311740109_2026,
author = {{Grantable}},
title = {{Carol and Witt Stephens funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/carol-and-witt-stephens-morg_3a08498fbddc40bda9e0d7204def0cce},
note = {Accessed 2026-10-18. 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 Carol and Witt Stephens'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.
Carol and Witt Stephens down — hundreds of funders to go?