Carol Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in GALLATIN, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.0M in total assets. In 2024, it awarded 8 grants totaling $56K. Net investment income was $164K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.0M
+3.4% YoY
Annual Giving
$56K
-16.4% YoY
Grant Count
8
+0.0% YoY
Avg Grant Size
$7K
-16.4% YoY
Under IRS private-foundation payout rules, Carol Foundation reported a distributable amount of $102K for 2024 — the minimum it must pay out in qualifying distributions.
About Carol Foundation
Based on IRS filings
Carol Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in GALLATIN, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.0M in total assets. In 2024, it awarded 8 grants totaling $56K. Net investment income was $164K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,001,559 | $1,935,919 | $1,709,743 |
| Revenue | $199,529 | $365,345 | $245,385 |
| Expenses | $130,007 | $134,465 | $156,561 |
| Qualifying Distributions | $94,067 | $100,650 | $119,076 |
| Net Investment Income | $163,589 | $331,530 | $207,900 |
| Distributable Amount | $102,068 | $93,148 | $100,606 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
Grant Size Distribution
44 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Hannahs Haven ($10,000), Child Evangalism Fellowship ($8,000), Cumberland Chrisis Pregnancy Center ($8,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Hannahs Haven Greenville, NC | Operating Funds | $10,000 |
| Child Evangalism Fellowship Coatsville, PA | Trainin g And Salaries | $8,000 |
| Cumberland Chrisis Pregnancy Center Hendersonville, TN | Care for young mothers and babies | $8,000 |
| Got Questions Ministries Colorado Springs, CO | Fund Opertations | $8,000 |
| Mercy Multiplied Nashville, TN | Fund operations | $4,000 |
| Childrens Bible Ministries Townsend, TN | Train Missionaries | $5,000 |
| Men of Valor Antioch, TN | Operating Expenses | $8,000 |
| Samaritans Purse Boone, NC | Hurricane Relief | $5,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Carol Martin | Trustee | 4 | $5,000 |
| Dwight Martin | Sec Treas | 12 | $15,000 |
| Joy Henderson | President | 6 | $10,000 |
| Lorrie Gideon | Trustee | 4 | $5,000 |
| Melissa Black | Trustee | 4 | $5,000 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Carol Foundation?
Carol Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in GALLATIN, TN. It holds $2.0M in total assets as of 2024.
How large is Carol Foundation?
As of 2024, Carol Foundation holds $2.0M in total assets with $200K in annual revenue. It awarded 8 grants totaling $56K in 2024.
Where does Carol Foundation operate?
Carol Foundation has awarded grants in Colorado, Indiana, North Carolina, New Mexico, Pennsylvania, Tennessee, Texas, Wyoming.
What size grants does Carol Foundation award?
In 2024, Carol Foundation awarded 8 grants totaling $56K — an average of about $7K per grant, based on its IRS Form 990 filings.
How much is Carol Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Carol Foundation reported a distributable amount of $102K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Carol Foundation's EIN?
Carol Foundation's EIN (Employer Identification Number) is 26-0053395. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Carol 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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