Castle Hills Schools Foundation Inc
Castle Hills Schools Foundation Inc is a private foundation based in Lewisville, Texas. Established in 1999, it is a unique nonprofit organization created by the Castle Hills development community to support educational initiatives for local children. The foundation is funded through a dedicated revenue stream: a fee of 1/2 of one percent of the sales price on the transfer of all real property within the Castle Hills community. This sustainable funding mechanism ensures ongoing support for education in perpetuity.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$9.8M
+22.5% YoY
Annual Giving
$1.6M
+4.5% YoY
Grant Count
26
+8.3% YoY
Avg Grant Size
$60K
-3.5% YoY
Under IRS private-foundation payout rules, Castle Hills Schools Foundation Inc reported a distributable amount of $431K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's primary purpose is giving for education, including support to Catholic and Protestant religious schools. Since its inception, the foundation has distributed over $21 million to local schools and college reimbursement programs.
The foundation supports two main initiatives:
School Grants: Lewisville ISD schools zoned for Castle Hills receive the majority of funds, but any nonprofit school with even one student from Castle Hills is eligible for support. Castle Hills homeowners serve on the Foundation Advisory Boards and make recommendations on how each school uses their awarded funds.
College Reimbursement Program: The foundation supports higher education for Castle Hills children through tuition reimbursement. Eligible students (children of Castle Hills property owners, age 24 or younger at the beginning of the academic semester, attending accredited two- or four-year colleges) may receive up to a lifetime maximum of $10,000 per child. Annual awards are $1,000 for 12-23 earned college credit hours and a maximum of $2,000 for completion of 24 or more hours.
Grantmaking
Grant Range
s**: Typical awards range from $144 to $1,139,000, with a median grant amount of $7,000.
How to Apply
**: The foundation does not accept unsolicited applications and operates on an invite-only basis. College reimbursement applications are available May 31st of each year and must be submitted by September 1st for consideration.
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Geographic Focus
Where this funder awards grants
The foundation focuses exclusively on in-state funding within Texas. Primary support goes to schools zoned for Castle Hills within Lewisville ISD, though any nonprofit school with at least one student from Castle Hills is eligible.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets: $9,799,518 (as of 2024)
Total Revenues: $3,305,687 (2024)
Total Expenses: $1,644,555 (2024)
Total Giving: $1,571,681 (2024)
Giving Rate: Approximately 4.4% of assets annually
Revenue Growth: Total grants and contributions increased 82.6% from 2023 ($1,408,633) to 2024 ($2,572,482)
Employees: 0 (foundation operates without staff)
Tax Status: 501(c)(3) private foundation; tax-exempt since February 1999
EIN: 75-2732689
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $9,799,518 | $8,002,554 | $7,374,740 |
| Revenue | $3,305,687 | $1,614,263 | $2,847,409 |
| Expenses | $1,644,555 | $1,570,768 | $1,485,673 |
| Qualifying Distributions | $1,583,624 | $1,510,749 | $1,427,433 |
| Net Investment Income | $663,259 | $150,514 | $132,688 |
| Distributable Amount | $431,176 | $376,701 | $363,104 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
200 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include 635 Individuals ($1,139,000), Hebron High School ($124,544), Killian Middle School ($75,669).
| Recipient | Purpose | Amount |
|---|---|---|
| 635 INDIVIDUALS LEWISVILLE, TX | COLLEGE SCHOLARSHIPS | $1,139,000 |
| CASTLE HILLS ELEMENTARY SCHOOL LEWISVILLE, TX | GENERAL USE | $73,585 |
| CORAM DEO ACADEMY LEWISVILLE, TX | GENERAL USE | $2,325 |
| FOUNDERS CLASSICAL ACADEMY OF LEWISVILLE LEWISVILLE, TX | GENERAL USE | $3,487 |
| GREAT HEARTS IRVING IRVING, TX | GENERAL USE | $436 |
| GREENHILL SCHOOL ADDISON, TX | GENERAL USE | $3,197 |
| HARMONY SCHOOL OF SCIENCE CARROLLTON, TX | GENERAL USE | $872 |
| HEBRON 9TH GRADE CAMPUS CARROLLTON, TX | GENERAL USE | $48,123 |
| HEBRON HIGH SCHOOL CARROLLTON, TX | GENERAL USE | $124,544 |
| INDEPENDENCE ELEMENTARY SCHOOL LEWISVILLE, TX | GENERAL USE | $9,342 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARY KATERINE BEARDEN | PRESIDENT/DIRECTOR | 5 | — |
| VIRGINIA KOONS | VICE PRESIDENT/DIRECTOR | 2 | — |
| PARKER BRIGHT | TREASURER/DIRECTOR | 1 | — |
| HARVEY BRIGHT | SECRETARY/DIRECTOR | 1 | — |
| JUSTIN BRIGHT | ASSISTANT SECRETARY/DIRECTOR | 1 | — |
| VICKI VAUGHN FRUGE | DIRECTOR | 10 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Castle Hills Schools Foundation Inc fund?
The foundation's primary purpose is giving for education, including support to Catholic and Protestant religious schools. Since its inception, the foundation has distributed over $21 million to local schools and college reimbursement programs. The foundation supports two main initiatives: **School Grants**: Lewisville ISD schools zoned for Castle Hills receive the majority of funds, but any nonprofit school with even one student from Castle Hills is eligible for support. Castle Hills homeowners…
How do I apply for a grant from Castle Hills Schools Foundation Inc?
**Grant Activity**: The foundation made $1,571,681 in total giving in 2024 through 19 grants. Recent grant recipients include Prestonwood Christian Academy ($19,324), Prince of Peace Catholic School ($8,863), and Trivium Academy ($7,265). **Grant Sizes**: Typical awards range from $144 to $1,139,000, with a median grant amount of $7,000. **Application Process**: The foundation does not accept unsolicited applications and operates on an invite-only basis. College reimbursement applications are a…
Where does Castle Hills Schools Foundation Inc make grants?
The foundation focuses exclusively on in-state funding within Texas. Primary support goes to schools zoned for Castle Hills within Lewisville ISD, though any nonprofit school with at least one student from Castle Hills is eligible.
What size grants does Castle Hills Schools Foundation Inc award?
In 2024, Castle Hills Schools Foundation Inc awarded 26 grants totaling $1.6M — an average of about $60K per grant, based on its IRS Form 990 filings.
How much is Castle Hills Schools Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Castle Hills Schools Foundation Inc reported a distributable amount of $431K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Castle Hills Schools Foundation Inc's EIN?
Castle Hills Schools Foundation Inc's EIN (Employer Identification Number) is 75-2732689. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Castle Hills Schools Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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