Elaine's Reading Is Fun Foundation
Elaine's Reading Is Fun Foundation is a private foundation, based in Hoover, AL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $6.6M in total assets. In 2024, it awarded 2 grants totaling $85K. Net investment income was $152K.
Elaine's Reading Is Fun Foundation at a glance
In short: Elaine's Reading Is Fun Foundation gave $85K across 2 grants in 2024 (avg $42K), mostly in Alabama. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $84,500
- -5.6% vs 2023
- Grants made (2024)
- 2
- -50.0% vs 2023
- Average grant
- $42,250
- +88.8% vs 2023
- Median grant
- $42,250
- Total assets
- $6,642,911
- +3.5% vs 2023
- Primary geography
- Alabama (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
Who Elaine's Reading Is Fun Foundation funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2024
The largest 2024 recipient was The University of Montevallo Foundation ($65K). Together the top 2 received $85K.
Grant Size Distribution
17 grants across all recorded years
The most common grant size was under $50K: 15 grants of 17 (88%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 2 itemized grants.
Cities
How Elaine's Reading Is Fun Foundation gives
- Giving fell 23% from 2021 to 2024. Method
- In 2024 it paid out 48% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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 2024, annual grant giving ranged from $30K (2022) to $138K (2020). In 2024 it made 2 grants totaling $85K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The University of Montevallo Foundation Montevallo, AL | To support a music scholarship in the name of elaine b. Smith. | $64,500 |
| East Lake Academy Birmingham, AL | Donations support the school's mission through funding projects, student scholarships, educational materials and operational expenses, etc. | $20,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $6,642,911 | $307,884 | $85,611 | $84,500 | 2 | $84,500 | $152,381 | $177,343 |
| 2023 | $6,420,638 | $291,577 | $89,725 | $89,500 | 4 | $89,500 | $291,577 | $35,149 |
| 2022 | $6,218,786 | $216,540 | $33,633 | $30,000 | 1 | $30,000 | $216,540 | $141,131 |
| 2021 | $6,035,879 | $190,059 | $114,814 | $109,099 | 4 | $109,099 | $189,169 | $158,420 |
| 2020 | $5,960,634 | $171,271 | $137,579 | $137,554 | 6 | — | $171,004 | $172,819 |
Under IRS private-foundation payout rules, Elaine's Reading Is Fun Foundation reported a distributable amount of $177K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Elaine's Reading Is Fun Foundation is led by Homer E. Smith, President on every filing since 2020; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Homer E. Smith
President
On filings since 2020
1 hr/week
No compensation reported
Virgina S. Rawls
Director
On filings since 2020
0.1 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "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 Elaine's Reading Is Fun Foundation
How much does Elaine's Reading Is Fun Foundation give each year?
Elaine's Reading Is Fun Foundation gave $85K across 2 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $90K across 4 grants.
How large is Elaine's Reading Is Fun Foundation?
Elaine's Reading Is Fun Foundation reported $6.6M in total assets on its 2024 IRS Form 990-PF. It paid out $85K in qualifying distributions that year, against a required minimum of $177K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does Elaine's Reading Is Fun Foundation operate?
Elaine's Reading Is Fun Foundation has awarded grants in Alabama, Missouri, Tennessee.
What is Elaine's Reading Is Fun Foundation's EIN?
Elaine's Reading Is Fun Foundation's EIN (Employer Identification Number) is 45-5414350. IRS Form 990 filing data is available on this page for 2020–2024.
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 17, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 15, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 16, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS February 6, 2025)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 8, 2025)
- IRS filings on file for fiscal years 2020–2024
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