Ella Ann L and Frank B Holding Foundatio
The Ella Ann L and Frank B Holding Foundation is a private foundation based in Smithfield, North Carolina. Designated as a 501(c)(3) organization, it has been tax-exempt since August 1997. The foundation operates as a corporate foundation affiliated with First Citizens Bank and focuses on educational institutions and related activities, particularly scholarships and student financial aid services.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$18.1M
+2.3% YoY
Annual Giving
$1.0M
+4.6% YoY
Grant Count
107
+2.9% YoY
Avg Grant Size
$10K
+1.7% YoY
Under IRS private-foundation payout rules, Ella Ann L and Frank B Holding Foundatio reported a distributable amount of $1.3M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's primary funding priorities include:
- Education — General support for educational institutions and scholarship programs
- Philanthropy, Voluntarism & Grantmaking — Support for charitable and philanthropic initiatives
- Human Services — Community-focused programs and services
Grantmaking
The foundation awards grants for general support and scholarships to educational institutions and related organizations.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in:
- North Carolina
- South Carolina
- Virginia
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023
- Total Assets: $17,737,297
- Total Revenues: $922,752
- Total Expenses: $1,060,281
- Total Liabilities: $0
Historical Asset Growth The foundation has maintained substantial assets, with total assets reaching $17.7 million by 2023.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $18,148,408 | $17,737,297 | $17,874,826 |
| Revenue | $1,533,140 | $922,752 | $1,119,822 |
| Expenses | $1,122,029 | $1,060,281 | $1,158,653 |
| Qualifying Distributions | $1,019,275 | $974,289 | $1,031,479 |
| Net Investment Income | $1,115,052 | $502,657 | $714,936 |
| Distributable Amount | $1,291,512 | $1,031,031 | $963,906 |
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
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Chi Omega Foundation ($25,000), Centenary United Methodist Church ($20,000), Campbell University ($15,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ALLEGHANY CARES SPARTA, NC | GENERAL SUPPORT | $5,000 |
| ALLEGHANY COUNTY RESCUE SQUAD SPARTA, NC | GENERAL SUPPORT | $2,000 |
| ALLIANCE MEDICAL MINISTRY RALEIGH, NC | GENERAL SUPPORT | $13,000 |
| APPALACHIAN STATE UNIVERSITY FOUNDATION BOONE, NC | GENERAL SUPPORT | $10,000 |
| ARIZONA BAPTIST CHILDREN'S SERVICES TUCSON, AZ | GENERAL SUPPORT | $1,000 |
| AVA GARDNER MUSEUM SMITHFIELD, NC | GENERAL SUPPORT | $1,000 |
| BOY SCOUTS OF AMERICA - TUSCARORA COUNCIL GOLDSBORO, NC | GENERAL SUPPORT | $5,000 |
| BOYS AND GIRLS CLUB OF CARTERET COUNTY BEAUFORT, NC | GENERAL SUPPORT | $2,000 |
| BOYS AND GIRLS CLUB OF WAKE COUNTY RALEIGH, NC | GENERAL SUPPORT | $3,500 |
| BURNING COAL THEATER RALEIGH, NC | GENERAL SUPPORT | $3,750 |
Leadership & Key People
Leadership team and compensation from IRS filings
Frank Brown Holding — Founder and philanthropist. Frank Holding (1928–2017) was a former executive at First Citizens Bank, where he served in executive management and on the company board from 1962 until his retirement in 2014. He had a 58-year career with First Citizens Bank and was inducted into the North Carolina Banking Hall of Fame in 2013. He also served as a Johnston County commissioner for over three decades and was involved with multiple philanthropic boards and foundations.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| OLIVIA B HOLDING | PRESIDENT | 0.5 | — |
| FRANK B HOLDING JR | VICE PRESIDENT | 0.5 | — |
| HOPE HOLDING BRYANT | TREASURER | 0.5 | — |
| JUDITH A MURRAY | SECRETARY | 0.5 | — |
| CLAIRE H BRISTOW | DIRECTOR | 0.5 | — |
| CARSON H BRICE | DIRECTOR | 0.5 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Ella Ann L and Frank B Holding Foundatio fund?
The foundation's primary funding priorities include: • **Education** — General support for educational institutions and scholarship programs • **Philanthropy, Voluntarism & Grantmaking** — Support for charitable and philanthropic initiatives • **Human Services** — Community-focused programs and services
How do I apply for a grant from Ella Ann L and Frank B Holding Foundatio?
**Grant Activity (2023)** • Total giving: $972,500 • Number of grants: 104 • Typical award range: $500–$225,000 **Recent Notable Grants** • Salem Academy and College: $225,000 (General Support) • Chabad at Wake Forest University and Winston Salem: $75,000 (General Support) • Asheville School: $21,000 (Scholarship) The foundation awards grants for general support and scholarships to educational institutions and related organizations.
Where does Ella Ann L and Frank B Holding Foundatio make grants?
The foundation primarily funds organizations in: • North Carolina • South Carolina • Virginia
What size grants does Ella Ann L and Frank B Holding Foundatio award?
In 2024, Ella Ann L and Frank B Holding Foundatio awarded 107 grants totaling $1.0M — an average of about $10K per grant, based on its IRS Form 990 filings.
How much is Ella Ann L and Frank B Holding Foundatio required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Ella Ann L and Frank B Holding Foundatio reported a distributable amount of $1.3M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Ella Ann L and Frank B Holding Foundatio's EIN?
Ella Ann L and Frank B Holding Foundatio's EIN (Employer Identification Number) is 56-2002528. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.