Eugene R Matthews Memorial Fund
Eugene R Matthews Memorial Fund is a private foundation, based in Gastonia, NC. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $1.3M in total assets. In 2025, it awarded 1 grant totaling $25K. Net investment income was $434K.
Eugene R Matthews Memorial Fund at a glance
In short: Eugene R Matthews Memorial Fund gave $25K across 1 grant in 2025 (avg $25K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $25,000
- -80.0% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $25,000
- -80.0% vs 2024
- Median grant
- $25,000
- Total assets
- $1,343,674
- +42.6% vs 2024
- Primary geography
- North Carolina (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Eugene R Matthews Memorial Fund funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Gaston Community Foundation ($25K).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was under $50K: 2 grants of 5 (40%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How Eugene R Matthews Memorial Fund gives
- Giving fell 55% from 2022 to 2025. Method
- In 2025 it paid out 47% 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 2021 to 2025, annual grant giving ranged from $25K (2025) to $125K (2024). In 2025 it made 1 grant totaling $25K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Gaston Community Foundation Gastonia, NC | Donor Advised Fund | $25,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2025 | $1,343,674 | $434,041 | $32,734 | $25,000 | 1 | $25,000 | $434,041 | $53,310 |
| 2024 | $942,367 | $157,611 | $129,297 | $125,000 | 1 | $125,000 | $157,611 | $58,492 |
| 2023 | $914,053 | $103,252 | $71,612 | $63,555 | 1 | $63,555 | $103,252 | $52,023 |
| 2022 | $882,413 | $142,233 | $61,897 | $55,431 | 1 | $55,431 | $142,203 | $63,555 |
| 2021 | $807,077 | $103,368 | $49,189 | $43,579 | 1 | — | $103,338 | $55,431 |
Under IRS private-foundation payout rules, Eugene R Matthews Memorial Fund reported a distributable amount of $53K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Eugene R Matthews Memorial Fund is led by Eugene Matthews, Trustee on every filing since 2023 — the only officer listed, and uncompensated.
Officers on the 2025 filing
Eugene Matthews
Trustee
On filings since 2023
No compensation reported
Former officers (1)
- Former: B Frank Matthews II (2021–2022) — Trustee
Data from IRS Form 990 filings, 2021–2025. "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 Eugene R Matthews Memorial Fund
How much does Eugene R Matthews Memorial Fund give each year?
Eugene R Matthews Memorial Fund gave $25K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $125K across 1 grant.
How large is Eugene R Matthews Memorial Fund?
Eugene R Matthews Memorial Fund reported $1.3M in total assets on its 2025 IRS Form 990-PF. It paid out $25K in qualifying distributions that year, against a required minimum of $53K (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 Eugene R Matthews Memorial Fund operate?
Eugene R Matthews Memorial Fund has awarded grants in North Carolina.
What is Eugene R Matthews Memorial Fund's EIN?
Eugene R Matthews Memorial Fund's EIN (Employer Identification Number) is 58-1580753. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
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