First Citizens Foundation Inc Co First

RALEIGH, NC EIN: 57-1108547

First Citizens Foundation is a private foundation based in Raleigh, North Carolina. The foundation was established in 2002 and operates as a 501(c)(3) organization dedicated to philanthropic giving across multiple sectors.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$12.4M

+0.9% YoY

Annual Giving

$668K

-11.9% YoY

Grant Count

-15.9% YoY

Avg Grant Size

$18K

+4.8% YoY

Under IRS private-foundation payout rules, First Citizens Foundation Inc Co First reported a distributable amount of $702K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation's grant-making priorities include:

Education
Philanthropy, Voluntarism & Grantmaking
Human Services
Science and STEM Education
Arts

Grantmaking

The foundation does not currently list live grant opportunities.

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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

South Carolina $2.6M (69%)

North Carolina $1.1M (28%)

Virginia $50K (1%)

California $25K (1%)

Michigan $25K (1%)

Massachusetts $8K (0%)

States

California Massachusetts Michigan North Carolina South Carolina Virginia

Cities

AlexandriaAndersonBlufftonCamdenCaryCharlestonCherawChesterClemsonColumbiaConwayDillonDorchesterEastoverEdgefieldFlorenceFort LawnGeorgetownGoose CreekGreenville

Financial History

Multi-year comparison from IRS filings

As of Most Recent Filing (2023):

Total assets: $12,268,718
Total giving: $758,667

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$12,384,864	$12,268,718	$13,014,023
Revenue	$872,092	$97,872	$-315,294
Expenses	$761,614	$836,876	$928,746
Qualifying Distributions	$668,333	$758,667	$773,733
Net Investment Income	$786,818	$352,979	$268,586
Distributable Amount	$702,198	$644,358	$667,588

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

189 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include North Carolina Museum of Art Inc ($250,000), Heathwood Hall ($33,333), Columbia Musem of Art ($25,000).

Recipient	Purpose	Amount
BEST NC Cary, NC	GENERAL PURPOSE	$15,000
VISION TO LEARN LOS ANGELES, CA	GENERAL PURPOSE	$5,000
RICHLAND LIBRARY FRIENDS AND FOUNDATION COLUMBIA, SC	GENERAL PURPOSE	$10,000
CAMP HAPPY DAYS INC Charleston, SC	GENERAL PURPOSE	$4,000
THE OUTREACH FARM Pawleys Island, SC	GENERAL PURPOSE	$10,000
HOUSE OF HOPE OF THE PEE DEE Florence, SC	GENERAL PURPOSE	$10,000
BUILDING FLORENCE TOGETHER COMMUNITY Florence, SC	GENERAL PURPOSE	$7,500
CARE HOUSE OF THE PEE DEE INC Florence, SC	GENERAL PURPOSE	$5,000
COLUMBIA MUSEM OF ART Columbia, SC	GENERAL PURPOSE	$25,000
YMCA OF COSTAL CAROLINA Myrtle Beach, SC	GENERAL PURPOSE	$10,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
FRANK B HOLDING JR	CHAIRMAN	1	—
PETER BRISTOW	DIRECTOR	1	—

Recent News & Activity

Recent developments and announcements

First Citizens Foundation has made grants supporting various community initiatives. Recent grant recipients have included organizations focused on education, community development, and youth services across the Southeast, including institutions such as Craven Community College and Boys & Girls Clubs.

First Citizens awards Charles City area grants

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does First Citizens Foundation Inc Co First fund?

The foundation's grant-making priorities include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services • Science and STEM Education • Arts

How do I apply for a grant from First Citizens Foundation Inc Co First?

**Grant Amounts:** • Typical awards range from $2,500 to $250,000 • Average and median grant amounts are not specified in available data **Financial Activity:** • Total assets: $12,268,718 • Total annual giving: $758,667 The foundation does not currently list live grant opportunities.

Where does First Citizens Foundation Inc Co First make grants?

The foundation primarily funds organizations in: • North Carolina • South Carolina • Virginia

What size grants does First Citizens Foundation Inc Co First award?

In 2024, First Citizens Foundation Inc Co First awarded 37 grants totaling $668K — an average of about $18K per grant, based on its IRS Form 990 filings.

How much is First Citizens Foundation Inc Co First required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, First Citizens Foundation Inc Co First reported a distributable amount of $702K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is First Citizens Foundation Inc Co First's EIN?

First Citizens Foundation Inc Co First's EIN (Employer Identification Number) is 57-1108547. IRS Form 990 filing data is available on this page for 2020–2024.