George Foundation Inc
George Foundation Inc is a corporate foundation based in Hickory, North Carolina, established in 1980. The foundation is affiliated with Alex Lee Inc and operates as a 501(c)(3) organization. It functions as a grantmaking entity supporting educational and community development initiatives.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$18.2M
-4.0% YoY
Annual Giving
$1.6M
+19.0% YoY
Grant Count
60
+5.3% YoY
Avg Grant Size
$27K
+13.0% YoY
Under IRS private-foundation payout rules, George Foundation Inc reported a distributable amount of $1.1M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's primary purpose is to further the exempt purpose of its parent organization through philanthropic giving. Key funding areas include:
- Education
- Higher education
- Community and economic development
- Human services
- Basic and emergency aid
- Food aid
Grantmaking
The foundation is open to new applicants, with approximately 12% of new applicants receiving funding.
Grant Range
$89 (based on available data)
Average Grant
$89 (based on available data)
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Geographic Focus
Where this funder awards grants
The foundation supports projects across multiple states including:
- North Carolina
- South Carolina
- Georgia
- Minnesota
- Washington D.C.
Primary focus areas include Hickory, North Carolina and the surrounding Catawba Valley region.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending November 2024:
- Total Assets: $18.2 million
- Total Revenue: $994,410
- Total Expenses: $1.75 million
- Total Liabilities: $0
- Investment Income and Dividends: $336,545
Prior Year (FY 2023):
- Total Assets: $18.9 million
- Total Grants, Contributions: $1.6 million
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $18,177,873 | $18,934,438 | $19,129,433 |
| Revenue | $994,410 | $2,726,551 | $5,745,974 |
| Expenses | $1,747,562 | $1,472,451 | $2,024,399 |
| Qualifying Distributions | $1,602,330 | $1,347,000 | $1,875,000 |
| Net Investment Income | $861,148 | $1,001,323 | $4,344,717 |
| Distributable Amount | $1,099,216 | $908,557 | $876,010 |
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 Catawba Valley Community College Foundation Inc ($150,000), American National Red Cross ($120,000), Second Harvest Food Bank of Northwest North Carolina Inc ($110,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN HEART ASSOCIATION INC CHARLOTTE, NC | GENERAL SUPPORT | $5,000 |
| AMERICAN NATIONAL RED CROSS GREENSBORO, NC | GENERAL SUPPORT | $120,000 |
| ASHURE MINISTRY INC (FORMERLY ECCCM) NEWTON, NC | GENERAL SUPPORT | $5,000 |
| BOOKMARKS WINSTONSALEM, NC | GENERAL SUPPORT | $5,000 |
| BOYS AND GIRLS CLUBS OF THE PEE DEE AREA INC FLORENCE, SC | GENERAL SUPPORT | $5,000 |
| BURKE ARTS COUNCIL INC MORGANTON, NC | GENERAL SUPPORT | $2,000 |
| BURKE COUNTY UNITED WAY MORGANTON, NC | GENERAL SUPPORT | $1,000 |
| CALDWELL COUNTY UNITED FUND LENOIR, NC | GENERAL SUPPORT | $10,000 |
| CALDWELL MEMORIAL HOSPITAL FOUNDATION INC LENOIR, NC | GENERAL SUPPORT | $25,000 |
| CAROLINA CARING FOUNDATION INC NEWTON, NC | GENERAL SUPPORT | $30,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Key personnel serving without compensation:
- Boyd L. George – Chairman
- Kimberly D. George – President
- Joyce George Corbett – Director
- Frederick D. McClure – Director
- John B. Orgain – Secretary
The foundation is led by a volunteer board with zero employees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BOYD L GEORGE | CHAIRMAN | — | — |
| JOYCE GEORGE CORBETT | DIRECTOR | — | — |
| FREDERICK D MCCLURE | DIRECTOR | — | — |
| JOHN B ORGAIN | SECRETARY | — | — |
| KIMBERLY D GEORGE | PRESIDENT | — | — |
Contact Information
Address: PO Box 800, Hickory, NC 28603-0800
Phone: 828-725-4479
EIN: 56-1282417
Frequently Asked Questions
What does George Foundation Inc fund?
The foundation's primary purpose is to further the exempt purpose of its parent organization through philanthropic giving. Key funding areas include: • Education • Higher education • Community and economic development • Human services • Basic and emergency aid • Food aid
How do I apply for a grant from George Foundation Inc?
**Grant Activity:** • Made 57 grants in the most recent fiscal year • Total grants awarded: approximately $1.3 million annually • Average grant size: $89 (based on available data) **Recent Grant Examples (FY 2024):** • Young Mens Christian Association of Catawba Valley: $150,000 (General Support) • Catawba Valley Community College Foundation: $150,000 (General Support) • MANNA Food Bank: $100,000 (General Support) • Hickory Day School Inc: $50,000 (General Support) **Application Status:** The f…
Where does George Foundation Inc make grants?
The foundation supports projects across multiple states including: • North Carolina • South Carolina • Georgia • Minnesota • Washington D.C. Primary focus areas include Hickory, North Carolina and the surrounding Catawba Valley region.
What size grants does George Foundation Inc award?
In 2024, George Foundation Inc awarded 60 grants totaling $1.6M — an average of about $27K per grant, based on its IRS Form 990 filings.
How much is George Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, George Foundation Inc reported a distributable amount of $1.1M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is George Foundation Inc's EIN?
George Foundation Inc's EIN (Employer Identification Number) is 56-1282417. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in George 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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