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
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
No grants recorded for .
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
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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