Gravely Foundation Inc
Gravely Foundation Inc is a private foundation, based in Rocky Mount, NC. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $888K in total assets. In 2025, it awarded 3 grants totaling $50K. Net investment income was $86K.
Gravely Foundation Inc at a glance
In short: Gravely Foundation Inc gave $50K across 3 grants in 2025 (avg $17K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $50,000
- +12.8% vs 2024
- Grants made (2025)
- 3
- +0.0% vs 2024
- Average grant
- $16,667
- +12.8% vs 2024
- Median grant
- $7,500
- Total assets
- $888,493
- +3.7% 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 Gravely Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was NC Wesleyan College ($35K). Together the top 3 received $50K.
Grant Size Distribution
15 grants across all recorded years
The most common grant size was under $50K: 15 grants of 15 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
States
Cities
How Gravely Foundation Inc gives
- Giving grew 67% from 2022 to 2025. Method
- In 2025 it paid out 101% of its IRS minimum distribution (the 5% rule). 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 2019 to 2025, annual grant giving ranged from $30K (2021) to $50K (2025). In 2025 it made 3 grants totaling $50K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| NC Wesleyan College Rocky Mount, NC | Educational | $35,000 |
| Edgecombe Community Colle Rocky Mount, NC | Educational | $7,500 |
| Nash Community College Rocky Mount, NC | Educational | $7,500 |
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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 | $888,493 | $97,120 | $65,498 | $50,000 | 3 | $52,720 | $86,355 | $52,100 |
| 2024 | $856,871 | $90,663 | $58,210 | $44,322 | 3 | $46,887 | $80,226 | $50,067 |
| 2023 | $824,418 | $53,561 | $42,885 | $31,000 | 3 | $33,370 | $44,243 | $45,832 |
| 2022 | $813,742 | $18,785 | $41,877 | $30,000 | 3 | $31,845 | $9,858 | $45,994 |
| 2021 | $836,834 | $71,674 | $46,900 | $30,000 | 3 | $34,608 | $59,798 | $48,347 |
| 2020 | $812,060 | $22,948 | $46,537 | $31,000 | 3 | — | $12,680 | $43,046 |
| 2019 | $835,649 | $87,096 | $46,021 | $36,000 | 3 | — | $80,987 | $41,468 |
Under IRS private-foundation payout rules, Gravely Foundation Inc reported a distributable amount of $52K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Gravely Foundation Inc's 2025 filing lists 3 officers; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
J. Winston Lea
Trustee
On filings since 2019
No compensation reported
Jow Gravely IV
Trustee
On filings since 2019
No compensation reported
John W. Lea Jr.
Trustee
On filings since 2023
No compensation reported
Former officers (1)
- Former: Cynthia Cope (2019–2022) — Trustee
Data from IRS Form 990 filings, 2019–2025. "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 Gravely Foundation Inc
How much does Gravely Foundation Inc give each year?
Gravely Foundation Inc gave $50K across 3 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $44K across 3 grants.
What is Gravely Foundation Inc's typical grant size?
Gravely Foundation Inc's median grant in 2025 was $7,500, and its average grant was $16,667, across 3 grants on its 2025 IRS Form 990-PF.
Where does Gravely Foundation Inc give grants?
Gravely Foundation Inc gives mostly in North Carolina: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Rocky Mount, NC (3 grants).
Does Gravely Foundation Inc give general operating support?
Not in 2025: none of the 3 grants with a stated purpose on Gravely Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Educational" (3 grants).
How large is Gravely Foundation Inc?
Gravely Foundation Inc reported $888K in total assets on its 2025 IRS Form 990-PF. It paid out $53K in qualifying distributions that year, against a required minimum of $52K (roughly 5% of its investment assets).
What is Gravely Foundation Inc's EIN?
Gravely Foundation Inc's EIN (Employer Identification Number) is 56-6044106. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 26, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 24, 2026)
- IRS filings on file for fiscal years 2020–2024
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