Gravely Foundation Inc

ROCKY MOUNT, NC EIN: 56-6044106

Gravely Foundation Inc is a private foundation, based in ROCKY MOUNT, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $857K in total assets. In 2024, it awarded 3 grants totaling $44K. Net investment income was $80K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$857K

+3.9% YoY

Annual Giving

$44K

+43.0% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$15K

+43.0% YoY

Under IRS private-foundation payout rules, Gravely Foundation Inc reported a distributable amount of $50K for 2024 — the minimum it must pay out in qualifying distributions.

About Gravely Foundation Inc

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

North Carolina $166K (100%)

States

North Carolina

Cities

Rocky Mount

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$856,871	$824,418	$813,742
Revenue	$90,663	$53,561	$18,785
Expenses	$58,210	$42,885	$41,877
Qualifying Distributions	$46,887	$33,370	$31,845
Net Investment Income	$80,226	$44,243	$9,858
Distributable Amount	$50,067	$45,832	$45,994

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 3 recipients in 2024

Grant Size Distribution

15 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Nc Wesleyan College ($29,322), Edgecombe Community Colle ($7,500), Nash Community College ($7,500).

Recipient	Purpose	Amount
EDGECOMBE COMMUNITY COLLE ROCKY MOUNT, NC	EDUCATIONAL	$7,500
NASH COMMUNITY COLLEGE ROCKY MOUNT, NC	EDUCATIONAL	$7,500
NC WESLEYAN COLLEGE ROCKY MOUNT, NC	EDUCATIONAL	$29,322

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
J WINSTON LEA	TRUSTEE	—	—
JOW GRAVELY IV	TRUSTEE	—	—
JOHN W LEA JR	TRUSTEE	—	—

Frequently Asked Questions

How large is Gravely Foundation Inc?

As of 2024, Gravely Foundation Inc holds $857K in total assets with $91K in annual revenue. It awarded 3 grants totaling $44K in 2024.

Where does Gravely Foundation Inc operate?

Gravely Foundation Inc has awarded grants in North Carolina.

What size grants does Gravely Foundation Inc award?

In 2024, Gravely Foundation Inc awarded 3 grants totaling $44K — an average of about $15K per grant, based on its IRS Form 990 filings.

How much is Gravely Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Gravely Foundation Inc reported a distributable amount of $50K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.