Hollingsworth Funds Inc

GREENVILLE, SC EIN: 57-1003814 Website

Hollingsworth Funds Inc. is a philanthropic foundation based in Greenville, South Carolina, established to support charitable causes in the Greenville County area. The organization was created by the late textile industrialist John D. Hollingsworth Jr., who built a 5,000-employee textile machinery company operating across 18 countries. Upon his death on December 30, 2000, Hollingsworth bequeathed the bulk of his self-made textile and real estate fortune to the foundation, valued at approximately $275–$290 million. The foundation has spent the past 25 years investing in community development, with particular emphasis on reshaping the I-85 corridor through real estate initiatives and advancing economic mobility and affordable housing.

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$406.7M

+3.2% YoY

Annual Giving

$12.0M

+5.1% YoY

Grant Count

+1.8% YoY

Avg Grant Size

$215K

+3.2% YoY

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

Mission & Focus Areas

Hollingsworth Funds' overarching mission is to ensure "a vibrant, just & inclusive Greenville where equitable opportunities exist for all to advance & thrive." For 25 years, the organization has focused on turning land into legacy by investing in people, place, and economic mobility for all.

The foundation recognizes that while Greenville is one of the fastest-growing communities in the Southeast, not everyone has benefited equally from this growth. Greenville has one of the lowest rates of economic mobility in the country, and the foundation aims to align opportunity rates with growth rates for all residents.

Primary Focus Areas:

Prepare for College & Career
Attain a Post-Secondary Credential
Access & Advance in the Workplace
Access Affordable Housing
Access Reliable & Efficient Transportation
Build Capacity & Infrastructure

The foundation prioritizes strengthening pathways that lead to career opportunities paying a living wage, with particular emphasis on Black and Hispanic/Latinx people in low-income neighborhoods.

Grantmaking

Hollingsworth Funds distributes substantial annual grants. In 2014, the organization distributed $6,646,980 to 52 nonprofit organizations, representing a 7.9 percent increase from the previous year and marking the largest annual gift in the organization's history at that time. Typical award ranges are $10,000 to $5,447,114.

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Geographic Focus

Where this funder awards grants

Greenville County, South Carolina, with emphasis on low-income neighborhoods. The foundation also makes grants in South Carolina, Rhode Island, and California.

Grant Distribution by State

South Carolina $48.8M (99%)

California $250K (1%)

North Carolina $110K (0%)

Rhode Island $100K (0%)

States

California North Carolina Rhode Island South Carolina

Cities

ColumbiaDurhamGreenvilleOaklandProvidenceSimpsonvilleSlater

Financial History

Multi-year comparison from IRS filings

As of 2024:

Total Assets: $406,730,156
Total Revenues: $18,619,297
Total Expenses: $17,878,851
Number of Employees: 8

Historical Context:

The foundation's initial capital came primarily from 42,000 acres of predominantly raw, undeveloped land inherited from John D. Hollingsworth Jr.'s estate. Unlike traditional foundations with readily available cash, Hollingsworth Funds' early board was tasked with divesting key land parcels to raise capital for the endowment to generate grants.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$406,730,156	$394,202,076	$375,756,696
Revenue	$18,619,297	$10,530,144	$12,829,828
Expenses	$17,878,851	$16,157,579	$14,906,078
Qualifying Distributions	—	—	—
Net Investment Income	$16,058,362	$8,174,051	$9,744,299
Distributable Amount	—	—	—

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

248 grants across all recorded years

Open Grants

1 open opportunity from Hollingsworth Funds Inc

Foundation

Hollingsworth Funds Grant

HOLLINGSWORTH FUNDS INC

Amount

US $15,000 - US $500,000

Deadline

Rolling / Open

Giving History

Grant recipients and amounts by year

No grants recorded for .

Leadership & Key People

Leadership team and compensation from IRS filings

Gage Weekes — President & CEO

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
MINOR M SHAW	DIRECTOR	2	$5,000
WILLIAM E HENDERSON	DIRECTOR	5	$5,000
SAM ERWIN	VICE CHAIR	2	$5,000
ANTHONY MCDADE	BOARD CHAIR	3	$5,000
ANNE S ELLEFSON	DIRECTOR	2	$5,000
BRENDA THAMES	DIRECTOR	2	$5,000
R SEAN DOGAN	DIRECTOR	2	$5,000
TIMOTHY J REED	DIRECTOR	2	$5,000
JOANN HACKL	SECRETARY	3	$5,000
F BOGUE WALLIN	DIRECTOR	2	$5,000
RUSS DAVIS	DIRECTOR	2	$5,000
GREG INGRAM	DIRECTOR	2	$5,000
B GAGE WEEKES	PRESIDENT	40	$394,680
PAMELA PRASHAD	VP OF FINANCE & OPERATIONS	35	$172,536
TAMELA SPANN	VP OF STRATEGIC INITIATIVE	40	$180,460

Recent News & Activity

Recent developments and announcements

Hollingsworth Funds celebrated its 25th anniversary with the launch of an updated website detailing key moments and milestones achieved over the decades. The organization has been instrumental in reshaping the I-85 corridor through real estate development and spearheading initiatives in affordable housing and economic mobility.

Hollingsworth Funds: 25 years of impact on Greenville County

The foundation maintains a Four-Star rating for accountability and financial management, reflecting strong organizational governance and transparency.