Hollingsworth Funds Inc

Foundation · Grantmaker 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.

Key facts about Hollingsworth Funds Inc

EIN: 57-1003814
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $12,039,703
Grants made (2024): 56
Average grant: $214,995
Median grant: $75,000
New grantees (estimate): 18% first-time grantees (7 of 40, 2024)
Total assets: $406,730,156
Primary geography: South Carolina (99% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).

Who Hollingsworth Funds Inc funds

By grant dollars, the top recipient states for Hollingsworth Funds Inc's 56 itemized 2024 grants were South Carolina (99%). The most frequent recipient cities were Greenville, SC (51 grants). 66% of grants with a stated purpose were for general or operating support.

Is Hollingsworth Funds Inc open to new grantees?

18%

first-time grantees, 2024

In 2024, 7 of 40 grantees (18%) were first-time recipients. First grants averaged $111K; repeat grants $341K. How we count

Medians: $50K first-time, $81K repeat.

83% of 2024 grantees were also funded in 2023. Method
Giving grew 21% from 2021 to 2024. Method

Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

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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

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 $11.9M (99%)

Rhode Island $50K (0%)

California $50K (0%)

Share of all 56 itemized 2024 grant dollars.

States

California North Carolina Rhode Island South Carolina

Cities

GreenvilleColumbiaOaklandSimpsonvilleSlaterDurhamProvidence

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	—	—	—

Data update history

When this profile's IRS filing data changed on Grantable

March 1, 2026 IRS filings on file for fiscal years 2020–2024

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

261 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

Among its reported 2024 grants, the largest recipients include Furman University ($5,447,114), YMCA of Greenville ($1,298,964), United Way of Greenville County ($974,475 across 5 grants).

Recipient	Purpose	Amount
FURMAN UNIVERSITY Greenville, SC	GENERAL OPERATING SUPPORT	$5,447,114
YMCA OF GREENVILLE Greenville, SC	GENERAL OPERATING SUPPORT	$1,298,964
UNITED WAY OF GREENVILLE COUNTY Greenville, SC	GENERAL OPERATING SUPPORT FOR ONTRACK GREENVILLE	$500,000
COMMUNITY FOUNDATION OF GREENVILLE Greenville, SC	OPERATING SUPPORT FOR GREENVILLE CONNECTS	$375,000
GREENVILLE HOUSING FUND Greenville, SC	GENERAL OPERATING SUPPORT	$310,000
GREENVILLE HOUSING AUTHORITY Greenville, SC	GENERAL OPERATING SUPPORT	$250,000
UNITED WAY OF GREENVILLE COUNTY Greenville, SC	GREENVILLE COUNTY COMMUNITY RELIEF FUND	$250,000
COMMUNITYWORKS CAROLINA Greenville, SC	GENERAL OPERATING SUPPORT	$200,000
COMMUNITY FOUNDATION OF GREENVILLE Greenville, SC	PROJECT SUPPORT FOR PHASE TWO OF SUNSET PLAN	$192,150
HISPANIC ALLIANCE Greenville, SC	GENERAL OPERATING SUPPORT	$150,000

Leadership & Key People

Leadership team and compensation from IRS filings

Gage Weekes — President & CEO

Compensation Overview

From 2024 IRS 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.

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does Hollingsworth Funds Inc fund?

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 eco…

How do I apply for a grant from Hollingsworth Funds Inc?

**Grant Amounts & Distribution:** 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. **Recent Grant Activity:** According to the most recent available data (2024): • Total giving: $12,044,703 • A cash grant of $5,447,114 was…

Where does Hollingsworth Funds Inc make grants?

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