Joseph W Craft Iii Foundation
The Joseph W. Craft III Foundation is a private independent foundation established in 1996 and tax-exempt since June 1997. Based in Tulsa, Oklahoma, the foundation is a non-operating private foundation that makes grants to preselected charitable organizations rather than operating its own programs or facilities.
Key facts about Joseph W Craft Iii Foundation
- EIN
- 73-1514539
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $7,238,756
- Grants made (2024)
- 20
- Average grant
- $361,938
- Median grant
- $125,000
- Total assets
- $146,153,975
- Primary geography
- Kentucky (79% of itemized 2024 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation does not accept unsolicited requests for funds.
Data from IRS Form 990-PF, 2024; updated June 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Joseph W Craft Iii Foundation funds
By grant dollars, the top recipient states for Joseph W Craft Iii Foundation's 20 itemized 2024 grants were Kentucky (79%) and Oklahoma (15%). The most frequent recipient cities were Tulsa, OK (4 grants), Pikeville, KY (2 grants), Hazard, KY (2 grants) and Lexington, KY (2 grants). None of its 20 grants with a stated purpose were described as general or operating support. Recurring purposes include "Charitable" (20 grants).
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$146.2M
+12.7% YoY
Annual Giving
$7.2M
+6.0% YoY
Grant Count
20
+25.0% YoY
Avg Grant Size
$362K
-15.2% YoY
Under IRS private-foundation payout rules, Joseph W Craft Iii Foundation reported a distributable amount of $8.1M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation gives primarily for:
- Education: Including higher education institutions
- Free Enterprise Initiatives: Support for institutions and programs that promote economic freedom and free enterprise principles
- Community Development: Support for organizations in Kentucky and Oklahoma
- Healthcare: Contributions to healthcare facilities and initiatives
- United Way: Regular support for United Way organizations
The foundation's philanthropic approach reflects founder Joseph Craft III's commitment to individual responsibility, economic freedom, reducing poverty, and providing opportunities for those pursuing the American dream.
Grantmaking
Grant Range
**: $10,000 to $7.5 million
Invitation Only
**: The foundation does not accept unsolicited requests for funds. Grantmaking is by invitation only.
Ready to take the next step with Joseph W Craft Iii Foundation?
Geographic Focus
Where this funder awards grants
National focus with emphasis on Kentucky and Oklahoma.
Grant Distribution by State
Share of all 20 itemized 2024 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $146.2 million
- Total Revenue: $30.4 million
- Total Expenses: $12.8 million
- Total Liabilities: $0
As of 2023:
- Total Assets: $129.7 million
- Total Revenue: $23.5 million
- Total Expenses: $12.8 million
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $146,153,975 | $129,727,384 | $122,082,052 |
| Revenue | $30,417,393 | $23,470,885 | $22,976,192 |
| Expenses | $12,810,467 | $12,775,797 | $12,757,962 |
| Qualifying Distributions | $7,605,756 | $6,953,561 | $5,121,563 |
| Net Investment Income | $11,477,024 | $8,818,161 | $14,826,202 |
| Distributable Amount | $8,089,019 | $7,344,365 | $6,828,672 |
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
113 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Msu Foundation ($1,320,000), Soar Shaping Our Appalachian Region ($1,312,500), Alice Lloyd College ($1,000,000).
| Recipient | Purpose | Amount |
|---|---|---|
| MSU FOUNDATION MOREHEAD, KY | CHARITABLE | $1,320,000 |
| SOAR SHAPING OUR APPALACHIAN REGION PIKEVILLE, KY | CHARITABLE | $1,312,500 |
| ALICE LLOYD COLLEGE PIPPA PASSES, KY | CHARITABLE | $1,000,000 |
| FOUNDATION FOR APPALACHIAN KENTUCKY HAZARD, KY | CHARITABLE | $925,000 |
| BOYS AND GIRLS CLUB TULSA, OK | CHARITABLE | $702,861 |
| RED RIVER ECONOMIC DEVELOPMENT LEXINGTON, KY | CHARITABLE | $520,000 |
| HOUSING DEVELOPMENT ALLIANCE HAZARD, KY | CHARITABLE | $317,800 |
| GOVERNMENT ACCOUNTABILITY OVERSIGHT WASHINGTON DC, DC | CHARITABLE | $300,000 |
| FRIENDS OF AMERICAN SONG ARCHIVES I TULSA, OK | CHARITABLE | $250,000 |
| SALVATION ARMY OF LEXINGTON LEXINGTON, KY | CHARITABLE | $150,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Joseph Craft III serves as Chairman, President and CEO of Alliance Resource Partners LP. He took The Giving Pledge in May 2013, committing to give the vast majority of his resources to philanthropic causes.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOSEPH W CRAFT III | Trustee | 2 | — |
Recent News & Activity
Recent developments and announcements
The foundation has made significant grants to educational institutions, including:
A $2 million grant to the University of Louisville's Center for Free Enterprise to fund research and faculty positions
$2M grant by Craft Foundation will fund research, faculty at UofL ...A $60 million gift to the University of Mississippi's Croft Institute
$60 Million Gift Launched Croft Institute onto Global Stage - UniversityA $1 million grant to advance the Margaret Ann Crigler Park Project in Mississippi
Community Foundation for Mississippi Awards $1M Grant to Advance MargaretA grant to Empowerment Academy
Empowerment Academy receives grant from Joseph W. Craft III Foundation |Contact Information
Address: 1717 S Boulder Ave Ste 400, Tulsa, OK 74119-4833
Phone: 918-295-7665
EIN: 73-1514539
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Joseph W Craft Iii Foundation fund?
The foundation gives primarily for: • **Education**: Including higher education institutions • **Free Enterprise Initiatives**: Support for institutions and programs that promote economic freedom and free enterprise principles • **Community Development**: Support for organizations in Kentucky and Oklahoma • **Healthcare**: Contributions to healthcare facilities and initiatives • **United Way**: Regular support for United Way organizations The foundation's philanthropic approach reflects founder…
How do I apply for a grant from Joseph W Craft Iii Foundation?
**Grant Range**: $10,000 to $7.5 million **Annual Giving**: $7.6 million (2024) **Recent Grant Activity**: • 16 awards in 2023 • 23 awards in 2022 • 32 awards in 2021 **Recent Notable Grants** (2023): • Alice Lloyd College: $2,500,000 • Foundation For Appalachian Kentucky: $1,675,000 • Morehead State University Foundation: $950,000 **Application Process**: The foundation does not accept unsolicited requests for funds. Grantmaking is by invitation only.
Where does Joseph W Craft Iii Foundation make grants?
National focus with emphasis on Kentucky and Oklahoma.
What size grants does Joseph W Craft Iii Foundation award?
In 2024, Joseph W Craft Iii Foundation awarded 20 grants totaling $7.2M — an average of about $362K per grant, based on its IRS Form 990 filings.
How much is Joseph W Craft Iii Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Joseph W Craft Iii Foundation reported a distributable amount of $8.1M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Joseph W Craft Iii Foundation's EIN?
Joseph W Craft Iii Foundation's EIN (Employer Identification Number) is 73-1514539. IRS Form 990 filing data is available on this page for 2020–2024.
Does Joseph W Craft Iii Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. The foundation does not accept unsolicited requests for funds.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.