Joseph W Craft III Foundation
The Joseph W Craft III Foundation is a private foundation based in Tulsa, Oklahoma. It makes gifts to charitable organizations and does not operate a charitable, educational, or religious facility or institution.
Joseph W Craft III Foundation at a glance
In short: Joseph W Craft III Foundation gave $7.2M across 20 grants in 2024 (avg $362K), mostly in Kentucky. 30% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $7,238,756
- +6.0% vs 2023
- Grants made (2024)
- 20
- +25.0% vs 2023
- Average grant
- $361,938
- -15.2% vs 2023
- Median grant
- $125,000
- Total assets
- $146,153,975
- +12.7% vs 2023
- New grantees (estimate)
- 30% first-time grantees (6 of 20, 2024; small sample)
- Primary geography
- Kentucky (79% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Joseph W Craft III Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation does not accept unsolicited requests for funds. Its filing directs readers to the statement for line 2a for information about forms and materials, deadlines, and award restrictions.
- Contact
Mailing address: 1717 S Boulder Ave Ste 400, Tulsa, OK 74119
Phone: (918) 295-7665
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
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was MSU Foundation ($1.3M). Together the top 10 received $6.8M.
Grant Size Distribution
113 grants across all recorded years
The most common grant size was under $50K: 46 grants of 113 (41%).
Geographic Focus
Where this funder awards grants
In 2024, 79% of grant dollars went to recipients in Kentucky and 15% to recipients in Oklahoma. The remaining reported shares went to recipients in Washington, DC (4%), Texas (1%), and New York (0%).
Grant Distribution by State
Share of 2024 grant dollars across all 20 itemized grants.
Cities
Is Joseph W Craft III Foundation open to new grantees?
30%
first-time grantees, 2024
In 2024, 6 of 20 grantees (30%) were first-time recipients. With only 20 grantees, that is a small sample: one grantee more or less moves the share by about 5 points. First grants averaged $430K; repeat grants $333K. How we count
Medians: $234K first-time, $80K repeat.
- 60% of 2024 grantees were also funded in 2023. Method
- Giving grew 35% from 2021 to 2024. Method
- In 2024 it paid out 94% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $3.2M (2020) to $7.2M (2024). In 2024 it made 20 grants totaling $7.2M.
Grants by year
Grant recipients and amounts by year
| 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 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $146,153,975 | $30,417,393 | $12,810,467 | $7,238,756 | 20 | $7,605,756 | $11,477,024 | $8,089,019 |
| 2023 | $129,727,384 | $23,470,885 | $12,775,797 | $6,826,078 | 16 | $6,953,561 | $8,818,161 | $7,344,365 |
| 2022 | $122,082,052 | $22,976,192 | $12,757,962 | $5,121,563 | 23 | $5,121,563 | $14,826,202 | $6,828,672 |
| 2021 | $111,776,138 | $19,434,208 | $11,776,699 | $5,357,359 | 32 | $5,357,359 | $5,766,040 | $5,317,582 |
| 2020 | $104,051,210 | $5,548,954 | $8,647,793 | $3,226,476 | 22 | — | — | $5,177,824 |
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.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation does not state a mission in the provided filing information. Its 2024 grants included support for higher education, regional economic and community development, affordable housing, youth services, music, and other charitable activities.
Among its grantees, Morehead State University Foundation describes its mission as providing “margin of excellence” funding to help Morehead State University reach its goals. Alice Lloyd College says it educates mountain people for leadership and makes college accessible to qualified mountain students regardless of their financial situation. Foundation for Appalachian Kentucky describes its work as fostering community collaboration and charitable giving and building endowments to improve quality of life in eastern Kentucky. Red River Economic Development says it promotes economic, cultural, and social development in the Red River Gorge area.
Housing Development Alliance describes its work as establishing affordable housing for low-income residents in four Kentucky counties through housing, repairs, energy-efficiency retrofits, and homeownership units. Tulsa Area United Way says it unites people and resources to improve lives and strengthen communities. The Church Studio Music Foundation says it supports music and offers post-secondary audio-engineering programs.
Grantmaking
In 2024, the foundation reported 20 grants totaling $7,238,756. Grant amounts ranged from $1,095 to $1,320,000, with a median grant of $125,000.
The largest reported grants included $1,320,000 to MSU Foundation, $1,312,500 to SOAR Shaping Our Appalachian Region, $1,000,000 to Alice Lloyd College, $925,000 to Foundation for Appalachian Kentucky, and $702,861 to Boys and Girls Club. Other substantial grants included $520,000 to Red River Economic Development, $317,800 to Housing Development Alliance, and $300,000 to Government Accountability Oversight.
Leadership & Key People
Leadership team and compensation from IRS filings
Joseph W. Craft III was listed as a trustee on the 2024 filing.
Joseph W Craft III Foundation is led by Joseph W. Craft III, Trustee on every filing since 2020 — the only officer listed, and uncompensated.
Officers on the 2024 filing
Joseph W. Craft III
Trustee
On filings since 2020
2 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "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 Joseph W Craft III Foundation
How much does Joseph W Craft III Foundation give each year?
Joseph W Craft III Foundation gave $7.2M across 20 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $6.8M across 16 grants.
What is Joseph W Craft III Foundation's typical grant size?
Joseph W Craft III Foundation's median grant in 2024 was $125,000, and its average grant was $361,938, across 20 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Joseph W Craft III Foundation that year got $430K on average.
Where does Joseph W Craft III Foundation give grants?
Joseph W Craft III Foundation gives mostly in Kentucky: 79% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was 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).
Does Joseph W Craft III Foundation give general operating support?
Not in 2024: none of the 20 grants with a stated purpose on Joseph W Craft III Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Charitable" (20 grants).
Who are Joseph W Craft III Foundation's largest grantees?
Joseph W Craft III Foundation's largest 2024 grantees include MSU Foundation ($1,320,000), Soar Shaping Our Appalachian Region ($1,312,500) and Alice Lloyd College ($1,000,000), according to its 2024 IRS Form 990-PF. Together they received 50% of its itemized 2024 grant dollars.
How large is Joseph W Craft III Foundation?
Joseph W Craft III Foundation reported $146.2M in total assets on its 2024 IRS Form 990-PF. It paid out $7.6M in qualifying distributions that year, against a required minimum of $8.1M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Joseph W Craft III Foundation fund?
The foundation does not state a mission in the provided filing information. Its 2024 grants included support for higher education, regional economic and community development, affordable housing, youth services, music, and other charitable activities. See mission & focus areas ↑
How do I apply for a grant from Joseph W Craft III Foundation?
The foundation does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
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. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Joseph W Craft III Foundation funder profile. GrantGraph. Retrieved October 15, 2026, from https://grantable.co/funders/joseph-w-craft-iii-foundation-morg_839399b0ceb74eb7b49f4409c6b8b0f4
BibTeX
@misc{grantable_731514539_2026,
author = {{Grantable}},
title = {{Joseph W Craft III Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/joseph-w-craft-iii-foundation-morg_839399b0ceb74eb7b49f4409c6b8b0f4},
note = {Accessed 2026-10-15. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Joseph W Craft III Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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