Kates Foundation Inc

ASHEVILLE, NC EIN: 65-0401513

Education Agriculture fishing and forestry Human services Youth development

Kates Foundation Inc is a private foundation focused on Education, based in ASHEVILLE, NC. IRS filing data is available from 2020 through 2023. In 2023, it awarded 13 grants totaling $1.4M. Net investment income was $59K.

Financial Overview

From 2023 IRS Form 990-PF · View filing

Total Assets

—

-100.0% YoY

Annual Giving

$1.4M

+1027.7% YoY

Grant Count

+30.0% YoY

Avg Grant Size

$105K

+767.4% YoY

Under IRS private-foundation payout rules, Kates Foundation Inc reported a distributable amount of $92K for 2023 — the minimum it must pay out in qualifying distributions.

About Kates Foundation Inc

Based on IRS filings

Focus Areas

Education Agriculture fishing and forestry Human services Youth development

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Massachusetts $1.2M (71%)

North Carolina $346K (21%)

Florida $141K (8%)

District of Columbia $8K (0%)

Illinois $500 (0%)

States

District of Columbia Florida Illinois Massachusetts North Carolina

Cities

AshevilleBostonBradentonBrevardChicagoCullowheeSarasotaWashington

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2023	2022	2021
Total Assets	—	$1,326,449	$1,434,527
Revenue	$60,731	$35,913	$174,562
Expenses	$1,386,880	$143,991	$122,612
Qualifying Distributions	$1,385,014	$124,625	$103,161
Net Investment Income	$59,100	$31,348	$155,483
Distributable Amount	$91,945	$110,842	$124,701

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 2023

Grant Size Distribution

39 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2023 grants, the largest include Bank of America Charitable Gift Fund ($1,183,567), Ashville Jewish Community Center ($50,000), Vecinos ($40,000).

Recipient	Purpose	Amount
ASHVILLE JEWISH COMMUNITY CENTER ASHEVILLE, NC	GENERAL	$50,000
CONGREGATION BETH HATEPHILA SISTERHOOD ASHEVILLE, NC	GENERAL	$5,000
HELPMATE INC ASHEVILLE, NC	GENERAL	$10,010
HOMEWARD BOUND ASHEVILLE, NC	GENERAL	$10,563
LITERACY TOGETHER ASHEVILLE, NC	GENERAL	$5,000
MANNA FOODBANK ASHEVILLE, NC	FOOD DRIVE	$10,000
MY DADDY TAUGHT ME THAT ASHEVILLE, NC	GENERAL	$5,000
OPEN DOORS ASHEVILLE ASHEVILLE, NC	GENERAL	$5,010
HELPING AT RISK KIDS (HARK) ASHEVILLE, NC	GENERAL	$6,250
PISGAH LEGAL SERVICES ASHEVILLE, NC	GENERAL	$7,840

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2023 IRS filing

From 2023 filing

Name	Title	Hours	Compensation
MENA LISA KATES	PRESIDENT/TREASURER	10	—
CHRISTOPHER QUINTERO	OFFICER	2	—
HANNAH B KATES	VICE-PRESIDENT	2	—
RICHARD LABRIE JUNIOR	VICE-CHAIRMAN & SECRETARY	2	—

Subject Areas

Focus areas based on grantmaking activity

Education Agriculture fishing and forestry Human services Youth development

Frequently Asked Questions

What is Kates Foundation Inc?

Kates Foundation Inc is a private foundation focused on Education, based in ASHEVILLE, NC. It holds — in total assets as of 2023.

Where does Kates Foundation Inc operate?

Kates Foundation Inc has awarded grants in District of Columbia, Florida, Illinois, Massachusetts, North Carolina.

What size grants does Kates Foundation Inc award?

In 2023, Kates Foundation Inc awarded 13 grants totaling $1.4M — an average of about $105K per grant, based on its IRS Form 990 filings.

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

Private foundations must generally distribute about 5% of their assets annually. For 2023, Kates Foundation Inc reported a distributable amount of $92K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.