Lift Foundation Inc
Lift Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Knoxville, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $228K in total assets. In 2024, it awarded 14 grants totaling $29K. Net investment income was $2K.
Key facts about Lift Foundation Inc
- EIN
- 26-0644407
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $28,638
- Grants made (2024)
- 14
- Average grant
- $2,046
- Median grant
- $500
- New grantees (estimate)
- 43% first-time grantees (6 of 14, 2024)
- Total assets
- $227,801
- Primary geography
- Tennessee (95% 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 Lift Foundation Inc funds
By grant dollars, the top recipient states for Lift Foundation Inc's 14 itemized 2024 grants were Tennessee (95%) and North Carolina (5%). The most frequent recipient cities were Johnson City, TN (6 grants) and Knoxville, TN (5 grants). 93% of grants with a stated purpose were for general or operating support.
Is Lift Foundation Inc open to new grantees?
43%
first-time grantees, 2024
In 2024, 6 of 14 grantees (43%) were first-time recipients. First grants averaged $1K; repeat grants $3K. How we count
Medians: $500 first-time, $275 repeat.
- 14% of 2024 grantees were also funded in 2023. Method
- Giving grew 42% from 2021 to 2024. Method
- In 2024 it paid out 242% of its IRS minimum distribution (the 5% rule). 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.
Next steps with Lift Foundation Inc
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$228K
-6.5% YoY
Annual Giving
$29K
+435.3% YoY
Grant Count
14
+100.0% YoY
Avg Grant Size
$2K
+167.6% YoY
Under IRS private-foundation payout rules, Lift Foundation Inc reported a distributable amount of $12K for 2024 — the minimum it must pay out in qualifying distributions.
About Lift Foundation Inc
Based on IRS filings
Lift Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Knoxville, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $228K in total assets. In 2024, it awarded 14 grants totaling $29K. Net investment income was $2K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 14 itemized 2024 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $227,801 | $243,587 | $218,567 |
| Revenue | $11,612 | $12,353 | $7,024 |
| Expenses | $33,537 | $10,109 | $26,844 |
| Qualifying Distributions | $28,638 | $5,350 | $21,360 |
| Net Investment Income | $1,690 | $1,696 | $1,540 |
| Distributable Amount | $11,837 | $11,192 | $12,386 |
Data update history
When this profile's IRS filing data changed on Grantable
- 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
60 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Lift Foundation Donor Advised Fund ($17,738), Knox Area Rescue Ministries ($5,000), Samaritan's Purse ($1,160).
| Recipient | Purpose | Amount |
|---|---|---|
| LIFT FOUNDATION DONOR ADVISED FUND Knoxville, TN | CONTRIBUTION TO DONOR ADVISED FUND | $17,738 |
| KNOX AREA RESCUE MINISTRIES Knoxville, TN | CONTRIBUTION TO GENERAL FUND | $5,000 |
| SAMARITAN'S PURSE Boone, NC | CONTRIBUTION TO GENERAL FUND | $1,160 |
| HERITAGE BAPTIST CHURCH Johnson City, TN | CONTRIBUTION TO GENERAL FUND | $1,000 |
| REDEEMER COMMUNITY CHURCH Knoxville, TN | CONTRIBUTION TO GENERAL FUND | $1,000 |
| THE RESTORATION HOUSE OF EAST TENNESSEE Knoxville, TN | CONTRIBUTION TO GENERAL FUND | $500 |
| YOUNG LIFE Johnson City, TN | CONTRIBUTION TO GENERAL FUND | $500 |
| STREET HOPE Powell, TN | CONTRIBUTION TO GENERAL FUND | $500 |
| BILLY GRAHAM EVANGELISTIC ASSOCIATION Charlotte, NC | CONTRIBUTION TO GENERAL FUND | $300 |
| EMMAUS COMMUNITY Johnson City, TN | CONTRIBUTION TO GENERAL FUND | $300 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Penny Sherwood | President | 2 | — |
| Larry Sherwood | Director | 2 | — |
| Stacey Hall | Director | 2 | — |
| Steve Sherwood | Director | 2 | — |
| Pam Sherwood | Director | 2 | — |
| Jeff Hall | Director | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Lift Foundation Inc?
Lift Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Knoxville, TN. It holds $228K in total assets as of 2024.
How large is Lift Foundation Inc?
As of 2024, Lift Foundation Inc holds $228K in total assets with $12K in annual revenue. It awarded 14 grants totaling $29K in 2024.
Where does Lift Foundation Inc operate?
Lift Foundation Inc has awarded grants in Arizona, Florida, Georgia, North Carolina, Ohio, Tennessee, Virginia, Washington.
What size grants does Lift Foundation Inc award?
In 2024, Lift Foundation Inc awarded 14 grants totaling $29K — an average of about $2K per grant, based on its IRS Form 990 filings.
How much is Lift Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Lift Foundation Inc reported a distributable amount of $12K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Lift Foundation Inc's EIN?
Lift Foundation Inc's EIN (Employer Identification Number) is 26-0644407. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.