Lipscomb Family Foundation
The Lipscomb Family Foundation is a private foundation based in Minneapolis, Minnesota. Its primary mission is to encourage the positive development of youth, with grant eligibility centered on organizations serving young people under 19 in the South Carolina Midlands.
Lipscomb Family Foundation at a glance
In short: Lipscomb Family Foundation gave $772K across 49 grants in 2024 (avg $16K), mostly in South Carolina. 22% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $772,300
- +17.9% vs 2023
- Grants made (2024)
- 49
- -15.5% vs 2023
- Average grant
- $15,761
- +39.5% vs 2023
- Median grant
- $10,000
- Total assets
- $14,129,332
- +6.5% vs 2023
- New grantees (estimate)
- 22% first-time grantees (11 of 49, 2024)
- Primary geography
- South Carolina (59% 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 Lipscomb Family Foundation
- How to Apply
-
The website instructs organizations to email the executive director to receive an application form and arrange a discussion about the proposal. The filing says the application should include the organization and project details, a project abstract, a board-of-directors list, an organizational chart, and an IRS determination letter. The website says the foundation typically makes one grant per year to an organization and does not provide grants to individuals or individual scholarships.
- Review Cycle
- The website lists January 28 and August 31, 2026, with electronic submissions due by 5 p.m. Both dates have passed; no later deadline is specified.
- Deadline
- The website lists January 28 and August 31, 2026, with electronic submissions due by 5 p.m.
- Contact
Application contact: Margaret Foster
Mailing address: 5108 W 74Th Street Box 390024, Minneapolis, MN 55439
Phone: (803) 765-4567
Website: https://lipscombfoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Lipscomb Family Foundation
Who Lipscomb Family Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Community Fndtn of Western NC ($203K). Together the top 10 received $385K.
Grant Size Distribution
290 grants across all recorded years
The most common grant size was under $50K: 285 grants of 290 (98%).
Geographic Focus
Where this funder awards grants
The website identifies Calhoun, Fairfield, Kershaw, Lexington, Orangeburg, Richland, Saluda, and Sumter counties as its South Carolina Midlands/Columbia-area focus. It says the foundation occasionally supports statewide South Carolina education efforts if they affect youth residing in the Midlands.
The 2024 filing also shows grants to recipients outside South Carolina: 59% of grant dollars went to South Carolina recipients, 33% to North Carolina, 3% to Georgia, 2% to Colorado, and 1% to Louisiana.
Grant Distribution by State
Share of 2024 grant dollars across all 49 itemized grants.
States
Cities
Is Lipscomb Family Foundation open to new grantees?
22%
first-time grantees, 2024
In 2024, 11 of 49 grantees (22%) were first-time recipients. First grants averaged $28K; repeat grants $12K. How we count
Medians: $12K first-time, $10K repeat.
- 71% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+0%). Method
- In 2024 it paid out 120% of its IRS minimum distribution (the 5% rule). 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 $655K (2023) to $775K (2021). In 2024 it made 49 grants totaling $772K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Community Fndtn of Western NC Asheville, NC | Operating Support | $203,100 |
| Bounty & Soul Black Mountain, NC | Operating Support | $30,000 |
| Educational Advisory Foundation Atlanta, GA | Operating Support | $25,000 |
| Homeless No More Columbia, SC | Operating Support | $25,000 |
| Young Life Columbia, SC | Operating Support | $20,000 |
| Sistercare Cayce, SC | Operating Support | $18,000 |
| USC Educational Foundation Columbia, SC | Operating Support | $18,000 |
| SC First Steps to School Readiness Columbia, SC | Operating Support | $16,000 |
| Camp Happy Days Charleston, SC | Operating Support | $15,000 |
| Columbia Museum of Art Columbia, SC | Operating Support | $15,000 |
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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 | $14,129,332 | $1,895,299 | $1,144,653 | $772,300 | 49 | $962,024 | $1,712,670 | $804,829 |
| 2023 | $13,263,554 | $828,588 | $996,901 | $655,250 | 58 | $842,905 | $674,592 | $741,938 |
| 2022 | $13,331,525 | $247,093 | $1,072,294 | $683,670 | 60 | $858,949 | $164,552 | $787,914 |
| 2021 | $14,165,344 | $2,460,596 | $1,095,815 | $775,000 | 65 | $928,044 | $2,309,534 | $830,687 |
| 2020 | $12,828,464 | $683,433 | $944,418 | $664,958 | 58 | — | $556,332 | $731,008 |
Under IRS private-foundation payout rules, Lipscomb Family Foundation reported a distributable amount of $805K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation supports youth development, including educational opportunities and positive growth. Its website says it funds 501(c)(3) organizations supporting youth under 19 who reside in specified South Carolina counties.
Its 2024 grantees illustrate a range of activities. Bounty & Soul describes its work as connecting people through nutritious food, education, and community. The Therapy Place says it provides therapies and recreational opportunities for children with special needs, as well as resources for their caregivers. Camp Happy Days describes year-round recreational and therapeutic programs for children with cancer and their families. These are grantees’ stated missions, not additional foundation focus areas.
Grantmaking
In 2024, the foundation reported 49 grants totaling $772,300. Grant amounts ranged from $4,000 to $203,100, with a median of $10,000. Its largest listed grant was $203,100 to the Community Foundation of Western North Carolina for operating support. Other notable grants included $30,000 to Bounty & Soul; $25,000 each to Educational Advisory Foundation and Homeless No More; and $20,000 to Young Life. The listed grants were for operating support.
Leadership & Key People
Leadership team and compensation from IRS filings
Margaret Foster is identified as the foundation’s executive director.
Lipscomb Family Foundation is led by Guy Tracy, President since 2024 (on filings since 2020); all 10 officers listed in 2024 are compensated.
Officers on the 2024 filing
Guy Tracy
President
Trustee → Secretary, 2021
Secretary → President, 2024
On filings since 2020
2 hrs/week
$3K (2020) → $5K (2024)
Margaret Foster
Executive Director
On filings since 2020
40 hrs/week
$116K (2020) → $126K (2024)
Elizabeth L. Tracy
Trustee
On filings since 2020
2 hrs/week
$3K (2020) → $5K (2024)
Georgia L. Cheek
Trustee
Trustee → Treasurer, 2021
Treasurer → Trustee, 2024
On filings since 2020
2 hrs/week
$3K (2020) → $5K (2024)
Marshall Foster
Trustee
President → Trustee, 2024
On filings since 2020
2 hrs/week
$3K (2020) → $5K (2024)
Savannah Tracy
Trustee
Trustee → Secretary, 2022
Secretary → Trustee, 2024
On filings since 2020
2 hrs/week
$3K (2020) → $5K (2024)
Ben Cheek
Trustee
On filings since 2021
2 hrs/week
$3K (2021) → $5K (2024)
Christopher Cheek
Treasurer
Secretary → Vice President, 2021
Vice President → Treasurer, 2024
On filings since 2020
2 hrs/week
$3K (2020) → $5K (2024)
Kristen Tufts
Secretary
Trustee → Secretary, 2024
On filings since 2020
2 hrs/week
$3K (2020) → $5K (2024)
Louise L. Howell
Vice President
Vice President → Trustee, 2021
Trustee → Vice President, 2024
On filings since 2020
2 hrs/week
$3K (2020) → $5K (2024)
Former officers (2)
- Former: Charlie Mather (2020–2023) — Trustee
- Former: Austin Howell (2021–2022) — Trustee
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.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $126K, to Margaret Foster (Executive Director). 10 officers or directors reported compensation on that filing.
Frequently asked questions about Lipscomb Family Foundation
How much does Lipscomb Family Foundation give each year?
Lipscomb Family Foundation gave $772K across 49 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $655K across 58 grants.
What is Lipscomb Family Foundation's typical grant size?
Lipscomb Family Foundation's median grant in 2024 was $10,000, and its average grant was $15,761, across 49 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Lipscomb Family Foundation that year got $28K on average.
Where does Lipscomb Family Foundation give grants?
Lipscomb Family Foundation gives mostly in South Carolina: 59% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was North Carolina (33%). The most frequent recipient cities were Columbia, SC (25 grants), Greenville, SC (3 grants), Asheville, NC (2 grants) and Charleston, SC (2 grants).
Does Lipscomb Family Foundation give general operating support?
Yes: 100% of Lipscomb Family Foundation's 2024 grants with a stated purpose (49 of 49) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Lipscomb Family Foundation's largest grantees?
Lipscomb Family Foundation's largest 2024 grantees include Community Fndtn of Western NC ($203,100), Bounty & Soul ($30,000) and Educational Advisory Foundation ($25,000), according to its 2024 IRS Form 990-PF. Together they received 33% of its itemized 2024 grant dollars.
How large is Lipscomb Family Foundation?
Lipscomb Family Foundation reported $14.1M in total assets on its 2024 IRS Form 990-PF. It paid out $962K in qualifying distributions that year, against a required minimum of $805K (roughly 5% of its investment assets).
What does Lipscomb Family Foundation fund?
The foundation supports youth development, including educational opportunities and positive growth. Its website says it funds 501(c)(3) organizations supporting youth under 19 who reside in specified South Carolina counties. See mission & focus areas ↑
How do I apply for a grant from Lipscomb Family Foundation?
The website instructs organizations to email the executive director to receive an application form and arrange a discussion about the proposal. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Lipscomb Family Foundation's EIN?
Lipscomb Family Foundation's EIN (Employer Identification Number) is 58-1368915. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 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). Lipscomb Family Foundation funder profile. GrantGraph. Retrieved October 15, 2026, from https://grantable.co/funders/lipscomb-family-foundation-morg_c0525af5f03b4df49a1f9c8ae491e68a
BibTeX
@misc{grantable_581368915_2026,
author = {{Grantable}},
title = {{Lipscomb Family Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/lipscomb-family-foundation-morg_c0525af5f03b4df49a1f9c8ae491e68a},
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 Lipscomb Family 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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