Lipscomb Family Foundation
The Lipscomb Family Foundation is a private independent foundation established to support youth development initiatives. Based in Minneapolis, Minnesota, the foundation operates as a 501(c)(3) organization with tax-exempt status since October 1979.
Key facts about Lipscomb Family Foundation
- EIN
- 58-1368915
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $772,300
- Grants made (2024)
- 49
- Average grant
- $15,761
- Median grant
- $10,000
- New grantees (estimate)
- 27% first-time grantees (13 of 49, 2024)
- Total assets
- $14,129,332
- Primary geography
- South Carolina (59% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated June 2026. New grantees are estimated by matching recipient names across years (methodology).
Who Lipscomb Family Foundation funds
By grant dollars, the top recipient states for Lipscomb Family Foundation's 49 itemized 2024 grants were South Carolina (59%) and 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). 100% of grants with a stated purpose were for general or operating support.
Is Lipscomb Family Foundation open to new grantees?
27%
first-time grantees, 2024
In 2024, 13 of 49 grantees (27%) were first-time recipients. First grants averaged $26K; repeat grants $12K. How we count
Medians: $12K first-time, $10K repeat.
- 67% 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 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 Lipscomb Family Foundation
- How to evaluate Lipscomb Family Foundation as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$14.1M
+6.5% YoY
Annual Giving
$772K
+17.9% YoY
Grant Count
49
-15.5% YoY
Avg Grant Size
$16K
+39.5% YoY
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.
Mission & Focus Areas
The foundation's primary mission is to encourage and foster the positive development of youth. Margaret and Guy Lipscomb established the foundation to support efforts that help young people grow into inquisitive, creative, educated, ambitious, productive, loving, caring, generous, truthful, trustworthy, moral, energetic, self-reliant, and healthy adults. The foundation believes that development of these character qualities strengthens family relationships and lays firm foundations for the next generation of Americans.
The foundation primarily funds operational support for organizations aligned with its youth development mission.
Grantmaking
The foundation made approximately 36 additional grants in 2024 totaling $402,800.
Grant Range
$10,000
Average Grant
$11,400
Ready to take the next step with Lipscomb Family Foundation?
Geographic Focus
Where this funder awards grants
The foundation makes grants primarily in the South Carolina Midlands/Columbia area, specifically in Calhoun, Fairfield, Kershaw, Lexington, Orangeburg, Richland, Saluda, and Sumter counties. Occasionally, the foundation has supported statewide education efforts in South Carolina if they impact youth residing in the Midlands.
Grant Distribution by State
Share of all 49 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total Assets: $14,129,332
- Total Revenue: $1,895,299
- Total Expenses: $1,144,653
- Total Liabilities: $10,000
- Number of Employees: 1
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $14,129,332 | $13,263,554 | $13,331,525 |
| Revenue | $1,895,299 | $828,588 | $247,093 |
| Expenses | $1,144,653 | $996,901 | $1,072,294 |
| Qualifying Distributions | $962,024 | $842,905 | $858,949 |
| Net Investment Income | $1,712,670 | $674,592 | $164,552 |
| Distributable Amount | $804,829 | $741,938 | $787,914 |
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
290 grants across all recorded years
Open Grants
1 open opportunity from Lipscomb Family Foundation
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Community Fndtn of Western NC ($203,100), Bounty & Soul ($30,000), Educational Advisory Foundation ($25,000).
| 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 |
Leadership & Key People
Leadership team and compensation from IRS filings
Margaret Foster - Executive Director
- Compensation: $126,000 (2024)
- Contact: 803-765-4567, Margaret@LipscombFoundation.org
Marshall Foster - President
Christopher Cheek - Vice President
Savannah Tracy - Secretary
Compensation Overview
From 2022 IRS filing
From 2022 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Marshall Foster | President | 2 | $5,000 |
| Christopher Cheek | Vice President | 2 | $5,000 |
| Savannah Tracy | Secretary | 2 | — |
| Georgia L Cheek | Treasurer | 2 | $5,000 |
| Louise L Howell | Trustee | 2 | $5,000 |
| Elizabeth L Tracy | Trustee | 2 | $5,000 |
| Austin Howell | Trustee | 2 | $2,000 |
| Ben Cheek | Trustee | 2 | $4,000 |
| Charlie Mather | Trustee | 2 | $5,000 |
| Margaret Foster | Executive Director | 40 | $120,000 |
Contact Information
Address: 5108 W 74th Street, Box #390024 Minneapolis, MN 55439-2300
Phone: 803-765-4567
Email: Margaret@LipscombFoundation.org
EIN: 58-1368915
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Lipscomb Family Foundation fund?
The foundation's primary mission is to encourage and foster the positive development of youth. Margaret and Guy Lipscomb established the foundation to support efforts that help young people grow into inquisitive, creative, educated, ambitious, productive, loving, caring, generous, truthful, trustworthy, moral, energetic, self-reliant, and healthy adults. The foundation believes that development of these character qualities strengthens family relationships and lays firm foundations for the next …
How do I apply for a grant from Lipscomb Family Foundation?
**Grant Activity:** • Made 58 grants in 2024 • Total giving: $683,700 (based on recent data) • Median grant size: $10,000 • Average grant size: $11,400 **Recent Grants (2024):** • Educational Advisory Foundation: $25,000 • Homeless No More: $25,000 • Sistercare: $18,000 • Community Foundation of Western NC: grant amount not specified The foundation made approximately 36 additional grants in 2024 totaling $402,800.
Where does Lipscomb Family Foundation make grants?
The foundation makes grants primarily in the South Carolina Midlands/Columbia area, specifically in Calhoun, Fairfield, Kershaw, Lexington, Orangeburg, Richland, Saluda, and Sumter counties. Occasionally, the foundation has supported statewide education efforts in South Carolina if they impact youth residing in the Midlands.
What size grants does Lipscomb Family Foundation award?
In 2024, Lipscomb Family Foundation awarded 49 grants totaling $772K — an average of about $16K per grant, based on its IRS Form 990 filings.
How much is Lipscomb Family Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Lipscomb Family Foundation reported a distributable amount of $805K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.