Mary K Fassett Memorial Trust

DALLAS, TX EIN: 56-6037917

Mary K Fassett Memorial Trust is a private foundation, based in DALLAS, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.0M in total assets. In 2024, it awarded 2 grants totaling $55K. Net investment income was $97K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$1.0M

+4.1% YoY

Annual Giving

$55K

+32.6% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$27K

+32.6% YoY

Under IRS private-foundation payout rules, Mary K Fassett Memorial Trust reported a distributable amount of $58K for 2024 — the minimum it must pay out in qualifying distributions.

About Mary K Fassett Memorial Trust

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

North Carolina $263K (100%)

States

North Carolina

Cities

OxfordWinston Salem

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$1,014,114	$974,424	$989,808
Revenue	$103,118	$32,522	$-22,425
Expenses	$62,362	$47,480	$71,311
Qualifying Distributions	$56,749	$43,122	$62,992
Net Investment Income	$97,096	$25,139	$15,965
Distributable Amount	$57,626	$52,253	$53,364

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2024

Grant Size Distribution

10 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Wake Forest University ($27,262), Oxford Orphanage ($27,262).

Recipient	Purpose	Amount
WAKE FOREST UNIVERSITY WINSTON SALEM, NC	UNRESTRICTED GENERAL	$27,262
OXFORD ORPHANAGE OXFORD, NC	UNRESTRICTED GENERAL	$27,262

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
BANK OF AMERICA	TRUSTEE	1	$4,761

Frequently Asked Questions

How large is Mary K Fassett Memorial Trust?

As of 2024, Mary K Fassett Memorial Trust holds $1.0M in total assets with $103K in annual revenue. It awarded 2 grants totaling $55K in 2024.

Where does Mary K Fassett Memorial Trust operate?

Mary K Fassett Memorial Trust has awarded grants in North Carolina.

What size grants does Mary K Fassett Memorial Trust award?

In 2024, Mary K Fassett Memorial Trust awarded 2 grants totaling $55K — an average of about $27K per grant, based on its IRS Form 990 filings.

How much is Mary K Fassett Memorial Trust required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Mary K Fassett Memorial Trust reported a distributable amount of $58K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.