Mary K Fassett Memorial Trust
Mary K Fassett Memorial Trust is a private foundation, based in Dallas, TX. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $1.1M in total assets. In 2025, it awarded 2 grants totaling $58K. Net investment income was $108K.
Mary K Fassett Memorial Trust at a glance
In short: Mary K Fassett Memorial Trust gave $58K across 2 grants in 2025 (avg $29K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $58,400
- +7.1% vs 2024
- Grants made (2025)
- 2
- +0.0% vs 2024
- Average grant
- $29,200
- +7.1% vs 2024
- Median grant
- $29,200
- Total assets
- $1,059,541
- +4.5% vs 2024
- Primary geography
- North Carolina (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Mary K Fassett Memorial Trust funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was Wake Forest University ($29K). Together the top 2 received $58K.
Grant Size Distribution
10 grants across all recorded years
The most common grant size was under $50K: 10 grants of 10 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
States
Cities
How Mary K Fassett Memorial Trust gives
- Giving held roughly steady from 2022 to 2025 (−4%). Method
- In 2025 it paid out 99% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $41K (2023) to $61K (2022). In 2025 it made 2 grants totaling $58K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Wake Forest University Winston-Salem, NC | Unrestricted General | $29,200 |
| Oxford Orphanage Oxford, NC | Unrestricted General | $29,200 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2025 | $1,059,541 | $112,934 | $67,794 | $58,400 | 2 | $60,753 | $107,640 | $61,608 |
| 2024 | $1,014,114 | $103,118 | $62,362 | $54,524 | 2 | $56,749 | $97,096 | $57,626 |
| 2023 | $974,424 | $32,522 | $47,480 | $41,110 | 2 | $43,122 | $25,139 | $52,253 |
| 2022 | $989,808 | $-22,425 | $71,311 | $60,922 | 2 | $62,992 | $15,965 | $53,364 |
| 2021 | $1,083,512 | $226,607 | $62,741 | $53,202 | 2 | $55,481 | $220,559 | $59,455 |
| 2020 | $918,397 | $76,219 | $59,112 | $52,746 | 2 | — | $72,175 | $50,737 |
| 2019 | $901,420 | $54,114 | $49,529 | $42,020 | 2 | — | $53,104 | $48,957 |
Under IRS private-foundation payout rules, Mary K Fassett Memorial Trust reported a distributable amount of $62K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Mary K Fassett Memorial Trust's only listed officer is Bank Of America, Trustee on every filing since 2021 (compensated).
Officers on the 2025 filing
Bank Of America
Trustee
On filings since 2021
1 hr/week
$5K (2021) → $5K (2025)
Former officers (1)
- Former: Bank Of America N A (2019–2020) — Trustee
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $5K, to Bank of America (Trustee).
Frequently asked questions about Mary K Fassett Memorial Trust
How much does Mary K Fassett Memorial Trust give each year?
Mary K Fassett Memorial Trust gave $58K across 2 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $55K across 2 grants.
How large is Mary K Fassett Memorial Trust?
Mary K Fassett Memorial Trust reported $1.1M in total assets on its 2025 IRS Form 990-PF. It paid out $61K in qualifying distributions that year, against a required minimum of $62K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does Mary K Fassett Memorial Trust operate?
Mary K Fassett Memorial Trust has awarded grants in North Carolina.
What is Mary K Fassett Memorial Trust's EIN?
Mary K Fassett Memorial Trust's EIN (Employer Identification Number) is 56-6037917. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS April 23, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS April 28, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS April 19, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS April 26, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 30, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS April 10, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 21, 2026)
- IRS filings on file for fiscal years 2019–2025
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