MCS Charitable Foundation is a private grantmaking foundation established in memory of Mary Carol Sheets Gregory (1949–2022), who passed away in May 2022. The foundation honors her legacy of exceptional generosity and operates as a 501(c)(3) organization with tax-exempt status since May 2024. Based administratively in Paradise Valley, Arizona, with operational offices in San Antonio, Texas, the foundation maintains a significant asset base and distributes grants to preselected charitable organizations aligned with the founder's core values.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$157.9M
+3.9% YoY
Annual Giving
$7.1M
+32.0% YoY
Grant Count
2
+0.0% YoY
Avg Grant Size
$3.6M
+32.0% YoY
Mission & Focus Areas
The foundation's mission centers on honoring Mary Carol Sheets Gregory's lifetime commitment to philanthropy. Primary funding areas include:
- Animal welfare
- Veteran support
- Educational organizations
The foundation operates through trustee discretion, making grants to preselected organizations that align with these core mission areas. The foundation does not operate formal grant programs with published guidelines and maintains a committed approach to multi-year partnerships with selected beneficiaries.
Grantmaking
Grant Range
s:** Grant amounts vary significantly. Recent examples include awards ranging from $125,000 to $7 million, with typical awards in the $3,000–$150,000 range. Median grant amounts have been reported at $2.7 million based on recent filings.
How to Apply
** The foundation does not accept unsolicited applications. Grants are made exclusively to preselected charitable organizations at the discretion of trustees.
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Geographic Focus
Where this funder awards grants
The foundation primarily focuses on Arizona and Texas, with particular emphasis on the San Antonio area.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets:
- $157.9 million (2024)
- $152 million (2023)
- $147 million (reported in tax year 2023)
Annual Giving & Distributions:
- $7.1 million (2024)
- $5.4 million (2023)
- $968,000 (2020)
Revenue & Expenses (2023):
- Total revenues: $24.6 million
- Total expenses: $11.7 million
- Total liabilities: $11,100
Investment Income: $3.5 million (2023)
The foundation ranks in the top 1% of U.S. foundations by asset size (rank #1,208 of 159,550).
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $157,876,384 | $151,977,413 | $139,074,356 |
| Revenue | $19,006,027 | $24,594,291 | $123,465,384 |
| Expenses | $13,120,385 | $11,669,994 | $6,290,965 |
| Qualifying Distributions | $7,131,131 | $5,401,050 | $1,124,906 |
| Net Investment Income | $10,439,805 | $7,157,298 | $9,517,891 |
| Distributable Amount | $7,471,679 | $7,100,346 | $5,409,955 |
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
72 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Jan Jumet – Trustee (40 hours/week; compensation $300,000–$325,000 annually)
- Julie Jumet – Staff member
- Sarah Saenz – Staff member
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JAN JUMET | TRUSTEE | 40 | $325,000 |
Recent News & Activity
Recent developments and announcements
The foundation has been actively engaged in grant distribution to community organizations. Recent announcements indicate grants totaling $1.2 million distributed to 15 community groups. The foundation has also established partnerships with organizations such as Scottsdale's Hunkapi Programs, demonstrating ongoing commitment to its mission areas across Arizona and Texas.
MCS Foundation grants $1.2M to 15 community groupsSubject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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