Merrill I & Grace Hanks Charitable Tr
Merrill I & Grace Hanks Charitable Tr is a private foundation focused on Education, based in Mobile, AL. IRS filing data is available from 2021 through 2026. As of 2026, the organization holds $3.1M in total assets. In 2026, it awarded 2 grants totaling $243K. Net investment income was $149K.
Merrill I & Grace Hanks Charitable Tr at a glance
In short: Merrill I & Grace Hanks Charitable Tr gave $243K across 2 grants in 2026 (avg $121K), mostly in Alabama. Source: 2026 IRS Form 990-PF.
- Annual giving (2026)
- $242,581
- +16.3% vs 2025
- Grants made (2026)
- 2
- +0.0% vs 2025
- Average grant
- $121,291
- +16.3% vs 2025
- Median grant
- $121,291
- Total assets
- $3,139,846
- -4.5% vs 2025
- Primary geography
- Alabama (100% of itemized 2026 grant dollars)
- Latest 990 filing
- Form 990-PF, 2026 View filing
Data from IRS Form 990-PF, 2026; updated September 2026.
Who Merrill I & Grace Hanks Charitable Tr funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2026
The largest 2026 recipient was Alabama Baptist Children's Home ($222K). Together the top 2 received $243K.
Grant Size Distribution
10 grants across all recorded years
The most common grant size was under $50K: 5 grants of 10 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2026 grant dollars across all 2 itemized grants.
States
Cities
How Merrill I & Grace Hanks Charitable Tr gives
- Giving held roughly steady from 2023 to 2026 (+6%). Method
- In 2026 it paid out 94% 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 2021 to 2026, annual grant giving ranged from $198K (2024) to $243K (2026). In 2026 it made 2 grants totaling $243K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Alabama Baptist Children's Home Birmingham, AL | To provide housing for underpriviliged children in a christian setting. | $221,679 |
| University of Mobile Mobile, AL | To provide scholarships to students at the university of mobile. | $20,902 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2026 | $3,139,846 | $168,104 | $318,771 | $242,581 | 2 | $295,836 | $148,548 | $313,282 |
| 2025 | $3,288,629 | $215,907 | $277,962 | $208,527 | 2 | $259,335 | $197,280 | $293,389 |
| 2024 | $3,350,747 | $114,470 | $265,122 | $197,997 | 2 | $243,469 | $97,614 | $253,999 |
| 2023 | $3,503,017 | $266,320 | $294,343 | $228,961 | 2 | $273,827 | $250,145 | $242,863 |
| 2022 | $3,535,791 | $170,580 | $276,243 | $210,756 | 2 | $259,311 | $152,996 | $278,452 |
| 2021 | $3,645,879 | $178,733 | $258,837 | $198,821 | 2 | — | $163,816 | $250,792 |
Under IRS private-foundation payout rules, Merrill I & Grace Hanks Charitable Tr reported a distributable amount of $313K for 2026 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Merrill I & Grace Hanks Charitable Tr's only listed officer is Regions Bank, Trustee on every filing since 2021 (compensated).
Officers on the 2026 filing
Regions Bank
Trustee
On filings since 2021
3 hrs/week
$51K (2021) → $69K (2026)
Data from IRS Form 990 filings, 2021–2026. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2026 IRS filing
The highest reported compensation on the 2026 filing was $69K, to Regions Bank (Trustee).
Frequently asked questions about Merrill I & Grace Hanks Charitable Tr
How much does Merrill I & Grace Hanks Charitable Tr give each year?
Merrill I & Grace Hanks Charitable Tr gave $243K across 2 grants in 2026, according to its 2026 IRS Form 990-PF. In 2025 it gave $209K across 2 grants.
How large is Merrill I & Grace Hanks Charitable Tr?
Merrill I & Grace Hanks Charitable Tr reported $3.1M in total assets on its 2026 IRS Form 990-PF. It paid out $296K in qualifying distributions that year, against a required minimum of $313K (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.
What is Merrill I & Grace Hanks Charitable Tr?
Merrill I & Grace Hanks Charitable Tr is a private foundation focused on Education, based in Mobile, AL. It holds $3.1M in total assets as of 2026.
Where does Merrill I & Grace Hanks Charitable Tr operate?
Merrill I & Grace Hanks Charitable Tr has awarded grants in Alabama.
What is Merrill I & Grace Hanks Charitable Tr's EIN?
Merrill I & Grace Hanks Charitable Tr's EIN (Employer Identification Number) is 61-6394207. IRS Form 990 filing data is available on this page for 2021–2026.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2026 (received by the IRS June 8, 2026)
- IRS filings on file for fiscal years 2021–2025
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