Michael and Karen Schley Foundation
Michael and Karen Schley Foundation is a private foundation, based in Raleigh, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $5.9M in total assets. In 2024, it awarded 8 grants totaling $286K. Net investment income was $153K.
Michael and Karen Schley Foundation at a glance
In short: Michael and Karen Schley Foundation gave $286K across 8 grants in 2024 (avg $36K), mostly in North Carolina. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $285,900
- +30.4% vs 2023
- Grants made (2024)
- 8
- +14.3% vs 2023
- Average grant
- $35,738
- +14.1% vs 2023
- Median grant
- $12,200
- Total assets
- $5,906,484
- -2.2% vs 2023
- Primary geography
- North Carolina (62% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Michael and Karen Schley Foundation funds
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
The largest 2024 recipient was NC Justice Center ($103K). Together the top 7 received $272K.
Organizations only. It also paid 1 individual scholarship ($14,400), which are not listed by name.
Grant Size Distribution
39 grants across all recorded years
The most common grant size was under $50K: 29 grants of 39 (74%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 8 itemized grants.
Cities
How Michael and Karen Schley Foundation gives
- Giving grew 95% from 2021 to 2024. Method
- In 2024 it paid out 85% 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 2020 to 2024, annual grant giving ranged from $147K (2021) to $286K (2024). In 2024 it made 8 grants totaling $286K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| NC Justice Center Raleigh, NC | To eliminte poverty in North Carolina by ensuring that every household in the state has access to the resources, services, and fair treatment it needs to achieve economic security. | $102,500 |
| Kongoni Network Community Based Organization | Improving computer and reading skills in kenya primary and secondary schools and for construction of the kongoni community library. | $80,000 |
| North Raleigh Ministries Inc Raleigh, NC | Provide emergency assistance to residents in north raleigh experiencing crisis and needing help with essential human needs. | $55,000 |
| 1 individual scholarship Recipients not named | — | $14,400 |
| Faith Ministry McAllen, TX | To build houses, sponsor children, meet spirtitual and medical needs, and provide a community of fellowship. | $10,000 |
| Hope College Holland, MI | Educating students for lives of leadership and service in a global society. | $10,000 |
| The Ifma Foundation Houston, TX | Promoting education for the facility management profession around the world and making fm a career of choice. | $10,000 |
| Saint Andrews Presbyterian Church Raleigh, NC | Joining together as a community to serve the most vulnerable. | $4,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $5,906,484 | $193,328 | $325,759 | $285,900 | 8 | $285,900 | $153,469 | $335,490 |
| 2023 | $6,039,148 | $4,088,327 | $244,500 | $219,300 | 7 | $219,300 | $63,493 | $208,165 |
| 2022 | $2,196,005 | $135,720 | $236,374 | $206,000 | 7 | $206,000 | $106,616 | $110,912 |
| 2021 | $2,296,659 | $152,131 | $166,608 | $146,500 | 6 | $146,500 | $132,023 | $133,327 |
| 2020 | $2,311,136 | $8,937 | $242,004 | $221,775 | 11 | — | $16,875 | $117,716 |
Under IRS private-foundation payout rules, Michael and Karen Schley Foundation reported a distributable amount of $335K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Michael and Karen Schley Foundation's 2024 filing lists 2 officers; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Karen Schley
Director
On filings since 2020
1 hr/week
No compensation reported
Michael Schley
Director
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Michael and Karen Schley Foundation
How much does Michael and Karen Schley Foundation give each year?
Michael and Karen Schley Foundation gave $286K across 8 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $219K across 7 grants.
What is Michael and Karen Schley Foundation's typical grant size?
Michael and Karen Schley Foundation's median grant in 2024 was $12,200, and its average grant was $35,738, across 8 grants on its 2024 IRS Form 990-PF.
Where does Michael and Karen Schley Foundation give grants?
Michael and Karen Schley Foundation gives mostly in North Carolina: 62% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Texas (7%). The most frequent recipient cities were Raleigh, NC (3 grants).
Does Michael and Karen Schley Foundation give general operating support?
Not in 2024: none of the 8 grants with a stated purpose on Michael and Karen Schley Foundation's 2024 IRS Form 990-PF were described as general or operating support.
Who are Michael and Karen Schley Foundation's largest grantees?
Michael and Karen Schley Foundation's largest 2024 grantees include NC Justice Center ($102,500), Kongoni Network Community Based Organization ($80,000) and North Raleigh Ministries Inc ($55,000), according to its 2024 IRS Form 990-PF. It also paid 1 individual scholarship ($14,400), which are not listed by name. Together they received 83% of its itemized 2024 grant dollars.
How large is Michael and Karen Schley Foundation?
Michael and Karen Schley Foundation reported $5.9M in total assets on its 2024 IRS Form 990-PF. It paid out $286K in qualifying distributions that year, against a required minimum of $335K (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 Michael and Karen Schley Foundation's EIN?
Michael and Karen Schley Foundation's EIN (Employer Identification Number) is 47-5393391. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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