Millrace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in HOBE SOUND, FL. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $4.6M in total assets. In 2024, it awarded 24 grants totaling $195K. Net investment income was $147K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$4.6M
-1.0% YoY
Annual Giving
$195K
-23.5% YoY
Grant Count
24
+9.1% YoY
Avg Grant Size
$8K
-29.8% YoY
Under IRS private-foundation payout rules, Millrace Foundation reported a distributable amount of $237K for 2024 — the minimum it must pay out in qualifying distributions.
About Millrace Foundation
Based on IRS filings
Millrace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in HOBE SOUND, FL. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $4.6M in total assets. In 2024, it awarded 24 grants totaling $195K. Net investment income was $147K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2021 |
|---|---|---|---|
| Total Assets | $4,595,011 | $4,640,536 | $5,010,014 |
| Revenue | $183,729 | $-20,491 | $5,010,014 |
| Expenses | $229,254 | $277,799 | — |
| Qualifying Distributions | $195,200 | $255,000 | — |
| Net Investment Income | $146,591 | $99,411 | $14 |
| Distributable Amount | $237,493 | $216,393 | $6,309 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
46 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Evans Scholars Foundation ($25,000), Far Hills Country Day School ($20,000), The Hill School ($15,000).
| Recipient | Purpose | Amount |
|---|---|---|
| FAR HILLS COUNTRY DAY SCHOOL FAR HILLS, NJ | FUND FUTURE GROWTH OF ORGANIZATION | $20,000 |
| KENT PLACE SCHOOL SUMMIT, NJ | FUND FUTURE GROWTH OF ORGANIZATION | $10,000 |
| BRYANT UNIVERSITY SMITHFIELD, RI | FUND FUTURE GROWTH OF ORGANIZATION | $5,000 |
| CORNELL UNIVERSITY BOON, IA | FUND FUTURE GROWTH OF ORGANIZATION | $5,000 |
| TRINITY PAWLING SCHOOL PAWLING, NY | FUND FUTURE GROWTH OF ORGANIZATION | $5,000 |
| THE HILL SCHOOL POTTSTOWN, PA | FUND FUTURE GROWTH OF ORGANIZATION | $15,000 |
| ST SIMON BY THE SEA CHURCH MANTOLOKING, NJ | FUND FUTURE GROWTH OF ORGANIZATION | $10,000 |
| LIFE CAMP MORRISTOWN, NJ | FUND FUTURE GROWTH OF ORGANIZATION | $10,000 |
| SAVE BARNEGAT BAY TOM RIVER, NJ | FUND FUTURE GROWTH OF ORGANIZATION | $5,000 |
| DUCKS UNLIMITED INC WASHINGTON, DC | FUND FUTURE GROWTH OF ORGANIZATION | $2,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| C CORRELL DURLING | PRESIDENT | — | — |
| ELEANOR W DURLING | TRUSTEE | — | — |
| C CHAPIN DURLING | SECRETARY | — | — |
| PHILLIPS C DURLING | VICE PRESIDE | — | — |
| HENRY A DURLING | TREASURER | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Millrace Foundation?
Millrace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in HOBE SOUND, FL. It holds $4.6M in total assets as of 2024.
How large is Millrace Foundation?
As of 2024, Millrace Foundation holds $4.6M in total assets with $184K in annual revenue. It awarded 24 grants totaling $195K in 2024.
Where does Millrace Foundation operate?
Millrace Foundation has awarded grants in District of Columbia, Florida, Iowa, Illinois, New Jersey, New York, Pennsylvania, Rhode Island.
What size grants does Millrace Foundation award?
In 2024, Millrace Foundation awarded 24 grants totaling $195K — an average of about $8K per grant, based on its IRS Form 990 filings.
How much is Millrace Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Millrace Foundation reported a distributable amount of $237K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Millrace Foundation's EIN?
Millrace Foundation's EIN (Employer Identification Number) is 87-6629677. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in Millrace Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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