Monaghan Foundation Inc

Foundation · Grantmaker Sheldon, SC EIN: 46-0691137

Monaghan Foundation Inc is a private independent foundation designated as a 501(c)(3) organization, located in Sheldon, South Carolina. The foundation has been tax-exempt since March 2013. It operates as a grantmaking foundation with no employees.

Key facts about Monaghan Foundation Inc

EIN: 46-0691137
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $485,800
Grants made (2024): 7
Average grant: $69,400
Median grant: $4,500
Primary geography: Rhode Island (92% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated June 2026.

Who Monaghan Foundation Inc funds

By grant dollars, the top recipient states for Monaghan Foundation Inc's 7 itemized 2024 grants were Rhode Island (92%). 100% of grants with a stated purpose were for general or operating support.

How Monaghan Foundation Inc gives

Giving held roughly steady from 2021 to 2024 (+17%). Method

From the foundation's IRS Form 990-PF filings. Methodology.

Next steps with Monaghan Foundation Inc

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

—

Annual Giving

$486K

+9.2% YoY

Grant Count

-78.8% YoY

Avg Grant Size

$69K

+414.7% YoY

Research compiled by Grantable AI from public sources. Last updated April 2026.

Grantmaking

The foundation is an active grantmaker that distributed $485,800 in grants in its most recent fiscal year (2024). In 2023, the foundation made 36 grants totaling $273,250.

Grant Range

$4,500

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Geographic Focus

Where this funder awards grants

The foundation primarily funds organizations in South Carolina, Rhode Island, and New York.

Grant Distribution by State

Rhode Island $449K (92%)

North Carolina $20K (4%)

South Carolina $14K (3%)

New York $3K (1%)

Share of all 7 itemized 2024 grant dollars.

States

Alabama California Colorado Connecticut District of Columbia Delaware Florida Georgia Kansas Massachusetts Montana North Carolina New York Pennsylvania Rhode Island South Carolina Tennessee Utah Virginia

Cities

New YorkBeaufortSan FranciscoWashingtonBlufftonSeabrookWarwickAtlantaBethlehemBloomfieldBostonDenverDoverGilbertLawrencevilleMcLeanNew HavenPalmettoPalo AltoStudio City

Financial History

Multi-year comparison from IRS filings

As of December 2024:

Total Assets: $9.7 million
Total Distributions: $486,000

As of December 2023:

Total Assets: $6.48 million
Total Revenues: $134,130
Total Expenses: $455,630
Total Liabilities: $0
Investment Income and Dividends: $138,015

As of December 2022:

Investment Income and Dividends: $133,318

The foundation's revenue is primarily derived from investment income and dividends rather than contributions.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	—	—	—
Revenue	—	—	—
Expenses	—	—	—
Qualifying Distributions	—	—	—
Net Investment Income	—	—	—
Distributable Amount	—	—	—

Data update history

When this profile's IRS filing data changed on Grantable

March 1, 2026 IRS filings on file for fiscal years 2019–2024

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 7 recipients in 2024

Grant Size Distribution

153 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Vanguard Charitable ($449,000), Elk River Helping Hands ($20,000), Springhill Ame Church ($5,000).

Recipient	Purpose	Amount
VANGUARD CHARITABLE Warwick, RI	GENERAL OPERATIONS	$449,000
ELK RIVER HELPING HANDS Banner Elk, NC	GENERAL OPERATIONS	$20,000
SPRINGHILL AME CHURCH Gilbert, SC	GENERAL OPERATIONS	$5,000
HOPEFUL HORIZONS Beaufort, SC	GENERAL OPERATIONS	$4,500
AMI KIDS BEAUFORT Seabrook, SC	GENERAL OPERATIONS	$3,300
LEUKEMIA & LYMPHOMA SOCIETY Rye Brook, NY	GENERAL OPERATIONS	$3,000
SHELDON BOYS AND GIRLS CLUB Bluffton, SC	GENERAL OPERATIONS	$1,000

Leadership & Key People

Leadership team and compensation from IRS filings

The foundation is governed by five trustees:

Craig Monaghan (Director, Chairman)
Shannon Monaghan (President, Treasurer)
Connor Monaghan (Treasurer, Director)
Rand Monaghan (Treasurer, Secretary)
Mary Lou Monaghan (Director, Vice President)

All trustees serve without compensation.

Compensation Overview

No officer or director reported compensation in the available filings.

From 2024 IRS filing

Name	Title	Hours	Compensation
Craig Monaghan	Director, Chairman	—	—
Shannon Monaghan	President, Treasurer	—	—
Connor Monaghan	Treasurer, Director	—	—
Rand Monaghan	Treasurer, Secretary	—	—
Mary Lou Monaghan	Director, Vice President	—	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

How do I apply for a grant from Monaghan Foundation Inc?

The foundation is an active grantmaker that distributed $485,800 in grants in its most recent fiscal year (2024). In 2023, the foundation made 36 grants totaling $273,250. **Grant Characteristics:** • Median grant size: $4,500 • Grant range: $1,000–$449,000 • Recent notable grants (2023) include: • Help of Beaufort: $50,000 (General Operations) • Operation Healing Forces: $50,000 (General Operations) • Lehigh University: $30,250 (General Operations)