Nmi Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHATTANOOGA, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $563K in total assets. In 2024, it awarded 3 grants totaling $9.0M. Net investment income was $59K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$563K
-93.5% YoY
Annual Giving
$9.0M
+592.8% YoY
Grant Count
3
+0.0% YoY
Avg Grant Size
$3.0M
+592.8% YoY
Under IRS private-foundation payout rules, Nmi Foundation reported a distributable amount of $73K for 2024 — the minimum it must pay out in qualifying distributions.
About Nmi Foundation
Based on IRS filings
Nmi Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHATTANOOGA, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $563K in total assets. In 2024, it awarded 3 grants totaling $9.0M. Net investment income was $59K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $562,607 | $8,645,071 | $4,752,604 |
| Revenue | $959,859 | $5,199,543 | $3,018,235 |
| Expenses | $9,042,323 | $1,307,076 | $2,572 |
| Qualifying Distributions | $9,035,900 | $1,303,470 | $362 |
| Net Investment Income | $59,436 | $195,937 | $16,025 |
| Distributable Amount | $73,477 | $194,741 | $78,919 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
Grant Size Distribution
9 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Girls Preparatory School ($8,000,000), Chattanooga Area Food Bank ($1,012,000), Tivoli Theatre Foundation ($15,000).
| Recipient | Purpose | Amount |
|---|---|---|
| GIRLS PREPARATORY SCHOOL CHATTANOOGA, TN | ESTABLISHMENT AND FUNDING OF THE SHARON MILLS SUSTAINABILITY FUND WHICH IS AIMED AT ENSURING THE GIRLS PREPARATORY SCHOOL ACHIEVES LONG TERM FINANCIAL AND ENVIRONMENTAL SUSTAINABILITY. | $8,000,000 |
| TIVOLI THEATRE FOUNDATION CHATTANOOGA, TN | SUPPORTS THE CAPITAL RENOVATION CAMPAIGN PROVIDING THE FOLLOWING FOR PERMANENT ART (STEEL AND GLASS SCULPTURE) BEING INSTALLED DURING THE RENOVATION: OFF-SITE STORAGE (WHILE UNDER CONSTRUCTION), ENGINEERING AND ARCHITECTURE FEES, AND MATERIALS AND LABOR. | $15,000 |
| CHATTANOOGA AREA FOOD BANK CHATTANOOGA, TN | SUPPORTS SOURCING AND PURCHASE OF FRESH VEGETABLES AND FRUITS, PROTEINS, DAIRY, AND SHELF STABLE FOODS; ADDING STAFFING AND PROFESSIONAL DEVELOPMENT; CAPITAL IMPROVEMENTS; PURCHASE OF REEFER TRUCK AND VAN; COMPUTER TECHNOLOGY. | $1,012,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| R KINCAID MILLS | PRESIDENT AND TREASURER | 1 | — |
| OLAN MILLS II | SECRETARY | 0.5 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Nmi Foundation?
Nmi Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHATTANOOGA, TN. It holds $563K in total assets as of 2024.
How large is Nmi Foundation?
As of 2024, Nmi Foundation holds $563K in total assets with $960K in annual revenue. It awarded 3 grants totaling $9.0M in 2024.
Where does Nmi Foundation operate?
Nmi Foundation has awarded grants in Tennessee.
What size grants does Nmi Foundation award?
In 2024, Nmi Foundation awarded 3 grants totaling $9.0M — an average of about $3.0M per grant, based on its IRS Form 990 filings.
How much is Nmi Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Nmi Foundation reported a distributable amount of $73K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Nmi Foundation's EIN?
Nmi Foundation's EIN (Employer Identification Number) is 85-3583237. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Nmi 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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