The Nucor Charitable Foundation is a private grantmaking foundation established in May 2022 and based in Charlotte, North Carolina. It operates as the charitable arm of Nucor Corporation, one of North America's largest sustainable steel producers. The foundation is a 501(c)(3) organization designated as a corporate foundation.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$32.9M
+17.9% YoY
Annual Giving
$3.6M
+45.2% YoY
Grant Count
43
+95.5% YoY
Avg Grant Size
$84K
-25.7% YoY
Under IRS private-foundation payout rules, Nucor Charitable Foundation reported a distributable amount of $1.7M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission focuses on supporting nonprofit organizations in communities where Nucor maintains operations. Primary funding priorities include:
- Education, with particular emphasis on STEM (science, technology, engineering, and mathematics)
- Health and human services
- Community development initiatives
- Addiction and substance abuse prevention
The foundation operates through trustee-directed grantmaking without formal program categories, indicating a broad philanthropic approach.
Grantmaking
Grant Range
$5,000 to $1,000,000
How to Apply
; grants are awarded through trustee discretion
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Geographic Focus
Where this funder awards grants
The foundation supports communities where Nucor operates, with primary focus in the following states and regions:
Alabama, Arizona, Arkansas, California, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Louisiana, Mississippi, Missouri, Montana, Nebraska, Nevada, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.
Specific cities with documented funding include: Atlanta, Birmingham, Butte, Charlotte, Columbia, Dallas, Hernando, Kennesaw, Laguna Beach, Lancaster, Los Angeles, and Washington, D.C.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $32.9 million
- Total revenue: $8.79 million
- Total expenses: $3.8 million
- Total liabilities: $0
Revenue Breakdown (2024):
- Total grants and contributions: $7,000,000
- Investment income and dividends: $966,023
- Net gain from sale of non-inventory assets: $826,277
Year-over-Year Changes (2023 to 2024):
- Grants and contributions decreased 41.7% (from $12M to $7M)
- Investment income increased 17%
- Net asset gains increased 292.4%
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $32,944,869 | $27,944,851 | $17,503,934 |
| Revenue | $8,792,300 | $13,036,266 | $25,339,824 |
| Expenses | $3,799,764 | $2,606,806 | $7,835,890 |
| Qualifying Distributions | $3,618,800 | $2,492,500 | $7,810,000 |
| Net Investment Income | $1,633,466 | $932,460 | $318,934 |
| Distributable Amount | $1,687,839 | $1,268,114 | $711,702 |
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
86 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Discovery Place Inc ($500,000), Foundation for the Carolinas ($500,000), Global War on Terrorism Memorial ($500,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AIST FOUNDATION WARRENDALE, PA | GENERAL SUPPORT | $50,000 |
| ALEXANDER YOUTH NETWORK CHARLOTTE, NC | GENERAL SUPPORT | $15,000 |
| ALL HANDS AND HEARTS MATTAPOISETT, MA | GENERAL SUPPORT | $100,000 |
| ALSACST JUDE CHILDREN'S RESEARCH HOSPITAL INC MEMPHIS, TN | GENERAL SUPPORT | $15,000 |
| AMERICAN DIABETES ASSOCIATION ARLINGTON, VA | GENERAL SUPPORT | $15,000 |
| AMERICAN HEART ASSOCIATION DALLAS, TX | GENERAL SUPPORT | $250,000 |
| AMERICAN NATIONAL RED CROSS WASHINGTON, DC | GENERAL SUPPORT | $100,000 |
| BOUNTY AND SOUL BLACK MOUNTAIN, NC | GENERAL SUPPORT | $100,000 |
| CATAWBA LANDS CONSERVANCY CHARLOTTE, NC | GENERAL SUPPORT | $25,000 |
| CATAWBA RIVERKEEPER FOUNDATION CHARLOTTE, NC | GENERAL SUPPORT | $40,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is administered by Nucor Corporation officers on a voluntary basis without compensation. Key leadership includes:
- Donovan E. Marks, President
- Carolyn Koonts, Secretary
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DONOVAN E MARKS | PRESIDENT | 0.5 | — |
| JOHN A BULLINS | VICE PRESIDENT | 0.5 | — |
| APRIL DAVIS | TREASURER | 0.5 | — |
| CAROLYN KOONTS | SECRETARY | 0.5 | — |
| LAUREN RUSSELL | ASSISTANT SECRETARY | 0.5 | — |
| A RAE EAGLE | DIRECTOR | 0.5 | — |
| BRAD FORD | DIRECTOR | 0.5 | — |
| DONOVAN MARKS | DIRECTOR | 0.5 | — |
| GREG MURPHY | DIRECTOR | 0.5 | — |
| BENJMAIN PICKETT | DIRECTOR | 0.5 | — |
| RANDY SPICER | DIRECTOR | 0.5 | — |
Recent News & Activity
Recent developments and announcements
In January 2023, Nucor Corporation awarded a $1 million gift to the Charlotte Mecklenburg Library Foundation to support development of a new main library in uptown Charlotte. In recognition of this support, the fifth-floor terrace in the new library carries the Nucor name.
Nucor Steel Marks Record Breaking Year for Support of Children\u2019s of\The foundation operates separately from Nucor Foundation Inc., an older foundation established in 1973 that focuses specifically on undergraduate scholarships for Nucor employees' children and community members.
Nucor Steel Marks Record Breaking Year for Support of Children\u2019s of\Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Nucor Charitable Foundation fund?
The foundation's mission focuses on supporting nonprofit organizations in communities where Nucor maintains operations. Primary funding priorities include: • Education, with particular emphasis on STEM (science, technology, engineering, and mathematics) • Health and human services • Community development initiatives • Addiction and substance abuse prevention The foundation operates through trustee-directed grantmaking without formal program categories, indicating a broad philanthropic approach.
How do I apply for a grant from Nucor Charitable Foundation?
**Grant Characteristics:** • Grant range: $5,000 to $1,000,000 • Median grant size: approximately $45,000 • Application method: No public application process; grants are awarded through trustee discretion **Recent Activity:** • 2024: Distributed $3,618,800 in grants through 43 awards • 2023: Distributed $2,492,500 in grants through 22 awards • Annual giving typically ranges from $2.5M to $3.6M **Notable Recent Grants:** • Foundation for the Carolinas: $500,000 (General Support) • Discovery Plac…
Where does Nucor Charitable Foundation make grants?
The foundation supports communities where Nucor operates, with primary focus in the following states and regions: Alabama, Arizona, Arkansas, California, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Louisiana, Mississippi, Missouri, Montana, Nebraska, Nevada, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin. Specific cities with documented funding include: Atlanta, Birmingham, Butte, Charlotte, Columbia, …
What size grants does Nucor Charitable Foundation award?
In 2024, Nucor Charitable Foundation awarded 43 grants totaling $3.6M — an average of about $84K per grant, based on its IRS Form 990 filings.
How much is Nucor Charitable Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Nucor Charitable Foundation reported a distributable amount of $1.7M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Nucor Charitable Foundation's EIN?
Nucor Charitable Foundation's EIN (Employer Identification Number) is 87-3559274. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in Nucor Charitable Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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