P & B Foundation
P & B Foundation is a private foundation focused on Religion, based in Matthews, NC. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $9.1M in total assets. In 2025, it awarded 9 grants totaling $407K. Net investment income was $917K.
P & B Foundation at a glance
In short: P & B Foundation gave $407K across 9 grants in 2025 (avg $45K), top state Ohio. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $407,154
- +20.2% vs 2024
- Grants made (2025)
- 9
- -10.0% vs 2024
- Average grant
- $45,239
- +33.6% vs 2024
- Median grant
- $18,200
- Total assets
- $9,134,497
- +7.6% vs 2024
- Primary geography
- Ohio (46% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who P & B Foundation funds
How this funder distributes its grants
Top Recipients
Top 9 recipients in 2025
The largest 2025 recipient was Baptist Mid Mission ($187K). Together the top 9 received $407K.
Grant Size Distribution
59 grants across all recorded years
The most common grant size was under $50K: 50 grants of 59 (85%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 9 itemized grants.
States
Cities
How P & B Foundation gives
- Giving held roughly steady from 2022 to 2025 (+9%). Method
- In 2025 it paid out 99% 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 2025, annual grant giving ranged from $173K (2020) to $407K (2025). In 2025 it made 9 grants totaling $407K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Baptist Mid Mission Cleveland, OH | Religious | $186,928 |
| Central Missionary Clearinghouse Houston, TX | Religious | $74,800 |
| Baptist International Missions Harrison, TN | Religious | $57,174 |
| Baptist World Mission Decatur, AL | Religious | $28,552 |
| Baptist Int'l EVG Ministries Danville, IN | Religious | $18,200 |
| Mt Abarium Baptist Arlington, TX | Religious | $14,100 |
| Missioserve Wheaton, IL | Religious | $9,400 |
| Independent Baptist Mission Global Nashua, NH | Religious | $9,000 |
| Fellowship International Mission Allentown, PA | Religious | $9,000 |
Ready to take the next step with P & B Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $9,134,497 | $1,285,269 | $628,766 | $407,154 | 9 | $532,541 | $916,913 | $537,446 |
| 2024 | $8,487,642 | $502,146 | $539,964 | $338,742 | 10 | $448,634 | $278,336 | $478,049 |
| 2023 | $8,593,226 | $794,894 | $507,609 | $318,830 | 12 | $475,747 | $415,560 | $434,028 |
| 2022 | $8,465,605 | $-2,727 | $562,988 | $373,366 | 17 | $479,099 | $145,934 | $468,239 |
| 2021 | $8,979,417 | $-1,619,958 | $2,625,042 | $273,442 | 11 | — | $65,315 | $478,358 |
| 2020 | $13,233,794 | $141,466 | $343,119 | $172,992 | 6 | — | $427,070 | $409,755 |
Under IRS private-foundation payout rules, P & B Foundation reported a distributable amount of $537K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
P & B Foundation is led by Kevin Frye, V. President since 2022 (on filings since 2020); all 5 officers listed in 2025 are compensated.
Officers on the 2025 filing
Kevin Frye
V. President
Director → V. President, 2022
On filings since 2020
$300 (2020) → $300 (2025)
Larry C. Pratt
President, Secretary & Treasurer
President & Secretary → President, Secretary & Treasurer, 2024
On filings since 2020
40 hrs/week
$98K (2020) → $104K (2025)
Barry Shearer
Director
On filings since 2020
$300 (2020) → $300 (2025)
Tommy Abernethy
Director
On filings since 2021
$300 (2021) → $300 (2025)
Mark Hudson
Director
On filings since 2022
$300 (2022) → $300 (2025)
Former officers (1)
- Former: Roger Peterson (2020–2021) — Director
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $104K, to Larry C Pratt (Pres/Sec/TRE). 5 officers or directors reported compensation on that filing.
Frequently asked questions about P & B Foundation
How much does P & B Foundation give each year?
P & B Foundation gave $407K across 9 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $339K across 10 grants.
What is P & B Foundation's typical grant size?
P & B Foundation's median grant in 2025 was $18,200, and its average grant was $45,239, across 9 grants on its 2025 IRS Form 990-PF.
Where does P & B Foundation give grants?
P & B Foundation's top state is Ohio, with 46% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were Texas (22%) and Tennessee (14%).
Does P & B Foundation give general operating support?
Not in 2025: none of the 9 grants with a stated purpose on P & B Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Religious" (9 grants).
Who are P & B Foundation's largest grantees?
P & B Foundation's largest 2025 grantees include Baptist Mid Mission ($186,928), Central Missionary Clearinghouse ($74,800) and Baptist International Missions ($57,174), according to its 2025 IRS Form 990-PF. Together they received 78% of its itemized 2025 grant dollars.
How large is P & B Foundation?
P & B Foundation reported $9.1M in total assets on its 2025 IRS Form 990-PF. It paid out $533K in qualifying distributions that year, against a required minimum of $537K (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 P & B Foundation?
P & B Foundation is a private foundation focused on Religion, based in Matthews, NC. It holds $9.1M in total assets as of 2025.
What is P & B Foundation's EIN?
P & B Foundation's EIN (Employer Identification Number) is 23-7083912. IRS Form 990 filing data is available on this page for 2020–2025.
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 2020–2025
Explore Open Grants
Browse active grant opportunities in P & B Foundation's focus areas in our free grants database
Similar Funders
Funders with grantees in common, and similar funders in North Carolina
Community Foundation of Greater Fort Wayne Inc
Fort Wayne, IN
The Community Foundation of Greater Fort Wayne funds nonprofits, scholarships, and community initiatives, with grant programs focused on Allen County and Northeast Indiana; its 2025 grants had a median award of $17,450, while specific programs offer up to $50,000. It accepts applications through some competitive grant programs, subject to program guidelines and application periods.
Assets
$287.7M
Grants
299
Total Given
$12.9M
Hardman-Myers Foundation Inc
Ellicott City, MD
Assets
$11K
Grants
2
Total Given
$4K
Goldston Family Foundation
Raleigh, NC
The Goldston Family Foundation supports charitable organizations, including animal welfare, education, religious, and nonprofit-capacity work, with most of its giving going to North Carolina. Its 2025 grants ranged from $500 to $10,000, with a median of $1,500. It gives only to preselected organizations and does not accept unsolicited requests.
Assets
$70K
Grants
16
Total Given
$55K
Christian Community Foundation Inc
Colorado Springs, CO
WaterStone supports domestic and international nonprofits, including Christian ministries and charitable and educational organizations, through donor-directed grants; eligible organizations must be IRS-recognized 501(c)(3)s whose mission aligns with its Statement of Faith. Its 2025 grants had a median of $20,000, with awards ranging from $5,028 to $11 million, and were concentrated in Texas and Colorado. Grant recommendations come from donor-advised fund holders; the profile does not state that it accepts unsolicited requests.
Assets
$746.4M
Grants
1,651
Total Given
$161.8M
Foundation for the Carolinas
Charlotte, NC
Foundation For The Carolinas funds education and youth development, environmental and wildlife work, health and human services, and animal welfare, with a reported median grant of $25,000 in 2024. Its competitive programs focus on Charlotte-Mecklenburg, the Carolinas, and specific local communities, while donor-advised funds may support eligible nonprofits more broadly; it accepts applications for some competitive grants, but most grants are recommended by fund advisors and have no application process.
Assets
$3.9B
Grants
1,605
Total Given
$609.1M
State Employees Credit Union Foundation
Raleigh, NC
The foundation funds capital projects, regional or statewide programs, and organizational capacity building that strengthen North Carolina communities; it favors projects with broad or replicable impact and does not fund operating budgets or shortfalls. Its 2025 grants ranged from $1,250 to $1 million, with a median of $2,500. Applications are accepted at any time and typically reviewed semiannually.
Assets
$61.0M
Grants
1,806
Total Given
$17.4M
More similar funders
More Funders in North Carolina
The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open
Figures come from P & B Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
P & B Foundation down — hundreds of funders to go?