The Rae of Hope Foundation is a private grantmaking foundation based in Reston, Virginia. Established in 2011 and designated as a 501(c)(3) organization, the foundation operates as a family foundation focused on philanthropic giving and charitable support across multiple sectors.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$661K
-15.0% YoY
Annual Giving
$150K
-52.5% YoY
Grant Count
44
+10.0% YoY
Avg Grant Size
$3K
-56.8% YoY
Mission & Focus Areas
The foundation's primary funding interests include:
- Broomtree loan forgiveness programs
- Racial justice initiatives (Thrive for Racial Justice)
- Support for community programs (Camel Day Cafe)
- Summer intern programs
- Staff spiritual development
- Education, philanthropy, voluntarism, and grantmaking
- Human services
Grantmaking
The foundation made 44 grants in 2024. Recent grants include:
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Virginia, Maryland, and North Carolina.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total Assets: $661,184
- Total Revenues: $139,854
- Total Expenses: $256,160
- Total Giving: $149,629
Revenue Breakdown (2024):
- Grants and contributions: $21,201
- Investment income and dividends: $27,892
- Net gain from sale of non-inventory assets: $90,761
As of December 2023:
- Total Assets: $777,000
- Total Revenues: $307,000
- Total Expenses: $410,000
The foundation carries no liabilities and operates with zero employees.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $661,184 | $777,490 | $880,458 |
| Revenue | $139,854 | $307,165 | $267,181 |
| Expenses | $256,160 | $410,133 | $195,411 |
| Qualifying Distributions | $232,898 | $393,697 | $173,725 |
| Net Investment Income | $104,864 | $151,724 | $174,104 |
| Distributable Amount | $55,172 | $60,899 | $56,649 |
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
226 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is managed through Sterling Foundation Management LLC and can be reached at 703-437-9720.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| WILLIAM JOSEPH CARLIN | PRESIDENT//DIRECTOR | 8 | $26,553 |
| SARA L CARLIN | SECRETARY/TREASURER/DIRECTOR | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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