Rae of Hope Foundation

RESTON, VA EIN: 27-4318144

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

+10.0% YoY

Avg Grant Size

$3K

-56.8% YoY

Under IRS private-foundation payout rules, Rae of Hope Foundation reported a distributable amount of $55K for 2024 — the minimum it must pay out in qualifying distributions.

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

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

Virginia $507K (57%)

Maryland $278K (31%)

New York $21K (2%)

North Carolina $19K (2%)

Minnesota $16K (2%)

Missouri $13K (2%)

Ohio $10K (1%)

District of Columbia $10K (1%)

+6 more states

States

Colorado District of Columbia Massachusetts Maryland Minnesota Missouri North Carolina New Jersey New York Ohio Pennsylvania South Carolina Virginia West Virginia

Cities

AberdeenAlexandriaAnnandaleAnnapolisArlingtonAshburnBaltimoreBel AirBrambletonBristowBroad RunBroadlandsBronxvilleBrunswickBurkeCentrevilleChantillyCharles TownChesterfieldChevy Chase

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.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

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

Among its reported 2024 grants, the largest include Faith Aid ($50,000), Fredericksburg Christian Health Center ($10,000), Southeastern District Lutheran Church - Missouri Synod ($9,994).

Recipient	Purpose	Amount
AARON BUELTMANN WAUSEON, OH	BROOM TREE LOAN FORGIVENESS	$3,480
ALYSSA K ARNONE PASADENA, MD	BROOM TREE LOAN FORGIVENESS	$1,500
ASHLEY M GRANADOS RICHMOND, VA	BROOM TREE LOAN FORGIVENESS	$1,500
BRENNA MACK DENVER, CO	BROOM TREE LOAN FORGIVENESS	$1,500
CRISTHIAN SERRANO CARIAS ANNANDALE, VA	BROOM TREE LOAN FORGIVENESS	$3,450
DANIEL KIM FALLS CHURCH, VA	BROOM TREE LOAN FORGIVENESS	$1,500
ELIZABETH LELIEVRE ARLINGTON, MA	BROOM TREE LOAN FORGIVENESS	$2,000
EMILY S HERBUT LEESBURG, VA	BROOM TREE LOAN FORGIVENESS	$2,000
ERIC Z BEDNASH ABERDEEN, MD	BROOM TREE LOAN FORGIVENESS	$1,500
FAITH AID BROADLANDS, VA	FOR THE MUSTARD SEED HOUSE	$50,000

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

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does Rae of Hope Foundation fund?

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

How do I apply for a grant from Rae of Hope Foundation?

The foundation made 44 grants in 2024. Recent grants include: • **Fredericksburg Christian Health Center (FCHC)**: $10,000 for staff enrichment and development (2024) • **SCAN of Northern Virginia**: $3,400 for general support (2024) Typical grant awards range from $1,000 to $200,000.

Where does Rae of Hope Foundation make grants?

The foundation primarily funds organizations in Virginia, Maryland, and North Carolina.

What size grants does Rae of Hope Foundation award?

In 2024, Rae of Hope Foundation awarded 44 grants totaling $150K — an average of about $3K per grant, based on its IRS Form 990 filings.

How much is Rae of Hope Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Rae of Hope Foundation reported a distributable amount of $55K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.