Ruth Carol Fund Inc
Ruth Carol Fund Inc is a private foundation, based in Baltimore, MD. IRS filing data is available from 2020 through 2023. As of 2023, the organization holds $23.4M in total assets. In 2023, it awarded 7 grants totaling $1.9M. Net investment income was $1.1M.
Key facts about Ruth Carol Fund Inc
In short: Ruth Carol Fund Inc gave $1.9M across 7 grants in 2023 (avg $275K), mostly in Maryland. Source: 2023 IRS Form 990-PF.
- EIN
- 20-2013753
- Latest 990 filing
- Form 990-PF, 2023
- Annual giving (2023)
- $1,925,000
- Grants made (2023)
- 7
- Average grant
- $275,000
- Median grant
- $75,000
- Total assets
- $23,379,787
- Primary geography
- Maryland (96% of itemized 2023 grant dollars)
Data from IRS Form 990-PF, 2023; updated September 2026.
Financial Overview
From 2023 IRS Form 990-PF · View filing
Total Assets
$23.4M
-3.4% YoY
Annual Giving
$1.9M
+14.9% YoY
Grant Count
7
-12.5% YoY
Avg Grant Size
$275K
+31.3% YoY
Under IRS private-foundation payout rules, Ruth Carol Fund Inc reported a distributable amount of $1.4M for 2023 — the minimum it must pay out in qualifying distributions.
How Ruth Carol Fund Inc gives
- Giving grew 26% from 2020 to 2023. Method
- In 2023 it paid out 146% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2023 grant dollars across all 7 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2023, annual grant giving ranged from $1.5M (2020) to $1.9M (2023). In 2023 it made 7 grants totaling $1.9M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2023
The largest 2023 recipient was Baltimore Museum of Art ($1.0M). Together the top 7 received $1.9M.
Grant Size Distribution
29 grants across all recorded years
The most common grant size was in the $50–100K range: 16 grants of 29 (55%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Baltimore Museum of Art Baltimore, MD | Support Exempt Purposes | $1,000,000 |
| GBMC Pediatric Emergency Department Baltimore, MD | Support Exempt Purposes | $500,000 |
| GBMC Promise Project Baltimore, MD | Support Exempt Purposes | $200,000 |
| Edison High School Portland, OR | Support Exempt Purposes | $75,000 |
| Baltimore Symphony Orchestra Baltimore, MD | Support Exempt Purposes | $50,000 |
| Horizon Day Camp Baltimore, MD | Support Exempt Purposes | $50,000 |
| The Associated Jewish Community Federation of Baltimore Baltimore, MD | Support Exempt Purposes | $50,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $23,379,787 | $24,214,019 | $24,629,253 |
| Revenue | $1,474,018 | $1,642,891 | $2,978,177 |
| Expenses | $2,308,250 | $2,058,125 | $1,999,871 |
| Qualifying Distributions | $2,003,147 | $1,751,264 | $1,736,996 |
| Net Investment Income | $1,147,156 | $1,342,045 | $2,790,801 |
| Distributable Amount | $1,368,859 | $1,423,952 | $1,603,338 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2023
Leadership & Key People
Officers and directors from IRS filings
Ruth Carol Fund Inc is led by Donald R. Mering, President & Director on every filing since 2020; none of the 6 officers listed in 2023 report compensation.
Officers on the 2023 filing
Donald R. Mering
President & Director
On filings since 2020
10 hrs/week
$40K (2021) → $0 (2023)
Betty C. Bannat
Vice President & Director
Director & Counsel → Director, 2021
Director → Vice President & Director, 2022
On filings since 2020
0.5 hrs/week
$15K (2021) → $0 (2023)
Sanford S. Donald
Vice President & Director
V.p., Treasurer & Director → Vice President & Director, 2022
On filings since 2020
0.5 hrs/week
$20K (2021) → $0 (2023)
John P. Edgar
Treasurer & Director
Director → Treasurer & Director, 2022
On filings since 2020
0.5 hrs/week
No compensation reported
S. Scott Tate
Director
On filings since 2021
0.5 hrs/week
No compensation reported
Carolanne Harris
Secretary
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2023. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2021 IRS filing
The highest reported compensation on the 2021 filing was $40K, to Donald R Mering (President, Director). 3 officers or directors reported compensation on that filing.
Frequently asked questions about Ruth Carol Fund Inc
How much does Ruth Carol Fund Inc give each year?
Ruth Carol Fund Inc gave $1.9M across 7 grants in 2023, according to its 2023 IRS Form 990-PF. In 2022 it gave $1.7M across 8 grants.
What is Ruth Carol Fund Inc's typical grant size?
Ruth Carol Fund Inc's median grant in 2023 was $75,000, and its average grant was $275,000, across 7 grants on its 2023 IRS Form 990-PF.
Where does Ruth Carol Fund Inc give grants?
Ruth Carol Fund Inc gives mostly in Maryland: 96% of the grant dollars itemized on its 2023 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Baltimore, MD (6 grants).
Who are Ruth Carol Fund Inc's largest grantees?
Ruth Carol Fund Inc's largest 2023 grantees include Baltimore Museum of Art ($1,000,000), GBMC Pediatric Emergency Department ($500,000) and GBMC Promise Project ($200,000), according to its 2023 IRS Form 990-PF. Together they received 88% of its itemized 2023 grant dollars.
How large is Ruth Carol Fund Inc?
Ruth Carol Fund Inc reported $23.4M in total assets on its 2023 IRS Form 990-PF. It paid out $2.0M in qualifying distributions that year, against a required minimum of $1.4M (roughly 5% of its investment assets).
What is Ruth Carol Fund Inc's EIN?
Ruth Carol Fund Inc's EIN (Employer Identification Number) is 20-2013753. IRS Form 990 filing data is available on this page for 2020–2023.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
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