SCHUG FOUNDATION co PEGGY COBB SCHUG
The Schug Foundation co Peggy Cobb Schug is a private foundation located in Charlotte, North Carolina. Established in 2001, it operates as a 501(c)(3) organization with no employees.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$932K
+177.8% YoY
Annual Giving
$213K
+11.1% YoY
Grant Count
71
-1.4% YoY
Avg Grant Size
$3K
+12.6% YoY
Under IRS private-foundation payout rules, SCHUG FOUNDATION co PEGGY COBB SCHUG reported a distributable amount of $29K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation primarily funds tuition assistance for students attending North Carolina universities, with a particular focus on:
- UNC Greensboro
- Western Carolina University
- UNC Chapel Hill
- NC State University
- Winston Salem institutions
Grantmaking
The foundation demonstrates active grantmaking activity:
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking is concentrated in North Carolina, with emphasis on supporting students at major state universities within the region.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Fiscal Year 2024:
- Total Assets: $931,936
- Total Revenues: $758,078
- Total Expenses: $231,103
- Total Grants, Contributions, etc.: $736,328
- Investment Income and Dividends: $21,750
Fiscal Year 2023:
- Total Revenues: $11,619
- Investment Income and Dividends: $11,619
The foundation experienced significant growth in contributions between 2023 and 2024, with grants and contributions increasing from $0 to $736,328.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $931,936 | $335,503 | $491,892 |
| Revenue | $758,078 | $11,619 | $14,084 |
| Expenses | $231,103 | $205,647 | $227,695 |
| Qualifying Distributions | $213,377 | $192,111 | $207,580 |
| Net Investment Income | $795,304 | $63,683 | $51,806 |
| Distributable Amount | $29,318 | $18,863 | $28,874 |
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
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Cpcc Foundation ($16,000), Miyonah Whitaker ($5,500), Abigail Jones ($4,500).
| Recipient | Purpose | Amount |
|---|---|---|
| ADDISON GRAMMATICO MOORESVILLE, NC | UNC GREENSBOROTUITION | $4,000 |
| ALIVIA RICH CLYDE, NC | WESTERN CAROLINAUNIVERSITYTUITION | $1,500 |
| ANTWANETTE SMALLS CHARLOTTE, NC | WINSTON SALEMSTATE UNIV.TUITION | $1,500 |
| AYANNA GRANT CHARLOTTE, NC | WINSTON SALEMSTATE UNIV.TUITION | $1,500 |
| CHRISTOPHER VIRELLA CHARLOTTE, NC | NC STATETUITION | $1,000 |
| COURTNEY DARDEN PINEVILLE, NC | UNC PEMBROKETUITION | $1,500 |
| FIONA MASCIARELLI WAYNESVILLE, NC | APPALACHIAN STATEUNIVERSITYTUITION | $1,500 |
| MAURA CRENSHAW CHARLOTTE, NC | UNC GREENSBOROTUITION | $4,000 |
| MIYONAH WHITAKER CHARLOTTE, NC | UNC GREENSBOROAND DUKETUITION | $5,500 |
| ZAHRIA SANDERS CHARLOTTE, NC | UNC CHAPEL HILLTUITION | $1,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOHN B SCHUG | TRUSTEE | 2 | — |
| PEGGY C SCHUG | TRUSTEE | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does SCHUG FOUNDATION co PEGGY COBB SCHUG fund?
The foundation primarily funds tuition assistance for students attending North Carolina universities, with a particular focus on: • UNC Greensboro • Western Carolina University • UNC Chapel Hill • NC State University • Winston Salem institutions
How do I apply for a grant from SCHUG FOUNDATION co PEGGY COBB SCHUG?
The foundation demonstrates active grantmaking activity: • **Grant Volume**: Made 79 grants in the most recent fiscal year • **Grant Recipients**: Include individual scholars such as Kelsey McDowell and other students
Where does SCHUG FOUNDATION co PEGGY COBB SCHUG make grants?
The foundation's grantmaking is concentrated in North Carolina, with emphasis on supporting students at major state universities within the region.
What size grants does SCHUG FOUNDATION co PEGGY COBB SCHUG award?
In 2024, SCHUG FOUNDATION co PEGGY COBB SCHUG awarded 71 grants totaling $213K — an average of about $3K per grant, based on its IRS Form 990 filings.
How much is SCHUG FOUNDATION co PEGGY COBB SCHUG required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, SCHUG FOUNDATION co PEGGY COBB SCHUG reported a distributable amount of $29K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is SCHUG FOUNDATION co PEGGY COBB SCHUG's EIN?
SCHUG FOUNDATION co PEGGY COBB SCHUG's EIN (Employer Identification Number) is 56-6583795. IRS Form 990 filing data is available on this page for 2020–2024.
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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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