Smartbank Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHATTANOOGA, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $198K in total assets. In 2024, it awarded 4 grants totaling $36K. Net investment income was $12K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$198K
-11.6% YoY
Annual Giving
$36K
-28.0% YoY
Grant Count
4
+33.3% YoY
Avg Grant Size
$9K
-46.0% YoY
Under IRS private-foundation payout rules, Smartbank Foundation reported a distributable amount of $15K for 2024 — the minimum it must pay out in qualifying distributions.
About Smartbank Foundation
Based on IRS filings
Smartbank Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHATTANOOGA, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $198K in total assets. In 2024, it awarded 4 grants totaling $36K. Net investment income was $12K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $198,287 | $224,304 | $262,108 |
| Revenue | $13,706 | $15,145 | $34,078 |
| Expenses | $39,723 | $52,949 | $29,746 |
| Qualifying Distributions | $38,000 | $52,500 | $27,997 |
| Net Investment Income | $11,983 | $14,696 | $32,329 |
| Distributable Amount | $14,915 | $14,841 | $16,478 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
Grant Size Distribution
17 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Saban Center ($20,000), Mountain Ways ($10,000), Sevier County Partners in Progress Education Foundation ($5,000).
| Recipient | Purpose | Amount |
|---|---|---|
| SABAN CENTER TUSCALOOSA, AL | $100,000 CONTRIBUTION OVER 5 YEARS (BEGINNING 2023) TO THE SABAN CENTER WHOSE MISSION IS TO PROVIDE AN ENVIRONMENT THAT ENCOURAGES LEARNING, CREATIVITY, AND TEAMWORK. THE SABAN CENTER IS A STEAM CAMPUS WHERE EDUCATION, EXPERIENCE, AND INNOVATION MEET. SABAN CENTER WILL BE AN INNOVATIVE HUB FOR EDUCATION TRAINING, ARTS PARTICIPATION AND ACADEMIC SUPPORT FOR TEACHERS AND FAMILIES ALIKE FOR LOCAL AND REGIONAL SCHOOL DISTRICTS TO INSPIRE CHILDREN TO ENTER A VARIETY OF STEAM-RELATED FIELDS. 2023 CONTRIBUTION: $20,000 | $20,000 |
| SEVIER COUNTY PARTNERS IN PROGRESS EDUCATION FOUNDATION SEVIERVILLE, TN | DONATION TO PURCHASE A TABLE AT THE PARTNERS IN PROGRESS MAYOR'S LUNCHEON ON NOVEMBER 13, 2024, BENEFITING THE SEVIER COUNTY PARTNERS IN PROGRESS EDUCATION FOUNDATION. THE FOUNDATION AWARDS SCHOLARSHIPS FOR STUDENTS TO TAKE DUAL ENROLLMENT CLASSES AT WALTERS STATE COMMUNITY COLLEGE WHILE ATTENDING ONE OF THE SEVIER COUNTY HIGH SCHOOLS. ONCE THEY HAVE GRADUATED AND HAVE SUCCESSFULLY COMPLETED 60 HOURS AS WSCC, THEY ARE ELIGIBLE TO RECEIVE UP TO $3,000 PER SEMESTER FOR 4 SEMESTERS TO ENABLE THEM TO OBTAIN A 4-YEAR DEGREE FROM ETSU IN SEVIERVILLE. | $5,000 |
| SHEPARDS ARMS RESCUE MISSION CHATTANOOGA, TN | MAKING A $1,000 CONTRIBUTION TO THE SHEPARDS ARMS RESCUE MISSION FOR BENEVOLENCE FOR JACQUIESHA DAVIS. MRS. DAVIS IS A SMARTBANK ASSOCIATE, AND HER HOME WAS SEVERELY DAMAGED BY FIRE. | $1,000 |
| MOUNTAIN WAYS GATLINBURG, TN | MAKING A $10,000 CONTRIBUTION TO MOUNTAIN WAYS TO SUPPORT VICTIMS OF HURRICANE HELENE IN EAST TENNESSEE, WESTERN NORTH CAROLINA, AND THE GREATER APPALACHIAN REGION. MOUNTAIN WAYS IS A REGISTERED 501(C)(3) NONPROFIT DEDICATED TO BRINGING THE HOSPITALITY AND VALUES OF THE APPALACHIAN REGION TO THOSE FACING NATURAL DISASTERS AND TRAGEDIES. | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BILLY CARROLL | PRESIDENT | 2 | — |
| BILL CARROLL | TREASURER | 2 | — |
| MILLER WELBORN | SECRETARY | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Smartbank Foundation?
Smartbank Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHATTANOOGA, TN. It holds $198K in total assets as of 2024.
How large is Smartbank Foundation?
As of 2024, Smartbank Foundation holds $198K in total assets with $14K in annual revenue. It awarded 4 grants totaling $36K in 2024.
Where does Smartbank Foundation operate?
Smartbank Foundation has awarded grants in Alabama, Georgia, Tennessee.
What size grants does Smartbank Foundation award?
In 2024, Smartbank Foundation awarded 4 grants totaling $36K — an average of about $9K per grant, based on its IRS Form 990 filings.
How much is Smartbank Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Smartbank Foundation reported a distributable amount of $15K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Smartbank Foundation's EIN?
Smartbank Foundation's EIN (Employer Identification Number) is 20-8115548. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Smartbank Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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