Spivey Scholarship Trust First Citizens Bank
Spivey Scholarship Trust First Citizens Bank is a private foundation focused on Education, based in Raleigh, NC. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $638K in total assets. In 2025, it awarded 3 grants totaling $46K. Net investment income was $38K.
Spivey Scholarship Trust First Citizens Bank at a glance
In short: Spivey Scholarship Trust First Citizens Bank gave $46K across 3 grants in 2025 (avg $15K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $45,986
- +22.0% vs 2024
- Grants made (2025)
- 3
- -25.0% vs 2024
- Average grant
- $15,329
- +62.6% vs 2024
- Median grant
- $12,751
- Total assets
- $637,579
- -1.4% vs 2024
- Primary geography
- North Carolina (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Spivey Scholarship Trust First Citizens Bank funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was East Carolina University ($27K). Together the top 3 received $46K.
Grant Size Distribution
18 grants across all recorded years
The most common grant size was under $50K: 18 grants of 18 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
States
Cities
How Spivey Scholarship Trust First Citizens Bank gives
- Giving grew 114% from 2022 to 2025. Method
- In 2025 it paid out 125% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $22K (2022) to $46K (2025). In 2025 it made 3 grants totaling $46K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| East Carolina University Greenville, NC | Education - College | $27,303 |
| University of North Carolina Chapel Hill, NC | Education - College | $12,751 |
| Western Carolina Univ Cullowhee, NC | Education - College | $5,932 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $637,579 | $47,265 | $55,499 | $45,986 | 3 | $45,986 | $38,471 | $36,840 |
| 2024 | $646,423 | $45,446 | $46,269 | $37,707 | 4 | $37,707 | $35,808 | $37,410 |
| 2023 | $647,392 | $-2,838 | $50,344 | $40,294 | 5 | $40,294 | $7,983 | $32,896 |
| 2022 | $700,417 | $84,210 | $30,738 | $21,500 | 4 | $21,500 | $75,522 | $34,101 |
| 2021 | $647,369 | $57,679 | $43,900 | $34,501 | 2 | — | $47,616 | $38,101 |
| 2020 | $633,602 | $42,264 | $33,126 | $26,000 | 3 | — | $36,494 | $33,382 |
Under IRS private-foundation payout rules, Spivey Scholarship Trust First Citizens Bank reported a distributable amount of $37K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Spivey Scholarship Trust First Citizens Bank's only listed officer is First Citizens Bank, Trustee on every filing since 2020 (compensated).
Officers on the 2025 filing
First Citizens Bank
Trustee
On filings since 2020
1 hr/week
$6K (2020) → $8K (2025)
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $8K, to First Citizens Bank (Trustee).
Frequently asked questions about Spivey Scholarship Trust First Citizens Bank
How much does Spivey Scholarship Trust First Citizens Bank give each year?
Spivey Scholarship Trust First Citizens Bank gave $46K across 3 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $38K across 4 grants.
What is Spivey Scholarship Trust First Citizens Bank's typical grant size?
Spivey Scholarship Trust First Citizens Bank's median grant in 2025 was $12,751, and its average grant was $15,329, across 3 grants on its 2025 IRS Form 990-PF.
Where does Spivey Scholarship Trust First Citizens Bank give grants?
Spivey Scholarship Trust First Citizens Bank gives mostly in North Carolina: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does Spivey Scholarship Trust First Citizens Bank give general operating support?
Not in 2025: none of the 3 grants with a stated purpose on Spivey Scholarship Trust First Citizens Bank's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Education - College" (3 grants).
How large is Spivey Scholarship Trust First Citizens Bank?
Spivey Scholarship Trust First Citizens Bank reported $638K in total assets on its 2025 IRS Form 990-PF. It paid out $46K in qualifying distributions that year, against a required minimum of $37K (roughly 5% of its investment assets).
What is Spivey Scholarship Trust First Citizens Bank?
Spivey Scholarship Trust First Citizens Bank is a private foundation focused on Education, based in Raleigh, NC. It holds $638K in total assets as of 2025.
What is Spivey Scholarship Trust First Citizens Bank's EIN?
Spivey Scholarship Trust First Citizens Bank's EIN (Employer Identification Number) is 56-6235902. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2025
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