Stonecutter Foundation Inc

SPINDALE, NC EIN: 56-6044820

Stonecutter Foundation Inc is a private foundation incorporated in North Carolina in 1944. Based in Spindale, NC, the foundation supports nonprofit organizations and local government agencies through grantmaking activities. The foundation's primary mechanism for generating funding is interest income from student loans, which supports its grantmaking operations.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$8.2M

-3.4% YoY

Annual Giving

$661K

+1.4% YoY

Grant Count

-19.0% YoY

Avg Grant Size

$39K

+25.2% YoY

Under IRS private-foundation payout rules, Stonecutter Foundation Inc reported a distributable amount of $938K for 2025 — 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 supports organizations involved in the following areas:

Arts and culture
Higher education
Community and economic development
Religion
Education and civic affairs
Social welfare
Children and youth
Christian churches
Museums

Grantmaking

The foundation made 24 grants in its most recent fiscal year (ending March 2025). Recent notable grants include:

Grant Range

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Geographic Focus

Where this funder awards grants

The foundation supports nonprofit organizations and local government agencies in North Carolina, with an emphasis on Rutherford County.

Grant Distribution by State

North Carolina $3.1M (100%)

District of Columbia $10K (0%)

States

District of Columbia North Carolina

Cities

AshevilleBoiling SpringsBosticCharlotteForest CityGastoniaLake LureMars HillMontreatRaleighRutherfordRutherfordtonSpindaleWashington

Financial History

Multi-year comparison from IRS filings

As of Fiscal Year Ending March 2025:

Total Assets: $8,228,777
Total Giving: $660,629
Total Revenues: $916,674
Total Expenses: $968,621

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2025	2024	2023
Total Assets	$8,228,777	$8,515,621	$8,483,391
Revenue	$916,674	$1,078,647	$460,472
Expenses	$968,621	$999,582	$957,120
Qualifying Distributions	$753,625	$775,886	$773,173
Net Investment Income	$737,260	$843,669	$290,188
Distributable Amount	$937,910	$786,439	$704,530

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 2025

Grant Size Distribution

99 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2025 grants, the largest include Rutherford County Habitat for Human ($310,429), Town of Spindale ($100,000), Rutherford Housing Partnership ($45,500).

Recipient	Purpose	Amount
FAMILY RESOURCES OF RUTHERFORD RUTHERFORD, NC	COMMUNITY	$20,000
GARDNER-WEBB UNIVERSITY BOILING SPRINGS, NC	EDUCATION	$10,000
HATCH AVL FOUNDATION ASHEVILLE, NC	EDUCATION	$20,000
LAKE LURE FLOWERING BRIDGE LAKE LURE, NC	COMMUNITY	$10,000
MARS HILL UNIVERSITY MARS HILL, NC	EDUCATION	$5,000
OPENDOORS ASHEVILLE ASHEVILLE, NC	EDUCATION	$17,000
PIEDMONT COUNCIL BOY SCOUTS OF GASTONIA, NC	COMMUNITY	$5,000
RUTHERFORD CO COOPERATIVE EXTENSION SPINDALE, NC	COMMUNITY	$500
RUTHERFORD COUNTY HABITAT FOR HUMAN RUTHERFORDTON, NC	COMMUNITY	$310,429
RUTHERFORD COUNTY VISUAL ARTS GUILD RUTHERFORDTON, NC	COMMUNITY	$4,000

Leadership & Key People

Leadership team and compensation from IRS filings

Terri C Barringer serves as Executive Director of the foundation.

Compensation Overview

From 2025 IRS filing

From 2025 filing

Name	Title	Hours	Compensation
JAMES R COWAN	PRESIDENT/TR	—	—
JASON HARRILL	VICE PRESIDE	—	—
MYRA H COWAN	SECRETARY	—	—
DR DILLARD MORROW	DIRECTOR	—	—
MARIA HUNNICUTT	DIRECTOR	—	—
CAROLYN KEEVER	DIRECTOR	—	—
TIFFANY LATHAN	DIRECTOR	—	—
GEORGE HUGHES	DIRECTOR	—	—
TERRI C BARRINGER	EXECUTIVE DI	—	$96,107

Recent News & Activity

Recent developments and announcements

The Stonecutter Foundation has sponsored the annual Math Academy at Gardner-Webb University in Spindale, North Carolina. The summer camp brings together high school students to study mathematical functions and their applications in business and financial settings, with the program co-created by Dr. Jim Johnson, assistant professor of mathematics at Gardner-Webb University.

Frequently Asked Questions

What does Stonecutter Foundation Inc fund?

The foundation supports organizations involved in the following areas: • Arts and culture • Higher education • Community and economic development • Religion • Education and civic affairs • Social welfare • Children and youth • Christian churches • Museums

How do I apply for a grant from Stonecutter Foundation Inc?

**Grant Activity:** The foundation made 24 grants in its most recent fiscal year (ending March 2025). Recent notable grants include: • Habitat for Humanity - Rutherford County: $310,429 • Rutherford Housing Partnership: $45,500 • The Symphony of Rutherford County: $33,300 **Grant Range:** Typical awards range from $500 to $310,429. **Types of Support:** The foundation provides support for: • Project funding • Equipment • Challenge and matching grants • Building funds

Where does Stonecutter Foundation Inc make grants?

The foundation supports nonprofit organizations and local government agencies in North Carolina, with an emphasis on Rutherford County.

What size grants does Stonecutter Foundation Inc award?

In 2025, Stonecutter Foundation Inc awarded 17 grants totaling $661K — an average of about $39K per grant, based on its IRS Form 990 filings.

How much is Stonecutter Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2025, Stonecutter Foundation Inc reported a distributable amount of $938K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.