Stuart and Margaret L Forbes
Stuart and Margaret L Forbes is a private foundation focused on religion, based in Tryon, NC. IRS filing data is available from 2021 through 2025. In 2025, it awarded 3 grants totaling $2.3M. Net investment income was $39K.
Key facts about Stuart and Margaret L Forbes
In short: Stuart and Margaret L Forbes gave $2.3M across 3 grants in 2025 (avg $769K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- EIN
- 56-2079528
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $2,305,708
- Grants made (2025)
- 3
- Average grant
- $768,569
- Median grant
- $8,250
- Primary geography
- North Carolina (100% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$2.3M
+1719.7% YoY
Grant Count
3
-40.0% YoY
Avg Grant Size
$769K
+2932.8% YoY
Under IRS private-foundation payout rules, Stuart and Margaret L Forbes reported a distributable amount of $52K for 2025 — the minimum it must pay out in qualifying distributions.
How Stuart and Margaret L Forbes gives
- Giving grew 3367% from 2022 to 2025. Method
- In 2025 it paid out well above 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 2025 grant dollars across all 3 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $67K (2022) to $2.3M (2025). In 2025 it made 3 grants totaling $2.3M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was Polk County Community Foundation ($2.3M). Together the top 3 received $2.3M.
Grant Size Distribution
14 grants across all recorded years
The most common grant size was under $50K: 9 grants of 14 (64%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Polk County Community Foundation Tryon, NC | Continued Scholarships for Polk Cty | $2,296,458 |
| The North Carolina Center for Cullowhee, NC | Polk County Schools Funding | $8,250 |
| Polk County Schools Columbus, NC | Operational Support | $1,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | — | $1,983,219 | $1,350,953 |
| Revenue | $1,016,581 | $123,921 | $53,714 |
| Expenses | $2,324,016 | $144,086 | $90,119 |
| Qualifying Distributions | $2,305,708 | $126,711 | $75,655 |
| Net Investment Income | $39,081 | $123,421 | $53,714 |
| Distributable Amount | $51,736 | $87,563 | $66,204 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS July 6, 2021)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 13, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 10, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 28, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 13, 2026)
- IRS filings on file for fiscal years 2021–2024
Leadership & Key People
Officers and directors from IRS filings
Stuart and Margaret L Forbes is led by James T. Boyle Jr., Vice Chair & President on every filing since 2021; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
James T. Boyle Jr.
Vice Chair & President
On filings since 2021
2 hrs/week
No compensation reported
Susan McHugh
Chair & Vice P
On filings since 2021
2 hrs/week
No compensation reported
F. K. McFarland III
Director, Secretary & T
On filings since 2021
2 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Stuart and Margaret L Forbes
How much does Stuart and Margaret L Forbes give each year?
Stuart and Margaret L Forbes gave $2.3M across 3 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $127K across 5 grants.
What is Stuart and Margaret L Forbes's typical grant size?
Stuart and Margaret L Forbes's median grant in 2025 was $8,250, and its average grant was $768,569, across 3 grants on its 2025 IRS Form 990-PF.
Where does Stuart and Margaret L Forbes give grants?
Stuart and Margaret L Forbes gives mostly in North Carolina: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does Stuart and Margaret L Forbes give general operating support?
Yes: 33% of Stuart and Margaret L Forbes's 2025 grants with a stated purpose (1 of 3) were for general or operating support, per its 2025 IRS Form 990-PF.
What is Stuart and Margaret L Forbes?
Stuart and Margaret L Forbes is a private foundation focused on religion, based in Tryon, NC.
How much is Stuart and Margaret L Forbes required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Stuart and Margaret L Forbes reported a distributable amount of $52K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Stuart and Margaret L Forbes's EIN?
Stuart and Margaret L Forbes's EIN (Employer Identification Number) is 56-2079528. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
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