Stuart and Margaret L Forbes

Private foundation · Grantmaker Tryon, NC EIN: 56-2079528

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

1state

Share of 2025 grant dollars across all 3 itemized grants.

Cities

TryonColumbusCullowheeForest CityMorrisvilleRaleigh

Giving Over Time

Total grant dollars and number of grants per year

$0$1M$2M$3M2 grants2021 2 grants2022 2 grants2023 5 grants2024 3 grants2025

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

Polk County Community Foundation: $2.3MPolk County CommunityFoundation$2.3MThe North Carolina Center for: $8KThe North Carolina Center for$8KPolk County Schools: $1KPolk County Schools$1K

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

9<$50K3$50–100K1$100–250K$250–500K$500K–1M1$1–5M$5M+

The most common grant size was under $50K: 9 grants of 14 (64%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Polk County Community Foundation Tryon, NCContinued Scholarships for Polk Cty$2,296,458
The North Carolina Center for Cullowhee, NCPolk County Schools Funding$8,250
Polk County Schools Columbus, NCOperational Support$1,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$1M$2M$3M2021 2022 2023 2024 2025
Metric202520242023
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

  1. Updated Form 990-PF for fiscal year 2021 (received by the IRS July 6, 2021)
  2. Updated Form 990-PF for fiscal year 2022 (received by the IRS November 13, 2023)
  3. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 10, 2024)
  4. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 28, 2025)
  5. Added Form 990-PF for fiscal year 2025 (received by the IRS May 13, 2026)
  6. 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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