The Bill Gatton Foundation
The Bill Gatton Foundation is a private family foundation based in Bristol, Tennessee, established to perpetuate the ideals and generous legacy of Carol Martin "Bill" Gatton, a successful businessman and philanthropist. The foundation operates as a 501(c)(3) organization and is dedicated to supporting meaningful causes across the Appalachian region.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$930.7M
+6.2% YoY
Annual Giving
$27.1M
+200.0% YoY
Grant Count
9
+80.0% YoY
Avg Grant Size
$3.0M
+66.7% YoY
Mission & Focus Areas
The foundation's mission is to support organizations that foster:
- Meaningful educational opportunities — particularly higher education
- Effective healthcare and medical treatments — including medical research and advancements
- Economic development and social success — expanding access to social and economic opportunity in the region
The foundation upholds Bill Gatton's core values of hard work, self-reliance, loyalty, principle, integrity, and honesty. Gatton's philanthropic philosophy emphasized that "giving money to the right things is more important than making money."
Grantmaking
The foundation has made transformative gifts to higher education institutions, reflecting a strategic focus on major grants rather than numerous smaller awards.
Grant Range
** $5,000 to $100,000,000
Invitation Only
** Not publicly disclosed; appears to operate on an invitation basis.
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Geographic Focus
Where this funder awards grants
The foundation prioritizes funding in:
- Kentucky
- Upper East Tennessee
- Southwest Virginia
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $931,000,000
- Total Revenue: $97,485,800
- Total Expenses: $30,900,000
- Total Liabilities: $0
As of 2023:
- Total Assets: $876,404,389
- Total Revenue: $664,214,874
- Total Expenses: $10,978,234
The significant increase in assets and revenue in 2023 resulted from a transformative $688 million contribution following Bill Gatton's passing in April 2022.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $930,727,219 | $876,404,389 | $172,195,015 |
| Revenue | $97,485,805 | $664,214,874 | $23,443,239 |
| Expenses | $30,868,363 | $10,978,234 | $11,171,002 |
| Qualifying Distributions | $28,825,320 | $9,591,953 | $10,120,346 |
| Net Investment Income | $45,037,437 | $19,277,049 | $23,111,735 |
| Distributable Amount | $47,714,422 | $33,073,014 | $9,930,236 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 9 recipients in 2024
Grant Size Distribution
44 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation's trustees include Frank Winston and Danny L. Dunn. The foundation operates with 2 employees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DANNY L DUNN | TRUSTEE | 40 | $650,000 |
| ROBERT PEEL | TRUSTEE & EXECUTIVE DIRECTOR | 40 | $450,000 |
Recent News & Activity
Recent developments and announcements
The foundation has made substantial commitments to higher education institutions in its region, including multi-million dollar gifts to support scholarships, professorships, and research initiatives. Recent major gifts have supported institutions such as King University and the University of Kentucky, with funding directed toward innovative research, scholarship programs, and the advancement of academic excellence in the region.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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