The CB and Fran Carter Foundation

Private foundation · Grantmaker Lubbock, TX EIN: 99-1544338

The CB and Fran Carter Foundation is a private foundation, based in Lubbock, TX. IRS filing data is available for 2024. As of 2024, the organization holds $7.9M in total assets. In 2024, it awarded 2 grants totaling $400K. Net investment income was $1.6M.

Key facts about The CB and Fran Carter Foundation

In short: The CB and Fran Carter Foundation gave $400K across 2 grants in 2024 (avg $200K), mostly in Texas. Source: 2024 IRS Form 990-PF.

EIN
99-1544338
Latest 990 filing
Form 990-PF, 2024
Annual giving (2024)
$399,500
Grants made (2024)
2
Average grant
$199,750
Median grant
$199,750
Total assets
$7,894,533
Primary geography
Texas (100% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$7.9M

Annual Giving

$400K

Grant Count

2

Avg Grant Size

$200K

Under IRS private-foundation payout rules, The CB and Fran Carter Foundation reported a distributable amount of $265K for 2024 — the minimum it must pay out in qualifying distributions.

How The CB and Fran Carter Foundation gives

  • In 2024 it paid out 163% of 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 2024 grant dollars across all 2 itemized grants.

States

Cities

Lubbock

Giving Over Time

Total grant dollars and number of grants per year

$0$100K$200K$300K$400K2 grants2024

In 2024 it made 2 grants totaling $400K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2024

Texas Tech University: $283KTexas Tech University$283KLubbock Christian University: $117KLubbock Christian University$117K

The largest 2024 recipient was Texas Tech University ($283K). Together the top 2 received $400K.

Grant Size Distribution

2 grants across all recorded years

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

The most common grant size was in the $100–250K range: 1 grant of 2 (50%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Texas Tech University Lubbock, TXCollege Scholarships$282,500
Lubbock Christian University Lubbock, TXCollege Scholarships$117,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$2.5M$5M$7.5M$10M2024
Metric2024
Total Assets$7,894,533
Revenue$8,361,846
Expenses$467,313
Qualifying Distributions$431,100
Net Investment Income$1,634,490
Distributable Amount$264,816

Data update history

When this profile's IRS filing data changed on Grantable

  1. IRS filings on file for fiscal year 2024

Leadership & Key People

Officers and directors from IRS filings

The CB and Fran Carter Foundation's only listed officer is Prosperity Bank, Trustee on the 2024 filing (compensated).

Officers on the 2024 filing

  • Prosperity Bank

    Trustee

    New on the 2024 filing

    5 hrs/week

    $31K (2024)

Data from IRS Form 990 filings, 2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Compensation Overview

From 2024 IRS filing

Prosperity Bank — Trustee: $31KProsperity BankTrustee$31K

The highest reported compensation on the 2024 filing was $31K, to Prosperity Bank (Trustee).

Frequently asked questions about The CB and Fran Carter Foundation

How much does The CB and Fran Carter Foundation give each year?

The CB and Fran Carter Foundation gave $400K across 2 grants in 2024, according to its 2024 IRS Form 990-PF.

How large is The CB and Fran Carter Foundation?

The CB and Fran Carter Foundation reported $7.9M in total assets on its 2024 IRS Form 990-PF. It paid out $431K in qualifying distributions that year, against a required minimum of $265K (roughly 5% of its investment assets).

Where does The CB and Fran Carter Foundation operate?

The CB and Fran Carter Foundation has awarded grants in Texas.

What is The CB and Fran Carter Foundation's EIN?

The CB and Fran Carter Foundation's EIN (Employer Identification Number) is 99-1544338. IRS Form 990 filing data is available on this page for 2024.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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