The Cb and Fran Carter Foundation

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.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$7.9M

Annual Giving

$400K

Grant Count

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.

About The Cb and Fran Carter Foundation

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Texas $400K (100%)

States

Texas

Cities

Lubbock

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024
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

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2024

Grant Size Distribution

2 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Texas Tech University ($282,500), Lubbock Christian University ($117,000).

Recipient	Purpose	Amount
TEXAS TECH UNIVERSITY LUBBOCK, TX	COLLEGE SCHOLARSHIPS	$282,500
LUBBOCK CHRISTIAN UNIVERSITY LUBBOCK, TX	COLLEGE SCHOLARSHIPS	$117,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
PROSPERITY BANK	TRUSTEE	5	$30,930

Frequently Asked Questions

How large is The Cb and Fran Carter Foundation?

As of 2024, The Cb and Fran Carter Foundation holds $7.9M in total assets with $8.4M in annual revenue. It awarded 2 grants totaling $400K in 2024.

Where does The Cb and Fran Carter Foundation operate?

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

What size grants does The Cb and Fran Carter Foundation award?

In 2024, The Cb and Fran Carter Foundation awarded 2 grants totaling $400K — an average of about $200K per grant, based on its IRS Form 990 filings.

How much is The Cb and Fran Carter Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, The Cb and Fran Carter Foundation reported a distributable amount of $265K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.