The CB and Fran Carter Foundation
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.
The CB and Fran Carter Foundation at a glance
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.
- 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)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who The CB and Fran Carter Foundation funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2024
The largest 2024 recipient was Texas Tech University ($283K). Together the top 2 received $400K.
Grant Size Distribution
2 grants across all recorded years
The most common grant size was in the $100–250K range: 1 grant of 2 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 2 itemized grants.
States
Cities
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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
In 2024 it made 2 grants totaling $400K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Texas Tech University Lubbock, TX | College Scholarships | $282,500 |
| Lubbock Christian University Lubbock, TX | College Scholarships | $117,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $7,894,533 | $8,361,846 | $467,313 | $399,500 | 2 | $431,100 | $1,634,490 | $264,816 |
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.
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
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.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal year 2024
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