The Charles C Matthews Foundation

CARTHAGE, TX EIN: 75-2741045

The Charles C Matthews Foundation is a family foundation based in Carthage, Texas. The organization is structured as a private foundation with a focus on benefiting local communities through philanthropic giving.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$13.7M

+1.4% YoY

Annual Giving

$711K

-1.5% YoY

Grant Count

-10.0% YoY

Avg Grant Size

$39K

+9.4% YoY

Under IRS private-foundation payout rules, The Charles C Matthews Foundation reported a distributable amount of $902K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation's primary purpose is giving to benefit local communities. The foundation has demonstrated particular interest in education, including support for teacher preparation programs and educational institutions in the region.

Grantmaking

The foundation has made notable grants including:

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Geographic Focus

Where this funder awards grants

The foundation's giving is concentrated in the local Carthage and Panola County area of Texas, with a particular emphasis on supporting educational institutions and community organizations in this region.

Grant Distribution by State

Texas $3.3M (97%)

Tennessee $65K (2%)

Arkansas $23K (1%)

Florida $10K (0%)

Georgia $250 (0%)

States

Arkansas Florida Georgia Tennessee Texas

Cities

BeckvilleBraseltonCarthageClaytonDentonFayettevilleGaryMemphisTampaTylerWaco

Financial History

Multi-year comparison from IRS filings

Total Assets: $13,473,748
Annual Giving: $721,826
EIN: 75-2741045
Tax-Exempt Status: Since April 1999

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$13,666,132	$13,473,748	$13,918,510
Revenue	$1,323,608	$747,368	$705,313
Expenses	$1,125,498	$1,186,888	$1,195,684
Qualifying Distributions	$798,711	$813,626	$871,728
Net Investment Income	$727,913	$411,928	$379,314
Distributable Amount	$902,380	$802,718	$813,679

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

98 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Panola College ($350,000), Carthage Isd Foundation ($100,000), Beckville Isd Foundation ($67,832).

Recipient	Purpose	Amount
BECKVILLE ISD FOUNDATION BECKVILLE, TX	DONATION	$30,000
BECKVILLE ISD FOUNDATION BECKVILLE, TX	NEW SCOREBOARD & CLOCK	$67,832
CARTHAGE ISD ATHLETIC DEPT CARTHAGE, TX	DONATION	$3,500
CARTHAGE ISD FOUNDATION CARTHAGE, TX	SCHOLARSHIPS	$100,000
CLAYTON VOLUNTEER FIRE DEPT CLAYTON, TX	BRUSH TRUCK GIFT	$10,607
FIRST UNITED METHODIST CHURCH CARTHAGE, TX	DONATION - BUILDING FUND	$5,000
GARY INDEPENDENT SCHOOL DISTRICT GARY, TX	SCHOLARSHIPS	$20,000
PANOLA CNTY HIST & GENELOGICAL SCTY CARTHAGE, TX	DONATION	$30,500
PANOLA CO CANCER COALITION CARTHAGE, TX	DONATION	$10,000
PANOLA CO CATTLEMEN'S ASSOC CARTHAGE, TX	SCHOLARSHIPS	$4,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
ROBERT M UNDERWOOD	TRUSTEE	10	$65,000
RICHARD BALLENGER	TRUSTEE	7.5	$65,000
JIMMY D PAYNE	TRUSTEE	2.5	$65,000
DAVID BUSH	TRUSTEE	7.5	$65,000
VERMOYN D REEDER	TRUSTEE	2.5	$65,000

Recent News & Activity

Recent developments and announcements

The foundation established the Charles C. Matthews Foundation Teaching Scholarship at Panola College in anticipation of a partnership between Panola College and the University of Texas in Tyler. The scholarship supports students in the Associate of Arts in Teaching program, with preference given to students intending to pursue a baccalaureate teaching degree.

The Charles C. Matthews Foundation donates $100,000 to Carthage ISD Education

In recent years, the foundation donated $100,000 to the Carthage ISD Education Foundation, demonstrating continued commitment to educational support in the local school district.

The Charles C. Matthews Foundation donates $100,000 to Carthage ISD Education

Contact Information

Address: PO Box 1138, Carthage, TX 75633-7138
Telephone: 903-693-7837

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does The Charles C Matthews Foundation fund?

How do I apply for a grant from The Charles C Matthews Foundation?

**Financial Capacity:** • Total assets: $13,473,748 • Total annual giving: $721,826 **Recent Grants:** The foundation has made notable grants including: • $100,000 to the Carthage ISD Education Foundation • $10,000 to the Panola County Cancer Coalition • Establishment of the Charles C. Matthews Foundation Teaching Scholarship at Panola College to support students enrolled in the Associate of Arts in Teaching (AAT) program The foundation has demonstrated support for educational initiatives, part…

Where does The Charles C Matthews Foundation make grants?

What size grants does The Charles C Matthews Foundation award?

In 2024, The Charles C Matthews Foundation awarded 18 grants totaling $711K — an average of about $39K per grant, based on its IRS Form 990 filings.

How much is The Charles C Matthews Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, The Charles C Matthews Foundation reported a distributable amount of $902K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is The Charles C Matthews Foundation's EIN?

The Charles C Matthews Foundation's EIN (Employer Identification Number) is 75-2741045. IRS Form 990 filing data is available on this page for 2020–2024.