The Discovery Fund
The Discovery Fund is a private foundation focused on Arts and culture, based in Fort Worth, TX. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $1.1M in total assets. In 2025, it made $3K in qualifying distributions. Net investment income was $44K.
The Discovery Fund at a glance
- Total assets
- $1,101,510
- +3.8% vs 2024
- Revenue (2025)
- $44,550
- -15.0% vs 2024
- Qualifying distributions (2025)
- $3,150
- +30.4% vs 2024
- Expenses (2025)
- $4,136
- +10.0% vs 2024
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|
| 2025 | $1,101,510 | $44,550 | $4,136 | $3,150 | $44,346 | $53,484 |
| 2024 | $1,061,096 | $52,433 | $3,760 | $2,415 | $52,433 | $51,277 |
| 2023 | $1,012,423 | $28,683 | $2,300 | $2,205 | $47,858 | $48,867 |
| 2022 | $983,165 | $15,937 | $1,716 | $1,716 | $15,937 | $47,673 |
| 2021 | $971,727 | $27,339 | $1,609 | $1,560 | $2,339 | $46,967 |
| 2020 | $945,932 | $9,296 | $1,496 | — | $9,296 | $46,224 |
Under IRS private-foundation payout rules, The Discovery Fund reported a distributable amount of $53K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Discovery Fund is led by Paul Coulter, Secretary, Treasurer & Acting President since 2022 (on filings since 2020); none of the 2 officers listed in 2025 report compensation.
Officers on the 2025 filing
Paul Coulter
Secretary, Treasurer & Acting President
Vice President, Secretary & Treasurer → Secretary, Treasurer & Acting President, 2022
On filings since 2020
1 hr/week
No compensation reported
Peter Philpott
Director
On filings since 2020
1 hr/week
No compensation reported
Former officers (1)
- Former: Lucy Darden (2020–2021) — Chairman of the Board & President
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Discovery Fund
How large is The Discovery Fund?
The Discovery Fund reported $1.1M in total assets on its 2025 IRS Form 990-PF. It paid out $3K in qualifying distributions that year, against a required minimum of $53K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is The Discovery Fund?
The Discovery Fund is a private foundation focused on Arts and culture, based in Fort Worth, TX. It holds $1.1M in total assets as of 2025.
What is The Discovery Fund's EIN?
The Discovery Fund's EIN (Employer Identification Number) is 75-1989523. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS October 18, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS April 18, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 2, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 7, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS April 23, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
Live grants for the work The Discovery Fund funds
Education Open opportunities, soonest deadline first.
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