The Franklin E & Martha Covington King Memorial Tr
The Franklin E & Martha Covington King Memorial Tr is a private foundation focused on Education, based in Greenwood, SC. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $305K in total assets. Net investment income was $23K.
The Franklin E & Martha Covington King Memorial Tr at a glance
- Total assets
- $304,787
- +2.3% vs 2024
- Revenue (2025)
- $30,186
- +75.2% vs 2024
- Net investment income (2025)
- $22,957
- +120.3% vs 2024
- Expenses (2025)
- $7,230
- -68.9% vs 2024
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Franklin E & Martha Covington King Memorial Tr funds
How this funder distributes its grants
Grant Size Distribution
4 grants across all recorded years
The most common grant size was under $50K: 4 grants of 4 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
How The Franklin E & Martha Covington King Memorial Tr gives
- Giving held roughly steady from 2021 to 2024 (−6%). Method
- In 2023 it paid out 110% 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
From 2021 to 2024, annual grant giving ranged from $16K (2024) to $27K (2022). In 2024 it made 1 grant totaling $16K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Lander Foundation Greenwood, SC | To Provide Scholarships | $16,473 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2025 | $304,787 | $30,186 | $7,230 | — | — | — | $22,957 | $16,976 |
| 2024 | $297,933 | $17,229 | $23,279 | $16,473 | 1 | — | $10,423 | $16,474 |
| 2023 | $303,814 | $8,442 | $25,786 | $18,159 | 1 | $18,159 | $815 | $16,473 |
| 2022 | $321,158 | $39,216 | $36,414 | $27,260 | 1 | $27,260 | $30,062 | $18,159 |
| 2021 | $318,356 | $55,292 | $25,142 | $17,502 | 1 | — | $47,652 | $27,260 |
Under IRS private-foundation payout rules, The Franklin E & Martha Covington King Memorial Tr reported a distributable amount of $17K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Franklin E & Martha Covington King Memorial Tr's 2025 filing lists 3 officers; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
James Welch
Trustee
On filings since 2021
$2K (2021) → $0 (2025)
Margaret B. Welch
Trustee
On filings since 2021
$2K (2021) → $0 (2025)
The Lander Foundation
Trustee
On filings since 2021
No compensation reported
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2021 IRS filing
The highest reported compensation on the 2021 filing was $2K, to Margaret B Welch (Trustee). 2 officers or directors reported compensation on that filing.
Frequently asked questions about The Franklin E & Martha Covington King Memorial Tr
How large is The Franklin E & Martha Covington King Memorial Tr?
The Franklin E & Martha Covington King Memorial Tr reported $305K in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $30K.
What is The Franklin E & Martha Covington King Memorial Tr?
The Franklin E & Martha Covington King Memorial Tr is a private foundation focused on Education, based in Greenwood, SC. It holds $305K in total assets as of 2025.
Where does The Franklin E & Martha Covington King Memorial Tr operate?
The Franklin E & Martha Covington King Memorial Tr has awarded grants in South Carolina.
How much is The Franklin E & Martha Covington King Memorial Tr required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, The Franklin E & Martha Covington King Memorial Tr reported a distributable amount of $17K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Franklin E & Martha Covington King Memorial Tr's EIN?
The Franklin E & Martha Covington King Memorial Tr's EIN (Employer Identification Number) is 58-6347523. IRS Form 990 filing data is available on this page for 2021–2025.
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 years 2021–2025
Live grants for the work The Franklin E & Martha Covington King Memorial Tr funds
Education Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in The Franklin E & Martha Covington King Memorial Tr's focus areas in our free grants database
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