The Gheens Foundation Inc
staff-1.html type: exa:search title: Leadership & Staff type: exa:news title: "Gheens Foundation grants $50,000 gift to Family & Children\u2019s Place\ \ - Family & Children's Place" type: exa:news title: Gheens Foundation pledges $2M to University of Louisville type: exa:news title: Gheens Foundation pledges $2M to University of Louisville type: exa:news title: Gheens foundation bestows $2 million gift to University of Louisville - Lane Report | Kentucky Business & Economic News type: exa:news title: "UofL\u2019s Strategic Plan pushes forward with backing from Gheens Foundation\ \ - University of Louisville Foundation"
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$158.8M
+1.9% YoY
Annual Giving
$6.5M
-8.0% YoY
Grant Count
163
-7.4% YoY
Avg Grant Size
$40K
-0.6% YoY
Under IRS private-foundation payout rules, The Gheens Foundation Inc reported a distributable amount of $8.0M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation emphasizes:
- Higher and secondary education
- Ongoing teacher education
- Social service agencies
- Health associations
- Programs for the physically and mentally handicapped
- Cultural programs
Grantmaking
The foundation does not make grants to:
Review Cycle
(2026):**
How to Apply
**Eligibility Requirements:**
Ready to take the next step with The Gheens Foundation Inc?
Geographic Focus
Where this funder awards grants
The foundation distributes grants to qualifying organizations located in:
Kentucky:
- Metro Louisville area: Bullitt, Henry, Jefferson, Oldham, Shelby, Spencer, and Trimble counties
Indiana:
- Clark, Floyd, Harrison, and Washington counties
Louisiana:
- Lafourche and Terrebonne parishes (through the Bayou Community Foundation for qualifying organizations)
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending October 2024:
- Total Assets: $158,801,956
- Total Revenue: $14,936,657
- Total Expenses: $8,077,237
- Net Income: $6,859,420
- Net Assets: $157,270,759
- Total Liabilities: $1,530,000
Annual Giving: $6,468,623
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $158,801,956 | $155,890,260 | $156,828,907 |
| Revenue | $14,936,657 | $8,574,103 | $13,828,176 |
| Expenses | $8,077,237 | $7,180,138 | $10,379,392 |
| Qualifying Distributions | $7,252,236 | $7,797,266 | $8,577,691 |
| Net Investment Income | $14,371,656 | $8,102,449 | $13,169,732 |
| Distributable Amount | $7,956,724 | $7,742,275 | $8,304,461 |
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
250 grants across all recorded years
Open Grants
1 open opportunity from The Gheens Foundation Inc
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Fund for the Arts ($100,000), Americana Community Center Inc ($100,000), Family and Children's Place ($75,000).
| Recipient | Purpose | Amount |
|---|---|---|
| FUND FOR THE ARTS LOUISVILLE, KY | MISSION DELIVERY SUPPORT | $100,000 |
| 21ST CENTURY PARKS INC LOUISVILLE, KY | GENERAL OPERATIONS | $25,000 |
| ACADEMY OF MUSIC PRODUCTION EDUCATION AND DEVELOPMENT LOUISVILLE, KY | MISSION DELIVERY SUPPORT | $50,000 |
| TRIPLE TWELVE MINISTRIES INC LOUISVILLE, KY | GENERAL OPERATIONS - JUSTICE E.A.R. PROJECT - AJ LAW | $25,000 |
| ACTORS THEATRE OF LOUISVILLE LOUISVILLE, KY | MISSION DELIVERY SUPPORT | $10,000 |
| ADELANTE HISPANIC ACHIEVERS INC LOUISVILLE, KY | MENTORING AND ENRICHMENT: TRANSFORMANDO FUTUROS | $20,000 |
| AMERICAN RED CROSS LOUISVILLE, KY | AMERICAN RED CROSS KENTUCKY BLOOD CENTER COMPLEX | $50,000 |
| AMERICANA COMMUNITY CENTER INC LOUISVILLE, KY | AMERICANA YOUTH AND FAMILY EDUCATION PROGRAM | $100,000 |
| APPLE PATCH COMMUNITY INC CRESTWOOD, KY | ACCESSIBILITY FOR WEST LOUISVILLE DAY PROGRAM | $15,000 |
| AWAKE MINISTRIES SHELBYVILLE, KY | MISSION DELIVERY SUPPORT | $10,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Phoebe A. Wood - Chair of the Board of Trustees (as of January 1, 2026)
- Founder and CEO of KirtleyWood, a board governance advisory firm
- Principal of CompaniesWood, specializing in investing and advising early-stage companies
- Retired Vice Chair and Chief Financial Officer of Brown-Forman Corporation (24 years in financial leadership)
- Corporate director of Invesco Ltd., PPL Corporation, and Leggett & Platt
- Chair of the board of The American Printing House for the Blind
- Trustee emerita of Smith College
- Joined the Gheens Foundation as a Trustee in 2006
Michael B. Mountjoy - Chair and Chief Executive Officer
- Compensation: $89,000 (2024)
Barry G. Allen - President and Treasurer
- Compensation: $269,583 (2024)
Other Trustees:
- Laman A Gray JR MD
The foundation employs 3 staff members.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BARRY G ALLEN | PRESIDENT/TREASURER | 40 | $290,833 |
| MICHAEL B MOUNTJOY | TRUSTEE/CHAIR/CEO | 9 | $89,000 |
| JOHN R CROCKETT III | TRUSTEE/SECRETARY/COMP COMMITTEE CHAIR | 2 | $28,000 |
| PHOEBE A WOOD | TRUSTEE/INVESTMENT COMMITTEE CHAIR | 2 | $32,000 |
| LORI H FLANERY | TRUSTEE/AUDIT COMMITTEE CHAIR | 2 | $32,000 |
| CAROLYN W TANDY | TRUSTEE | 1.5 | $24,000 |
| JAMES J LANCASTER | TRUSTEE | 1.5 | $24,000 |
Recent News & Activity
Recent developments and announcements
The Gheens Foundation pledged $2 million to the University of Louisville to support the institution's strategic plan. The foundation has also made recent grants to organizations including Family & Children's Place ($50,000) and continues active grantmaking across its service regions.
Frequently Asked Questions
What does The Gheens Foundation Inc fund?
The foundation emphasizes: • Higher and secondary education • Ongoing teacher education • Social service agencies • Health associations • Programs for the physically and mentally handicapped • Cultural programs
How do I apply for a grant from The Gheens Foundation Inc?
• Typical award range: $250,000–$500,000 • Minimum grant application request: $10,000 • The foundation distributes approximately 5% of the average fair value of its non-charitable use assets annually **Eligibility Requirements:** • Organizations must be verified 501(c)(3) entities in good standing with the IRS and the Commonwealth of Kentucky • First-time applicants must have received more than $50,000 in gross unrestricted revenue per their most recent Form 990, or an average of $50,000 for th…
Where does The Gheens Foundation Inc make grants?
The foundation distributes grants to qualifying organizations located in: **Kentucky:** • Metro Louisville area: Bullitt, Henry, Jefferson, Oldham, Shelby, Spencer, and Trimble counties **Indiana:** • Clark, Floyd, Harrison, and Washington counties **Louisiana:** • Lafourche and Terrebonne parishes (through the Bayou Community Foundation for qualifying organizations)
What size grants does The Gheens Foundation Inc award?
In 2024, The Gheens Foundation Inc awarded 163 grants totaling $6.5M — an average of about $40K per grant, based on its IRS Form 990 filings.
How much is The Gheens Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Gheens Foundation Inc reported a distributable amount of $8.0M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Gheens Foundation Inc's EIN?
The Gheens Foundation Inc's EIN (Employer Identification Number) is 61-6031406. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Gheens Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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