The Grace Foundation

FAYETTEVILLE, NC EIN: 56-2006078

The Grace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in FAYETTEVILLE, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $352K in total assets. In 2024, it awarded 6 grants totaling $8K. Net investment income was $11K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$352K

+3.7% YoY

Annual Giving

$8K

-95.9% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$1K

-95.9% YoY

Under IRS private-foundation payout rules, The Grace Foundation reported a distributable amount of $16K for 2024 — the minimum it must pay out in qualifying distributions.

About The Grace Foundation

Based on IRS filings

Focus Areas

Philanthropy, Voluntarism & Grantmaking

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

North Carolina $351K (99%)

Maryland $3K (1%)

Virginia $2K (0%)

Florida $500 (0%)

New York $500 (0%)

States

Florida Maryland North Carolina New York Virginia

Cities

ClintonCullowheeDurhamFayettevillePensacolaRaleighRochesterRoxboroVirginia Beach

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$352,497	$339,830	$362,110
Revenue	$31,476	$163,968	$5,583
Expenses	$18,767	$186,204	$11,961
Qualifying Distributions	$7,500	$180,836	$6,000
Net Investment Income	$10,928	$9,408	$3,122
Distributable Amount	$16,358	$18,476	$18,048

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 6 recipients in 2024

Grant Size Distribution

24 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Wrtp-his ($5,000), Western Carolina University ($500), Immanuel Fwbc ($500).

Recipient	Purpose	Amount
WESTERN CAROLINA UNIVERSITY CULLOWHEE, NC	TUITION	$500
WRTP-HIS RALEIGH, NC	GENERAL FUND	$5,000
IMMANUEL FWBC DURHAM, NC	GENERAL	$500
EASTMAN SCHOOL OF MUSIC ROCHESTER, NY	TUITION	$500
PENSACOLA CHRISTIAN COLLEGE PENSACOLA, FL	TUITION	$500
GRACE MINISTRIES OF DURHAM NC DURHAM, NC	GENERAL	$500

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
CHARLENE HAMLETT	PRESIDENT	—	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is The Grace Foundation?

The Grace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in FAYETTEVILLE, NC. It holds $352K in total assets as of 2024.

How large is The Grace Foundation?

As of 2024, The Grace Foundation holds $352K in total assets with $31K in annual revenue. It awarded 6 grants totaling $8K in 2024.

Where does The Grace Foundation operate?

The Grace Foundation has awarded grants in Florida, Maryland, North Carolina, New York, Virginia.

What size grants does The Grace Foundation award?

In 2024, The Grace Foundation awarded 6 grants totaling $8K — an average of about $1K per grant, based on its IRS Form 990 filings.

How much is The Grace Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, The Grace Foundation reported a distributable amount of $16K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.