The Grace Foundation
The Grace Foundation is a private foundation, 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.
The Grace Foundation at a glance
In short: The Grace Foundation gave $8K across 6 grants in 2024 (avg $1K), mostly in North Carolina. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $7,500
- -95.9% vs 2023
- Grants made (2024)
- 6
- +0.0% vs 2023
- Average grant
- $1,250
- -95.9% vs 2023
- Median grant
- $500
- Total assets
- $352,497
- +3.7% vs 2023
- Primary geography
- North Carolina (87% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who The Grace Foundation funds
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
The largest 2024 recipient was WRTP-His ($5K). Together the top 6 received $8K.
Grant Size Distribution
24 grants across all recorded years
The most common grant size was under $50K: 23 grants of 24 (96%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 6 itemized grants.
Cities
How The Grace Foundation gives
- Giving fell 93% from 2021 to 2024. Method
- In 2024 it paid out 46% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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 2020 to 2024, annual grant giving ranged from $6K (2022) to $181K (2023). In 2024 it made 6 grants totaling $8K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| WRTP-His Raleigh, NC | General Fund | $5,000 |
| Western Carolina University Cullowhee, NC | Tuition | $500 |
| 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 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $352,497 | $31,476 | $18,767 | $7,500 | 6 | $7,500 | $10,928 | $16,358 |
| 2023 | $339,830 | $163,968 | $186,204 | $180,836 | 6 | $180,836 | $9,408 | $18,476 |
| 2022 | $362,110 | $5,583 | $11,961 | $6,000 | 2 | $6,000 | $3,122 | $18,048 |
| 2021 | $368,250 | $11,000 | $112,460 | $107,006 | 5 | $107,006 | $8,546 | $21,074 |
| 2020 | $469,710 | $-32,205 | $62,722 | $54,818 | 5 | — | $9,163 | $24,268 |
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.
Leadership & Key People
Officers and directors from IRS filings
The Grace Foundation is led by Charlene Hamlett, President on every filing since 2020 — the only officer listed, and uncompensated.
Officers on the 2024 filing
Charlene Hamlett
President
On filings since 2020
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "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 Grace Foundation
How much does The Grace Foundation give each year?
The Grace Foundation gave $8K across 6 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $181K across 6 grants.
What is The Grace Foundation's typical grant size?
The Grace Foundation's median grant in 2024 was $500, and its average grant was $1,250, across 6 grants on its 2024 IRS Form 990-PF.
Where does The Grace Foundation give grants?
The Grace Foundation gives mostly in North Carolina: 87% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were New York (7%) and Florida (7%). The most frequent recipient cities were Durham, NC (2 grants).
Does The Grace Foundation give general operating support?
Yes: 50% of The Grace Foundation's 2024 grants with a stated purpose (3 of 6) were for general or operating support, per its 2024 IRS Form 990-PF. Recurring purposes include "Tuition" (3 grants).
Who are The Grace Foundation's largest grantees?
The Grace Foundation's largest 2024 grantees include WRTP-His ($5,000), Western Carolina University ($500) and Immanuel FWBC ($500), according to its 2024 IRS Form 990-PF. Together they received 80% of its itemized 2024 grant dollars.
How large is The Grace Foundation?
The Grace Foundation reported $352K in total assets on its 2024 IRS Form 990-PF. It paid out $8K in qualifying distributions that year, against a required minimum of $16K (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 Grace Foundation's EIN?
The Grace Foundation's EIN (Employer Identification Number) is 56-2006078. IRS Form 990 filing data is available on this page for 2020–2024.
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 2020–2024
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