The James B & Eileen M Kelly

Foundation · Grantmaker Traverse City, MI EIN: 22-2777470

EducationReligionHuman services

The James B & Eileen M Kelly is a private foundation focused on Education, based in Traverse City, MI. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $740K in total assets. In 2024, it awarded 2 grants totaling $19K. Net investment income was $38K.

Key facts about The James B & Eileen M Kelly

EIN: 22-2777470
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $19,000
Grants made (2024): 2
Average grant: $9,500
Median grant: $9,500
Total assets: $740,171
Primary geography: Michigan (100% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026.

How The James B & Eileen M Kelly gives

Giving fell 88% from 2021 to 2024. Method
In 2024 it paid out 37% 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.

Next steps with The James B & Eileen M Kelly

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$740K

+2.4% YoY

Annual Giving

$19K

Grant Count

Avg Grant Size

$10K

Under IRS private-foundation payout rules, The James B & Eileen M Kelly reported a distributable amount of $56K for 2024 — the minimum it must pay out in qualifying distributions.

About The James B & Eileen M Kelly

Based on IRS filings

Focus Areas

EducationReligionHuman services

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Michigan $19K (100%)

Share of all 2 itemized 2024 grant dollars.

States

District of Columbia Florida Michigan

Cities

FrankfortGaylordBenzoniaWashingtonBeulahTitusville

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$740,171	$723,093	$684,907
Revenue	$40,453	$41,488	$40,471
Expenses	$23,338	$5,798	$100,211
Qualifying Distributions	$20,826	$2,824	$100,031
Net Investment Income	$38,498	$38,553	$41,798
Distributable Amount	$56,137	$56,195	$66,821

Data update history

When this profile's IRS filing data changed on Grantable

March 2, 2026 IRS filings on file for fiscal years 2020–2024

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2024

Grant Size Distribution

12 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include The Diocese of Gaylord ($10,000), Elizabeth Lane Oliver Center for the Arts ($9,000).

Recipient	Purpose	Amount
THE DIOCESE OF GAYLORD Gaylord, MI	GENERAL PURPOSE	$10,000
ELIZABETH LANE OLIVER CENTER FOR THE ARTS Frankfort, MI	PROGRAMS FOR THE ADVANCEMENT OF THE ARTS	$9,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

No officer or director reported compensation in the available filings.

From 2024 IRS filing

Name	Title	Hours	Compensation
Eileen M Kelly	PR, Tr, Dir	0.25	—
Stephen R Kelly	VP, SC, Dir	0.25	—
Michael M Kelly	Dir, Tr	0.25	—

Subject Areas

Focus areas based on grantmaking activity

EducationReligionHuman services

Frequently Asked Questions

What is The James B & Eileen M Kelly?

The James B & Eileen M Kelly is a private foundation focused on Education, based in Traverse City, MI. It holds $740K in total assets as of 2024.

How large is The James B & Eileen M Kelly?

As of 2024, The James B & Eileen M Kelly holds $740K in total assets with $40K in annual revenue. It awarded 2 grants totaling $19K in 2024.

Where does The James B & Eileen M Kelly operate?

The James B & Eileen M Kelly has awarded grants in District of Columbia, Florida, Michigan.

What size grants does The James B & Eileen M Kelly award?

In 2024, The James B & Eileen M Kelly awarded 2 grants totaling $19K — an average of about $10K per grant, based on its IRS Form 990 filings.

How much is The James B & Eileen M Kelly required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, The James B & Eileen M Kelly reported a distributable amount of $56K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.