The Jerald & Kay Thomas Foundation
The Jerald & Kay Thomas Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Lubbock, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $137K in total assets. In 2024, it awarded 16 grants totaling $8K. Net investment income was $4K.
Key facts about The Jerald & Kay Thomas Foundation
- EIN
- 74-2982555
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $8,000
- Grants made (2024)
- 16
- Average grant
- $500
- Median grant
- $300
- New grantees (estimate)
- 13% first-time grantees (2 of 16, 2024)
- Total assets
- $137,342
- Primary geography
- Texas (38% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who The Jerald & Kay Thomas Foundation funds
By grant dollars, the top recipient states for The Jerald & Kay Thomas Foundation's 16 itemized 2024 grants were Texas (38%), North Carolina (19%) and New York (19%). The most frequent recipient cities were Lubbock, TX (4 grants). None of its 16 grants with a stated purpose were described as general or operating support.
Is The Jerald & Kay Thomas Foundation open to new grantees?
13%
first-time grantees, 2024
In 2024, 2 of 16 grantees (13%) were first-time recipients. First grants averaged $300; repeat grants $529. How we count
Medians: $300 first-time, $300 repeat.
- 81% of 2024 grantees were also funded in 2023. Method
- Giving fell 22% from 2021 to 2024. Method
- In 2024 it paid out 82% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with The Jerald & Kay Thomas Foundation
- How to evaluate The Jerald & Kay Thomas Foundation as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$137K
-2.9% YoY
Annual Giving
$8K
-3.6% YoY
Grant Count
16
+6.7% YoY
Avg Grant Size
$500
-9.6% YoY
Under IRS private-foundation payout rules, The Jerald & Kay Thomas Foundation reported a distributable amount of $10K for 2024 — the minimum it must pay out in qualifying distributions.
About The Jerald & Kay Thomas Foundation
Based on IRS filings
The Jerald & Kay Thomas Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Lubbock, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $137K in total assets. In 2024, it awarded 16 grants totaling $8K. Net investment income was $4K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 16 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $137,342 | $141,389 | $147,982 |
| Revenue | $8,720 | $6,500 | $10,409 |
| Expenses | $12,843 | $13,247 | $21,653 |
| Qualifying Distributions | $8,000 | $8,300 | $8,100 |
| Net Investment Income | $3,877 | $1,553 | — |
| Distributable Amount | $9,704 | $4,976 | $5,790 |
Data update history
When this profile's IRS filing data changed on Grantable
- 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 10 recipients in 2024
Grant Size Distribution
85 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Samaritan's Purse ($1,500), Tunnels to Tower ($1,500), Mercy Ships ($1,000).
| Recipient | Purpose | Amount |
|---|---|---|
| SAMARITAN'S PURSE Boone, NC | CHRISTIAN MINISTRY | $1,500 |
| TUNNELS TO TOWER Staten Island, NY | WOUNDED VETERANS | $1,500 |
| MERCY SHIPS Garden Valley, TX | MEDICAL SUPPORT | $1,000 |
| WOUNDED WARRIOR PROJECT San Antonio, TX | MILITARY | $500 |
| ALZHEIMER'S ASSOCIATON Chicago, IL | FIGHTING ALZHEIMERS | $300 |
| AMERICAN CANCER SOCIETY Lubbock, TX | CANCER RESEARCH AND AWARENESS | $300 |
| AMERICAN HEART ASSOCIATION Dallas, TX | HEART HEALTH | $300 |
| AMERICAN LUNG ASSOCIATION Oklahoma City, OK | LUNG HEALTH | $300 |
| MEALS ON WHEELS Lubbock, TX | FOOD FOR NEEDY | $300 |
| OUR DAILY BREAD Grand Rapids, MI | CHARITABLE | $300 |
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 |
|---|---|---|---|
| Jerald Thomas | President | — | — |
| Kay Thomas | Secretary | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Jerald & Kay Thomas Foundation?
The Jerald & Kay Thomas Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Lubbock, TX. It holds $137K in total assets as of 2024.
How large is The Jerald & Kay Thomas Foundation?
As of 2024, The Jerald & Kay Thomas Foundation holds $137K in total assets with $9K in annual revenue. It awarded 16 grants totaling $8K in 2024.
Where does The Jerald & Kay Thomas Foundation operate?
The Jerald & Kay Thomas Foundation has awarded grants in District of Columbia, Florida, Georgia, Illinois, Kansas, Michigan, North Carolina, New Mexico, New York, Oklahoma, Tennessee, Texas.
What size grants does The Jerald & Kay Thomas Foundation award?
In 2024, The Jerald & Kay Thomas Foundation awarded 16 grants totaling $8K — an average of about $500 per grant, based on its IRS Form 990 filings.
How much is The Jerald & Kay Thomas Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Jerald & Kay Thomas Foundation reported a distributable amount of $10K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Jerald & Kay Thomas Foundation's EIN?
The Jerald & Kay Thomas Foundation's EIN (Employer Identification Number) is 74-2982555. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.