The Karakin Foundation is a private independent foundation established in May 1997 and based in Abilene, Texas. Designated as a 501(c)(3) organization, it operates as a grantmaking foundation focused on philanthropic activities. The foundation maintains a selective approach to grantmaking, distributing funds to preselected charitable organizations rather than accepting unsolicited applications.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$193.7M
+4.6% YoY
Annual Giving
$16.4M
+11.2% YoY
Grant Count
121
-6.2% YoY
Avg Grant Size
$135K
+18.5% YoY
Mission & Focus Areas
The Karakin Foundation focuses primarily on improving the quality of life for children and youth services. The foundation also supports initiatives in international affairs and human rights. Grant distributions emphasize education, human services, and philanthropic endeavors.
Grantmaking
The Karakin Foundation operates through trustee-discretionary grantmaking on an invitation-only basis. The foundation does not accept unsolicited requests for funds.
Grant Range
$6,000 to $1,500,000
Average Grant
$131,000
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Geographic Focus
Where this funder awards grants
The Karakin Foundation primarily funds organizations in Texas and California, with a national scope of giving across the United States.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total assets: $185,140,803
- Total revenues: $58,001,484
- Total expenses: $18,174,121
- Total liabilities: $390,000
As of 2024:
- Total assets: $193,655,902
- Total giving: $16,362,428
Historical Growth:
- Total assets have grown from $32.2 million in 2011 to $193.7 million in 2024
- Annual giving has decreased from $37.1 million in 2020 to $14.7 million in 2023
2023 Revenue Breakdown:
- Total grants and contributions: $24,570,598 (284.2% increase from 2022)
- Investment income and dividends: $4,338,206 (39.4% increase from 2022)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $193,655,902 | $185,140,803 | $145,162,912 |
| Revenue | $28,798,340 | $58,001,484 | $29,695,673 |
| Expenses | $20,245,695 | $18,174,121 | $17,446,254 |
| Qualifying Distributions | $16,906,784 | $15,270,941 | $13,996,276 |
| Net Investment Income | $26,334,413 | $30,252,561 | $20,625,511 |
| Distributable Amount | $17,040,576 | $14,240,405 | $13,594,773 |
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
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is governed by 5 officers and trustees. The principal officer is listed as Atkinson & Co Ltd. The foundation was founded by major donors Joseph B. Matthews and Julia Jones Matthews.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| KADE L MATTHEWS | CHAIRMAN/PRESIDENT | 4 | $113,750 |
| JOSEPH E CANON | EXECUTIVE VICE PRESIDENT / EXECUTIVE D | 11.67 | $104,076 |
| JOHN A MATTHEWS JR | VICE PRESIDENT | 3 | $65,000 |
| JEFF BLANKS | SENIOR VICE PRESIDENT/OPERATIONS OFFIC | 13.33 | $107,085 |
| AARON MILLER | VICE PRESIDENT/TREASURER/CFO | 4 | $63,484 |
| WATT R MATTHEWS | EXECUTIVE VICE PRESIDENT / CIO | — | — |
| ELYSE LEWIS | SECRETARY / SENIOR GRANTS OFFICER | — | — |
| BRENDA CASSELBERRY | PROPERTY / ADMINISTRATOR | — | — |
| MARGARET MATTHEWS FREDERICK | ASSISTANT VICE PRESIDENT / GRANTS | — | — |
| SARAH COMERFORD | GRANTS OFFICER | — | — |
Contact Information
Address: PO Box 2079, Abilene, TX 79604-2079
Phone: 325-673-6429
Website: No public website available
Application Process: The foundation does not maintain a public application process and only makes grants to preselected charitable organizations through trustee discretion.
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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