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
Under IRS private-foundation payout rules, The Karakin Foundation reported a distributable amount of $17.0M for 2024 — the minimum it must pay out in qualifying distributions.
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
Ready to take the next step with The Karakin Foundation?
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
Among its reported 2024 grants, the largest include Community Foundation of Abilene ($3,000,000), Abilene Youth Sports Authority ($1,000,000), Everfree ($500,000).
| Recipient | Purpose | Amount |
|---|---|---|
| 12TH ARMORED DIVISION MEMORIAL MUSEUM FOUNDATION ABILENE, TX | OPERATIONS | $30,000 |
| 4 PAWS FOR ABILITY INC XENIA, OH | OPERATIONS | $51,312 |
| ABILENE CHRISTIAN UNIVERSITY ABILENE, TX | BOUNDLESS: AN INTERCULTURAL EXHIBITION AND DIALOGUE EXHIBIT | $10,000 |
| ABILENE HOME AWAY FROM HOME ABILENE, TX | OPERATIONS | $2,000 |
| ABILENE INDEPENDENT SCHOOL DISTRICT ABILENE, TX | NAVAJO NATION SERVICE LEARNING TRIP | $5,000 |
| ABILENE PRESERVATION LEAGUE ABILENE, TX | ELKS ARTS CENTER | $175,000 |
| ABILENE YOUTH SPORTS AUTHORITY ABILENE, TX | SOCCER FIELDS | $1,000,000 |
| ADMIRAL NIMITZ FOUNDATION FREDERICKSBURG, TX | GALLERY EXPANSION | $300,000 |
| AFRICAN MISSION HEALTHCARE FOUNDATION DELAND, FL | GIDEL MOTHER OF MERCY HOSPITAL | $100,000 |
| ALL HANDS AND HEARTS SMART RESPONSE MATTAPOISETT, MA | DISASTER RELIEF | $150,000 |
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
Frequently Asked Questions
What does The Karakin Foundation fund?
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.
How do I apply for a grant from The Karakin Foundation?
The Karakin Foundation operates through trustee-discretionary grantmaking on an invitation-only basis. The foundation does not accept unsolicited requests for funds. **Grant Characteristics:** • Grant range: $6,000 to $1,500,000 • Median grant: $50,000 to $100,000 • Average grant: $131,000 • 2023 annual giving: $14.7 million across 129 grants • Since 2014, the foundation has awarded 498 individual grants totaling over $101 million **Recent Grant Examples (2023):** • Abilene Heritage Square: $1,…
Where does The Karakin Foundation make grants?
The Karakin Foundation primarily funds organizations in Texas and California, with a national scope of giving across the United States.
What size grants does The Karakin Foundation award?
In 2024, The Karakin Foundation awarded 121 grants totaling $16.4M — an average of about $135K per grant, based on its IRS Form 990 filings.
How much is The Karakin Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Karakin Foundation reported a distributable amount of $17.0M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Karakin Foundation's EIN?
The Karakin Foundation's EIN (Employer Identification Number) is 75-2692023. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Karakin Foundation's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
William Z Hayes Foundation
DALLAS, TX
Assets
$629K
Grants
4
Total Given
$28K
Tr Uw Jane James Cook Item 19
DALLAS, TX
Assets
$861K
Grants
11
Total Given
$41K
Forsyth Fbo Leonard Wood Memorial
DALLAS, TX
Assets
$320K
Grants
1
Total Given
$18K
Teas Foundation
AMARILLO, TX
Assets
$3.0M
Grants
3
Total Given
$138K
Crystelle Waggoner Charitable Trust
DALLAS, TX
Assets
$13.5M
Grants
41
Total Given
$3.9M
Nelson & Debbie Fox Charitable Fdtn
LUBBOCK, TX
Assets
$329K
Grants
9
Total Given
$90K
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with The Karakin Foundation on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching The Karakin Foundation to a real strategy.