The Life Foundation

Private foundation · Grantmaker Austin, TX EIN: 39-6606399

The Life Foundation is a private foundation, based in Austin, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.6M in total assets. In 2024, it awarded 3 grants totaling $60K. Net investment income was $64K.

Key facts about The Life Foundation

In short: The Life Foundation gave $60K across 3 grants in 2024 (avg $20K), mostly in Illinois. Source: 2024 IRS Form 990-PF.

EIN
39-6606399
Latest 990 filing
Form 990-PF, 2024
Annual giving (2024)
$60,000
Grants made (2024)
3
Average grant
$20,000
Median grant
$20,000
Total assets
$2,560,202
Primary geography
Illinois (67% of itemized 2024 grant dollars)

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

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$2.6M

+86.7% YoY

Annual Giving

$60K

-52.3% YoY

Grant Count

3

-25.0% YoY

Avg Grant Size

$20K

-36.4% YoY

Under IRS private-foundation payout rules, The Life Foundation reported a distributable amount of $54K for 2024 — the minimum it must pay out in qualifying distributions.

How The Life Foundation gives

  • Giving grew 50% from 2021 to 2024. Method
  • In 2024 it paid out 184% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

3states

Share of 2024 grant dollars across all 3 itemized grants.

Cities

AustinBurbankCaledoniaLincolnshire

Giving Over Time

Total grant dollars and number of grants per year

$0$50K$100K$150K1 grant2020 1 grant2021 0 grants2022 4 grants2023 3 grants2024

From 2020 to 2024, annual grant giving ranged from $40K (2021) to $126K (2023). In 2024 it made 3 grants totaling $60K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 3 recipients in 2024

Diocese of Austin: $20KDiocese of Austin$20KSt Albert the Great Catholic Church: $20KSt Albert the Great CatholicChurch$20KRelevant Radio: $20KRelevant Radio$20K

The largest 2024 recipient was Diocese of Austin ($20K). Together the top 3 received $60K.

Grant Size Distribution

9 grants across all recorded years

7<$50K2$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 7 grants of 9 (78%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Diocese of Austin Austin, TXGeneral$20,000
St Albert the Great Catholic Church Burbank, ILGeneral$20,000
Relevant Radio Lincolnshire, ILGeneral$20,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$200K$400K$600K2020 2021 2022 2023 2024
Metric202420232022
Total Assets$2,560,202$1,371,391$1,262,363
Revenue$61,375$-141,718$-472,715
Expenses$98,630$156,620$72,687
Qualifying Distributions$98,624$132,618$5,112
Net Investment Income$63,977$66,746$11,829
Distributable Amount$53,512$63,185$65,395

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS August 27, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 11, 2022)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS May 12, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS June 17, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS July 14, 2025)
  6. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Officers and directors from IRS filings

The Life Foundation is led by Brian R. Follett, Trustee on every filing since 2020 — the only officer listed, and uncompensated.

Officers on the 2024 filing

  • Brian R. Follett

    Trustee

    On filings since 2020

    No compensation reported

Former officers (1)
  • Former: Bernice Follett (2020–2022) — Trustee

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 Life Foundation

How much does The Life Foundation give each year?

The Life Foundation gave $60K across 3 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $126K across 4 grants.

What is The Life Foundation's typical grant size?

The Life Foundation's median grant in 2024 was $20,000, and its average grant was $20,000, across 3 grants on its 2024 IRS Form 990-PF.

Where does The Life Foundation give grants?

The Life Foundation gives mostly in Illinois: 67% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Texas (33%).

Does The Life Foundation give general operating support?

Yes: 100% of The Life Foundation's 2024 grants with a stated purpose (3 of 3) were for general or operating support, per its 2024 IRS Form 990-PF.

How large is The Life Foundation?

The Life Foundation reported $2.6M in total assets on its 2024 IRS Form 990-PF. It paid out $99K in qualifying distributions that year, against a required minimum of $54K (roughly 5% of its investment assets).

What is The Life Foundation's EIN?

The Life Foundation's EIN (Employer Identification Number) is 39-6606399. IRS Form 990 filing data is available on this page for 2020–2024.

Data last updated October 2026. Sourced from IRS Form 990-PF filings.

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