The Lockett Foundation Inc
The Lockett Foundation Inc is a private foundation based in Vernon, Texas. It reported 10 grants totaling $117,625 in 2025, including support for scholarships, an endowment trust, and organizational operations.
The Lockett Foundation Inc at a glance
In short: The Lockett Foundation Inc gave $118K across 10 grants in 2025 (avg $12K), mostly in Texas. 10% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $117,625
- +4.0% vs 2024
- Grants made (2025)
- 10
- +0.0% vs 2024
- Average grant
- $11,763
- +4.0% vs 2024
- Median grant
- $2,000
- Total assets
- $2,296,207
- -0.9% vs 2024
- New grantees (estimate)
- 10% first-time grantees (1 of 10, 2025; small sample)
- Primary geography
- Texas (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Lockett Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: PO Box 1331, Vernon, TX 76385-1331
Phone: (940) 552-5481
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Lockett Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Texas Tech Foundation ($56K). Together the top 10 received $118K.
Grant Size Distribution
47 grants across all recorded years
The most common grant size was under $50K: 44 grants of 47 (94%).
Geographic Focus
Where this funder awards grants
All grant dollars in 2025 went to recipients in Texas.
Grant Distribution by State
Share of 2025 grant dollars across all 10 itemized grants.
States
Cities
Is The Lockett Foundation Inc open to new grantees?
10%
first-time grantees, 2025
In 2025, 1 of 10 grantees (10%) were first-time recipients. With only 10 grantees, that is a small sample: one grantee more or less moves the share by about 10 points. First grants averaged $2K; repeat grants $13K. How we count
Medians: $2K first-time, $2K repeat.
- 90% of 2025 grantees were also funded in 2024. Method
- Giving grew 95% from 2022 to 2025. Method
- In 2025 it paid out 95% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $16K (2020) to $118K (2025). In 2025 it made 10 grants totaling $118K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Texas Tech Foundation Lubbock, TX | Scholarship | $56,125 |
| Texas Tech Alumni Association (TTAA) Lubbock, TX | Endowment Trust | $40,000 |
| Boys & Girls Club of Vernon Vernon, TX | Operation | $5,500 |
| Vernon College Vernon, TX | Operation | $5,000 |
| Admiral Nimitz Foundation Fredericksburg, TX | Operation | $2,000 |
| Blanco Education Foundation Blanco, TX | Operation | $2,000 |
| Gillespie County Historical Society Fredericksburg, TX | Operation | $2,000 |
| Holy Ghost Lutheran Church Fredericksburg, TX | Operation | $2,000 |
| Ronald McDonald House Lubbock, TX | Operation | $2,000 |
| Red River Valley Museum Vernon, TX | Operation | $1,000 |
Ready to take the next step with The Lockett Foundation Inc?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $2,296,207 | $100,619 | $121,245 | $117,625 | 10 | $118,600 | $96,726 | $125,264 |
| 2024 | $2,316,833 | $123,717 | $115,211 | $113,050 | 10 | $113,925 | $120,165 | $118,501 |
| 2023 | $2,308,327 | $33,922 | $74,086 | $72,125 | 9 | $72,868 | $29,555 | $113,781 |
| 2022 | $2,348,491 | $36,723 | $90,401 | $60,300 | 9 | $60,875 | $34,216 | $118,411 |
| 2021 | $2,402,169 | $2,083,923 | $100,787 | $97,000 | 9 | $97,000 | $2,069,816 | $14,678 |
| 2020 | $419,032 | $15,746 | $18,786 | $15,900 | 7 | — | $13,824 | $97,365 |
| 2019 | $422,072 | $33,728 | $20,906 | $16,200 | 7 | — | $26,515 | $16,283 |
Under IRS private-foundation payout rules, The Lockett Foundation Inc reported a distributable amount of $125K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2025 grants show support for educational institutions and foundations, youth services, museums and historical organizations, a church, and a family-support organization. The Admiral Nimitz Foundation describes its work as supporting a museum that educates visitors about World War II in the Asiatic Pacific Theater; Ronald McDonald House says it provides services to strengthen families when children need healthcare. The Gillespie County Historical Society describes managing museums, promoting historical knowledge, and caring for historic structures and collections. Red River Valley Museum describes its work as preserving and exhibiting artifacts related to Vernon and Wilbarger County.
Grantmaking
In 2025, the foundation gave 10 grants totaling $117,625. Grant amounts ranged from $1,000 to $56,125, with a median of $2,000. The largest grants were $56,125 to Texas Tech Foundation for scholarships and $40,000 to Texas Tech Alumni Association for an endowment trust. Other grants included $5,500 to Boys & Girls Club of Vernon and $5,000 to Vernon College, both for operations; $2,000 each to Admiral Nimitz Foundation, Blanco Education Foundation, Gillespie County Historical Society, Holy Ghost Lutheran Church, and Ronald McDonald House; and $1,000 to Red River Valley Museum. The $2,000 grants and the $1,000 grant were for operations.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Linda Lockett Cheslak as President, Michael N Underwood as Vice-President, and Stephen Brantley and Robert Lightfoot as Trustees.
The Lockett Foundation Inc is led by Linda Lockett Cheslak, President on every filing since 2019; none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
Linda Lockett Cheslak
President
On filings since 2019
No compensation reported
Robert Lightfoot
Trustee
On filings since 2019
No compensation reported
Stephen Brantley
Trustee
On filings since 2019
No compensation reported
Michael N Underwood
Vice President
On filings since 2019
No compensation reported
Data from IRS Form 990 filings, 2019–2025. "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 Lockett Foundation Inc
How much does The Lockett Foundation Inc give each year?
The Lockett Foundation Inc gave $118K across 10 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $113K across 10 grants.
What is The Lockett Foundation Inc's typical grant size?
The Lockett Foundation Inc's median grant in 2025 was $2,000, and its average grant was $11,763, across 10 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Lockett Foundation Inc that year got $2K on average.
Where does The Lockett Foundation Inc give grants?
The Lockett Foundation Inc gives mostly in Texas: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Lubbock, TX (3 grants), Vernon, TX (3 grants) and Fredericksburg, TX (3 grants).
Does The Lockett Foundation Inc give general operating support?
Not in 2025: none of the 10 grants with a stated purpose on The Lockett Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Operation" (8 grants).
Who are The Lockett Foundation Inc's largest grantees?
The Lockett Foundation Inc's largest 2025 grantees include Texas Tech Foundation ($56,125), Texas Tech Alumni Association (TTAA) ($40,000) and Boys & Girls Club of Vernon ($5,500), according to its 2025 IRS Form 990-PF. Together they received 86% of its itemized 2025 grant dollars.
How large is The Lockett Foundation Inc?
The Lockett Foundation Inc reported $2.3M in total assets on its 2025 IRS Form 990-PF. It paid out $119K in qualifying distributions that year, against a required minimum of $125K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does The Lockett Foundation Inc fund?
No mission statement for the foundation is provided. Its 2025 grants show support for educational institutions and foundations, youth services, museums and historical organizations, a church, and a family-support organization. See mission & focus areas ↑
How do I apply for a grant from The Lockett Foundation Inc?
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Lockett Foundation Inc's EIN?
The Lockett Foundation Inc's EIN (Employer Identification Number) is 75-1534079. IRS Form 990 filing data is available on this page for 2019–2025.
Does The Lockett Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2024 (received by the IRS April 29, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS May 7, 2026)
- Added Form 990-PF for fiscal year 2019 (received by the IRS April 28, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS June 8, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 10, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 5, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 8, 2024)
Explore Open Grants
Browse active grant opportunities in The Lockett Foundation Inc's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
Enterprise Holdings Foundation
Saint Louis, MO
The Enterprise Holdings Foundation supports charitable and educational nonprofits in communities where Enterprise Mobility operates, focusing on health, education, arts, and disaster relief; applicants must be actively supported by an Enterprise Mobility team member, spouse, or domestic partner. Giving varies widely: it reported 9,499 grants in 2024, but its 2025 filing showed one grant of $101.4 million, so that amount is not a typical award. Applications are accepted at any time through eligible Enterprise-affiliated applicants; the Foundation does not limit giving to preselected organizations.
Assets
$594.3M
Grants
1
Total Given
$101.4M
Joe & Nan Johnson Family Foundation
Wichita Falls, TX
The Joe & Nan Johnson Family Foundation’s 2024 grants supported charitable funds and organizations, including hospice, community foundations, and a church, with funding directed to California, Texas, and Indiana. Grants ranged from $1,000 to $990,000, with a median of $25,500; its 2024 return was marked final, so grantmaking appears to have ended. That filing said applicants could request an application form from Nan H Johnson, but this instruction may no longer be current.
Assets
—
Grants
9
Total Given
$1.3M
Stai Family Foundation
Fredericksburg, TX
The Stai Family Foundation supports a varied mix of charitable organizations, including museums, youth programs, churches, and food and social-service organizations, with nearly all reported giving going to Texas. In 2025, its 11 grants ranged from $200 to $10,000, with a median of $5,000. It gives only to preselected organizations and does not accept unsolicited funding requests.
Assets
$350K
Grants
11
Total Given
$46K
Dian Graves Owen Foundation
Abilene, TX
The Dian Graves Owen Foundation supports cultural, educational, community, and recreational organizations, primarily in Texas. Its 2024 grants ranged from $400 to $4 million, with a median of $20,000. It funds only preselected charitable organizations and does not accept unsolicited requests.
Assets
$194.8M
Grants
202
Total Given
$24.1M
Carruth Family Foundation
Fredericksburg, TX
The Carruth Family Foundation supports a range of charitable work, including ministry, youth agricultural education, museums, and scholarships. In 2024, it made 12 grants totaling $500,000, ranging from $2,000 to $125,000; most funding went to organizations in Texas, with additional grants in South Carolina and Tennessee. It funds only preselected organizations and does not accept unsolicited requests.
Assets
$9.7M
Grants
12
Total Given
$500K
Sherrill Family Foundation Inc
Austin, TX
The foundation supports organizations involved in history and education, arts and music, youth activities, and community services, with most 2024 grants going to Texas recipients and the rest to Colorado. Its 15 grants ranged from $1,000 to $15,000, with a median of $2,500. It gives only to preselected organizations and does not accept unsolicited requests.
Assets
$1.0M
Grants
15
Total Given
$62K
More similar funders
More Funders in Texas
Cite this profile
Grantable. (2026). The Lockett Foundation Inc funder profile. GrantGraph. Retrieved October 15, 2026, from https://grantable.co/funders/the-lockett-foundation-inc-morg_e417b1b3483847f5b885e71c3260a82f
BibTeX
@misc{grantable_751534079_2026,
author = {{Grantable}},
title = {{The Lockett Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-lockett-foundation-inc-morg_e417b1b3483847f5b885e71c3260a82f},
note = {Accessed 2026-10-15. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from The Lockett Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
The Lockett Foundation Inc down — hundreds of funders to go?