The Paul and Carol David Foundation
The Paul and Carol David Foundation is a private 501(c)(3) foundation established in September 1980 and based in Canton, Ohio. The foundation was created by Paul and Carol David, who built Camelot Music into a nationally recognized music retail chain with over 400 stores before its sale in 1993. The foundation's creation was rooted in the David family's commitment to giving back to the community that supported their business success.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$62.4M
-1.7% YoY
Annual Giving
$2.9M
+19.8% YoY
Grant Count
84
+0.0% YoY
Avg Grant Size
$35K
+19.8% YoY
Mission & Focus Areas
The foundation's mission is to empower children and strengthen families by providing scholarships and grants in Stark County, Ohio. The foundation focuses its support on:
- Scholarships for students in Stark County based on character, need, academic achievement, and perseverance
- Grants to nonprofit organizations supporting children and families in areas including education, community development, health, and faith-based initiatives
The foundation prioritizes improving educational, community, and health opportunities for underprivileged and disadvantaged children in Stark County.
Grantmaking
The foundation offers grants to nonprofit organizations supporting children and families in Stark County.
Grant Range
approximately $7,500–$8,700
Average Grant
amount: approximately $38,100
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Geographic Focus
Where this funder awards grants
The foundation's giving is geographically limited to Stark County, Ohio, with primary focus on communities in Ohio, Pennsylvania, and Michigan.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total Assets: $62,379,378
- Total Revenue: $3,967,385
- Total Expenses: $5,041,685
- Net Income: -$1,074,300
- Total Liabilities: $0
- Total Giving: $2,900,139
As of December 2023:
- Total Assets: $63,459,105 (ledger value)
- Income: $9,565,546
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $62,379,378 | $63,459,105 | $62,295,477 |
| Revenue | $3,967,385 | $5,483,063 | $3,680,464 |
| Expenses | $5,041,685 | $4,314,506 | $4,802,541 |
| Qualifying Distributions | $3,456,149 | $2,931,271 | $3,468,319 |
| Net Investment Income | $2,612,215 | $3,049,221 | $2,071,956 |
| Distributable Amount | $3,661,847 | $3,308,446 | $3,500,047 |
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
201 grants across all recorded years
Open Grants
1 open opportunity from The Paul and Carol David Foundation
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Carol David – Chairperson (co-founder)
- Jeffrey David – President (35 hours/week, $170,000 compensation)
- Thomas G Knoll – Trustee
- Scott F Whetstone – Trustee ($24,000 compensation)
- Walt Stanislawski – Staff (40 hours/week, $247,000 compensation)
- Christy Melert – Staff (40 hours/week, $63,000 compensation)
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Carol David | Chairperson | 8 | — |
| Thomas G Knoll | Trustee | 2 | — |
| Jeffrey David | President | 35 | $220,320 |
| Scott F Whetstone | Trustee | 2 | $24,000 |
Recent News & Activity
Recent developments and announcements
The foundation celebrated the 70th Anniversary Camelot Music Reunion in September 2025, bringing together more than 250 former associates of Camelot Music to honor the shared history and enduring spirit of service that continues to inspire the foundation's mission.
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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