The Philip & Helen Pitts Foundation
The Philip & Helen Pitts Foundation is a private foundation, based in Morganton, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $892K in total assets. In 2024, it awarded 1 grant totaling $91K. Net investment income was $57K.
Key facts about The Philip & Helen Pitts Foundation
In short: The Philip & Helen Pitts Foundation gave $91K across 1 grant in 2024 (avg $91K), mostly in North Carolina. Source: 2024 IRS Form 990-PF.
- EIN
- 45-4128262
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $90,500
- Grants made (2024)
- 1
- Average grant
- $90,500
- Median grant
- $90,500
- Total assets
- $891,857
- Primary geography
- North Carolina (100% 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
$892K
-4.3% YoY
Annual Giving
$91K
-2.2% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$91K
-2.2% YoY
Under IRS private-foundation payout rules, The Philip & Helen Pitts Foundation reported a distributable amount of $94K for 2024 — the minimum it must pay out in qualifying distributions.
How The Philip & Helen Pitts Foundation gives
- Giving grew 31% from 2021 to 2024. Method
- In 2024 it paid out 96% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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
Share of the 2024 grant dollars on its one itemized grant.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $69K (2020) to $93K (2023). In 2024 it made 1 grant totaling $91K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was First United Methodist Church ($91K).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $50–100K range: 5 grants of 5 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| First United Methodist Church Morganton, NC | Building Preservation Fund | $90,500 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $891,857 | $932,313 | $948,632 |
| Revenue | $61,772 | $87,320 | $36,924 |
| Expenses | $102,228 | $103,639 | $84,595 |
| Qualifying Distributions | $90,500 | $92,500 | $75,000 |
| Net Investment Income | $56,621 | $82,448 | $41,002 |
| Distributable Amount | $94,427 | $90,687 | $91,903 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 12, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 6, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS October 24, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS August 12, 2025)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Officers and directors from IRS filings
The Philip & Helen Pitts Foundation's 2024 filing lists 2 officers; all 2 officers listed in 2024 are compensated.
Officers on the 2024 filing
Clinton H. Lytle
Executive Trustee
On filings since 2020
1 hr/week
$2K (2020) → $4K (2024)
James Conley Mitchell III
Executive Trustee
On filings since 2020
1 hr/week
$2K (2020) → $4K (2024)
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.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $4K, to Clinton H Lytle (Executive Trustee). 2 officers or directors reported compensation on that filing.
Frequently asked questions about The Philip & Helen Pitts Foundation
How much does The Philip & Helen Pitts Foundation give each year?
The Philip & Helen Pitts Foundation gave $91K across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $93K across 1 grant.
How large is The Philip & Helen Pitts Foundation?
The Philip & Helen Pitts Foundation reported $892K in total assets on its 2024 IRS Form 990-PF. It paid out $91K in qualifying distributions that year, against a required minimum of $94K (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.
Where does The Philip & Helen Pitts Foundation operate?
The Philip & Helen Pitts Foundation has awarded grants in North Carolina.
What is The Philip & Helen Pitts Foundation's EIN?
The Philip & Helen Pitts Foundation's EIN (Employer Identification Number) is 45-4128262. 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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