The Sheperds Foundation
The Sheperds Foundation is a private foundation, based in Franklin, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $23.3M in total assets. In 2024, it awarded 5 grants totaling $3.9M. Net investment income was $2.2M.
The Sheperds Foundation at a glance
In short: The Sheperds Foundation gave $3.9M across 5 grants in 2024 (avg $773K), mostly in Tennessee. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $3,865,347
- +3121.1% vs 2023
- Grants made (2024)
- 5
- +25.0% vs 2023
- Average grant
- $773,069
- +2476.9% vs 2023
- Median grant
- $20,000
- Total assets
- $23,292,852
- -14.0% vs 2023
- Primary geography
- Tennessee (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who The Sheperds Foundation funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
The largest 2024 recipient was The Mike and Teresa Foundation ($3.1M). Together the top 5 received $3.9M.
Grant Size Distribution
9 grants across all recorded years
The most common grant size was under $50K: 5 grants of 9 (56%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 5 itemized grants.
Cities
How The Sheperds Foundation gives
- In 2024 it paid out 305% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2023 to 2024, annual grant giving ranged from $120K (2023) to $3.9M (2024). In 2024 it made 5 grants totaling $3.9M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Mike and Teresa Foundation Franklin, TN | Charitable | $3,105,347 |
| Diocese of Nashville Nashville, TN | Legacy Campaign | $710,000 |
| Fourteenth Avenue Baptist Nashville, TN | Operating Fund | $20,000 |
| Hunter Garstin Nashville, TN | Medical Costs | $20,000 |
| Fadica Washington, DC | Operating Fund | $10,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $23,292,852 | $3,189,301 | $4,178,022 | $3,865,347 | 5 | $3,865,347 | $2,154,184 | $1,268,068 |
| 2023 | $27,100,324 | $618,865 | $369,752 | $120,000 | 4 | $120,000 | $659,737 | $979,968 |
| 2022 | $26,165,384 | $4,017,707 | $206,901 | — | — | — | $378,898 | $862,162 |
| 2021 | $22,977,734 | $5,908,030 | $207,738 | — | — | — | $843,789 | $611,473 |
| 2020 | $19,009,970 | $5,003,075 | $121,826 | — | — | — | — | $369,567 |
Under IRS private-foundation payout rules, The Sheperds Foundation reported a distributable amount of $1.3M for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Sheperds Foundation is led by Michael J. Nacarato Jr., President on every filing since 2020; none of the 3 officers listed in 2024 report compensation.
Officers on the 2024 filing
Michael J. Nacarato Jr.
President
On filings since 2020
1 hr/week
No compensation reported
Michael J. Nacarato IV
Director
On filings since 2020
0.3 hrs/week
No compensation reported
Teresa A. Nacarato
Secretary
On filings since 2020
2 hrs/week
No compensation reported
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 Sheperds Foundation
How much does The Sheperds Foundation give each year?
The Sheperds Foundation gave $3.9M across 5 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $120K across 4 grants.
What is The Sheperds Foundation's typical grant size?
The Sheperds Foundation's median grant in 2024 was $20,000, and its average grant was $773,069, across 5 grants on its 2024 IRS Form 990-PF.
Where does The Sheperds Foundation give grants?
The Sheperds Foundation gives mostly in Tennessee: 100% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Nashville, TN (3 grants).
Does The Sheperds Foundation give general operating support?
Yes: 40% of The Sheperds Foundation's 2024 grants with a stated purpose (2 of 5) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are The Sheperds Foundation's largest grantees?
The Sheperds Foundation's largest 2024 grantees include The Mike and Teresa Foundation ($3,105,347), Diocese of Nashville ($710,000) and Fourteenth Avenue Baptist ($20,000), according to its 2024 IRS Form 990-PF. Together they received 99% of its itemized 2024 grant dollars.
How large is The Sheperds Foundation?
The Sheperds Foundation reported $23.3M in total assets on its 2024 IRS Form 990-PF. It paid out $3.9M in qualifying distributions that year, against a required minimum of $1.3M (roughly 5% of its investment assets).
What is The Sheperds Foundation's EIN?
The Sheperds Foundation's EIN (Employer Identification Number) is 62-1842982. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Live grants for the work The Sheperds Foundation funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
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Browse active grant opportunities in The Sheperds Foundation's focus areas in our free grants database
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