The William R Kenan Jr Fund
The William R Kenan Jr Fund is a private foundation, based in Chapel Hill, NC. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $64.7M in total assets. In 2025, it awarded 1 grant totaling $3.8M. Net investment income was $5.7M.
The William R Kenan Jr Fund at a glance
In short: The William R Kenan Jr Fund gave $3.8M across 1 grant in 2025 (avg $3.8M), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $3,750,000
- +4.6% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $3,750,000
- +4.6% vs 2024
- Median grant
- $3,750,000
- Total assets
- $64,708,541
- +2.4% vs 2024
- Primary geography
- North Carolina (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The William R Kenan Jr Fund funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Kenan-Flagler Business School Foundation ($3.8M).
Grant Size Distribution
10 grants across all recorded years
The most common grant size was in the $1–5M range: 6 grants of 10 (60%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How The William R Kenan Jr Fund gives
- Giving held roughly steady from 2022 to 2025 (+9%). Method
- In 2025 it paid out 97% 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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $3.5M (2022) to $3.8M (2025). In 2025 it made 1 grant totaling $3.8M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Kenan-Flagler Business School Foundation Chapel Hill, NC | Operations | $3,750,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2025 | $64,708,541 | $6,532,171 | $5,008,485 | $3,750,000 | 1 | $4,103,106 | $5,720,278 | $4,250,074 |
| 2024 | $63,174,526 | $9,472,454 | $4,836,806 | $3,585,000 | 1 | $4,035,491 | $8,607,434 | $3,769,579 |
| 2023 | $58,525,245 | $4,492,798 | $4,621,840 | $3,590,000 | 1 | $3,973,985 | $3,765,631 | $3,565,240 |
| 2022 | $58,618,980 | $3,328,530 | $4,588,361 | $3,451,500 | 2 | $3,752,014 | $2,532,532 | $4,087,132 |
| 2021 | $59,913,111 | $5,238,170 | $4,766,598 | $3,623,500 | 5 | — | $4,487,653 | $3,843,391 |
Under IRS private-foundation payout rules, The William R Kenan Jr Fund reported a distributable amount of $4.3M for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The William R Kenan Jr Fund is led by Daniel W. Drake, President & Director since 2024 (on filings since 2021); 2 of 13 officers listed in 2025 are compensated.
Officers on the 2025 filing
Daniel W. Drake
President & Director
President, Treasurer & Director → President & Director, 2024
On filings since 2021
20 hrs/week
$163K (2021) → $185K (2025)
Holt K. Hemingway
Secretary & Director
On filings since 2021
3 hrs/week
No compensation reported
J. Haywood Davis
Director
On filings since 2021
3 hrs/week
No compensation reported
Liza Kenan Howell
Director
On filings since 2021
3 hrs/week
No compensation reported
Robert P. Baynard Jr.
Director
On filings since 2021
3 hrs/week
No compensation reported
Thomas S. Kenan III
Vice President & Director
On filings since 2021
3 hrs/week
No compensation reported
Christopher Arndt Shuping
Director
On filings since 2024
No compensation reported
Evan Stewart Gwyn
Director
On filings since 2024
No compensation reported
Frank Hawkins Kenan II
Director
On filings since 2024
No compensation reported
Gareth Gwyn
Director
On filings since 2024
No compensation reported
Sterling Kenan McCracken
Director
On filings since 2024
3 hrs/week
No compensation reported
Susan Bowser
Assistant Secretary
On filings since 2021
20 hrs/week
$91K (2021) → $111K (2025)
Steven R. Armstrong
Treasurer
Assistant Treasurer → Treasurer, 2024
On filings since 2021
3 hrs/week
No compensation reported
Former officers (1)
- Former: Elizabeth Price Kenan (2021–2023) — Director
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $185K, to Daniel W Drake (Pres./Director). 2 officers or directors reported compensation on that filing.
Frequently asked questions about The William R Kenan Jr Fund
How much does The William R Kenan Jr Fund give each year?
The William R Kenan Jr Fund gave $3.8M across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $3.6M across 1 grant.
How large is The William R Kenan Jr Fund?
The William R Kenan Jr Fund reported $64.7M in total assets on its 2025 IRS Form 990-PF. It paid out $4.1M in qualifying distributions that year, against a required minimum of $4.3M (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 William R Kenan Jr Fund operate?
The William R Kenan Jr Fund has awarded grants in North Carolina.
What is The William R Kenan Jr Fund's EIN?
The William R Kenan Jr Fund's EIN (Employer Identification Number) is 57-0757568. IRS Form 990 filing data is available on this page for 2021–2025.
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 2021–2025
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Browse active grant opportunities in The William R Kenan Jr Fund's focus areas in our free grants database
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