Theresa Gail May Scholarship Foundation is a private foundation focused on Education, based in PACE, FL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $939K in total assets. In 2024, it awarded 7 grants totaling $55K. Net investment income was $32K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$939K
-2.3% YoY
Annual Giving
$55K
-60.6% YoY
Grant Count
7
+40.0% YoY
Avg Grant Size
$8K
-71.8% YoY
Under IRS private-foundation payout rules, Theresa Gail May Scholarship Foundation reported a distributable amount of $47K for 2024 — the minimum it must pay out in qualifying distributions.
About Theresa Gail May Scholarship Foundation
Based on IRS filings
Theresa Gail May Scholarship Foundation is a private foundation focused on Education, based in PACE, FL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $939K in total assets. In 2024, it awarded 7 grants totaling $55K. Net investment income was $32K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $939,301 | $961,634 | $1,161,949 |
| Revenue | $56,110 | $-37,522 | $80,802 |
| Expenses | $78,302 | $161,574 | $106,270 |
| Qualifying Distributions | $59,896 | $143,450 | $85,810 |
| Net Investment Income | $32,008 | $9,660 | $61,763 |
| Distributable Amount | $47,449 | $50,314 | $52,934 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
31 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Pensacola State College ($31,000), Pace High School ($9,224), Jay Elementary School ($7,310).
| Recipient | Purpose | Amount |
|---|---|---|
| CENTRAL HIGH SCHOOL BROOKSVILLE, FL | STUDENT TRIPS | $1,448 |
| JAY HIGH SCHOOL JAY, FL | STUDENT TRIPS | $2,108 |
| MILTON HIGH SCHOOL MILTON, FL | STUDENT TRIPS | $724 |
| PACE HIGH SCHOOL PACE, FL | STUDENT TRIPS | $9,224 |
| PENSACOLA STATE COLLEGE PENSACOLA, FL | STUDENT SCHOLARSHIPS | $31,000 |
| UNIVERSITY OF WEST FLORIDA PENSACOLA, FL | STUDENT SCHOLARSHIPS | $3,000 |
| JAY ELEMENTARY SCHOOL JAY, FL | STUDENT TRIPS | $7,310 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RICKY SMITH | TRUSTEE | 1 | — |
| LB JONES | TRUSTEE | 1 | — |
| HERB CANNON | TRUSTEE | 1 | — |
| JR JONES | TRUSTEE | 1 | — |
| CLAUDIA CASSEVAH | EXECUTIVE DIRECTOR | 2 | $4,508 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Theresa Gail May Scholarship Foundation?
Theresa Gail May Scholarship Foundation is a private foundation focused on Education, based in PACE, FL. It holds $939K in total assets as of 2024.
How large is Theresa Gail May Scholarship Foundation?
As of 2024, Theresa Gail May Scholarship Foundation holds $939K in total assets with $56K in annual revenue. It awarded 7 grants totaling $55K in 2024.
Where does Theresa Gail May Scholarship Foundation operate?
Theresa Gail May Scholarship Foundation has awarded grants in Florida, Virginia.
What size grants does Theresa Gail May Scholarship Foundation award?
In 2024, Theresa Gail May Scholarship Foundation awarded 7 grants totaling $55K — an average of about $8K per grant, based on its IRS Form 990 filings.
How much is Theresa Gail May Scholarship Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Theresa Gail May Scholarship Foundation reported a distributable amount of $47K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Theresa Gail May Scholarship Foundation's EIN?
Theresa Gail May Scholarship Foundation's EIN (Employer Identification Number) is 59-7127677. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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