Thomas W and Lolita Gayle Scholarship Fund is a private foundation focused on Education, based in DALLAS, TX. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $581K in total assets. In 2025, it awarded 7 grants totaling $23K. Net investment income was $49K.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$581K
+2.6% YoY
Annual Giving
$23K
-4.2% YoY
Grant Count
7
+16.7% YoY
Avg Grant Size
$3K
-17.9% YoY
Under IRS private-foundation payout rules, Thomas W and Lolita Gayle Scholarship Fund reported a distributable amount of $34K for 2025 — the minimum it must pay out in qualifying distributions.
About Thomas W and Lolita Gayle Scholarship Fund
Based on IRS filings
Thomas W and Lolita Gayle Scholarship Fund is a private foundation focused on Education, based in DALLAS, TX. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $581K in total assets. In 2025, it awarded 7 grants totaling $23K. Net investment income was $49K.
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 | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $581,035 | $566,203 | $578,108 |
| Revenue | $56,526 | $21,373 | $-14,329 |
| Expenses | $38,842 | $39,083 | $37,434 |
| Qualifying Distributions | $31,518 | $32,738 | $28,517 |
| Net Investment Income | $48,897 | $13,324 | $6,576 |
| Distributable Amount | $34,386 | $31,705 | $30,493 |
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 2025
Grant Size Distribution
30 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest include Virginia Tech ($5,000), George Mason University ($3,000), University of South Alabama ($3,000).
| Recipient | Purpose | Amount |
|---|---|---|
| VIRGINIA TECH BLACKSBURG, VA | UNRESTRICTED GENERAL | $5,000 |
| GEORGE MASON UNIVERSITY FAIRFAX, VA | UNRESTRICTED GENERAL | $3,000 |
| UNIVERSITY OF SOUTH ALABAMA MOBILE, AL | UNRESTRICTED GENERAL | $3,000 |
| UNIVERSITY OF MARY WASHINGTON FREDRICKSBURG, VA | UNRESTRICTED GENERAL | $3,000 |
| WASHINGTON AND LEE UNIVERSITY LEXINGTON, VA | UNRESTRICTED GENERAL | $3,000 |
| WILLIAM AND MARY WILLIAMSBURG, VA | UNRESTRICTED GENERAL | $3,000 |
| JAMES MADISON UNIVERSITY HARRISONBURG, VA | UNRESTRICTED GENERAL | $3,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BANK OF AMERICA | TRUSTEE | 1 | $9,942 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Thomas W and Lolita Gayle Scholarship Fund?
Thomas W and Lolita Gayle Scholarship Fund is a private foundation focused on Education, based in DALLAS, TX. It holds $581K in total assets as of 2025.
How large is Thomas W and Lolita Gayle Scholarship Fund?
As of 2025, Thomas W and Lolita Gayle Scholarship Fund holds $581K in total assets with $57K in annual revenue. It awarded 7 grants totaling $23K in 2025.
Where does Thomas W and Lolita Gayle Scholarship Fund operate?
Thomas W and Lolita Gayle Scholarship Fund has awarded grants in Alabama, Virginia.
What size grants does Thomas W and Lolita Gayle Scholarship Fund award?
In 2025, Thomas W and Lolita Gayle Scholarship Fund awarded 7 grants totaling $23K — an average of about $3K per grant, based on its IRS Form 990 filings.
How much is Thomas W and Lolita Gayle Scholarship Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Thomas W and Lolita Gayle Scholarship Fund reported a distributable amount of $34K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Thomas W and Lolita Gayle Scholarship Fund's EIN?
Thomas W and Lolita Gayle Scholarship Fund's EIN (Employer Identification Number) is 54-6395347. IRS Form 990 filing data is available on this page for 2020–2025.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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