Tr UA Lucy T Fassett Memorial
Tr UA Lucy T Fassett Memorial is a private foundation focused on Education, based in Dallas, TX. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $2.4M in total assets. In 2025, it awarded 3 grants totaling $132K. Net investment income was $254K.
Tr UA Lucy T Fassett Memorial at a glance
In short: Tr UA Lucy T Fassett Memorial gave $132K across 3 grants in 2025 (avg $44K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $132,074
- +6.8% vs 2024
- Grants made (2025)
- 3
- +0.0% vs 2024
- Average grant
- $44,025
- +6.8% vs 2024
- Median grant
- $13,210
- Total assets
- $2,404,312
- +4.9% 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 Tr UA Lucy T Fassett Memorial funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was Wake Forest University ($108K). Together the top 3 received $132K.
Grant Size Distribution
15 grants across all recorded years
The most common grant size was under $50K: 10 grants of 15 (67%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
States
Cities
How Tr UA Lucy T Fassett Memorial gives
- Giving held roughly steady from 2022 to 2025 (−3%). Method
- In 2025 it paid out 98% 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 2019 to 2025, annual grant giving ranged from $93K (2023) to $136K (2022). In 2025 it made 3 grants totaling $132K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Wake Forest University Winston-Salem, NC | Unrestricted General | $108,295 |
| Meredith College Raleigh, NC | Unrestricted General | $13,210 |
| Baptist Childrens Homes of N C Thomasville, NC | Unrestricted General | $10,569 |
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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 | $2,404,312 | $265,056 | $152,806 | $132,074 | 3 | $136,989 | $253,699 | $139,087 |
| 2024 | $2,291,908 | $234,482 | $139,765 | $123,664 | 3 | $128,278 | $221,519 | $129,901 |
| 2023 | $2,199,600 | $63,775 | $106,698 | $93,313 | 3 | $97,458 | $48,279 | $118,193 |
| 2022 | $2,243,329 | $-61,932 | $161,787 | $136,486 | 3 | $140,757 | $36,225 | $120,616 |
| 2021 | $2,466,903 | $508,974 | $134,089 | $114,889 | 3 | $121,238 | $495,975 | $134,165 |
| 2020 | $2,089,330 | $169,918 | $140,213 | $119,773 | 3 | — | $161,459 | $114,594 |
| 2019 | $2,059,706 | $119,571 | $109,617 | $97,008 | 3 | — | $117,893 | $110,746 |
Under IRS private-foundation payout rules, Tr UA Lucy T Fassett Memorial reported a distributable amount of $139K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Tr UA Lucy T Fassett Memorial's only listed officer is Bank Of America, Trustee on every filing since 2021 (compensated).
Officers on the 2025 filing
Bank Of America
Trustee
On filings since 2021
1 hr/week
$11K (2021) → $11K (2025)
Former officers (1)
- Former: Bank Of America NA (2019–2020) — Trustee
Data from IRS Form 990 filings, 2019–2025. "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 $11K, to Bank of America (Trustee).
Frequently asked questions about Tr UA Lucy T Fassett Memorial
How much does Tr UA Lucy T Fassett Memorial give each year?
Tr UA Lucy T Fassett Memorial gave $132K across 3 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $124K across 3 grants.
What is Tr UA Lucy T Fassett Memorial's typical grant size?
Tr UA Lucy T Fassett Memorial's median grant in 2025 was $13,210, and its average grant was $44,025, across 3 grants on its 2025 IRS Form 990-PF.
Where does Tr UA Lucy T Fassett Memorial give grants?
Tr UA Lucy T Fassett Memorial gives mostly in North Carolina: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does Tr UA Lucy T Fassett Memorial give general operating support?
Yes: 100% of Tr UA Lucy T Fassett Memorial's 2025 grants with a stated purpose (3 of 3) were for general or operating support, per its 2025 IRS Form 990-PF.
How large is Tr UA Lucy T Fassett Memorial?
Tr UA Lucy T Fassett Memorial reported $2.4M in total assets on its 2025 IRS Form 990-PF. It paid out $137K in qualifying distributions that year, against a required minimum of $139K (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.
What is Tr UA Lucy T Fassett Memorial?
Tr UA Lucy T Fassett Memorial is a private foundation focused on Education, based in Dallas, TX. It holds $2.4M in total assets as of 2025.
What is Tr UA Lucy T Fassett Memorial's EIN?
Tr UA Lucy T Fassett Memorial's EIN (Employer Identification Number) is 23-7357891. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS April 16, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS April 8, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS April 6, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS April 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS April 16, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS March 20, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 21, 2026)
- IRS filings on file for fiscal years 2019–2025
Live grants for the work Tr UA Lucy T Fassett Memorial funds
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