Tr UA Lucy T Fassett Memorial

Private foundation · Grantmaker Dallas, TX EIN: 23-7357891

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.

Key facts about Tr UA Lucy T Fassett Memorial

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.

EIN
23-7357891
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$132,074
Grants made (2025)
3
Average grant
$44,025
Median grant
$13,210
Total assets
$2,404,312
Primary geography
North Carolina (100% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$2.4M

+4.9% YoY

Annual Giving

$132K

+6.8% YoY

Grant Count

3

+0.0% YoY

Avg Grant Size

$44K

+6.8% YoY

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.

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.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

1state

Share of 2025 grant dollars across all 3 itemized grants.

Cities

RaleighThomasvilleWinston-Salem

Giving Over Time

Total grant dollars and number of grants per year

$0$50K$100K$150K3 grants2019 3 grants2020 3 grants2021 3 grants2022 3 grants2023 3 grants2024 3 grants2025

From 2019 to 2025, annual grant giving ranged from $93K (2023) to $136K (2022). In 2025 it made 3 grants totaling $132K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 3 recipients in 2025

Wake Forest University: $108KWake Forest University$108KMeredith College: $13KMeredith College$13KBaptist Childrens Homes of N C: $11KBaptist Childrens Homes of N C$11K

The largest 2025 recipient was Wake Forest University ($108K). Together the top 3 received $132K.

Grant Size Distribution

15 grants across all recorded years

10<$50K2$50–100K3$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 10 grants of 15 (67%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Wake Forest University Winston-Salem, NCUnrestricted General$108,295
Meredith College Raleigh, NCUnrestricted General$13,210
Baptist Childrens Homes of N C Thomasville, NCUnrestricted General$10,569

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$200K$400K$600K2019 2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$2,404,312$2,291,908$2,199,600
Revenue$265,056$234,482$63,775
Expenses$152,806$139,765$106,698
Qualifying Distributions$136,989$128,278$97,458
Net Investment Income$253,699$221,519$48,279
Distributable Amount$139,087$129,901$118,193

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2019 (received by the IRS April 16, 2020)
  2. Updated Form 990-PF for fiscal year 2020 (received by the IRS April 8, 2021)
  3. Updated Form 990-PF for fiscal year 2021 (received by the IRS April 6, 2022)
  4. Updated Form 990-PF for fiscal year 2022 (received by the IRS April 11, 2023)
  5. Updated Form 990-PF for fiscal year 2023 (received by the IRS April 16, 2024)
  6. Updated Form 990-PF for fiscal year 2024 (received by the IRS March 20, 2025)
  7. Updated Form 990-PF for fiscal year 2025 (received by the IRS April 21, 2026)
  8. IRS filings on file for fiscal years 2019–2025

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

Bank of America — Trustee: $11KBank of AmericaTrustee$11K

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.

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