Truth Project
Truth Project is a private foundation focused on religion, based in St Pauls, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $7.6M in total assets. In 2024, it made $61K in qualifying distributions. Net investment income was $221K.
Truth Project at a glance
- Total assets
- $7,606,837
- +11.3% vs 2023
- Revenue (2024)
- $910,257
- -77.8% vs 2023
- Qualifying distributions (2024)
- $60,815
- -27.6% vs 2023
- Expenses (2024)
- $137,967
- -0.5% vs 2023
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Truth Project funds
How this funder distributes its grants
Grant Size Distribution
21 grants across all recorded years
The most common grant size was under $50K: 19 grants of 21 (90%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
How Truth Project gives
- Giving fell 98% from 2020 to 2023. Method
- In 2024 it paid out 17% 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 2020 to 2023, annual grant giving ranged from $2K (2023) to $152K (2020). In 2023 it made 6 grants totaling $2K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Luvy Spencer Garner, NC | Offering | $500 |
| Georgia Wilkins Lumberton, NC | Offering | $500 |
| Agnes Bullard Lumberton, NC | Offering | $500 |
| Mary Locklear Shannon, NC | Offering | $300 |
| Sheila Killens Lumberton, NC | Offering | $300 |
| Cathy Warren Asheboro, NC | Offering | $250 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $7,606,837 | $910,257 | $137,967 | — | — | $60,815 | $220,591 | $353,006 |
| 2023 | $6,834,547 | $4,094,302 | $138,687 | $2,350 | 6 | $83,981 | $140,095 | $267,144 |
| 2022 | $2,878,932 | $1,049,162 | $169,482 | $17,300 | 3 | $17,300 | — | $94,360 |
| 2021 | $2,056,956 | $1,500,000 | $199,416 | $119,700 | 4 | $119,700 | — | $74,345 |
| 2020 | $756,372 | $915,800 | $476,094 | $152,450 | 8 | — | — | $37,251 |
Under IRS private-foundation payout rules, Truth Project reported a distributable amount of $353K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Truth Project is led by Thad J. Davis, President on every filing since 2020; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Thad J. Davis
President
On filings since 2020
No compensation reported
Cheryl J. Davis
Treasurer
On filings since 2020
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Truth Project
How large is Truth Project?
Truth Project reported $7.6M in total assets on its 2024 IRS Form 990-PF. It paid out $61K in qualifying distributions that year, against a required minimum of $353K (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 Truth Project?
Truth Project is a private foundation focused on religion, based in St Pauls, NC. It holds $7.6M in total assets as of 2024.
Where does Truth Project operate?
Truth Project has awarded grants in Georgia, North Carolina, Pennsylvania, Tennessee, Texas.
What is Truth Project's EIN?
Truth Project's EIN (Employer Identification Number) is 83-2571138. IRS Form 990 filing data is available on this page for 2020–2024.
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 2020–2024
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