Underdown Family Foundation

HICKORY, NC EIN: 56-1827986

Underdown Family Foundation is a private foundation, based in HICKORY, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.2M in total assets. In 2024, it awarded 19 grants totaling $65K. Net investment income was $98K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$1.2M

+2.7% YoY

Annual Giving

$65K

+0.0% YoY

Grant Count

+11.8% YoY

Avg Grant Size

$3K

-10.5% YoY

Under IRS private-foundation payout rules, Underdown Family Foundation reported a distributable amount of $70K for 2024 — the minimum it must pay out in qualifying distributions.

About Underdown Family Foundation

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

North Carolina $338K (99%)

South Carolina $4K (1%)

States

North Carolina South Carolina

Cities

Black MountainCharlotteClaremontConoverHickoryHuntersvilleLenoirNewtonSpartanburgVale

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$1,201,617	$1,170,110	$1,198,808
Revenue	$111,469	$52,066	$84,733
Expenses	$81,700	$81,154	$89,465
Qualifying Distributions	$66,441	$66,330	$72,899
Net Investment Income	$98,335	$39,768	$71,932
Distributable Amount	$69,617	$65,574	$66,369

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

82 grants across all recorded years

Open Grants

1 open opportunity from Underdown Family Foundation

Foundation

Underdown Family Foundation - Hickory, NC Grants

Underdown Family Foundation

Amount

Varies

Deadline

Rolling / Open

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Catawba Science Center Inc ($10,000), Habitat for Humanity of Catawba ($10,000), Carolina Caring Inc ($5,000).

Recipient	Purpose	Amount
Carolina Caring Inc Newton, NC	Caring for Children Battling Serious Illness	$5,000
Catawba County Council on Aging Hickory, NC	West Hickory Senior Center	$2,000
Catawba County Partnership for Children Hickory, NC	Peeps Playground in Ridgeview	$2,500
Catawba County Hispanic Ministry Inc Hickory, NC	Summer Learning	$2,000
Catawba Science Center Inc Hickory, NC	Planetarium Projection System	$10,000
Children's Cancer Partners of the Carolinas Spartanburg, SC	Hickory Childhood Cancer Safety Net	$2,000
Council on Adolescents of Catawba Hickory, NC	Lunch Buddy Mentoring Program	$2,500
First Presbyterian Church Hickory, NC	Good Samaritan Fund	$5,000
Habitat for Humanity of Catawba Hickory, NC	Homeownership Program - Ridgeview Community	$10,000
Hart Square Foundation Inc Vale, NC	Preserving History through Education and Arts	$3,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

No officer/director data available.

Frequently Asked Questions

How large is Underdown Family Foundation?

As of 2024, Underdown Family Foundation holds $1.2M in total assets with $111K in annual revenue. It awarded 19 grants totaling $65K in 2024.

Where does Underdown Family Foundation operate?

Underdown Family Foundation has awarded grants in North Carolina, South Carolina.

What size grants does Underdown Family Foundation award?

In 2024, Underdown Family Foundation awarded 19 grants totaling $65K — an average of about $3K per grant, based on its IRS Form 990 filings.

How much is Underdown Family Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Underdown Family Foundation reported a distributable amount of $70K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.