Underdown Family Foundation
The Underdown Family Foundation is a private foundation based in Hickory, North Carolina. Established in 1993, it supports charitable causes, with its stated preferences including education, faith-based work, and health and health services.
Underdown Family Foundation at a glance
In short: Underdown Family Foundation gave $66K across 22 grants in 2025 (avg $3K), mostly in North Carolina. 24% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $66,000
- +1.5% vs 2024
- Grants made (2025)
- 22
- +15.8% vs 2024
- Average grant
- $3,000
- -12.3% vs 2024
- Median grant
- $2,000
- Total assets
- $1,235,203
- +2.8% vs 2024
- New grantees (estimate)
- 24% first-time grantees (5 of 21, 2025; small sample)
- Primary geography
- North Carolina (94% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Underdown Family Foundation
- How to Apply
-
The filing instructs applicants to use the online grant application form. Applicants must qualify as 501(c)(3) organizations. The filing says applications must be submitted by April 30 for review at the summer grant meeting.
- Review Cycle
- April 30 is the deadline stated on the filing; that date has passed in 2026. The filing does not specify the year for a subsequent cycle.
- Deadline
- April 30 is the deadline stated on the filing; that date has passed in 2026.
- Contact
Application contact: Debra Romano
Mailing address: Wells Fargo Bank 320 Broad Street 4, Th Floor, Charleston, SC 29401
Phone: (843) 724-4000
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Underdown Family Foundation
Who Underdown Family Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Habitat for Humanity of Catawba ($10K). Together the top 10 received $46K.
Grant Size Distribution
89 grants across all recorded years
The most common grant size was under $50K: 89 grants of 89 (100%).
Geographic Focus
Where this funder awards grants
The foundation is based in Hickory, North Carolina. In 2025, 94% of grant dollars went to recipients in North Carolina, 3% to South Carolina, and 3% to Missouri. Many listed recipients are in Hickory or elsewhere in Catawba County.
Grant Distribution by State
Share of 2025 grant dollars across all 22 itemized grants.
Cities
Is Underdown Family Foundation open to new grantees?
24%
first-time grantees, 2025
In 2025, 5 of 21 grantees (24%) were first-time recipients. With only 21 grantees, that is a small sample: one grantee more or less moves the share by about 5 points. First grants averaged $2K; repeat grants $3K. How we count
Medians: $2K first-time, $2K repeat.
- 67% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−8%). Method
- In 2025 it paid out 90% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $65K (2023) to $72K (2022). In 2025 it made 22 grants totaling $66K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Habitat for Humanity of Catawba Hickory, NC | Habitat Home Repairs | $10,000 |
| Carolina Caring Inc Newton, NC | Caring for Children Battling Serious Illness | $6,500 |
| First Presbyterian Church Hickory, NC | Good Samaritan Fund | $5,000 |
| Hart Square Foundation Inc Vale, NC | Cultural Heritage Education Opportunities | $5,000 |
| Hickory Museum of Art Inc Hickory, NC | Educational Programming | $5,000 |
| The Western Piedmont Symphony Hickory, NC | Explore The Orchestra Program | $5,000 |
| Cakeable Charlotte Charlotte, NC | Job Training for an Individual with I/DD | $3,000 |
| Council on Adolescents of Catawba Hickory, NC | Lunch Buddy Mentoring Program | $2,500 |
| Catawba County Council on Aging Hickory, NC | West Hickory Senior Center | $2,000 |
| Children's Cancer Partners of the Carolinas Spartanburg, SC | Hickory Childhood Cancer Safety Net | $2,000 |
Ready to take the next step with Underdown Family Foundation?
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 | $1,235,203 | $115,819 | $84,724 | $66,000 | 22 | $66,749 | $100,814 | $74,457 |
| 2024 | $1,201,617 | $111,469 | $81,700 | $65,000 | 19 | $66,441 | $98,335 | $69,617 |
| 2023 | $1,170,110 | $52,066 | $81,154 | $65,000 | 17 | $66,330 | $39,768 | $65,574 |
| 2022 | $1,198,808 | $84,733 | $89,465 | $71,500 | 16 | $72,899 | $71,932 | $66,369 |
| 2021 | $1,203,161 | $102,723 | $88,921 | $70,000 | 15 | $71,570 | $88,427 | $76,353 |
| 2020 | $1,188,997 | $83,260 | $86,807 | $70,000 | 15 | — | $70,761 | $66,872 |
Under IRS private-foundation payout rules, Underdown Family Foundation reported a distributable amount of $74K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation’s stated grant preferences are education, faith-based work, and health and health services. Its 2025 grants included support for educational programming, health services, housing repairs, senior services, mentoring, and cultural heritage education.
Grantee descriptions illustrate the range of organizations supported: Carolina Caring says it provides compassionate care to terminally ill individuals and their families; Hickory Museum of Art says it brings people together and inspires creativity through art; and Hart Square Foundation says it preserves and shares historic log structures and teaches regional crafts and practices. Council on Adolescents of Catawba describes its work as helping youth become physically and emotionally healthy through education, awareness, and advocacy. Cakeable Charlotte says it offers vocational training for people with intellectual and developmental disabilities through its bakery and café programs.
Grantmaking
In filing year 2025, the foundation gave $66,000 through 22 grants. Grants ranged from $1,000 to $10,000, with a median grant of $2,000. Notable awards included $10,000 to Habitat for Humanity of Catawba for home repairs; $6,500 to Carolina Caring for children battling serious illness; and $5,000 each to First Presbyterian Church for its Good Samaritan Fund, Hart Square Foundation for cultural heritage education, Hickory Museum of Art for educational programming, and The Western Piedmont Symphony for its Explore the Orchestra program.
Other reported awards included $3,000 to Cakeable Charlotte for job training for an individual with an intellectual or developmental disability; $2,500 to Council on Adolescents of Catawba for its Lunch Buddy Mentoring Program; and $2,000 each to Catawba County Council on Aging, Children’s Cancer Partners of the Carolinas, Pregnancy Care Center of Catawba, and Rising Hope Farms.
Leadership & Key People
Officers and directors from IRS filings
Underdown Family Foundation is led by Parks Underdown III, President on every filing since 2020; none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
Parks Underdown III
President
On filings since 2020
1 hr/week
No compensation reported
David Underdown
Vice President
On filings since 2020
1 hr/week
No compensation reported
Steve Underdown
Treasurer
On filings since 2020
1 hr/week
No compensation reported
Susan U Geck
Secretary
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2025. "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 Underdown Family Foundation
How much does Underdown Family Foundation give each year?
Underdown Family Foundation gave $66K across 22 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $65K across 19 grants.
What is Underdown Family Foundation's typical grant size?
Underdown Family Foundation's median grant in 2025 was $2,000, and its average grant was $3,000, across 22 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Underdown Family Foundation that year got $2K on average.
Where does Underdown Family Foundation give grants?
Underdown Family Foundation gives mostly in North Carolina: 94% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Hickory, NC (13 grants) and Charlotte, NC (3 grants).
Does Underdown Family Foundation give general operating support?
Occasionally: 9% of Underdown Family Foundation's 2025 grants with a stated purpose (2 of 22) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Underdown Family Foundation's largest grantees?
Underdown Family Foundation's largest 2025 grantees include Habitat for Humanity of Catawba ($10,000), Carolina Caring Inc ($6,500) and First Presbyterian Church ($5,000), according to its 2025 IRS Form 990-PF. Together they received 33% of its itemized 2025 grant dollars.
How large is Underdown Family Foundation?
Underdown Family Foundation reported $1.2M in total assets on its 2025 IRS Form 990-PF. It paid out $67K in qualifying distributions that year, against a required minimum of $74K (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 does Underdown Family Foundation fund?
The foundation’s stated grant preferences are education, faith-based work, and health and health services. Its 2025 grants included support for educational programming, health services, housing repairs, senior services, mentoring, and cultural heritage education. See mission & focus areas ↑
How do I apply for a grant from Underdown Family Foundation?
The filing instructs applicants to use the online grant application form. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Underdown Family Foundation's EIN?
Underdown Family Foundation's EIN (Employer Identification Number) is 56-1827986. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 26, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Underdown Family Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Underdown Family Foundation funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/underdown-family-foundation-morg_de2361fa329d4031b2768092a9909481
BibTeX
@misc{grantable_561827986_2026,
author = {{Grantable}},
title = {{Underdown Family Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/underdown-family-foundation-morg_de2361fa329d4031b2768092a9909481},
note = {Accessed 2026-10-14. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Underdown Family Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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