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Nonprofiteer
← LETTIE PATE EVANS FOUNDATION INC TRUSTEE OF THE RESTRICTED FUND UW

Form 990 for tax year 2025

Filed by LETTIE PATE EVANS FOUNDATION INC TRUSTEE OF THE RESTRICTED FUND UW.

Totals

Total revenue
$665,581,251
Total expenses
$143,993,083
Contributions and grants received
$0
Grants paid
$139,348,817
Program service revenue
$0
Investment income
$665,581,251
Other revenue
$0
Total assets, end of year
$4,532,259,056
Total liabilities, end of year
$31,836,467
Net assets or fund balances, end of year
$4,500,422,589
Program services expenses (Part IX)
$140,214,029
Management and general expenses
$3,779,054
Fundraising expenses
$0
Program service expenses (Part III)
$140,214,029

Program services were 97.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $143,993,082 · excluded $143,993,082

  • 7a · Gross sales of assets other than inventory

    securities $1,295,977,046

  • 7b · Less cost or other basis and sales expenses

    securities $774,388,877

  • 7c · Gain or loss

    securities $521,588,169

  • 7d · Net gain or loss

    total $521,588,169 · excluded $521,588,169

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $139,348,817 · program services $139,348,817

  • 5 · Compensation of officers, directors and key employees

    total $815,505 · program services $476,413 · management and general $339,092

  • 7 · Other salaries and wages

    total $357,555 · program services $194,311 · management and general $163,244

  • 8 · Pension plan contributions

    total $48,775 · program services $28,536 · management and general $20,239

  • 9 · Other employee benefits

    total $88,995 · program services $50,083 · management and general $38,912

  • 10 · Payroll taxes

    total $45,218 · program services $25,604 · management and general $19,614

  • 11a · Fees: management

    total $9,810 · management and general $9,810

  • 11c · Fees: accounting

    total $31,747 · management and general $31,747

  • 11f · Fees: investment management

    total $3,066,813 · management and general $3,066,813

  • 13 · Office expenses

    total $10,610 · program services $5,730 · management and general $4,880

  • 14 · Information technology

    total $37,875 · program services $20,453 · management and general $17,422

  • 16 · Occupancy

    total $82,812 · program services $44,718 · management and general $38,094

  • 17 · Travel

    total $6,114 · program services $3,860 · management and general $2,254

  • 19 · Conferences, conventions and meetings

    total $15,936 · program services $4,506 · management and general $11,430

  • 22 · Depreciation, depletion and amortization

    total $2,262 · program services $1,221 · management and general $1,041

  • 23 · Insurance

    total $11,846 · management and general $11,846

  • 24a · Other expenses: Organization dues

    total $8,173 · program services $7,500 · management and general $673

  • 24b · Other expenses: Federal excise taxes

    total $1,582 · program services $854 · management and general $728

  • 24e · All other expenses

    total $2,638 · program services $1,423 · management and general $1,215

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,493 · end of year $5,406

  • 2 · Savings and temporary cash investments

    beginning of year $4,365,425 · end of year $11,171,743

  • 10a · Land, buildings and equipment: cost or other basis

    $110,642

  • 10b · Land, buildings and equipment: accumulated depreciation

    $106,914

  • 10c · Land, buildings and equipment, net

    beginning of year $3,736 · end of year $3,728

  • 11 · Investments: publicly traded securities

    beginning of year $2,546,779,119 · end of year $3,028,160,996

  • 12 · Investments: other securities

    beginning of year $1,702,660,144 · end of year $1,492,409,108

  • 15 · Other assets

    beginning of year $428,728 · end of year $508,075

  • 18 · Grants payable

    beginning of year $30,373,124 · end of year $31,339,517

  • 25 · Other liabilities

    beginning of year $417,494 · end of year $496,950

  • 27 · Net assets without donor restrictions

    beginning of year $4,215,490,261 · end of year $4,492,460,823

  • 28 · Net assets with donor restrictions

    beginning of year $7,961,766 · end of year $7,961,766

Mission and programs · 2025

Mission

To provide to certain named beneficiaries annual monetary support designated by amount or percentage in the will of Lettie Pate Evans, deceased.

Activities or mission (Part I)

To provide to certain named beneficiaries annual monetary support designated by amount or percentage in the will of Lettie Pate Evans, deceased. To date, beneficiaries of the Lettie Pate Evans Restricted Fund have collectively received more than $2 billion in distributions since the Fund's inception.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $112,163,737 · Grants $111,471,614

  • Grants for Health. Grants were awarded to Children's Healthcare of Atlanta and Bath County Community Hospital in Hot Springs, Virginia according to the terms of the will that created the Restricted Fund. Funds received by Emory University are used to maintain a surgical pavilion at Emory Hospital. The governing boards of the other hospitals have full discretion to allocate grant funds.

    Expenses $21,030,701 · Grants $20,900,928

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $7,010,535 · Grants $6,967,276

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $6,037 · Grants $6,000

  • Grants for Child Welfare. One grant was awarded to Boys' Home in Covington, Virginia according to the terms of the will that created the Restricted Fund. The Boys' Home governing board has full discretion to allocate grant funds.

    Expenses $3,019 · Grants $3,000

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • E JENNER WOOD III

    TRUSTEE CHAIR

    Total calculated
    $95,000
    From this org
    $18,750
    From related orgs
    $76,250
    Other
    $0
    Hours/week
    3 + 11 related

  • LAWRENCE L GELLERSTEDT III

    TRUSTEE VICE CHAIR

    Total calculated
    $95,000
    From this org
    $26,250
    From related orgs
    $68,750
    Other
    $0
    Hours/week
    2 + 5 related

  • DAVID P STOCKERT

    TRUSTEE

    Total calculated
    $70,000
    From this org
    $18,750
    From related orgs
    $51,250
    Other
    $0
    Hours/week
    1 + 3 related

  • LYONS GRAY

    TRUSTEE

    Total calculated
    $25,000
    From this org
    $18,750
    From related orgs
    $6,250
    Other
    $0
    Hours/week
    1 + 1 related

  • LIZANNE THOMAS

    TRUSTEE

    Total calculated
    $25,000
    From this org
    $18,750
    From related orgs
    $6,250
    Other
    $0
    Hours/week
    1 + 1 related

  • P RUSSELL HARDIN

    PRESIDENT - RETIRED 1/31/2025

    Total calculated
    $1,105,693
    From this org
    $324,711
    From related orgs
    $770,027
    Other
    $10,955
    Hours/week
    11 + 33 related

    Schedule J breakdown matched by us

    Base
    $298,472 + $699,348 related
    Bonus
    $0
    Other
    $26,239 + $70,679 related
    Deferred
    $1,403 + $3,136 related
    Nontaxable benefits
    $1,983 + $4,433 related
    Filer's total
    $328,097 + $777,596 related

  • ERIK S JOHNSON

    PRESIDENT - ELECTED 2/1/2025

    Total calculated
    $585,923
    From this org
    $155,912
    From related orgs
    $348,559
    Other
    $81,452
    Hours/week
    11 + 33 related

    Schedule J breakdown matched by us

    Base
    $149,797 + $334,888 related
    Bonus
    $0
    Other
    $6,115 + $13,671 related
    Deferred
    $16,714 + $37,365 related
    Nontaxable benefits
    $8,460 + $18,913 related
    Filer's total
    $181,086 + $404,837 related

  • ELI P NIEPOKY

    TREASURER

    Total calculated
    $466,817
    From this org
    $118,816
    From related orgs
    $265,624
    Other
    $82,377
    Hours/week
    11 + 33 related

    Schedule J breakdown matched by us

    Base
    $112,899 + $252,397 related
    Bonus
    $0
    Other
    $5,917 + $13,227 related
    Deferred
    $11,180 + $24,992 related
    Nontaxable benefits
    $14,280 + $31,925 related
    Filer's total
    $144,276 + $322,541 related

  • SARA E BLALOCK

    SECRETARY - ELECTED 2/1/2025

    Total calculated
    $321,984
    From this org
    $77,504
    From related orgs
    $173,267
    Other
    $71,213
    Hours/week
    11 + 33 related

    Schedule J breakdown matched by us

    Base
    $77,144 + $172,462 related
    Bonus
    $0
    Other
    $360 + $805 related
    Deferred
    $11,572 + $25,869 related
    Nontaxable benefits
    $10,438 + $23,334 related
    Filer's total
    $99,514 + $222,470 related

  • ELIZABETH A SMITH

    GRANTS PROGRAM DIRECTOR

    Total calculated
    $248,106
    From this org
    $65,967
    From related orgs
    $147,476
    Other
    $34,663
    Hours/week
    11 + 28 related

    Schedule J breakdown matched by us

    Base
    $61,715 + $137,969 related
    Bonus
    $0
    Other
    $4,252 + $9,507 related
    Deferred
    $5,141 + $11,493 related
    Nontaxable benefits
    $5,572 + $12,457 related
    Filer's total
    $76,680 + $171,426 related

  • SARAH TABLAN

    CONTROLLER

    Total calculated
    $259,549
    From this org
    $65,088
    From related orgs
    $145,512
    Other
    $48,949
    Hours/week
    11 + 28 related

    Schedule J breakdown matched by us

    Base
    $60,735 + $135,781 related
    Bonus
    $0
    Other
    $4,353 + $9,731 related
    Deferred
    $5,059 + $11,309 related
    Nontaxable benefits
    $10,070 + $22,511 related
    Filer's total
    $80,217 + $179,332 related

  • CARRIE D CONWAY

    SENIOR PROGRAM OFFICER

    Total calculated
    $223,067
    From this org
    $50,486
    From related orgs
    $112,868
    Other
    $59,713
    Hours/week
    11 + 28 related

    Schedule J breakdown matched by us

    Base
    $47,021 + $105,119 related
    Bonus
    $0
    Other
    $3,465 + $7,749 related
    Deferred
    $3,917 + $8,757 related
    Nontaxable benefits
    $14,538 + $32,501 related
    Filer's total
    $68,941 + $154,126 related

  • DAHLIA BROWN

    PROGRAM OFFICER

    Total calculated
    $164,060
    From this org
    $37,121
    From related orgs
    $82,988
    Other
    $43,951
    Hours/week
    11 + 28 related

    Schedule J breakdown matched by us

    Base
    $36,245 + $81,031 related
    Bonus
    $0
    Other
    $876 + $1,957 related
    Deferred
    $5,437 + $12,154 related
    Nontaxable benefits
    $8,147 + $18,213 related
    Filer's total
    $50,705 + $113,355 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4b
The Foundation credited Erik Johnson with $9,574 and Eli Niepoky with $4,040 to an unfunded, unvested 457(f) Plan. These amounts are included in Part II, column C.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2025
Filed
14 May 2026
IRS schema version
2025v4.1
Source object
202611349349305361

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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