Salt Water Fund
Preselected recipients only
Salt Water Fund is a private foundation in Louisville, Kentucky. In tax year 2024 it gave $2.3 million in 8 grants; the typical grant was $56,822 and the largest $1.1 million. It only gives to organizations it selects itself and does not accept unsolicited applications.
From its IRS Form 990-PF for tax year 2024.
- Grants paid, 2024$2.3 million
- Number of grants8
- Typical grant$56,822
- Largest grant$1.1 million
- Assets$12.1 million
- New grantees86%
Giving in 2024 was up from $1.1 million the year before.
86% of its 2024 grantees had not received a grant from it the year before, a sign it is open to new organizations.
Giving by year
| Tax year | Grants paid | Number of grants | Assets |
|---|---|---|---|
| 2022 | $4.4 million | 9 | $12.7 million |
| 2023 | $1.1 million | 3 | $14.3 million |
| 2024 | $2.3 million | 8 | $12.1 million |
How to apply
Salt Water Fund says in its IRS filing that it only makes contributions to preselected organizations, so unsolicited applications are unlikely to be considered. Organizations it funds are usually invited.
What Salt Water Fund funds
Where it gives
Its grants went to recipients in 2 states, the most to North Carolina.
| State | Grants | Amount |
|---|---|---|
| North Carolina | 7 | $2.3 million |
| Georgia | 1 | $25,000 |
Grants paid in 2024
| Recipient | Purpose | Amount |
|---|---|---|
| Boys and Girls Clubs of Southeastern North Carolina | General contribution | $1.1 million |
| Cape Fear Collective | General contribution | $1.0 million |
| Cape Fear Collective | General contribution | $125,000 |
| Williams YMCA of Avery County | General contribution | $60,000 |
| Beacon Education | General contribution | $53,645 |
| Kentucky Christian Foundation | General contribution | $25,000 |
| Grandfather Mountain | General contribution | $15,000 |
| Crossnore Communities for Children | General contribution | $10,000 |
Officers and trustees
- James S Mahan III
- Marguerite D Mahan
Questions people ask
Does Salt Water Fund accept grant applications?
No. Its IRS filing says it only makes contributions to preselected organizations.
How much does Salt Water Fund give?
$2.3 million in tax year 2024, across 8 grants, with a typical grant of $56,822.
Who runs Salt Water Fund?
Its 2024 filing lists James S Mahan III (Chairman) and Marguerite D Mahan (Secretary).
What does Salt Water Fund fund?
Based on its grants, mainly youth programs.