Overview
The Salt Water Fund is a philanthropic foundation based in Louisville, Kentucky, with assets totaling $10,473,417. Despite having expenses of $1,075,172, the fund generated a revenue of $257,156. The foundation focuses on philanthropy and foundations as its primary subject areas. It has provided funding to cities in North Carolina, specifically Arapahoe, Crossnore, Linville, and Wilmington. The leadership of the fund includes James S. Mahan III as the Chairman and Marguerite D. Mahan as the Secretary, both of whom serve without compensation. The fund does not have a publicly available website.
Focus areas
Geographic focus
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Financials
in 2024, compared to $16,416,547 in 2023
3 grants awarded in 2024
Of total expenses go to programs
Grants
| Purpose | Location | |||
|---|---|---|---|---|
| $2,975,000 | GLOW NC | GENERAL CONTRIBUTION | 606 S COLLEGE ROAD WILMINGTON, NC US | 2023 |
| $1,000,000 | CAMP SEA GULL SEAFARER | GENERAL CONTRIBUTION | 2744 SEAFARER ROAD ARAPAHOE, NC US | 2022 |
| $1,000,000 | GRANDFATHER MOUNTAIN STEWARDSHIP FOUNDATION | GENERAL CONTRIBUTION | 2050 BLOWING ROCK HWY LINVILLE, NC US | 2022 |
| $875,609 | BEACON EDUCATION | GENERAL CONTRIBUTION | 606 S COLLEGE ROAD WILMINGTON, NC US | 2024 |
| $550,000 | GLOW NC | GENERAL CONTRIBUTION | 606 S COLLEGE ROAD WILMINGTON, NC US | 2022 |
| $400,000 | WILMINGTON AREA REBUILDING MINISTRY | GENERAL CONTRIBUTION | 5058 WRIGHTSVILLE AVE WILMINGTON, NC US | 2023 |
| $300,000 | THE CAROUSEL CENTER | GENERAL CONTRIBUTION | 1501 DOCK STREET WILMINGTON, NC US | 2023 |
| $250,000 | CAPE FEAR ACADEMY | GENERAL CONTRIBUTION | 3900 COLLEGE ROAD WILMINGTON, NC US | 2023 |
| $200,000 | COLLECTIVE IMPACT IN NEW HANOVER COUNTY INC | GENERAL CONTRIBUTION | PO BOX 7746 WILMINGTON, NC US | 2023 |
| $189,179 | BEACON EDUCATION | GENERAL CONTRIBUTION | 606 S COLLEGE ROAD WILMINGTON, NC US | 2024 |
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People
Compensation data from most recent available 990 forms
| Title | |||
|---|---|---|---|
JSMI
JAMES S MAHAN III
| CHAIRMAN | $0 | 2022 |
MDM
MARGUERITE D MAHAN
| SECRETARY | $0 | 2022 |
JSMI
JAMES S MAHAN III
| CHAIRMAN | $0 | 2023 |
MDM
MARGUERITE D MAHAN
| SECRETARY | $0 | 2023 |
JSMI
JAMES S MAHAN III
| CHAIRMAN | $0 | 2024 |
MDM
MARGUERITE D MAHAN
| SECRETARY | $0 | 2024 |
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Financial data sourced from IRS 990 forms via ProPublica Nonprofit Explorer
View on ProPublica Nonprofit ExplorerLast updated on August 25, 2025