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The Thomas Foundation at a glanceAlso receives grants: funding profile →

· Private foundation

The Thomas Foundation

Its FY2025 filing reports that it funds preselected organizations and did not take unsolicited requests; check the foundation's own site before ruling it out.

$500k
Granted FY2025still arriving
41
Grants FY2025still arriving
4
States reached
$30k
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
05Through PlinthRead
01What it funds
01100% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2017 to 2024.

Religion$1.4MHuman Services$792kHealth$691kHousing & Shelter$543kCrime & Legal$191kInternational$183kCivil Rights$140kFood & Nutrition$90kOther$0
02FY2025 · 41 grants

Where the money goes

Grants by size, and the largest recipients.

By grant size · FY2025

  • Under $10k3 grants · $15k
  • $10k–50k38 grants · $485k
$10,000
Median grant
4
States reached
$13M
Total assets
Largest grants
RecipientAmount
LIFESAVERS FOUNDATION THE$30,000
THRIVE WOMEN'S CLINIC$25,000
HARVESTERS REACHING THE NATIONS$25,000
INTERNATIONAL LIVING STREAMS$25,000
MASTERMEDIA MINISTRIES$25,000
BRAVELOVE INC$20,000
DALLAS LIFE FOUNDATION$20,000
DISCIPLES MAKING DISCIPLES MINISTRY$15,000
MEN OF NEHEMIAH$10,000
BELLA HOUSE$10,000
ALIVE AT LAST$10,000
METRO RELIEF$10,000
ABBA WOMEN'S CENTER$10,000
MERCY HOUSE MINISTRIES$10,000
OPEN ARMS HEALTH CLINIC$10,000
02The need
03

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Its human-services grants (FY17–25, $755k) land where the poverty rate runs at 13%, against an area that typically sits at 9%. 85% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 9%HOPE'S DOOR: $11k → 5%ABBA WOMEN'S CENTER: $10k → 13%HOPE'S DOOR: $11k → 5%ABBA WOMEN'S CENTER: $10k → 13%HOPE'S DOOR: $10k → 5%HOPE'S DOOR: $10k → 5%HOPE'S DOOR: $10k → 5%HOPE'S DOOR: $10k → 5%HOPE'S DOOR: $10k → 5%BRAVELOVE INC: $20k → 14%BRAVELOVE INC: $20k → 14%BRAVELOVE INC: $20k → 14%BRAVELOVE INC: $15k → 14%BRAVELOVE INC: $15k → 14%BRAVELOVE INC: $15k → 14%BRAVELOVE INC: $15k → 14%BELLA HOUSE: $10k → 5%BRAVELOVE INC: $15k → 14%BRAVELOVE INC: $15k → 14%BELLA HOUSE: $10k → 5%BELLA HOUSE: $10k → 5%MEN OF NEHEMIAH: $10k → 14%MEN OF NEHEMIAH: $10k → 14%MEN OF NEHEMIAH: $10k → 14%CHRISTIAN WORKS FOR CHILDREN: $10k → 14%WHITE ROCK CENTER OF HOPE: $10k → 14%CHRISTIAN WORKS FOR CHILDREN: $10k → 14%WHITE ROCK CENTER OF HOPE: $10k → 14%CHRISTIAN WORKS FOR CHILDREN: $10k → 14%WHITE ROCK CENTER OF HOPE: $10k → 14%CHRISTIAN WORKS FOR CHILDREN: $10k → 14%WHITE ROCK CENTER OF HOPE: $10k → 14%CHRISTIAN WORKS FOR CHILDREN: $10k → 14%WHITE ROCK CENTER OF HOPE: $10k → 14%CHRISTIAN WORKS FOR CHILDREN: $10k → 14%WHITE ROCK CENTER OF HOPE: $10k → 14%CHRISTIAN WORKS FOR CHILDREN: $10k → 14%CHRISTIAN WORKS FOR CHILDREN: $10k → 14%LIFESAVERS FOUNDATION THE: $30k → 14%LIFESAVERS FOUNDATION THE: $30k → 14%LIFESAVERS FOUNDATION THE: $30k → 14%LIFESAVERS FOUNDATION THE: $15k → 14%LIFESAVERS FOUNDATION THE: $15k → 14%LIFESAVERS FOUNDATION THE: $15k → 14%LIFESAVERS FOUNDATION THE: $15k → 14%LIFESAVERS FOUNDATION THE: $15k → 14%LIFESAVERS FOUNDATION THE: $11k → 14%HOPE SUPPLY CO: $10k → 14%0%20%40%50%more need →
grant to an above-average-need area below average· circle size = grant amount
How this is measured
Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.

Which US states its grants reach

MN
OR
CA
CO
VA
AR
NC
GA
TX
How this is measured
US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving.
04

Where the work is directed

The same grants placed two ways: where each recipient sits, and where its stated purpose sends the money.

About 10% of The Thomas Foundation’s grant dollars are earmarked for a different county than the recipient’s own address. By recipient address, 90% of the giving stays in TX; by stated purpose, 77%.

The Thomas Foundationlessmore of its giving
Placed by recipient address · 8.8% directed abroad (not shown)
How this is measured
Recipient view: each grant at its grantee’s ZIP, mapped to a county. Directed view: each grant at the county its stated purpose names, falling back to the recipient’s county when the purpose names no place; US grants only. A county shows only if it carries the top 95% of that view’s dollars. Purposes are read from the funder’s own 990 grant descriptions.
03Its grantees
repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

99%of every dollar goes to organizations it has funded before.
$4.6M · 70 repeat orgs$57k to everyone else

Grantees it renews have grown median revenue +32% since the first grant, against -3% for those funded once.

70 repeat relationships: 40 still active in FY2025, 30 since wound down.

How the two cohorts compare

Re-uppedFunded once

Organizations

70
7

Total granted

$4.6M
$57k

Median revenue growth · since first grant

+32%
-3%

Still filing today

64%
29%

New vs renewed · share of each year

In FY2025, 100% of grant dollars renewed an existing relationship; $0 went to new ones.

50%100%’17’18’19’20’21’22’23’24’25
RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

’17’18’19’20’21’22’23’24’25
ReligionHuman ServicesHealthCrime & LegalHousing & ShelterEducationOther
How this is measured
First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

  • DL
    DALLAS LIFE INC
    9× · 2017–2025 · $376k · revenue +71%
  • IL
    International Living Streams
    9× · 2017–2025 · $245k · revenue +208%
  • MM
    MASTERMEDIA MINISTRIES INC
    9× · 2017–2025 · $225k · revenue +32% · 68% of their budget

Funded once

  • AF
    ABIDING FATHERS
    one grant, 2023 · $10k · revenue -52%
  • PC
    PLANO CHILDREN'S MEDICAL CLINIC
    one grant, 2017 · $10k
  • HS
    HOPE SUPPLY CO (CAPT HOPE'S KIDS)
    one grant, 2017 · $10k
How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

1
Healing Hearts Ministries International

Post-abortive and family crisis counseling via small groups, email, and publications; focus is to bring healing and forgiveness in a supportive, Christ-centered environment.

—
2
UnBound North Texas

Unbound North Texas exists to support survivors and resource the community to fight human trafficking through Survivor Advocacy, a 24/7 Drop-In Center, and Prevention and Awareness.

—
3
Lifesource Ministries Inc

Christ-centered organization dedicated to empowering women with the truth and hope they need to choose life. develop and distribution of informational and educational materials.

Health
4
First Baptist Denton Ministry Center

The mission of First Refuge Ministries is to share the Gospel of Jesus Christ by offering essential services to those in need within our community. Our belief is that every person has worth and value since they are created by God. Our goal…

Health
5
Life International

To partner with leaders globally to boldly proclaim the biblical truth of the father's heart for life, champion the gospel of jesus christ, and establish life-giving ministries.

Health
6
His Story Coaching and Counseling

Christian coaching, counseling, assessment and consulting services to the communities of Tarrant County, Texas.

Human Services
7
My Choices Dba Obria Medical Clinics Pnw

To share the truth and love of Jesus Christ in conjunction with a ministry to those facing pregnancy related issues: a pregnant womens' counseling program, a free pregnancy testing program, a maternity support (baby supplies, clothing and…

Health
8
Texas Reach Out Inc

Provides housing and spiritual development for Christians reintegrating into society upon exiting the criminal justice system.

Health
9
Shared Christian Ministries

Our mission is to provide quality comprehensive free or low cost medical care for the uninsured, whatever their race or religion. The Clinic's services are available to any uninsured adult, 18 years old or older.

Health
10
Christianity Today International

Christianity Today is a global community inspired by evangelical conviction to advance the stories and ideas of the kingdom of God. Our mission is to elevate the storytellers and sages of the global church.

Religion
11
Divine Mercy Ministries Inc

Divine Mercy Ministries, Inc. is a Christian maternity home for women 18 years of age and older facing unexpected pregnancies. Open to women of all faiths, it provides a loving and nurturing environment to meet the spiritual, physical,…

Religion
12
Crossroads Pregnancy Care

Crossroads Pregnancy Care is a Christ-centered and life-affirming ministry, providing hope, help, and healing to families affected by unplanned pregnancies or hurting from past abortions, and promoting sexual integrity. Social services…

Health
How this is measured
The grantee most central to the portfolio’s shape is White Rock Center of Hope Inc; the most unlike its peers is Beyond Ordinary Women Ministries. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.
05the grantee network

52 grantees tracked through their own filings, 2017–2025.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2025, not grant rows in a single year, so this will not match the grant count on the cover. 52 of the 78 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

1
Load-bearing (≥25% of a budget)
16
Early backer (in before they grew)
48/52
Grantees still filing
39/52
Grew since first funded

Where the money sits, by cause and then by grantee

DALLAS LIFE INC: $376,029 · OtherDALLAS LIFE INCHARVESTERS REACHING THE NATIONS: $225,000 · OtherHARVESTERS REACHING THE NATIONSDALLAS LIFE FOUNDATION: $180,000 · OtherDALLAS LIFE FOUNDATIONIndividual grant recipient: $160,000 · OtherIndividual grant recipientUNION GOSPEL MISSION: $115,000 · OtherSERVINGHIM HEALTHCARE INTERNATIONAL: $105,750 · OtherSAMARITAN INN INC: $91,500 · OtherPRESTONWOOD CARING PEOPLE NETWORK: $90,000 · OtherBROTHER BILLS HELPING HAND: $88,150 · OtherDISCIPLES MAKING DISCIPLES MINISTRY: $85,000 · Other+29 more: $825,500 · Other+29 moreInternational Living Streams: $245,000 · ReligionInternational Living St…MASTERMEDIA MINISTRIES INC: $225,000 · ReligionMASTERMEDIA MINISTRIES …NEED HIM NATIONAL MEDIA OUTREACH INC: $70,000 · ReligionNEED HIM NATIONAL MEDIA…East-West Ministries International: $55,000 · ReligionEast-West Ministries In…LEADER FORMATION INTERNATIONAL: $50,000 · ReligionBEYOND ORDINARY WOMEN MINISTRIES: $45,000 · ReligionWITNESS BREAKTHROUGH INC: $40,000 · ReligionWELL COMMUNITY: $35,000 · ReligionUNCHARTED MINISTRIES: $35,000 · Religion+7 more: $170,900 · Religion+7 moreLIFESAVERS FOUNDATION: $175,800 · Human ServicesLIFESAVERS FOUNDAT…BRAVELOVE INC: $150,000 · Human ServicesBRAVELOVE INCChristian Works For Children Inc: $85,000 · Human ServicesChristian Works Fo…WHITE ROCK CENTER OF HOPE INC: $81,000 · Human ServicesWHITE ROCK CENTER …HOPE'S DOOR NEW BEGINNING CENTER: $76,576 · Human ServicesHOPE'S DOOR NEW BE…HOPE SUPPLY CO: $60,000 · Human ServicesHOPE SUPPLY COBella House Inc: $35,000 · Human ServicesMEN OF NEHEMIAH INC: $35,000 · Human ServicesCHILD PROTECTIVE SERVICES COMMUNITY PARTNERS INC: $32,000 · Human Services+1 more: $25,000 · Human ServicesHEALING HANDS MINISTRIES INC: $61,100 · HealthWRC Pregnancy Center of Ellis County DBA FirstLook: $35,000 · HealthREAL OPTIONS: $30,000 · HealthHEALTH SERVICES OF NORTH TEXAS INC: $30,000 · HealthOPEN ARMS HEALTH CLINIC INC: $25,000 · HealthCaringBridge: $15,000 · HealthSIMPLY GRACE: $8,500 · HealthALIVE AT LAST: $70,405 · Crime & LegalTrinity Restoration Ministries: $35,000 · Crime & LegalONE MAN'S TREASURE: $35,000 · Crime & LegalCare Net: $140,000 · Civil RightsCHRISTIAN COMMUNITY ACTION: $70,000 · Housing & ShelterMercy House Ministries Inc: $25,000 · Housing & Shelter
Other$2,341,929Religion$970,900Human Services$755,376Health$204,600Crime & Legal$140,405Civil Rights$140,000Housing & Shelter$95,000

Each grantee by its size and the funder’s share of it; top left is load-bearing

25%50%75%100%$100k$1.0M$10M$100Mgrantee revenue →↑ funder's share of their budgetDALLAS LIFE INC: $376,029 over 9y, 3.7% of budgetInternational Living Streams: $245,000 over 9y, 11% of budgetMASTERMEDIA MINISTRIES INC: $225,000 over 9y, 68% of budgetLIFESAVERS FOUNDATION: $175,800 over 9y, 2.2% of budgetBRAVELOVE INC: $150,000 over 9y, 5.8% of budgetCare Net: $140,000 over 7y, 0.4% of budgetSAMARITAN INN INC: $91,500 over 9y, 0.3% of budgetBROTHER BILLS HELPING HAND: $88,150 over 9y, 0.4% of budgetChristian Works For Children Inc: $85,000 over 9y, 0.8% of budgetWHITE ROCK CENTER OF HOPE INC: $81,000 over 9y, 0.7% of budgetHOPE'S DOOR NEW BEGINNING CENTER: $76,576 over 8y, 0.2% of budgetALIVE AT LAST: $70,405 over 9y, 9.2% of budgetCHRISTIAN COMMUNITY ACTION: $70,000 over 9y, 0.1% of budgetNEED HIM NATIONAL MEDIA OUTREACH INC: $70,000 over 9y, 1.1% of budgetHEALING HANDS MINISTRIES INC: $61,100 over 6y, 0.2% of budgetNORTH TEXAS FOOD BANK: $60,000 over 6y, 0.0% of budgetHOPE SUPPLY CO: $60,000 over 6y, 0.3% of budgetLEADER FORMATION INTERNATIONAL: $50,000 over 9y, 14% of budgetWILKINSON CENTER: $47,500 over 6y, 0.4% of budgetBEYOND ORDINARY WOMEN MINISTRIES: $45,000 over 9y, 5.7% of budgetAttitudes & Attire: $40,600 over 6y, 2.4% of budgetMETRO RELIEF: $40,000 over 4y, 1.1% of budgetWITNESS BREAKTHROUGH INC: $40,000 over 8y, 5.5% of budgetTrinity Restoration Ministries: $35,000 over 4y, 2.9% of budgetWELL COMMUNITY: $35,000 over 4y, 2.0% of budgetWRC Pregnancy Center of Ellis County DBA FirstLook: $35,000 over 4y, 0.8% of budgetBella House Inc: $35,000 over 4y, 1.4% of budgetUNCHARTED MINISTRIES: $35,000 over 4y, 0.4% of budgetMEN OF NEHEMIAH INC: $35,000 over 4y, 0.2% of budgetONE MAN'S TREASURE: $35,000 over 4y, 1.0% of budgetCHILD PROTECTIVE SERVICES COMMUNITY PARTNERS INC: $32,000 over 6y, 0.2% of budgetINTERNATIONAL COMMISSION INC: $30,000 over 3y, 0.3% of budgetSAMARITAN'S PURSE: $30,000 over 3y, 0.0% of budgetUnite Life: $30,000 over 3y, 5.4% of budgetREAL OPTIONS: $30,000 over 3y, 0.6% of budgetHEALTH SERVICES OF NORTH TEXAS INC: $30,000 over 3y, 0.1% of budgetCHRISTIAN MOTORCYCLISTS ASSOCIATION INC: $30,000 over 3y, 0.1% of budgetRECONCILIATION OUTREACH MINISTRIES INC: $25,900 over 5y, 11% of budgetMercy House Ministries Inc: $25,000 over 4y, 3.1% of budgetOPEN ARMS HEALTH CLINIC INC: $25,000 over 4y, 2.1% of budgetABBA WOMEN'S CENTER INC: $25,000 over 3y, 1.7% of budgetWay Media Inc: $20,000 over 2y, 0.1% of budgetHIS BRIDGEBUILDERS INC: $15,000 over 3y, 0.8% of budgetCaringBridge: $15,000 over 3y, 0.1% of budgetGo MAD Ministries Inc: $14,000 over 3y, 1.7% of budgetABIDING FATHERS: $10,000 over 1y, 2.0% of budgetSIMPLY GRACE: $8,500 over 2y, 0.4% of budgetNEXT Worldwide Inc: $5,000 over 1y, 0.4% of budget
Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

  • Who funds DALLAS LIFE INC ↗
  • Who funds International Living Streams ↗
  • Who funds MASTERMEDIA MINISTRIES INC ↗
  • Who funds LIFESAVERS FOUNDATION ↗
  • Who funds BRAVELOVE INC ↗
  • Who funds Care Net ↗
  • Who funds SAMARITAN INN INC ↗
  • Who funds BROTHER BILLS HELPING HAND ↗
  • Who funds Christian Works For Children Inc ↗
  • Who funds WHITE ROCK CENTER OF HOPE INC ↗
  • Who funds HOPE'S DOOR NEW BEGINNING CENTER ↗
  • Who funds ALIVE AT LAST ↗
  • Who funds CHRISTIAN COMMUNITY ACTION ↗
  • Who funds NEED HIM NATIONAL MEDIA OUTREACH INC ↗
  • Who funds HEALING HANDS MINISTRIES INC ↗
  • Who funds NORTH TEXAS FOOD BANK ↗
  • Who funds HOPE SUPPLY CO ↗
  • Who funds East-West Ministries International ↗
  • Who funds LEADER FORMATION INTERNATIONAL ↗
  • Who funds WILKINSON CENTER ↗
  • Who funds BEYOND ORDINARY WOMEN MINISTRIES ↗
  • Who funds Attitudes & Attire ↗
  • Who funds METRO RELIEF ↗
  • Who funds WITNESS BREAKTHROUGH INC ↗
  • Who funds Trinity Restoration Ministries ↗
  • Who funds WELL COMMUNITY ↗

Co-funders

Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a tightly interlocked group: most of these funders back each other's grantees too.

Communities Foundatio…Hillcrest FoundationTexas Instruments Fou…W P & Bulah Luse Foun…Research Educational …Hattie Mae Lesley Fou…The Dallas FoundationUnited Way of Metropo…Episcopal Health Foun…Council for LifeHoblitzelle FoundationThe Florence Foundati…
Communities Foundation of Texas IncTX49.2× affinity31 shared granteesties to 11 of 11Hover any node to trace its alignments.Compare side by side →

Open a dossier: Communities Foundation of Texas Inc · Hillcrest Foundation · Texas Instruments Foundation · W P & Bulah Luse Foundation · Research Educational Foundation Inc · Hattie Mae Lesley Foundation Inc · The Dallas Foundation · United Way of Metropolitan Dallas Inc · Episcopal Health Foundation Of Dallas · Council for Life · Hoblitzelle Foundation · The Florence Foundation

How this is measured
Affinity is a Gamma-Poisson posterior co-funding rate, re-centered on the typical rate, so thin evidence shrinks toward no signal. Overlap is association, not proof of shared intent.

How much its grantees rely on government

Each dot is one organization The Thomas Foundation funds: left to right is the share of its income from government, bottom to top the share from The Thomas Foundation. Bigger dots raise more.

2024
’20’21’22’23’24’25
no gov · 10%4%15%34%60%funder's share of their income ↑0%13%25%38%50%share of the org’s income from government →
    no gov moneyreceives it· size = income
    1get no government money at all
    6report government grants on their 990 we could not trace to a source (not plotted)
    0rely on government for over half their income
    ⤢ axis zoomed · 0–50%
    typical government reliance, FY20–25
    How this is measured
    Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.
    05Through Plinth

    Warm introductions · Powered by PlinthPlus

    How do I get to The Thomas Foundation?

    Find your warmest path to The Thomas Foundation through trustees and officers whose names appear on both boards. Search for your organization and Plinth traces the shortest route it can evidence.

    Each link is a name appearing on two organizations’ public IRS 990 filings, matched on that name and, where the filings support it, on location. A same-state match has geographic support, which is a second matching feature rather than confirmation that the two are one person; a cross-state one is the likeliest to be two people who share a name. Every hop shows its tier, low-confidence and distant paths are held back rather than guessed, and it is worth confirming the person before you use the introduction.

    On method. Every financial figure here is read from IRS e-file XML, the funder’s own 990/990-PF, and from the multi-year returns of the 78 grantees we resolved, each linked to its source. Grantee outcomes are each organization’s own program-service reporting (Form 990, Part III), read as association with funding, never as caused by it. Low-confidence name matches are suppressed rather than guessed. How we build these →

    How this is measured
    Each figure carries one of six labels. Filed is what the funder reported on its return. Official is another government record about an organization, such as a federal award or a charity register, joined by name where no shared identifier exists. Resolved is an identity we worked out where the filing named a recipient without an EIN, kept only above a measured confidence threshold. Computed is arithmetic over those, like themes, portfolio clusters and co-funder strength. Context is a statistic about a place rather than about an organization, which is what the need overlay is: it describes the area a grantee’s address sits in, not where its work lands. Inferred is drawn by a model from text, like the partnerships read out of public news and organization websites. Each is labeled where it appears.

    Generated from the IRS Form 990-PF e-file return for fiscal year 2025, released 2025. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

    Source object · view filing

    Play a game based on Thomas’ filings →

    More from the funding graph

    The unnamed billions
    grants reported with no recipient in the public record
    The regranting layer
    51% of grant dollars land in the regranting layer
    The DAF merry-go-round
    $9.7B circulates between donor-advised funds
    The endowment market
    who holds foundation money, and what just moved
    The camps
    funders cluster by geography, not ideology
    By state
    where grant money is based, and what stays home