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Culp Family Foundation

Annual Giving
$2.3M
000

Culp Family Foundation

Quick Stats

  • Annual Giving: $2,313,777 (2024)
  • Total Assets: $35,073,512 (2024)
  • Success Rate: Not applicable (invitation only)
  • Decision Time: Not applicable (preselected organizations)
  • Grant Range: Varies by initiative
  • Geographic Focus: Maryland, Massachusetts, and Virginia
  • Application Method: Invitation only

Contact Details

Address: 8401 Greensboro Drive, Suite 800, McLean, VA 22102-3599

Key Personnel:

  • Wendy H. Culp (Secretary): 863 Alvermar Ridge Drive, McLean, VA

Note: The foundation does not provide public contact information for grant inquiries as they do not accept unsolicited applications.

Overview

The Culp Family Foundation was established in 2013 by H. Lawrence "Larry" Culp Jr., Chairman and CEO of GE Aerospace, and his wife Wendy H. Culp. The foundation received tax-exempt status in January 2013 and has grown significantly since its inception. In 2024, the foundation held total assets of $35.1 million and distributed $2.3 million in grants. The foundation experienced substantial growth in 2024, with revenue of $65.5 million driven primarily by contributions ($50 million) and asset sales ($14.9 million). The foundation focuses on education, environmental conservation, and community development across Maryland, Massachusetts, and Virginia. As a private family foundation, it operates through the selection of preselected charitable organizations and does not maintain a public application process.

Funding Priorities

Grant Programs

The Culp Family Foundation operates as a private grantmaking foundation without designated formal grant programs. Awards are made at the discretion of the foundation's leadership to preselected organizations.

Recent Grant Activity:

  • 2024: 18 awards totaling $2,313,777
  • 2023: 9 awards
  • 2022: 8 awards
  • 2021: 5 awards
  • 2020: 3 awards

Known Recipients:

  • The Potomac School (McLean, VA): $107,143 (identified as of August 2024)

Priority Areas

Based on available information, the foundation supports:

  • Education: K-12 schools and educational institutions
  • Environmental Conservation: Conservation initiatives
  • Community Development: Local community programs

Geographic Focus: Maryland, Massachusetts, and Virginia

What They Don't Fund

As the foundation only makes contributions to preselected charitable organizations, they do not fund unsolicited grant proposals from any organization.

Governance and Leadership

Officers (as of 2024):

H. Lawrence "Larry" Culp Jr. (President, $0 compensation)

  • Chairman and CEO of GE Aerospace (appointed 2018)
  • First outsider to run GE in the company's 126-year history
  • Former President and CEO of Danaher Corporation (2001-2014)
  • Member, Board of Trustees, Wake Forest University
  • Board of Visitors and Governors, Washington College

Wendy H. Culp (Secretary, $0 compensation)

  • Co-founder of the Culp Family Foundation
  • Based in McLean, Virginia

Larry Culp has demonstrated extensive philanthropic leadership both personally through the Culp Family Foundation and corporately through his role at GE Aerospace, where he launched the GE Aerospace Foundation in May 2024 with over $24 million in commitments.

Application Process & Timeline

How to Apply

The Culp Family Foundation does not have a public application process.

The foundation explicitly states that it "only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds." All grants are awarded at the discretion of the foundation's leadership to organizations they have selected.

This is a common structure for private family foundations, where the trustees identify and select beneficiary organizations based on their personal knowledge, relationships, and philanthropic priorities rather than through an open competitive application process.

Decision Timeline

Not applicable. The foundation operates on a discretionary basis with preselected organizations rather than through a formal application and review cycle.

Success Rates

Not applicable for external applicants, as the foundation does not accept unsolicited applications.

Reapplication Policy

Not applicable, as the foundation does not accept applications from organizations not already in relationship with the foundation.

Application Success Factors

Understanding the Foundation's Approach:

Since the Culp Family Foundation does not accept unsolicited applications, traditional application success factors do not apply. However, understanding the foundation's giving patterns can provide insight:

Geographic Alignment: The foundation has focused its giving on Maryland, Massachusetts, and Virginia. Organizations in these states, particularly in the McLean, VA area where the Culp family resides, appear to be priority regions.

Educational Focus: Known grants include support to The Potomac School, a K-12 independent school in McLean, VA, suggesting interest in supporting educational institutions, particularly those with local connections.

Personal Connections: As a private family foundation led by a prominent business leader with deep ties to the Washington, D.C. metropolitan area and connections to institutions like Wake Forest University and Washington College, the foundation appears to support organizations where the family has personal involvement or connection.

Increasing Grant Activity: The foundation has significantly expanded its grantmaking, growing from 3 awards in 2020 to 18 awards in 2024, indicating an increasingly active philanthropic posture.

Key Takeaways for Grant Writers

  • No Public Application Process: This foundation does not accept unsolicited grant proposals; all grants are made to preselected organizations
  • Private Family Foundation: Operated by Larry Culp (GE Aerospace CEO) and his wife Wendy, with all decisions made at trustee discretion
  • Geographic Focus: Giving concentrated in Maryland, Massachusetts, and Virginia, with particular attention to the McLean, VA area
  • Education Priority: Known support for educational institutions, particularly K-12 schools like The Potomac School
  • Growing Activity: Grant activity has increased significantly from 3 awards in 2020 to 18 in 2024, showing expanded philanthropic engagement
  • Relationship-Based: Given the invitation-only structure, grants appear to flow from existing relationships and personal connections of the Culp family
  • Substantial Resources: With $35 million in assets and $2.3 million in annual giving as of 2024, the foundation has significant capacity but maintains selective grantmaking

References

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