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Joseph W Craft III Foundation

Annual Giving
$7.6M
Grant Range
$10K - $7.5M

Quick Stats

  • Annual Giving: $7,600,000 (2024)
  • Success Rate: Not applicable (invitation only)
  • Decision Time: Not publicly disclosed
  • Grant Range: Varies significantly by recipient
  • Geographic Focus: National, with emphasis on Kentucky and Oklahoma
  • Total Assets: $146,200,000 (2024)

Contact Details

Address: 1717 S Boulder Ave Ste 400, Tulsa, OK 74119-4833
Phone: 918-295-7665
EIN: 73-1514539

Note: The foundation does not accept unsolicited requests for funds.

Overview

The Joseph W. Craft III Foundation was established in 1996 and has been tax-exempt since June 1997. The foundation is a private independent foundation that makes grants to preselected charitable organizations, with assets of $146.2 million as of 2024. Annual giving has grown significantly, reaching $7.6 million in 2024. The foundation's philanthropic approach reflects founder Joseph Craft III's commitment to individual responsibility, economic freedom, reducing poverty, and providing opportunities for those pursuing the American dream. Joseph Craft, Chairman, President and CEO of Alliance Resource Partners LP, took The Giving Pledge in May 2013, committing to give the vast majority of his resources to philanthropic causes. The foundation's grantmaking has been consistent, with 16 awards in 2023, 23 awards in 2022, and 32 awards in 2021.

Funding Priorities

Priority Areas

The foundation gives primarily for:

  • Higher Education: Major support for universities, particularly the University of Kentucky (Craft's alma mater) and Morehead State University
  • Secondary Education: Notable support for the Craft Academy for Excellence in Science and Mathematics at Morehead State University
  • United Way: Regular support for United Way organizations
  • Healthcare: Contributions to healthcare facilities and initiatives
  • Free Enterprise Initiatives: Support for institutions and programs that promote economic freedom and free enterprise principles
  • Community Development: Support for organizations in Kentucky and Oklahoma

Recent Major Commitments

  • University of Kentucky: Multiple major gifts including $7.5 million (2022) for football facility renovation, $4.8 million (2016) for football operations, $3 million (2019) for the Institute for the Study of Free Enterprise
  • Morehead State University Craft Academy: Over $10 million in cumulative support, including an additional commitment in 2023 to expand enrollment by 40 students to 240 total
  • Joe Craft Tower at Hazard ARH Hospital: Significant healthcare facility support

Philosophical Framework

As stated in Joseph Craft's Giving Pledge letter, the foundation targets causes that embrace:

  • Individual responsibility
  • Economic freedom
  • Reducing poverty
  • Providing opportunities for those willing to chase the American dream

Governance and Leadership

Founder: Joseph W. Craft III

Joseph W. Craft III was born in 1950 in Hazard, Kentucky, one of the poorest areas in the country. He earned an undergraduate degree in accounting (1972) and a JD degree (1976) from the University of Kentucky. He serves as Chairman, President and CEO of Alliance Resource Partners, L.P., the third-largest coal producer in the eastern United States. Craft is a dedicated philanthropist who supports education, free enterprise initiatives, and social services throughout Kentucky and beyond.

Philanthropic Philosophy: In his Giving Pledge statement, Craft wrote: "I am excited to think about breaking barriers and providing opportunities. In my view, this is how America was designed and meant to be." He emphasizes that his success came through "hard work, financial discipline and teaming up with great people" and witnessed firsthand how private industry, not government programs, could create economic opportunities in his home region.

Kelly Craft (spouse): Co-founder of the Craft Academy at Morehead State University, former United States Ambassador to Canada and United Nations, native of Glasgow, Kentucky. The Crafts work together on many philanthropic initiatives.

Application Process & Timeline

How to Apply

The Joseph W. Craft III Foundation does not accept unsolicited requests for funds. The foundation makes contributions exclusively to preselected charitable organizations identified through the founder's personal connections, board relationships, and philanthropic interests.

Grant decisions appear to be made at the discretion of the foundation's leadership based on alignment with the foundation's mission and Joseph Craft's philanthropic priorities.

Getting on Their Radar

Given that this foundation does not have a public application process, organizations seeking funding would need to:

  • Build relationships with the Craft family: The foundation's major grants go to institutions where Joseph and Kelly Craft have personal connections, particularly their alma maters and organizations in their home regions of Kentucky and Oklahoma
  • Demonstrate alignment with free enterprise principles: The foundation prioritizes organizations that embrace individual responsibility, economic freedom, and opportunity creation
  • Focus on education: The majority of publicly visible grants support higher education institutions and educational initiatives in science, mathematics, and free enterprise
  • Kentucky and Oklahoma connections: Geographic proximity or connection to these states appears to be a significant factor in funding decisions

Note: The Craft family has also made major philanthropic commitments through personal giving outside the foundation structure, including the co-founding of the Craft Academy with over $10 million in support from both the foundation and personal resources.

Application Success Factors

Since this foundation operates on an invitation-only basis, success in receiving funding depends on:

  1. Personal Connection: Virtually all major grants appear to flow to organizations where Joseph or Kelly Craft have a personal connection, particularly as alumni, board members, or community members

  2. Alignment with Free Enterprise Philosophy: Organizations that promote individual responsibility, economic freedom, and opportunity creation align with the foundation's stated mission

  3. Educational Focus: Higher education institutions, particularly those developing future business leaders or promoting free enterprise principles, appear to be priority recipients

  4. Kentucky and Oklahoma Presence: Strong preference for organizations serving these states, particularly Eastern Kentucky (Craft's birthplace region)

  5. Clear Impact on Opportunity Creation: Craft's Giving Pledge statement emphasizes "breaking barriers and providing opportunities" - programs demonstrating this impact align with his vision

  6. Track Record of Excellence: Major recipients like University of Kentucky and Morehead State University are established institutions with proven track records

Key Takeaways for Grant Writers

  • No public application process: This foundation operates exclusively through preselected charitable organizations - unsolicited applications are not accepted
  • Relationship-driven: Funding flows primarily through Joseph and Kelly Craft's personal networks and connections
  • Education is paramount: Higher education, particularly in Kentucky, receives the majority of publicized support
  • Free enterprise alignment matters: Organizations promoting economic freedom, individual responsibility, and opportunity creation align with the foundation's mission
  • Significant funding capacity: With $146.2 million in assets and $7.6 million in annual giving, this is a substantial foundation
  • Long-term commitment: The foundation makes multi-year, multi-million dollar commitments to priority organizations rather than one-time small grants
  • Focus over breadth: The foundation made only 16 grants in 2023, suggesting highly selective grantmaking focused on strategic priorities
  • Consider personal giving routes: Major Craft family philanthropic initiatives (like the Craft Academy) have involved both foundation and personal resources

References

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