Dogwood Foundation

## Approach Strategy

The Dogwood Foundation is a private, family-run foundation managed by the Merrill family, a prominent dynasty in the American Quarter Horse industry. It does not accept unsolicited applications. All grantmaking flows through established relationships, primarily with the American Quarter Horse Foundation (now the Foundation for the Horse).

### Key Decision Makers - Frank G. Merrill — Trustee/Manager and the foundation''s primary operator. Former AQHA President (2007-2008), NCHA Foundation Trustee, and triple Hall of Famer (AQHA, NCHA, OQHA). He has deep relationships across the equine industry spanning 35+ years. - Kyle Converse, Holly S. Merrill — Family trustees who participate in major giving decisions.

### How to Build a Relationship 1. Enter through the equine industry network. The Merrill family is deeply embedded in the AQHA and NCHA communities. Attend AQHA conventions, NCHA events, and Brazos Valley Stallion Station functions where Frank Merrill is regularly present. 2. Partner with the Foundation for the Horse. The Dogwood Foundation''s primary grantmaking channel is matching grants through this organization. If your research aligns with equine health, apply to the Foundation for the Horse first — Dogwood Challenge funds may support your work indirectly. 3. Demonstrate equine research impact. The foundation has consistently directed funds toward veterinary science and equine health outcomes. Frame proposals around measurable health improvements for horses, particularly Quarter Horses. 4. Leverage Texas equine community connections. The foundation is based in Poolville, TX (Parker County) and operates within the North Texas horse community. Local equine organizations and veterinary schools (Texas A&M College of Veterinary Medicine) may provide warm introductions.

## Funding Patterns

### Financial Profile (2024) - Total Assets: .9M - Annual Revenue: .27M (primarily dividends at 75.9%) - Annual Expenses: .23M - Charitable Disbursements: K (80.5% of expenses) - Officer Compensation: K (7.1% of expenses)

### Giving Patterns - Payout rate: Consistently high at ~5% of assets, well above the IRS-required minimum distribution for private foundations. - Revenue model: Investment-driven (dividends + asset sales = 88.3% of revenue), with modest outside contributions (7.9%). This is a self-sustaining endowment model. - Lean operations: Total liabilities of only ,717 and modest officer compensation (K-K) indicate minimal overhead. Nearly all resources flow to charitable purposes. - Signature vehicle: The Dogwood Challenge matching grant program is the foundation''s marquee initiative. The first Challenge raised .5M total (M from AQHA members matched by K from Dogwood). A second Challenge was subsequently launched. - Focus consistency: Over 25+ years, the foundation has maintained a narrow focus on equine research and health, making it highly predictable for aligned organizations but inaccessible for unrelated causes.

## Peer Comparison

The following table compares the Dogwood Foundation to similarly-sized private foundations in Texas:

### Comparative Analysis - Asset size: At .9M, Dogwood is a mid-sized private foundation in Texas, placing it roughly in the middle tier of the state''s ~8,000+ foundations. - Payout rate: Dogwood''s ~5.2% charitable payout rate is strong compared to the IRS minimum of 5%, indicating genuine charitable intent rather than asset preservation. - Specialization: Unlike most similarly-sized Texas foundations that pursue broad charitable purposes, Dogwood is highly specialized in equine research. This narrow focus makes it distinctive but limits its applicant pool. - Operational efficiency: With charitable disbursements at 80.5% of expenses and officer compensation at only 7.1%, Dogwood operates more efficiently than many peer foundations where administrative costs consume 15-25% of budgets. - Matching model: The Dogwood Challenge matching grant structure is unusual for foundations of this size. Most peer foundations make direct grants rather than leveraging matching programs to multiply impact.

## Recent Activity

### 2024 Filing The foundation filed its most recent Form 990-PF in November 2024, reporting .9M in net assets and K in charitable disbursements. Revenue of .27M was driven primarily by investment dividends (K), consistent with the foundation''s endowment-based model.

### Leadership Continuity Frank G. Merrill continues as Trustee/Manager. In June 2021, he joined Brazos Valley Stallion Station in Stephenville, TX as General Manager, expanding his industry footprint while maintaining the foundation. He subsequently retired from that position, continuing his focus on M5 Performance Bloodstock (equine appraisal, bloodstock consultation, and expert testimony).

### Dogwood Challenge Legacy The foundation''s signature program — the Dogwood Challenge — has been conducted in multiple rounds: - First Challenge (late 1990s): Raised .5M total for equine research (M from AQHA members + K Dogwood match) - Second Challenge: Announced at the 60th Annual AQHA Convention in Reno, following the same : matching structure

### Industry Context The Foundation for the Horse (successor to American Quarter Horse Foundation) awarded over K in equine research grants in 2024 alone across 15 projects. While no Dogwood Foundation grants were specifically named in the 2024 cycle, the foundation''s historical support for this ecosystem has helped build the infrastructure that funds ongoing equine health research.

### Financial Stability With .9M in assets generating consistent dividend income and minimal liabilities (,717), the foundation is well-positioned for sustained grantmaking at current levels (~K-M/year) indefinitely.

## Application Tips

### Critical: This Foundation Does Not Accept Unsolicited Applications

The Dogwood Foundation is a preselected-only family foundation. There is no public application portal, form, or deadline. All grants are directed by the Merrill family trustees through established relationships.

### Realistic Pathways for Funding

If you work in equine research or veterinary science: 1. Apply to the Foundation for the Horse (foundationforthehorse.org/grants) — This is the primary channel through which Dogwood Foundation funds flow. The Foundation offers Innovation and Discovery Research Grants and Young Investigator Research Grants with regular cycles. 2. Engage with AQHA events — Present research at AQHA conventions and equine health symposia where the Merrill family is active. Building a professional relationship is the only pathway to direct Dogwood support. 3. Partner with Texas A&M Veterinary Medicine — As a Texas-based foundation with equine focus, relationships with the state''s leading equine veterinary program may create natural pathways.

If you are NOT in the equine field: - This foundation is not a fit. The Dogwood Foundation has maintained a narrow equine research focus for 25+ years with no indication of broadening its scope. Pursuing this funder for non-equine work would be unproductive.

### What Not to Do - Do not send cold emails or unsolicited proposals. The foundation has no public application process and this will not yield results. - Do not confuse this with Dogwood Health Trust (Asheville, NC, B+ assets) — that is a completely different organization with open grant cycles. - Do not confuse this with Charlottesville Dogwood Foundation or Dogwood Alliance — also unrelated organizations.