R B Terry Charitable Foundation Inc.

The R.B. Terry Charitable Foundation is among the most concentrated private foundations in North Carolina — a legacy vehicle perpetuating the philanthropic priorities of its late founder, Randall B. Terry Jr. (died May 2004), co-publisher of the High Point Enterprise. Founded in 1996, the foundation has operated with an unwavering two-pillar focus ever since: veterinary medicine education at NC State University, and elite private secondary education at Woodberry Forest School in Virginia.

Understanding this foundation's giving philosophy begins and ends with biography. Terry became a champion of NC State's College of Veterinary Medicine after his Golden Retriever, Nike, received care at the Veterinary Teaching Hospital in 1998. That personal experience prompted him to chair the college's first capital campaign (raising $10 million), and to establish a pattern of transformational giving the foundation has continued posthumously for over twenty years. In parallel, Terry — a 1953 Woodberry Forest graduate — maintained deep loyalty to his alma mater throughout his life.

The foundation makes essentially two large annual grants: one to the NC Veterinary Medical Foundation (supporting NC State's CVM) and one to Woodberry Forest School. These two relationships absorb virtually 100% of major grant dollars. A handful of small recurring $10,000 gifts go to the SPCA of the Triad and Montpelier Foundation, reflecting the board's modest community flexibility.

The board of four directors — Arch K. Schoch IV (President), Charles L. Odom (Treasurer/Asst. Secretary), Oscar Fletcher (VP/Secretary), and Sion A. Boney III (VP) — each receive $40,000 in annual compensation, alongside two committee members at $8,000. These are long-serving stewards, not active program officers seeking new relationships. The foundation has no website, no published application guidelines, and no listed phone number. Its 990 filings explicitly note 'none' for application instructions.

First-time applicants should understand that no known unsolicited application has ever resulted in a new major grantee relationship. Organizations positioned for even a preliminary conversation are those with: (1) a direct mission connection to companion animal medicine or veterinary education at NC State; (2) alignment with elite independent school education in the Southeast; or (3) an existing personal relationship with board members active in High Point, NC civic and professional circles. Any approach must begin with board member cultivation through institutional or alumni channels — not a cold application.

The R.B. Terry Charitable Foundation distributes $8 million to $10.7 million annually, a pace that has been remarkably consistent for over a decade. Grants paid have ranged from $6.49 million (2012) to $10.02 million (2021), with 2023 at $9.01 million and 2022 at $8.51 million. Total giving (including non-cash and in-kind) runs slightly above grants paid: $9.68 million in 2023, $9.25 million in 2022, $10.67 million in 2021. This consistency reflects deliberate, formula-driven stewardship rather than reactive grantmaking.

The grant universe is strikingly concentrated. Across 18 documented grants totaling $45.58 million, two organizations capture virtually all major dollars:

• NC Veterinary Medical Foundation (Raleigh, NC): 5 grants totaling $22.75 million, averaging $4.55 million per grant. Cumulative lifetime relationship exceeds $62 million including founder's personal contributions.
• Woodberry Forest School (Woodberry Forest, VA): 5 grants totaling $22.75 million, averaging $4.55 million per grant, in addition to a $25 million bequest from the founder's estate at his 2004 death.

Two minor grantees fill the portfolio with token community gifts: - SPCA of the Triad (NC): 5 grants totaling $50,000, averaging $10,000 per grant. - Montpelier Foundation (Orange, VA): 3 grants totaling $30,000, averaging $10,000 per grant.

The median grant across all documented awards is approximately $2.5 million — but that figure is entirely driven by the two anchor relationships and is meaningless as a benchmark for prospective applicants. The practical new-entrant range is $10,000 annually at the community level.

Geographically, 10 grants went to North Carolina recipients and 8 to Virginia — a direct reflection of the founder's biography. No grants outside these two states appear in the grantee record.

The foundation's asset base grew from $132 million (2014) to $202.5 million (2024) despite consistent annual payouts near the 5% minimum distribution threshold. Net investment income has ranged from $7.5 million to $13.9 million annually, indicating a well-managed endowment generating returns comfortably above required payout rates. No outside contributions have been received since a one-time $617,836 contribution in 2014.

The table below compares the R.B. Terry Charitable Foundation to its closest asset-size peers in the Philanthropy & Grantmaking NTEE category. Annual giving figures for peers are estimated based on the standard 5% minimum distribution requirement where specific 990 data was not available.

Among $200 million-asset Philanthropy & Grantmaking foundations, the R.B. Terry Charitable Foundation stands out for its extraordinary programmatic concentration — two permanent grantees absorbing essentially the entire grant budget year after year. Most peer foundations at this asset level, even family-driven ones, maintain broader portfolios across multiple cause areas and geographies. The Terry Foundation's structure more closely resembles a private endowment fund dedicated to two specific institutions than a traditional grantmaking foundation. This makes it nearly inaccessible to prospective applicants in ways that even other invitation-only peers are not, since those foundations at minimum rotate through new relationships over time.

The most significant recent action was the January 14, 2022 announcement of the Randall B. Terry, Jr. College of Veterinary Medicine Dean's Chair Endowment at NC State University. The endowment brought the foundation's cumulative contributions to the college — combined with the late founder's personal giving — to over $62 million. Foundation President Arch Schoch IV described the chair as essential to recruiting the 'best and brightest leaders' in veterinary medicine. The timing was significant: the endowment was established as the CVM transitioned to interim dean Kathryn Meurs on January 18, 2022.

Prior to 2022, the most newsworthy action was a $16 million commitment to NC State's CVM announced April 28, 2015 and subdivided into $8 million for scholarship endowments (doubling the college's total scholarship endowment), $5 million for research projects, and $3 million for faculty support. CVM Dean Paul Lund called it transformational for the college's capacity to attract world-class researchers.

No public announcements of new grantee relationships, board leadership changes, or giving strategy shifts have emerged in web research for 2023–2026. The foundation's 2024 fiscal year data shows total assets at $202.5 million and total revenue of $18.9 million, but grant disbursement figures for that filing year are not yet publicly available. The board composition and officer structure have remained stable across multiple consecutive 990 filings, signaling continuity of strategy rather than any transition period.

The R.B. Terry Charitable Foundation does not accept unsolicited grant applications. This is not a bureaucratic limitation — it is the structural reality of how this organization was designed and continues to operate. No application portal exists, no RFP has ever been published, and every 990 filing on record explicitly notes 'none' under application instructions. Grant seekers should reckon with this before investing any significant time.

That said, organizations with genuine mission alignment can take deliberate steps toward the kind of long-term relationship that could, over years, lead to even a modest grant:

Pursue institutional intermediaries first. The NC Veterinary Medical Foundation at NC State (cvm.ncsu.edu/giving/foundation) is the primary grantee and the closest institutional bridge to the Terry Foundation board. Veterinary medicine organizations seeking a warm introduction are far better served cultivating NCVMF leadership — who interact directly with foundation contacts — than approaching the Terry Foundation directly.

Leverage alumni and civic networks. The four board directors are High Point, NC–based professionals. Engagement through organizations like the High Point Chamber of Commerce, the Piedmont Triad Community Foundation, or Woodberry Forest School's alumni networks in the Carolinas represents the most legitimate path to a board member introduction.

Target the small-grant tier deliberately. The SPCA of the Triad and Montpelier Foundation both receive consistent $10,000 annual grants — modest by the foundation's scale but real. Animal welfare and historic preservation organizations in NC or VA with established credibility in the Piedmont Triad region may have realistic standing to be considered for this community tier, particularly through direct personal contact rather than written proposals.

Frame proposals around legacy, not innovation. Any written communication should emphasize continuity with and respect for Randall B. Terry Jr.'s documented values — companion animal welfare, veterinary excellence, and educational quality in the Southeast. The current board is stewarding a founder's vision, not charting new territory. Avoid impact metrics and innovation language; use legacy and mission-alignment language instead.

Avoid all cold outreach. A letter addressed cold to the foundation c/o Charles L. Odom is unlikely to receive a response. Every documented grant relationship predates the founder's 2004 death or was initiated through direct board member relationships.