Rhodes Family Foundation

The Rhodes Family Foundation operates as a tightly-held, family-controlled private foundation with no public application portal, no documented RFP process, and a confirmed "preselected_only" designation in major grantmaker databases — meaning the board proactively identifies and selects grantees rather than responding to unsolicited proposals. Established in September 2017 and headquartered administratively in Garden City, NY, the foundation maintains deep operational ties to Memphis, Tennessee, evidenced by its 901-area-code phone number and the near-total concentration of documented grantmaking in that city.

The foundation's giving philosophy centers on channeling significant capital through established intermediaries rather than making direct operating grants to individual nonprofits. The Community Foundation of Greater Memphis has functioned as the primary distribution vehicle, receiving 3 grants totaling $4,495,422 — approximately 97.8% of all documented grantmaking. This intermediary model suggests the Rhodes family trusts Memphis's community philanthropy infrastructure to steward and direct funds, rather than managing individual grantee relationships in-house.

William C. Rhodes III (Director/President) leads the foundation alongside Amy P. Rhodes (Secretary), Harvey F. Greer Jr. (Treasurer), Madison Rhodes (Director), and Charlie Rhodes (Director). None receive compensation, confirming this is a lean, family-managed vehicle with minimal administrative overhead and no grants staff.

For prospective grantees, the most important thing to understand is that the traditional grant-seeking model — identifying an RFP, submitting a proposal, waiting for a decision — does not apply here. The path to funding runs through four channels:

• Memphis community networks: Cultivate relationships with leaders at the Community Foundation of Greater Memphis, which has served as the foundation's primary distribution channel for years.
• Health and welfare alignment: Every documented grant carries a "Health/Welfare" purpose designation; organizations in health equity, social services, or community well-being in Memphis are the most natural fit.
• Family relationship cultivation: Since the Rhodes family makes all grantmaking decisions personally, credibility with local civic leaders who can provide a warm introduction outweighs any written proposal.
• Long-term presence: With $49.8M in assets and a history of $2M+ annual giving, the foundation has significant capacity for future distributions to organizations it has vetted over time through trusted intermediaries.

The Rhodes Family Foundation's grantmaking history reflects a foundation in rapid growth mode — assets surged from $3.4M at founding (FY2015) to $49.8M by FY2024, a 14x increase in nine years. Total documented grants paid across all reported years reached approximately $7.6M based on Form 990-PF filings.

Annual giving trajectory: - FY2015: $0 (no disbursements in founding year) - FY2019: $341,061 (first documented giving activity) - FY2020: $448,343 - FY2021: $4,425,151 (peak year — likely reflects accelerated distributions) - FY2022: $2,257,060 - FY2023: $2,141,976 - FY2024: ~$100,000 (1 grant, 95% decline from prior year)

The median annual giving for the active 2019–2023 period is approximately $2.1M, with grants paid averaging $2.07M across the three most recent full years (2021–2023). The FY2021 spike to $4.4M likely reflects a one-time accelerated distribution, possibly linked to new capital infusions that year ($12.95M in contributions received).

Grant concentration is extreme: only 2 recipients appear across the entire documented grantee history. Across 4 total documented grants:

• Community Foundation of Greater Memphis (TN): 3 grants totaling $4,495,422 (avg ~$1,498,000 per grant)
• Masters Tournament Foundation (GA): 1 grant of $100,000

The average grant across all 4 grants is $1,148,856. The individual grant floor appears to be $100,000, while the ceiling exceeds $1.5M per distribution. Geographically, Tennessee accounts for 97.8% of grant dollars (3 grants) and Georgia for 2.2% (1 grant). All 4 grants are classified under "Health/Welfare" — no arts, education, environmental, or other categorical spending appears on record.

The FY2024 financials present a striking pattern: while grants fell to $100K, total assets jumped 42.2% to $49.8M, fueled by $9.9M in new contributions and $4.5M in realized investment gains. Private foundations must distribute at least 5% of assets annually — approximately $2.49M at current asset levels — making the FY2024 shortfall a strong indicator of an imminent catch-up distribution cycle in 2025–2026.

The following table compares the Rhodes Family Foundation to five peer foundations with comparable total assets (~$49.8M) in the Philanthropy & Grantmaking sector, as identified in foundation databases:

The Rhodes Family Foundation is broadly representative of this asset class: all six are no-staff or minimal-staff private foundations that do not maintain public application processes or detailed program descriptions. What distinguishes Rhodes from this peer cohort is its documented geographic and programmatic specificity — the Memphis health/welfare concentration and intermediary-based giving model set it apart from peers whose funding areas remain entirely undisclosed in public records. With documented annual giving reaching $2.1M–$4.4M at peak, Rhodes demonstrates an active distribution posture relative to peers whose grantmaking patterns are not publicly traceable. At the $49.8M asset threshold, IRS minimum distribution requirements (~$2.49M annually) are a meaningful operational constraint that will likely drive increased grantmaking activity in 2025–2026.

The most notable recent development is the sharp contrast between asset accumulation and grantmaking in fiscal year 2024. Total assets climbed 42.2% to $49.8M — the highest level in the foundation's history — while charitable disbursements fell 95% to just $100,000 (1 grant). The sole FY2024 grant went to the Masters Tournament Foundation in Augusta, Georgia, marking a departure from the foundation's near-exclusive Memphis focus across FY2019–FY2023.

FY2024 revenue of $15.0M (up from $8.2M in FY2023) was driven by $9.9M in new family contributions and $4.5M in realized asset-sale gains, alongside $611,424 in dividends. Operating expenses fell 88.6% to $243,186, suggesting a year of minimal administrative activity and deliberate capital accumulation.

In November 2025, the foundation filed its Form 990-PF for FY2024, confirming the board now includes Charlie Rhodes as a fifth director alongside William C. Rhodes III (President), Amy P. Rhodes (Secretary), Harvey F. Greer Jr. (Treasurer), and Madison Rhodes. This governance addition may signal a gradual generational transition in the foundation's direction.

No press releases, published grant announcements, or media coverage specific to the Rhodes Family Foundation were identified through web research for 2025–2026. The foundation's website (rhodesfamily.org) did not return accessible content during research, consistent with the foundation's low public profile and preference for relationship-based, invitation-only grantmaking.

Given the Rhodes Family Foundation's confirmed invitation-only operating model and its history of routing capital through the Community Foundation of Greater Memphis, conventional grant-seeking tactics are unlikely to yield results. The following guidance is specific to this funder:

Work through the Community Foundation of Greater Memphis. Three of four documented grants — totaling $4,495,422 — went to this intermediary. If your nonprofit operates in Memphis or serves the Greater Memphis region in a health or welfare capacity, establishing a fund or project relationship with CFGM is the most direct path to eventual Rhodes family support. The Rhodes family likely directs funds to CFGM with informal guidance on sub-grant priorities.

Align tightly with health and welfare framing. Every single documented grant carries a "Health/Welfare" purpose designation. Organizations in health equity, behavioral health, food security, housing stability, community health infrastructure, or social services in Memphis are best positioned. Avoid leading with arts, education, or environmental pitches unless those programs can be credibly connected to measurable health and welfare outcomes.

Do not cold-apply. The foundation's application_instructions in public databases reads "__none__" — no application portal, grant inquiry email, or LOI submission process is documented anywhere. Unsolicited proposals submitted by mail or email are unlikely to receive a response and may not reach the right parties.

Cultivate Memphis civic and philanthropic networks. Board service, committee participation, or sustained visibility at United Way of the Mid-South, the Community Foundation of Greater Memphis, or comparable civic bodies can organically surface your organization to the Rhodes family. Warm introductions from trusted shared contacts carry far more weight than any written proposal.

Time outreach to the distribution cycle. With $49.8M in assets and only $100K disbursed in FY2024, the foundation is significantly behind its IRS minimum distribution requirement (~$2.49M annually). The 2025–2026 window is strategically important for Memphis-area health and welfare organizations to build or deepen foundation relationships ahead of what may be a substantial catch-up grant cycle.

Keep all outreach brief. All board members serve without compensation and invest minimal hours weekly. If any written introduction is warranted, a single-page organizational overview — mission, population served, Memphis health/welfare outcomes, and annual budget — is the right format. Do not lead with a full proposal, a lengthy LOI, or a data-heavy grant application package.