Wedge Foundation Inc.

## Approach & Strategy

Wedge Foundation Inc. is a Louisville, Kentucky private family foundation led by Paul Wedge III (President, $126K compensation) along with family members Jody Wedge, Paul Wedge, Baylor Wedge, and Lilly Wedge. The foundation has an extremely concentrated giving profile dominated by University of Kentucky and, secondarily, golf-related philanthropy.

Dominant Grantee: University of Kentucky. UK receives $167K–$270K per year, representing approximately 75–80% of the foundation's annual grantmaking. This suggests a deeply personal connection — likely a Wedge family member attended UK, the family business has ties to UK research or athletics, or the Wedges are major donors to a specific UK program.

Golf Philanthropy: Davis Love Foundation (St. Simons Island, GA) — the charitable arm of PGA Tour golfer Davis Love III — consistently receives $23,500–$25,000 per year. This signals golf-world social connections for Paul Wedge III.

Louisville Community: A small slice of grants (5–10% of total) goes to Louisville community organizations: Gilda's Club Kentuckiana (cancer support), Rooting for Robert, Christ Church United Methodist, and Porcini Farmer Children's Foundation.

Highly Concentrated: With only 4 grants per year and one grantee (UK) receiving the vast majority of funds, this foundation is not a broad-based grantmaker. Its portfolio is personal and relationship-driven.

Declining Assets: No new contributions have been made since 2020. The foundation is slowly depleting its $5.1M founding endowment through annual grantmaking ($200–350K/year). At current rates, the foundation may exhaust assets within 10–15 years.

Website Mismatch: wedge.org is a PHP forum software platform (Wedge CMS) — completely unrelated. The foundation has no public website.

## Funding Patterns

Annual Giving: - FY2024: $211,698 (4 grants) - FY2023: $338,300 - FY2022: $269,232 - FY2021: $313,250 - FY2020: $66,000 (first year of operations)

Grant Distribution: University of Kentucky: ~75–80% of total giving each year Davis Love Foundation: ~8–12% of total giving All others: ~10–15%

Asset Erosion: - FY2020: $5,713,040 (peak, post-founding) - FY2021: $6,255,194 (investment growth) - FY2022: $5,912,937 - FY2023: $4,399,654 - FY2024: $4,097,140 (Granted DB: $3,757,948 — likely filing lag)

## Peer Comparison

Assessment: This foundation is essentially a family vehicle for structured giving to UK and personal golf philanthropy interests. It is not meaningfully accessible to outside nonprofits without a personal connection to the Wedge family.

## Recent Activity

FY2024 Giving Declined: Total grants fell from $338K (FY2023) to $212K (FY2024). The decline may reflect intentional drawdown management as the endowment shrinks.

UK Relationship Deepens: Despite the giving reduction, UK still received $175,698 — maintaining their dominant position.

Samuel L. Asbury Foundation New: The $10K grant to this Atlanta GA foundation is new in FY2024, suggesting a new personal relationship or reciprocal philanthropy network.

Asset Decline Continues: At the current ~$212K/year spending rate with no new contributions, the foundation will exhaust assets in approximately 15–20 years.

Staff Compensation Notable: Paul Wedge III receives $126K annually; Jody Wedge $36K; Paul Wedge $40K. Total officer compensation is ~$206K — close to the total annual grantmaking budget, which is atypical for a foundation of this size.

## Application Tips

This foundation is not a realistic grant prospect for most organizations. The application information is listed as "NA" and virtually all giving goes to University of Kentucky and Davis Love Foundation through established personal relationships.

For the rare aligned organization:

1. University of Kentucky connection required. If your organization has a formal relationship with UK — research collaboration, athletic foundation, alumni organization — and you have a personal connection to Paul Wedge III or family members, there is a theoretical possibility.

2. Golf charity angle. Organizations with connections to PGA Tour charities or the Davis Love Foundation network may have an indirect path.

3. Louisville KY community organizations. A small amount goes to local Louisville charities. Organizations with strong Louisville community presence and personal connections to the Wedge family could potentially be considered.

4. Not publicly solicitable. The foundation does not advertise a grant program, does not have a public website, and has application information listed as "N/A." Cold outreach is not advisable.