Hollingsworth Funds

What Hollingsworth Funds does

Hollingsworth Funds Inc. is a private charitable foundation established in 1976 by textile magnate John D. Hollingsworth Jr. and activated in 2001 upon receipt of his approximately $275M inheritance. The foundation operates from Greenville, South Carolina, with a six-person staff and $415M in total assets as of 2025. Its primary product is strategic grantmaking to 501(c)(3) organizations in Greenville County, structured under a fixed distribution formula: 45% to Furman University (primarily the Hollingsworth Scholars program and Economics/Business & Accounting departments), 10% to the YMCA of Greenville, and 45% to other Greenville County nonprofits, with median investments of $50,000 and a range of $15,000 to $500,000.

Hollingsworth's business model is endowment-based: investment returns on the underlying asset pool fund annual grantmaking of roughly $8M, supplemented by real estate proceeds from wholly-owned subsidiaries Verdae Development Inc., Verdae Properties LLC, and the newly formed HF Housing Inc. The foundation distinguishes itself through a SMIRF (Social, Moral, Intellectual, Relations, Financial) capital framework and a collective-impact go-to-market, acting as convener and co-investor across multi-stakeholder initiatives rather than as a standalone grantmaker. Six focus areas anchor its strategy: college and career preparation, post-secondary credential attainment, workplace access and advancement, affordable housing, reliable transportation, and capacity building for nonprofits.

The portfolio of programmatic initiatives — OnTrack Greenville, ASPIRE Scholars at Greenville Tech, CommunityWorks Carolina (a CDFI), the Greenville Housing Fund (1,100+ affordable homes pipeline), Moving to Work (1,700 households), Greater Good Greenville, and the Bolden Street District real estate development — reflects a sustained shift toward long-horizon place-based investing rather than transactional philanthropy. Geographic scope is deliberately restricted to Greenville County per the founding trust documents, and there is no technology product, software platform, or AI component to the operating model.

Name

Hollingsworth Funds

Legal name

Hollingsworth Funds Inc.

Website

https://hollingsworthfunds.org

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

1–10 employees

Short description

Hollingsworth Funds is a Greenville, SC-based private charitable foundation with $415M in assets that distributes roughly $8M annually under a fixed formula (45% Furman, 10% YMCA, 45% Greenville nonprofits) and convenes collective-impact initiatives across affordable housing, education, and workforce development.

Ownership category

akta.pro rank

Product category

Philanthropic Foundation / Community Investment

NAICS

Grantmaking Foundations (813211), Other Grantmaking and Giving Services (813219)

SIC

Services-Social Services (8300), Investors, Nec (6799)

akta.pro primary industry

Private Foundations (BPAGAKAA)

akta.pro secondary industries

College Access, Scholarships & Student Success Nonprofits (BPAGADAE), Community Development & Affordable Housing Funds (FSANAJAK), Scholarship & Fellowship Foundations and Trusts (EDADAHAC)

Keywords

• Philanthropic grantmaking
• Community investment
• Nonprofit foundation
• Affordable housing initiatives
• Workforce development funding

Headquarters

HQ city

Greenville

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Endowment Investment Returns: Hollingsworth Funds operates from an endowment established from the fortune of John D. Hollingsworth, Jr., valued at $275-290 million at his death in 2000. The endowment has grown to $415 million in total assets, generating annual returns that support grantmaking and distributions.
2. Real Estate Development Proceeds: Strategic sale and development of real estate assets (including land parcels for CU-ICAR, The Shops at Greenridge, Verdae development) has contributed to endowment growth and generated funds for grants. Verdae Development Inc. oversees the real estate portfolio.
3. Annual Distributions to Named Beneficiaries: Hollingsworth Funds distributes 45% to Furman University, 10% to YMCA of Greenville, and 45% to Greenville nonprofits. Endowment surpassed $200M with nearly $8M in annual grantmaking.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Hollingsworth Funds is a private charitable foundation that makes strategic grants (median $50,000, range $15,000–$500,000) to 501(c)(3) nonprofit organizations in Greenville County, South Carolina, focused on six economic mobility priorities: college and career preparation, post-secondary credential attainment, workplace advancement, affordable housing, reliable transportation, and nonprofit capacity building. The foundation allocates 45% of annual distributions to Furman University and 10% to the YMCA of Greenville, and supplements grantmaking with real estate development through subsidiary Verdae Development, Inc. to grow its $415 million endowment.

Product overview

Hollingsworth Funds is a charitable foundation serving as a catalyst, convener, collaborator, advocate, and leader in Greenville, SC. Rather than a unified software product, it operates a portfolio of philanthropic programs and initiatives organized around economic mobility: grantmaking through six strategic focus areas (college/career preparation, post-secondary credentials, workplace advancement, affordable housing, transportation, and capacity building), the Hollingsworth Scholars scholarship program at Furman University, and collaborative initiatives including OnTrack Greenville, CommunityWorks, Greater Good Greenville, Greenville Housing Fund, ASPIRE Scholars Initiative, and the Bolden Street District development.

Differentiator

Problem solved

Functional benefit

Products and services

• Hollingsworth Funds Grantmaking Strategic philanthropic grantmaking program focused on six economic mobility priorities: college and career preparation, post-secondary credential attainment, workplace access and advancement, affordable housing, reliable transportation, and capacity building for Greenville County 501(c)(3) nonprofits. Median grant size $50,000, range $15,000 to $500,000.
• Hollingsworth Scholars Program Scholarship program for incoming South Carolina students at Furman University, funded through Hollingsworth Funds' annual distributions and recognizing outstanding academic achievement and community commitment.
• OnTrack Greenville Education initiative helping middle school students in high-poverty Greenville schools stay on track toward high school graduation through improved attendance, behavior, and course performance outcomes.
• CommunityWorks Support Supporting funding and partnership with CommunityWorks Carolina, the Upstate's first community development financial institution, providing financing and coaching services to small businesses with focus on minority- and women-owned businesses.
• Greater Good Greenville Hub for research, best practice, and partnership in the Greenville nonprofit sector, formed from the merger of the Greenville Partnership for Philanthropy and the Nonprofit Alliance.
• Greenville Housing Fund Affordable housing initiative that has generated a pipeline of more than 1,100 affordable homes in Greenville through multi-stakeholder coalition efforts.
• ASPIRE Scholars Initiative Transformative initiative at Greenville Tech providing comprehensive, tailored support to 400+ highest-risk, highest-need students to improve retention and graduation rates.
• Bolden Street District Next-generation 90-acre development along Laurens Road in Greenville creating a vibrant, walkable, trailside community with homes, businesses, and recreation, rooted in Greenville's GVL2040 vision.

Quantifiable outcome

• 86% high school graduation rate in Greenville County
• +6 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

17 partnerships are on record, tiered core, flagship and minor.

• Greenville Housing FundcoreStrategic or Co-development Partner · 1 January 2022Led multi-stakeholder coalition of community leaders to identify Greenville's housing affordability gap which eventually led to creation of Greenville Housing Fund - generating a pipeline of more than 1,100 affordable homes in Greenville.
• Greater Good GreenvillecoreStrategic or Co-development Partner · 1 January 2019Hollingsworth Funds founded the Greenville Partnership for Philanthropy, which eventually merged with the Nonprofit Alliance to become Greater Good Greenville - a hub for research, best practice, and partnership in the nonprofit sector.
• OnTrack GreenvillecoreStrategic or Co-development Partner · 1 January 2019Invested in OnTrack Greenville, a community initiative helping middle school students stay on track toward high school graduation through solutions to attendance, behavior, and course work, since its inception. Provides comprehensive investment including support for OnTrack staff through United Way and serves as thought partner on steering and expansion committees.
• CommunityWorks CarolinacoreStrategic or Co-development Partner · 1 January 2007Founding funder of CommunityWorks Carolina, the Upstate's first community development financial institution (CDFI) to help provide financial services to the un/under-banked in Greenville.
• ASPIRE Scholars Initiative (Greenville Tech)coreStrategic or Co-development PartnerTransformative initiative at Greenville Tech improving retention and graduation rates for 400+ highest-risk, highest-need students by providing comprehensive, tailored support to overcome obstacles and achieve academic and career aspirations.
• Greenville Housing Authority (Moving to Work Initiative)coreStrategic or Co-development PartnerPartnered with The Greenville Housing Authority's Moving to Work Initiative to help 1,700 households find a path to financial stability.
• Greenville TogethercoreStrategic or Co-development PartnerSupported Greenville Together, a community-driven initiative uniting nonprofits, local leaders, landlords, and neighbors to address homelessness and housing instability in Greenville County.
• Public Education PartnerscoreStrategic or Co-development PartnerBegan providing core support for Public Education Partners, who advocates for important education reform in partnership with Greenville County Schools.
• Institute for Child SuccesscoreStrategic or Co-development PartnerFounding funder of Institute for Child Success focused on early learning policy efforts for young children.
• Furman UniversityflagshipStrategic or Co-development PartnerPrimary beneficiary receiving 45% of annual distributions. Majority supports Hollingsworth Scholars program providing scholarships to incoming South Carolina students with outstanding academics and community commitment. Also supports Department of Economics and Business & Accounting.
• YMCA of GreenvilleflagshipStrategic or Co-development PartnerSecondary beneficiary receiving 10% of annual contributions supporting ongoing operating, programming, and capital needs. Core focus on youth development, healthy living, and social responsibility.
• Verdae Development Inc.coreOthersEstablished in 2003 as a subsidiary of Hollingsworth Funds to oversee the real estate portfolio including the 1,100-acre master-planned community of Verdae.
• Bolden Street DistrictcoreStrategic or Co-development Partner90-acre development along Laurens Road announced as next generation destination. Rooted in Greenville's GVL2040 vision, it represents a vibrant, walkable, trailside community where homes, businesses, and recreation come together.
• LaunchGVLminorStrategic or Co-development PartnerPartnered with the Chamber and Greenville County Schools to accelerate Launch GVL, an initiative to connect high school students with paid work opportunities.
• StartUpGVLminorStrategic or Co-development PartnerPartnered with StartUpGVL to support development and sustainability of minority small businesses and the Greenville entrepreneurial ecosystem.
• Greenville ConnectsminorStrategic or Co-development PartnerHelped launch Greenville Connects, a partnership of local businesses and nonprofits committed to expanding ridership on Greenlink.
• Greenville Regional Workforce CollaborativecoreStrategic or Co-development PartnerInvested in the Greenville Regional Workforce Collaborative to position Greenville County for long-term economic success by developing and implementing a next-generation workforce development strategy.

Scale indicators9 records

Recent moves11 records

Expansion highlights4 records

Broad incumbents

• Local Initiatives Support Corporation (LISC): National CDFI and community development intermediary focused on affordable housing and economic development. Comparable to Hollingsworth's affordable housing focus, including the Greenville Housing Fund pipeline and HF Housing Inc.
• The Duke Endowment: One of the largest U.S. private foundations, headquartered in Charlotte, NC, with significant giving across South Carolina including to Furman University. Closest large-scale comparable as a SC/NC-focused private foundation with named beneficiary institutions.
• Enterprise Community Partners: National nonprofit combining capital, policy, and programs to create affordable housing. Comparable to Hollingsworth's LIHTC-driven affordable housing strategy and multi-stakeholder convening model around housing affordability.

Regional players

• Sisters of Charity Foundation of South Carolina: SC-focused Catholic foundation addressing poverty, health, and education. Shares Hollingsworth's focus on economic mobility and systems change in the same state, with overlapping beneficiary populations in South Carolina.
• Central Carolina Community Foundation: Columbia, SC-based community foundation serving the Midlands region with comparable grantmaking, scholarship, and donor-advised fund programs. Closely comparable mission and structure as a South Carolina place-based philanthropic foundation.
• Community Foundation of Greenville: Greenville's community foundation supporting charitable giving across the same Upstate SC geography. Direct regional peer—both are place-based grantmakers operating in Greenville County with overlapping nonprofit partners and shared convening role.
• Coastal Community Foundation: South Carolina Lowcountry-based community foundation serving coastal communities. Comparable community foundation structure, grantmaking model, and regional place-based philanthropic mandate.
• BlueCross BlueShield of South Carolina Foundation: South Carolina-focused corporate foundation addressing health, education, and economic mobility. Comparable SC-based foundation with overlapping focus areas and shared beneficiary populations.
• Spartanburg County Foundation: Upstate SC community foundation serving neighboring Spartanburg County. Comparable structure and regional philanthropic mandate, often partnering with Greenville-area initiatives on shared Upstate priorities.

Direct peers

• Self-Help Ventures Fund: North Carolina-based CDFI providing financing to underserved communities, including affordable housing—directly comparable to Hollingsworth's founding investment in CommunityWorks Carolina and HF Housing Inc. LIHTC platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@HollingsworthFunds/videos
• Instagraminstagram.com/hollingsworthfunds
• LinkedInlinkedin.com/company/hollingsworth-funds

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hollingsworth Funds