Sharke.ai · Research Release 01 · September 2026
Sharke Research Release 01 Tax year 2023 filings

Three out of four nonprofits get most of their grant money from one funder.

Concentration makes a funding plan depend on a small number of relationships. In a separate comparison of funder filings two years apart, 45 percent of earlier relationships were not observed again. That includes one-time grants; it is not a forecast for an individual funder.

Grant records 1,145,482 Nonprofits 327,904 Funders 26,949 Published September 2026
76%
get most of their grant money from a single funder
29%
have no second funder at all
45%
of earlier relationships were not observed again two years later

It is the same in every state we measured

Seven to eight out of every ten nonprofits lean on one funder for most of their grant money. That holds across the nine largest grant markets in the country, so it is not a small-state problem or a rural one.

half of the nonprofits in the state ALL 9 75.9% IL 80.5% FL 79.2% NC 79.1% PA 79.0% OH 78.7% TX 76.6% GA 76.2% NY 72.6% CA 70.2% 0% 25% 50% 75% 100% share of nonprofits whose largest funder gives them most of their grant money

101,118 nonprofits receiving $100,000 to $5,000,000 in grants. CA 10,794 | NY 7,777 | TX 6,084 | FL 5,301 | IL 4,871 | PA 4,208 | OH 3,797 | NC 3,562 | GA 2,558.

Nearly a third have nobody else

Counting funders instead of dollars says it plainly. For 29 percent of these nonprofits, one grantmaker is the entire grant program.

29.2% 15.2% 29.6% 26.0% 1 funder 2 3 to 5 6 or more

The typical nonprofit here reported 3 funders.

Funders move on

A narrow funding base would be survivable if grantmakers held steady. We took 436,348 grants going out in one filing year and looked for the same organizations two years later. Fewer than 55 percent were still being funded.

54.9% 45.1% funded again two years later not funded again 239,338 relationships 197,010 relationships

8,140 funders whose grantee lists could be compared across two filing years. 82% of them dropped at least one organization they had funded. 83% added at least one they had not.

Most nonprofits depend on one funder for most of their grant money, and a separate comparison found that roughly half of earlier relationships were not observed again two years later.

The comparisons answer different questions: how concentrated recorded grant income is, and whether earlier funder-to-organization relationships appear in later filings. They do not establish the probability that any particular nonprofit will lose its largest funder. One-time awards and incomplete itemization matter when interpreting the result.

The common reaction is to send more applications to more funders. The filings point to a narrower question: if the largest funder stepped back next quarter, which grantmakers have already funded organizations of this size, in this place, doing this work, and how many of them are there?

What this measures, and what it does not

Source
Grants itemized by filing organizations on IRS Form 990 and 990-PF returns for tax year 2023: 1,145,482 grant lines, reduced to 833,972 funder-to-nonprofit relationships once multiple grants between the same pair are summed. Concentration figures cover the 101,118 nonprofits that received $100,000 to $5,000,000, which is the range most organizations with a grant program sit in.
"Most of their grant money"
More than half of the grant dollars an organization received that year came from one funder. Three quarters or more: 52 percent of them. Ninety percent or more: 40 percent.
Renewal
Measured on a separate set of grantee lists covering tax years 2021, 2022 and 2024, so it is reported on its own rather than as one series with the concentration figures. A relationship is not observed again when the funder's later list does not name an organization its earlier list did. This includes awards intended to be one-time grants and does not by itself establish why a relationship is absent.
Vintage
Tax year 2023 is the most recent year with broad coverage. A 2023 return is generally filed in 2024 and released later still, so this is the newest complete picture available, not a picture of this month.
Grant money, not total revenue
Government awards, individual giving, fees and earned revenue are not in this data. Concentration here describes the grant portion of the funding, as filings record it. An organization with one funder in these numbers may well have other income.
A funder that itemizes nothing is invisible
Only grants a filer chose to list appear, which pushes measured funder counts down for some organizations. Treat any single nonprofit's figure as a ceiling on concentration rather than an exact reading.
No dollar totals are published here
The largest entities in this data are donor-advised fund sponsors and in-kind distributors. Adding their dollars to everyone else's produces a number that looks like US grantmaking and is not one. Every figure above is a count, or one organization's own dollars divided among its own funders, which that distortion does not touch.

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