The Underdown Family Foundation is a private, family-led philanthropic organization founded in 1993 by Joanne and Parks C. Underdown, Jr. The foundation is dedicated to enriching the quality of life in the greater Hickory, North Carolina area by providing funding to nonprofit organizations that address key community needs. Its mission emphasizes support for education, health, human services, and religious organizations that enhance both individual well-being and community strength.

While the foundation accepts applications year-round, applications must be submitted by April 30 to be considered for the annual summer grant meeting. Funding decisions are typically communicated by the fall. All applicants must be nonprofit organizations with tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Preference is given to organizations with strong ties to the Hickory, NC area and those focused on the foundation’s core priorities of education, health and human services, and faith-based initiatives.

In addition to local support, the foundation occasionally funds regional or national efforts, particularly those related to important disease research and causes with broader social implications. However, the primary focus remains on community impact within Hickory, North Carolina.

Applications are submitted online, and applicants will receive an automated confirmation upon successful submission. Selected grantees may be required to submit periodic progress and final reports to document project outcomes and ensure accountability.

Organizations seeking funding should demonstrate how their programs directly benefit the Hickory community or align with the foundation’s mission and focus areas. While specific award amounts and the number of grants distributed annually are not published, the foundation's guidelines emphasize community impact and alignment with its values as key decision-making criteria.