Albert & Ethel Herzstein
The Albert & Ethel Herzstein Charitable Foundation is a private grantmaking foundation established in 1965 by Albert and Ethel Herzstein in Houston, Texas. Albert Herzstein served as Executive Vice President of Big Three Industries until his retirement in 1965, when he and his wife founded the foundation. The foundation operates exclusively for religious, charitable, scientific, literary, and educational purposes.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$132.3M
+4.5% YoY
Annual Giving
$5.9M
+15.5% YoY
Grant Count
320
+9.6% YoY
Avg Grant Size
$18K
+5.4% YoY
Mission & Focus Areas
The foundation's mission is to support free enterprise, strengthen families, preserve heritage, educate individuals and communities, and provide second chances where appropriate, encouraging individuals to realize their potential and ability to achieve their highest quality of life.
The foundation's principles are guided by a fundamental belief in limited government, individual freedom, equality of opportunity, self-sufficiency, hard work, and resourcefulness.
Primary funding areas include:
- Free Enterprise — Initiatives that support and promote free enterprise
- Family Strengthening — Programs that strengthen families and community bonds
- Heritage Preservation — Projects that preserve cultural and historical heritage
- Education — Educational initiatives for individuals and communities
- Second Chances — Programs providing second chances and opportunity
Grantmaking
Over its 60-year history, the foundation has awarded more than $100 million in grants to over 1,300 organizations. Recent notable grants include:
Grant Range
$5,000–$25,000
Average Grant
$14,900–$16,000
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in the Greater Houston area and Texas, with some funding in New Mexico. Grantmaking is concentrated in Texas, District of Columbia, and New Mexico, which account for approximately 91% of all grants. The foundation has supported 422 unique organizations across these regions.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
- Total Assets: $132.3 million (2024)
- Annual Income: $32.4 million (2024)
- Total Giving: $5.9 million (2024)
- Total Expenses: $6.9 million (2024)
- EIN: 74-6070484
- IRS Ruling Year: 1998
Asset growth: Total assets have grown from $89.1 million in 2011 to $132.3 million in 2024. Annual giving has grown from $4.2 million in 2021 to $5.1 million in 2023, with peak grantmaking activity in 2022 at $7.5 million distributed across 502 grants.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $132,253,761 | $126,529,173 | $125,541,648 |
| Revenue | $19,919,271 | $9,391,085 | $4,698,650 |
| Expenses | $6,955,708 | $6,163,060 | $5,069,683 |
| Qualifying Distributions | $6,404,766 | $5,733,385 | $4,349,741 |
| Net Investment Income | $19,415,256 | $8,749,619 | $5,442,595 |
| Distributable Amount | $5,566,078 | $5,861,202 | $6,063,652 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
1 open opportunity from Albert & Ethel Herzstein
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Board of Directors:
- Mike Viator — Chairman
- Craig Loewenstern — Director
- Bryan Miller — Director
- Steven Sheldon — Director
- Rob Shoss — Director
- George W. "Trey" Strake, III — Director
Advisory Directors:
- Richard J. Loewenstern — Emeritus Advisory Director
Staff:
- Renee Masaryk — President
- Kara Boleyn — Grants Officer
- Peter Nagel, JD — Grants Officer
- Marissa Cutaia — Controller
- Kristina Gantz — Executive Assistant
- Cassie Quinonez — Intern
Real Estate:
- Richard Pennington — General Manager, Real Estate
- Ludek Koleckar — Real Estate Superintendent
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| GEORGE W STRAKE JR 1124-2924 | EMERITUS ADVISORY DIRECTOR | 5 | $3,333 |
| RICHARD LOEWENSTERN | EMERITUS ADVISORY DIRECTOR | 5 | $20,000 |
| JUSTINA RENEE MASARYK | PRESIDENT | 28 | $151,958 |
| CRAIG LOEWENSTERN | DIRECTOR | 5 | $20,000 |
| MICHAEL VIATOR | CHAIRMAN | 5 | $30,000 |
| GEORGE W STRAKE III | DIRECTOR | 5 | $20,000 |
| STEVEN SHELDON | SECRETARY/TREASURER | 5 | $30,000 |
| BRYAN MILLER | VICE PRESIDENT | 5 | $20,000 |
| ROBERT SHOSS | DIRECTOR | 5 | $30,000 |
Contact Information
Address: 6131 Westview Drive Houston, TX 77055-5421
Phone: 713-681-7868
Website: www.herzsteinfoundation.org
Email: mail@herzsteinfoundation.org
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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