Albert H & Reuben S Stone Fund
The Albert H & Reuben S Stone Fund is a private foundation located in Gardner, Massachusetts. Established in 1948 and tax-exempt since August 1951, the fund operates as a 501(c)(3) organization with no employees. The foundation's primary focus is awarding scholarships to support education.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.4M
+0.8% YoY
Annual Giving
$156K
-8.6% YoY
Grant Count
33
-10.8% YoY
Avg Grant Size
$5K
+2.4% YoY
Under IRS private-foundation payout rules, Albert H & Reuben S Stone Fund reported a distributable amount of $171K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The fund's stated purpose is to grant scholarships to worthy children who are residents of Gardner, Massachusetts, and to institutions located in the city of Gardner that benefit worthy children of the community. The foundation exclusively funds scholarship programs.
Grantmaking
The Albert H & Reuben S Stone Fund is an active grantmaker focused on scholarship distribution:
Grant Types
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Geographic Focus
Where this funder awards grants
The fund primarily serves Gardner, Massachusetts, with a specific focus on scholarships for worthy children who are residents of Gardner and grants to local institutions that benefit Gardner's youth.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2023:
- Total Assets: $2,340,547
- Total Revenues: $148,238
- Total Expenses: $209,875
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,358,181 | $2,340,547 | $2,403,670 |
| Revenue | $213,693 | $148,238 | $160,065 |
| Expenses | $197,131 | $209,875 | $186,229 |
| Qualifying Distributions | $172,453 | $186,400 | $165,631 |
| Net Investment Income | $74,094 | $72,973 | $139,467 |
| Distributable Amount | $171,150 | $169,346 | $160,696 |
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
191 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include University of Massachusetts ($45,000), Fitchburg University ($13,750), Worcester State Univeersity ($12,500).
| Recipient | Purpose | Amount |
|---|---|---|
| Assumption College Worcester, MA | Scholarships | $3,500 |
| Bridgewater State University Bridgewater, MA | Scholarships | $6,500 |
| Curry College Milton, MA | Scholarships | $3,500 |
| Fitchburg University Fichburg, MA | Scholarships | $13,750 |
| Mount Wachusett Community College Gardner, MA | Scholarships | $5,750 |
| Nichols College Dudley, MA | Scholarships | $1,000 |
| Northeastern University Boston, MA | Scholarships | $750 |
| Purdue University West Lafayette, IN | Scholarships | $1,500 |
| Providence College Providence, RI | Scholarships | $3,500 |
| Saint Anselm College Manchester, NH | Scholarships | $1,250 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Carlton E Nichols | Trustee | 3 | $8,980 |
| Catherine T Nichols | Trustee | 3 | $8,980 |
| Donna J Belle-Isle | Trustee | 3 | $9,150 |
Contact Information
- Address: 31 Lake Street, Suite 181, Gardner, MA 01440
- Telephone: 978-630-2800
- EIN: 04-6050419
Frequently Asked Questions
What does Albert H & Reuben S Stone Fund fund?
The fund's stated purpose is to grant scholarships to worthy children who are residents of Gardner, Massachusetts, and to institutions located in the city of Gardner that benefit worthy children of the community. The foundation exclusively funds scholarship programs.
How do I apply for a grant from Albert H & Reuben S Stone Fund?
The Albert H & Reuben S Stone Fund is an active grantmaker focused on scholarship distribution: • **Grant Volume**: In 2023, the fund made 47 grants totaling approximately $150,675. In 2020, the foundation awarded about 83 scholarships totaling approximately $154,200. • **Recent Grant Recipients**: Recent scholarship grants have been awarded to institutions including Saint Anselm College ($7,000 in 2023), Framingham State University ($5,750 in 2023), Northeastern University, and the University …
Where does Albert H & Reuben S Stone Fund make grants?
The fund primarily serves Gardner, Massachusetts, with a specific focus on scholarships for worthy children who are residents of Gardner and grants to local institutions that benefit Gardner's youth.
What size grants does Albert H & Reuben S Stone Fund award?
In 2024, Albert H & Reuben S Stone Fund awarded 33 grants totaling $156K — an average of about $5K per grant, based on its IRS Form 990 filings.
How much is Albert H & Reuben S Stone Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Albert H & Reuben S Stone Fund reported a distributable amount of $171K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Albert H & Reuben S Stone Fund's EIN?
Albert H & Reuben S Stone Fund's EIN (Employer Identification Number) is 04-6050419. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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