American Family Insurance Dreams

MADISON, WI EIN: 47-4493142

The American Family Insurance Dreams Foundation is a private foundation established in 2015 as the charitable arm of American Family Insurance. Based in Madison, Wisconsin, the foundation operates as a 501(c)(3) organization dedicated to nurturing resilient and thriving communities through strategic philanthropy, volunteerism, and matching gift programs.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$31.4M

+72.6% YoY

Annual Giving

$14.3M

+55.3% YoY

Grant Count

+16.7% YoY

Avg Grant Size

$1.0M

+33.1% YoY

Under IRS private-foundation payout rules, American Family Insurance Dreams reported a distributable amount of $590K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation is committed to investing in community partnerships that inspire and protect communities' ability to dream fearlessly. Primary activities include:

Scholarship Programs (launched 2016) - Including dependent scholarships and the Fearless Dreamer Scholarship Program in partnership with the Milwaukee Brewers
Community Grants Program (launched 2015) - Providing unrestricted general operating support to qualified organizations
Employee and Agent Matching Gift Programs (launched 2016) - Enabling employees and agency owners to direct philanthropic investments
Strategic Initiatives - Including the "Free to Dream" initiative, a $105 million commitment over five years focusing on economic empowerment, education, and closing racial equity gaps

Notable program investments include a $2.5 million donation to the Center for Black Excellence and Culture, a community space celebrating Black achievement and supporting education, entrepreneurship, and the arts.

Grantmaking

The foundation has shifted toward trust-based philanthropy, now providing exclusively multi-year, unrestricted general operating support rather than program-specific funding. Nearly 75% of grant funding is committed via multi-year, unrestricted support, reflecting a commitment to reducing power imbalances in traditional funding models and allowing nonprofit leaders to determine how funds are best used in their communities.

Grant Range

$1,000 - $4,727,175

Average Grant

amount: Approximately $10,000 (based on typical awards)

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Geographic Focus

Where this funder awards grants

The foundation funds organizations across 19 U.S. states within American Family Insurance's operating territories, with particular emphasis on communities where the company operates.

Grant Distribution by State

Wisconsin $54.4M (100%)

States

Wisconsin

Cities

See Attachment

Financial History

Multi-year comparison from IRS filings

Assets & Giving (2024):

Total assets: $31,390,095
Total giving: $14,280,730
Total contributions: $17 million

Assets & Giving (2023):

Total assets: $18,187,407
Total revenues: $26,911,149
Total expenses: $11,508,187
Annual giving: $9,196,947

Staffing: The foundation operates with 0 employees, indicating operations are managed through American Family Insurance's corporate structure.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$31,390,095	$18,187,407	$14,254,131
Revenue	$40,002,874	$26,911,149	$25,226,375
Expenses	$11,705,404	$11,508,187	$15,646,223
Qualifying Distributions	$14,280,730	$9,196,947	$11,128,820
Net Investment Income	$404,190	$215,836	$48,396
Distributable Amount	$590,212	$410,391	$326,096

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

70 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Grants ($4,727,175), Matching Cash ($3,407,670), Employee Agent Engagement Cash ($1,561,967).

Recipient	Purpose	Amount
CHARITABLES SEE ATTACHMENT, WI	SEE ATTACHMENT	$205,389
CHARITABLES SEE ATTACHMENT, WI	SEE ATTACHMENT	$200,470
EMPLOYEE AGENT ENGAGEMENT CASH SEE ATTACHMENT, WI	SEE ATTACHMENT	$1,561,967
EMPLOYEE AGENT ENGAGEMENT SEE ATTACHMENT, WI	SEE ATTACHMENT	$697,876
GRANTS CASH SEE ATTACHMENT, WI	SEE ATTACHMENT	$819,500
GRANTS SEE ATTACHMENT, WI	SEE ATTACHMENT	$4,727,175
MATCHING SEE ATTACHMENT, WI	SEE ATTACHMENT	$494,878
MATCHING CASH SEE ATTACHMENT, WI	SEE ATTACHMENT	$3,407,670
SCHOLARSHIP CASH SEE ATTACHMENT, WI	SEE ATTACHMENT	$643,686
ADOPT A SCHOOL SEE ATTACHMENT, WI	SEE ATTACHMENT	$93,000

Leadership & Key People

Leadership team and compensation from IRS filings

Board members include:

William B Westrate (President)
Troy Van Beek (Treasurer)
Thomas Hrdlick (Director)
Telisa Yancy (Director)
Tracy Schwitzer (Director)
Jeff Swalve (Director)
Jessica Stauffacher (Director)
Peter Settel (Director)
Sherina Smith (Director)
Michael Lorion (Director)

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
WILLIAM B WESTRATE	PRESIDENT	—	—
TROY VAN BEEK	TREASURER	—	—
THOMAS HRDLICK	DIRECTOR	—	—
TELISA YANCY	DIRECTOR	—	—
TRACY SCHWITZER	DIRECTOR	—	—
JEFF SWALVE	DIRECTOR	—	—
JESSICA STAUFFACHER	DIRECTOR	—	—
PETER SETTEL	DIRECTOR	—	—
SHERINA SMITH	DIRECTOR	—	—
MICHAEL LORION	DIRECTOR	—	—

Recent News & Activity

Recent developments and announcements

2026

**2026:** Let The Music Play Grants awarded supporting music education in Milwaukee County; Sixth year of Fearless Dreamer Scholarship Program with Milwaukee Brewers announced with applications open

2026 Let The Music Play Grants awarded supporting music education in Milwaukee

2025

**2025:** Fearless Dreamer Scholarship Program application process opened

2025 American Family Insurance and Milwaukee Brewers Fearless Dreamer Scholarship

2024

**2024:** TIME's Dreamer of the Year announced through the foundation's initiatives

TIME's 2024 Dreamer of the Year announced

2021

**2021:** American Family Insurance announced the "Free to Dream" initiative, pledging $105 million over five years to close racial equity gaps and create positive change in communities across the country; CEO Jack Salzwedel and brand ambassador Derek Jeter announced 2021 grant recipients totaling nearly $1.9 million to more than 200 organizations

2026 American Family Insurance and Milwaukee Brewers announce sixth year

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does American Family Insurance Dreams fund?

The foundation is committed to investing in community partnerships that inspire and protect communities' ability to dream fearlessly. Primary activities include: • **Scholarship Programs** (launched 2016) - Including dependent scholarships and the Fearless Dreamer Scholarship Program in partnership with the Milwaukee Brewers • **Community Grants Program** (launched 2015) - Providing unrestricted general operating support to qualified organizations • **Employee and Agent Matching Gift Programs**…

How do I apply for a grant from American Family Insurance Dreams?

**Grant Characteristics:** • Grant range: $1,000 - $4,727,175 • Median grant amount: $569,000 • Average grant amount: Approximately $10,000 (based on typical awards) • Application method: Multi-year commitments with no open call process • Decision timeline: Historically 2-3 months (March application to June announcement) **Recent Activity:** • 2023: $2.3 million invested across 223 charitable organizations • 2022: Approved 72 new scholarship awardees, bringing total scholarships to 281 • 2021: …

Where does American Family Insurance Dreams make grants?

The foundation funds organizations across 19 U.S. states within American Family Insurance's operating territories, with particular emphasis on communities where the company operates.

What size grants does American Family Insurance Dreams award?

In 2024, American Family Insurance Dreams awarded 14 grants totaling $14.3M — an average of about $1.0M per grant, based on its IRS Form 990 filings.

How much is American Family Insurance Dreams required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, American Family Insurance Dreams reported a distributable amount of $590K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is American Family Insurance Dreams's EIN?

American Family Insurance Dreams's EIN (Employer Identification Number) is 47-4493142. IRS Form 990 filing data is available on this page for 2020–2024.