American Family Insurance Dreams
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
14
+16.7% YoY
Avg Grant Size
$1.0M
+33.1% YoY
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
States
Cities
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.
| 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
No grants recorded for .
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:** 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:** Fearless Dreamer Scholarship Program application process opened
2025 American Family Insurance and Milwaukee Brewers Fearless Dreamer Scholarship**2024:** TIME's Dreamer of the Year announced through the foundation's initiatives
TIME's 2024 Dreamer of the Year announced**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 yearSubject Areas
Focus areas based on grantmaking activity
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Similar funders by location and focus area
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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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