AON Foundation
AON Foundation is a private foundation based in Chicago, Illinois. In 2024, it reported 39 grants totaling $2,200,052, supporting charitable organizations that include community, education, economic-development, and other organizations.
AON Foundation at a glance
In short: AON Foundation gave $2.2M across 39 grants in 2024 (avg $56K), top state Illinois. 27% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $2,200,052
- -2.7% vs 2023
- Grants made (2024)
- 39
- +5.4% vs 2023
- Average grant
- $56,412
- -7.6% vs 2023
- Median grant
- $44,109
- Total assets
- $49,993
- +0.2% vs 2023
- New grantees (estimate)
- 27% first-time grantees (7 of 26, 2024)
- Primary geography
- Illinois (46% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to AON Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 200 E Randolph Street, Chicago, IL 60601
Phone: (312) 381-1000
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who AON Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was American Online Giving Foundation Inc ($766K across 12 grants). Together the top 10 received $2.0M.
Grant Size Distribution
501 grants across all recorded years
The most common grant size was under $50K: 427 grants of 501 (85%).
Geographic Focus
Where this funder awards grants
In 2024, recipients in Illinois received 46% of grant dollars, and recipients in Delaware received 35%. Massachusetts received 6%, Indiana 5%, and Missouri 4%.
Grant Distribution by State
Share of 2024 grant dollars across all 39 itemized grants.
States
Cities
Is AON Foundation open to new grantees?
27%
first-time grantees, 2024
In 2024, 7 of 26 grantees (27%) were first-time recipients. First grants averaged $15K; repeat grants $110K. How we count
Medians: $10K first-time, $15K repeat.
- 65% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (−6%). Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $2.2M (2024) to $2.4M (2020). In 2024 it made 39 grants totaling $2.2M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| American Red Cross Greater Chicago Chapter Chicago, IL | General Operating Support | $500,000 |
| United Way of Metropolitan Chicago Chicago, IL | General Operating Support | $250,000 |
| American Online Giving Foundation Inc Newark, DE | Facilitate Donations to Registered Charities | $166,924 |
| University of Notre Dame Du Lac Notre Dame, IN | General Operating Support | $100,000 |
| World Business Chicago Chicago, IL | General Operating Support | $100,000 |
| American Online Giving Foundation Inc Newark, DE | Facilitate Donations to Registered Charities | $75,725 |
| Facing History and Ourselves Inc Boston, MA | General Operating Support | $75,000 |
| American Online Giving Foundation Inc Newark, DE | Facilitate Donations to Registered Charities | $71,114 |
| St Louis University St. Louis, MO | General Operating Support | $70,000 |
| American Online Giving Foundation Inc Newark, DE | Facilitate Donations to Registered Charities | $67,415 |
Ready to take the next step with AON Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Distributable Amount |
|---|---|---|---|---|---|---|---|
| 2024 | $49,993 | $2,200,139 | $2,200,052 | $2,200,052 | 39 | $2,200,052 | $2,421 |
| 2023 | $49,906 | $2,308,928 | $2,260,028 | $2,260,018 | 37 | $2,260,028 | $2,187 |
| 2022 | $1,006 | $2,238,961 | $2,239,035 | $2,239,035 | 27 | $2,239,035 | $2,114 |
| 2021 | $1,080 | $2,351,136 | $2,351,143 | $2,351,143 | 50 | $2,351,143 | $2,207 |
| 2020 | $1,087 | $2,412,091 | $2,412,075 | $2,412,075 | 348 | — | $2,999 |
Under IRS private-foundation payout rules, AON Foundation reported a distributable amount of $2K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The available information does not state the foundation’s mission. Its 2024 grants included general operating support for organizations such as the American Red Cross Greater Chicago Chapter, United Way of Metropolitan Chicago, and World Business Chicago, as well as grants to the American Online Giving Foundation Inc. to facilitate donations to registered charities.
Grantee missions illustrate the kinds of organizations supported. United Way of Metropolitan Chicago describes its work as partnering with communities to build stronger neighborhoods and create equitable opportunities across the Chicago region. World Business Chicago describes its mission as driving inclusive economic growth and job creation, supporting business, and promoting Chicago as a global city. National Merit Scholarship Corporation says it recognizes and honors academically talented students through nationwide scholarship programs.
Grantmaking
In 2024, the foundation made 39 grants totaling $2,200,052. Grant amounts ranged from $800 to $500,000, with a median grant of $44,109. The largest awards included $500,000 to the American Red Cross Greater Chicago Chapter and $250,000 to United Way of Metropolitan Chicago, both for general operating support. Other notable grants included $166,924 to the American Online Giving Foundation Inc. to facilitate donations to registered charities; $100,000 each to the University of Notre Dame du Lac and World Business Chicago; $75,000 to Facing History and Ourselves; and $70,000 to St. Louis University.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Carolyn Barry Frost as president and treasurer, Darren Zeidel as secretary, and Andy Weitz, Gregory C. Case, and Christa Davies as directors.
AON Foundation is led by Carolyn Barry Frost, President & Treasurer on every filing since 2020; none of the 5 officers listed in 2024 report compensation.
Officers on the 2024 filing
Carolyn Barry Frost
President & Treasurer
On filings since 2020
30 hrs/week
No compensation reported
Andy Weitz
Director
On filings since 2020
1 hr/week
No compensation reported
Christa Davies
Director
On filings since 2020
1 hr/week
No compensation reported
Gregory C. Case
Director
On filings since 2020
1 hr/week
No compensation reported
Darren Zeidel
Secretary
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about AON Foundation
How much does AON Foundation give each year?
AON Foundation gave $2.2M across 39 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $2.3M across 37 grants.
What is AON Foundation's typical grant size?
AON Foundation's median grant in 2024 was $44,109, and its average grant was $56,412, across 39 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from AON Foundation that year got $15K on average.
Where does AON Foundation give grants?
AON Foundation's top state is Illinois, with 46% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Delaware (35%) and Massachusetts (6%). The most frequent recipient cities were Newark, DE (12 grants), Chicago, IL (11 grants), New York, NY (3 grants) and Boston, MA (2 grants).
Does AON Foundation give general operating support?
Yes: 69% of AON Foundation's 2024 grants with a stated purpose (27 of 39) were for general or operating support, per its 2024 IRS Form 990-PF. Recurring purposes include "Facilitate Donations to Registered Charities" (12 grants).
Who are AON Foundation's largest grantees?
AON Foundation's largest 2024 grantees include American Online Giving Foundation Inc ($766,137 across 12 grants), American Red Cross Greater Chicago Chapter ($500,000) and United Way of Metropolitan Chicago ($260,000 across 2 grants), according to its 2024 IRS Form 990-PF. Together they received 69% of its itemized 2024 grant dollars.
How large is AON Foundation?
AON Foundation reported $50K in total assets on its 2024 IRS Form 990-PF. It paid out $2.2M in qualifying distributions that year, against a required minimum of $2K (roughly 5% of its investment assets).
What does AON Foundation fund?
The available information does not state the foundation’s mission. See mission & focus areas ↑
How do I apply for a grant from AON Foundation?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is AON Foundation's EIN?
AON Foundation's EIN (Employer Identification Number) is 36-3337340. IRS Form 990 filing data is available on this page for 2020–2024.
Does AON Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in AON Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). AON Foundation funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/aon-foundation-morg_3eeb5a81e8cd4860a8c689aca2b5e968
BibTeX
@misc{grantable_363337340_2026,
author = {{Grantable}},
title = {{AON Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/aon-foundation-morg_3eeb5a81e8cd4860a8c689aca2b5e968},
note = {Accessed 2026-10-12. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from AON Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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