Bernice and Milton Stern Foundation
Bernice and Milton Stern Foundation is a private foundation focused on Arts and culture, based in New York, NY. IRS filing data is available from 2020 through 2024. In 2024, it awarded 5 grants totaling $6.0M. Net investment income was $2.3M.
Bernice and Milton Stern Foundation at a glance
In short: Bernice and Milton Stern Foundation gave $6.0M across 5 grants in 2024 (avg $1.2M), mostly in New York. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $5,977,067
- +491.8% vs 2023
- Grants made (2024)
- 5
- -37.5% vs 2023
- Average grant
- $1,195,413
- +846.9% vs 2023
- Median grant
- $1,488,642
- Primary geography
- New York (50% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Bernice and Milton Stern Foundation funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
The largest 2024 recipient was Pesky Family Foundation ($1.5M). Together the top 5 received $6.0M.
Grant Size Distribution
42 grants across all recorded years
The most common grant size was under $50K: 15 grants of 42 (36%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 5 itemized grants.
Cities
How Bernice and Milton Stern Foundation gives
- Giving grew 595% from 2021 to 2024. Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $645K (2020) to $6.0M (2024). In 2024 it made 5 grants totaling $6.0M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Pesky Family Foundation Miami Beach, FL | To Fund Charitable Exempt Purpose | $1,501,142 |
| The Robert Stern Family Foundation New York, NY | To Fund Charitable Exempt Purpose | $1,488,642 |
| The Morris & Bessie Altman Foundation Shelburne, VT | To Fund Charitable Exempt Purpose | $1,488,642 |
| The Big Wood Foundation New York, NY | To Fund Charitable Exempt Purpose | $1,488,641 |
| Bird on a Cliff Theatre Company Woodstock, NY | To Fund Charitable Exempt Purpose | $10,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | — | $2,346,708 | $6,049,179 | $5,977,067 | 5 | $5,987,765 | $2,270,189 | $316,678 |
| 2023 | $3,339,291 | $394,866 | $1,139,440 | $1,010,000 | 8 | $1,076,107 | $301,179 | $299,694 |
| 2022 | $4,047,522 | $587,038 | $1,228,541 | $1,060,000 | 9 | $1,135,329 | $472,011 | $377,571 |
| 2021 | $4,579,510 | $4,996,446 | $1,030,597 | $860,000 | 8 | — | $773,767 | $359,253 |
| 2020 | $1,990,818 | $317,243 | $796,591 | $645,000 | 12 | — | $244,394 | $145,791 |
Under IRS private-foundation payout rules, Bernice and Milton Stern Foundation reported a distributable amount of $317K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Bernice and Milton Stern Foundation is led by Michael Stern, President since 2021 (on filings since 2020); none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Michael Stern
President
Director → President, 2021
On filings since 2020
$19K (2020) → $0 (2024)
Wendy Pesky
V. President
On filings since 2020
$19K (2020) → $0 (2024)
Peter Stern
Director
On filings since 2020
$19K (2020) → $0 (2024)
Robert Stern
Director
On filings since 2020
$19K (2020) → $0 (2024)
Former officers (1)
- Former: Bernice Stern (2020) — President
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.
Compensation Overview
From 2023 IRS filing
The highest reported compensation on the 2023 filing was $22K, to Wendy Pesky (V. Pres). 4 officers or directors reported compensation on that filing.
Frequently asked questions about Bernice and Milton Stern Foundation
How much does Bernice and Milton Stern Foundation give each year?
Bernice and Milton Stern Foundation gave $6.0M across 5 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.0M across 8 grants.
What is Bernice and Milton Stern Foundation's typical grant size?
Bernice and Milton Stern Foundation's median grant in 2024 was $1,488,642, and its average grant was $1,195,413, across 5 grants on its 2024 IRS Form 990-PF.
Where does Bernice and Milton Stern Foundation give grants?
Bernice and Milton Stern Foundation gives mostly in New York: 50% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were Florida (25%) and Vermont (25%). The most frequent recipient cities were New York, NY (2 grants).
Who are Bernice and Milton Stern Foundation's largest grantees?
Bernice and Milton Stern Foundation's largest 2024 grantees include Pesky Family Foundation ($1,501,142), The Robert Stern Family Foundation ($1,488,642) and The Morris & Bessie Altman Foundation ($1,488,642), according to its 2024 IRS Form 990-PF. Together they received 75% of its itemized 2024 grant dollars.
What is Bernice and Milton Stern Foundation?
Bernice and Milton Stern Foundation is a private foundation focused on Arts and culture, based in New York, NY.
How much is Bernice and Milton Stern Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Bernice and Milton Stern Foundation reported a distributable amount of $317K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Bernice and Milton Stern Foundation's EIN?
Bernice and Milton Stern Foundation's EIN (Employer Identification Number) is 51-0264122. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Bernice and Milton Stern Foundation funds
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