Coherent Ii-vi Foundation
The Coherent II-VI Foundation is a private corporate foundation based in Pittsburgh, Pennsylvania, established in 2007. It operates as a 501(c)(3) organization dedicated to supporting education in science, engineering, and mathematics through targeted scholarship and grant programs.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$8.8M
+18.9% YoY
Annual Giving
$1.4M
-19.8% YoY
Grant Count
51
-8.9% YoY
Avg Grant Size
$27K
-12.0% YoY
Mission & Focus Areas
The foundation was established to encourage and enable students to enter the fields of science, engineering, and mathematics, with the goal of increasing and improving the pool of engineers and scientists to address technical challenges facing the nation and world.
The foundation operates two primary programs:
- Targeted Undergraduate Scholarships — Scholarships requiring valuable work experience in industrial or scientific settings
- Graduate-Level Block-Gift Program — Research project support at the graduate level
Grantmaking
The foundation's original scholarship criteria included:
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Geographic Focus
Where this funder awards grants
The foundation primarily funds institutions in Pennsylvania, Ohio, and Illinois. Grantees have included Montana State University and various universities across these regions.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
2024 Financial Data
- Total Assets: $8,842,260
- Total Revenues: $3,973,500
- Total Expenses: $1,899,036
- Total Giving: $1,381,018
2023 Financial Data
- Total Assets: $7,437,681
- Total Revenues: $2,182,971
- Total Expenses: $2,217,275
2023 Financial Data (Alternative Source)
- Total Assets: $7.44 million
- Total Liabilities: $122,000
- Revenue: $2.18 million
- Expenses: $2.22 million
Staffing: The foundation operates with 1 employee.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $8,842,260 | $7,437,681 | $7,816,011 |
| Revenue | $3,973,500 | $2,182,971 | $2,805,081 |
| Expenses | $1,899,036 | $2,217,275 | $2,505,579 |
| Qualifying Distributions | $1,805,145 | $2,150,977 | $478,151 |
| Net Investment Income | $2,764,182 | $816,908 | $1,722,338 |
| Distributable Amount | $983,909 | $657,501 | $883,971 |
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
248 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
Executive Leadership:
- Rick Purnell — Executive Director (since foundation inception in 2007)
Board of Directors:
- Carl Johnson — Co-founder and original board member
- Duncan Morrison — Original board member
- Marc Pelaez — Original board member
- Robert German — Board Secretary and legal counsel
- Steve Rummel — Board member (appointed by unanimous vote)
Program Management:
- Dr. Alan Hedges — Manager of the Block-Gift Program (appointed January 1, 2024)
- Dr. Richard H. Hopkins — Former Manager of the Block-Gift Program (served 16 years, transitioned role in January 2024)
Technical Team Consultants:
- Dr. Andy Souzis
- Dr. Timothy F. Murray
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RICHARD W PURNELL | EXECUTIVE DIRECTOR | 40 | $201,200 |
| CARL J JOHNSON | CHAIRMAN EMERITUS & DIRECTOR | 3 | — |
| MARC Y E PELAEZ | CHAIRMAN & DIRECTOR | 3 | — |
| ELGIN EISSLER | DIRECTOR | 3 | — |
| HOLLY S MCCANN ESQUIRE | SECRETARY | 3 | — |
| J D BROOKHART | DIRECTOR | 3 | — |
| YOUNG KAI CHEN | DIRECTOR | 3 | — |
Recent News & Activity
Recent developments and announcements
**Board Expansion:** Steve Rummel was appointed to the Board of Directors, having joined Coherent Corporation in 1988 and serving as Senior Vice President of the Engineered Materials Group since 2019.
**Program Leadership Transition:** Dr. Alan Hedges was appointed as Manager of the Block-Gift Program effective January 1, 2024, following Dr. Richard H. Hopkins' 16-year tenure in the role. The Block-Gift Program was initiated by Carl Johnson in 2008.
**Technical Team Expansion:** The foundation announced additions to its Technical Team, including Dr. Andy Souzis (Ph.D. in Physics from Stevens Institute of Technology) and Dr. Timothy F. Murray (principal consultant and owner of Murray Advisory Services, LLC, and former CEO and Chairman of OFS Fitel LLC).
**2025-2026 Block-Gift Programs:** The foundation announced its block-gift programs for the 2025-2026 academic year.
Subject Areas
Focus areas based on grantmaking activity
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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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