Emerald Foundation Inc
Emerald Foundation Inc is a private foundation based in New York, NY. Its 2024 grants supported research and other charitable organizations, with many of the listed awards funding biomedical research.
Emerald Foundation Inc at a glance
In short: Emerald Foundation Inc gave $1.5M across 31 grants in 2024 (avg $50K), top state Massachusetts. 33% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $1,547,500
- +10.5% vs 2023
- Grants made (2024)
- 31
- +29.2% vs 2023
- Average grant
- $49,919
- -14.4% vs 2023
- Median grant
- $50,000
- Total assets
- $25,345,254
- -4.1% vs 2023
- New grantees (estimate)
- 33% first-time grantees (6 of 18, 2024; small sample)
- Primary geography
- Massachusetts (29% 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 Emerald Foundation Inc
- 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: 40 Wall St Ste 1703, New York, NY 10005
Phone: (212) 267-7600
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Emerald Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Massachusetts Institute of Technolo ($163K across 2 grants). Together the top 10 received $1.2M.
Grant Size Distribution
99 grants across all recorded years
The most common grant size was in the $50–100K range: 47 grants of 99 (47%).
Geographic Focus
Where this funder awards grants
In 2024, the largest shares of grant dollars went to recipients in Massachusetts (29%), Maryland (18%), New York (17%), California (11%), and Pennsylvania (9%). Listed 2024 grants also went to organizations in Kentucky, Michigan, and Florida.
Grant Distribution by State
Share of 2024 grant dollars across all 31 itemized grants.
Cities
Is Emerald Foundation Inc open to new grantees?
33%
first-time grantees, 2024
In 2024, 6 of 18 grantees (33%) were first-time recipients. With only 18 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. First grants averaged $77K; repeat grants $91K. How we count
Medians: $75K first-time, $94K repeat.
- 39% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+9%). Method
- In 2024 it paid out 141% of 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 $1.1M (2020) to $1.5M (2024). In 2024 it made 31 grants totaling $1.5M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Massachusetts Institute of Technolo Cambridge, MA | To study how ferroptosis-based strategies can enhance the efficacy of immunotherapies in breast cancer. | $87,500 |
| University of Maryland Sch of Medic Baltimore, MD | To investigate the regulation of treg lymphatic tumor migration and the interaction among tregs, lymphatic endothelial cells, and tumors to develop strategies of delivering targeted therapies locally instead of systemically. | $75,000 |
| Massachusetts Institute of Technolo Cambridge, MA | To enhance nanoparticle accumulation in desired cell types to develop more effective and safer targeted nanotherapies. | $75,000 |
| University of Maryland Sch of Medic Baltimore, MD | To investigate the regulation of Treg lymphatic tumor migration and the interaction among Tregs, lymphatic endothelial cells, and tumors to develop strategies of delivering targeted therapies locally instead of systemically. | $75,000 |
| NYU School of Medicine New York, NY | To examine the cellular mechanisms through which dendrite-centric Alzheimer's disease pathologies result in cognitive dysfunction and hyper-excitability. | $75,000 |
| Weill Cornell Medicine New York, NY | To identify regulators of lineage reversion that impact resistance to WNT-targeted therapies in colorectal cancer. | $75,000 |
| Dana-Farber Cancer Institute Boston, MA | To map the transcriptional and protein changes induced by lactate and identify the mechanisms that cause NK suppression, on both NK and tumor cells, using high-throughput and unbiased approaches. | $50,000 |
| Whitehead Inst for Biomedical Resea Cambridge, MA | To uncover the set of cell-surface proteins that mediate essential interactions between PDAC cells and their microenvironment. | $50,000 |
| John Hopkins University Baltimore, MD | To investigate how the colon microbiota and host genetics intersect to alter responsiveness to immunotherapy in colorectal cancer. | $50,000 |
| Salk Institute for Biological Studi La Jolla, CA | To use innovative cell biology techniques coupled with genomics to investigate the role of mitochondrial-derived vesicles in cancer cell metabolism. | $50,000 |
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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 | $25,345,254 | $1,391,658 | $2,515,231 | $1,547,500 | 31 | $2,012,075 | $893,502 | $1,430,960 |
| 2023 | $26,434,742 | $1,031,630 | $2,225,249 | $1,400,000 | 24 | $1,797,516 | $619,879 | $1,379,008 |
| 2022 | $27,714,621 | $1,280,896 | $2,078,782 | $1,265,000 | 20 | $1,644,987 | $873,660 | $1,482,159 |
| 2021 | $28,512,507 | $1,800,939 | $2,242,475 | $1,425,000 | 14 | $1,797,792 | $1,374,256 | $1,617,027 |
| 2020 | $28,954,043 | $813,503 | $1,883,153 | $1,125,000 | 10 | — | $496,778 | $1,505,312 |
Under IRS private-foundation payout rules, Emerald Foundation Inc reported a distributable amount of $1.4M 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
No mission statement is provided. The 2024 grants show support for research into cancer, immunotherapy, targeted therapies, Alzheimer’s disease, and heart-cell function. The foundation also supported University of Michigan, whose stated mission is to represent and advocate for its member physicians, and Who We Play For Inc, whose stated mission is to eliminate preventable sudden cardiac death in the young through affordable heart screenings.
Grantmaking
In 2024, the foundation gave $1,547,500 through 31 grants. Awards ranged from $10,000 to $87,500, with a median grant of $50,000.
Among its largest 2024 grants were $87,500 to the Massachusetts Institute of Technology for research on ferroptosis-based strategies to enhance breast cancer immunotherapy, and $75,000 each to the University of Maryland School of Medicine for research on Treg migration and locally delivered therapies, NYU School of Medicine for research on Alzheimer’s disease mechanisms, and Weill Cornell Medicine for research on resistance to WNT-targeted therapies in colorectal cancer. Other grants included $50,000 to Dana-Farber Cancer Institute for research on lactate-induced changes and NK-cell suppression, and $50,000 to Salk Institute for research on mitochondrial-derived vesicles in cancer-cell metabolism. The foundation also gave $50,000 to the University of Michigan and $37,500 to Who We Play For Inc.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists James P. Mahaffey as Vice President; Andrew W. Heymann as President/Director; Luca Cantelli as Director; William Blum as Treasurer; and Erika Kellerhals as Director.
Emerald Foundation Inc is led by Andrew W. Heymann, President & Director on every filing since 2020; 1 of 5 officers listed in 2024 is compensated.
Officers on the 2024 filing
Andrew W. Heymann
President & Director
On filings since 2020
8 hrs/week
No compensation reported
Luca Cantelli
Director
On filings since 2020
0.5 hrs/week
No compensation reported
Erika Kellerhals
Director
On filings since 2022
0.5 hrs/week
No compensation reported
James P. Mahaffey
Vice President
Vice President & Director → Vice President, 2022
On filings since 2020
40 hrs/week
$99K (2020) → $125K (2024)
William Blum
Treasurer
On filings since 2022
6 hrs/week
No compensation reported
Former officers (1)
- Former: Robert A. Ladislaw (2020–2021) — Treasurer & Director
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 2024 IRS filing
The highest reported compensation on the 2024 filing was $125K, to James P Mahaffey (Vice President).
Frequently asked questions about Emerald Foundation Inc
How much does Emerald Foundation Inc give each year?
Emerald Foundation Inc gave $1.5M across 31 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.4M across 24 grants.
What is Emerald Foundation Inc's typical grant size?
Emerald Foundation Inc's median grant in 2024 was $50,000, and its average grant was $49,919, across 31 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Emerald Foundation Inc that year got $77K on average.
Where does Emerald Foundation Inc give grants?
Emerald Foundation Inc's top state is Massachusetts, with 29% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Maryland (18%) and New York (17%). The most frequent recipient cities were Cambridge, MA (5 grants), New York, NY (5 grants), Baltimore, MD (4 grants) and Boston, MA (3 grants).
Does Emerald Foundation Inc give general operating support?
Not in 2024: none of the 31 grants with a stated purpose on Emerald Foundation Inc's 2024 IRS Form 990-PF were described as general or operating support.
Who are Emerald Foundation Inc's largest grantees?
Emerald Foundation Inc's largest 2024 grantees include Massachusetts Institute of Technolo ($162,500 across 2 grants), University of Maryland Sch of Medic ($150,000 across 2 grants) and Weill Cornell Medicine ($150,000 across 3 grants), according to its 2024 IRS Form 990-PF. Together they received 30% of its itemized 2024 grant dollars.
How large is Emerald Foundation Inc?
Emerald Foundation Inc reported $25.3M in total assets on its 2024 IRS Form 990-PF. It paid out $2.0M in qualifying distributions that year, against a required minimum of $1.4M (roughly 5% of its investment assets).
What does Emerald Foundation Inc fund?
No mission statement is provided. The 2024 grants show support for research into cancer, immunotherapy, targeted therapies, Alzheimer’s disease, and heart-cell function. See mission & focus areas ↑
How do I apply for a grant from Emerald Foundation Inc?
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 Emerald Foundation Inc's EIN?
Emerald Foundation Inc's EIN (Employer Identification Number) is 13-3912580. IRS Form 990 filing data is available on this page for 2020–2024.
Does Emerald Foundation Inc 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 Emerald Foundation Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Emerald Foundation Inc funder profile. GrantGraph. Retrieved October 16, 2026, from https://grantable.co/funders/emerald-foundation-inc-morg_e35a4f76159a482ab3e84258bbde7203
BibTeX
@misc{grantable_133912580_2026,
author = {{Grantable}},
title = {{Emerald Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/emerald-foundation-inc-morg_e35a4f76159a482ab3e84258bbde7203},
note = {Accessed 2026-10-16. 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 Emerald Foundation Inc'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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