Emerald Foundation Inc is a private foundation based in New York, NY, established in 1998. The foundation operates as a 501(c)(3) tax-exempt organization and focuses on philanthropic grantmaking across education, health care, and scientific research initiatives.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$25.3M
-4.1% YoY
Annual Giving
$1.5M
+10.5% YoY
Grant Count
31
+29.2% YoY
Avg Grant Size
$50K
-14.4% YoY
Mission & Focus Areas
The foundation primarily funds research using tumor organoid and mouse models to investigate how the loss of claudin proteins affects tumor invasion and metastasis through innovative cell biology techniques. Beyond this core research focus, the foundation supports initiatives in:
- Education and higher education
- Health care and in-patient medical care
- Hospital care
- Diseases and conditions research
Grantmaking
The foundation awarded 24 grants in 2023, with an average grant size of approximately $162 based on available data.
Grant Range
of approximately $162 based on available data.
Average Grant
of approximately $162 based on available data.
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Geographic Focus
Where this funder awards grants
The foundation supports organizations across multiple states and cities, including:
States: California, Florida, Kentucky, Massachusetts, Maryland, New York, Pennsylvania
Cities: Baltimore, Boston, Cambridge, Cocoa Beach, East Guelph, La Jolla, Lexington, Nantes, New York, Pasadena, Philadelphia, San Francisco, Santa Barbara
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total assets: $26,434,742
- Total revenue: $1,031,630
- Total expenses: $2,225,249
- Number of employees: 0
As of 2024:
- Total assets: $25,345,254
- Total giving: $1,547,500
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $25,345,254 | $26,434,742 | $27,714,621 |
| Revenue | $1,391,658 | $1,031,630 | $1,280,896 |
| Expenses | $2,515,231 | $2,225,249 | $2,078,782 |
| Qualifying Distributions | $2,012,075 | $1,797,516 | $1,644,987 |
| Net Investment Income | $893,502 | $619,879 | $873,660 |
| Distributable Amount | $1,430,960 | $1,379,008 | $1,482,159 |
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
99 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
- Andrew W. Heymann – President/Director
- James P. Mahaffey – Vice President
- William Blum – Treasurer
- Luca Cantelli – Director
- Erika Kellerhals – Director
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JAMES P MAHAFFEY | Vice President | 40 | $125,000 |
| ANDREW W HEYMANN | Pres/director | 8 | — |
| LUCA CANTELLI | Director | 0.5 | — |
| WILLIAM BLUM | Treasurer | 6 | — |
| ERIKA KELLERHALS | Director | 0.5 | — |
Recent News & Activity
Recent developments and announcements
The foundation has been active in supporting cancer research and biomedical innovation, with recent grants focused on advancing understanding of tumor biology and developing novel therapeutic approaches through targeted research initiatives.
Rett Syndrome Research Trust Awards $1.1 Million to Emerald Innovations toSubject 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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