Equitable Foundation Inc
Equitable Foundation Inc is a private foundation based in New York, New York. Its 2024 giving included the Equitable Excellence Scholarship program and contributions to nonprofit organizations, including education, youth, community, and relief organizations.
Equitable Foundation Inc at a glance
In short: Equitable Foundation Inc gave $5.5M across 1,453 grants in 2024 (avg $4K), top state Minnesota. 39% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $5,538,325
- +15.8% vs 2023
- Grants made (2024)
- 1,453
- +2.5% vs 2023
- Average grant
- $3,812
- +13.0% vs 2023
- Median grant
- $500
- Total assets
- $112,407,153
- +6.0% vs 2023
- New grantees (estimate)
- 39% first-time grantees (553 of 1,419, 2024)
- Primary geography
- Minnesota (33% 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 Equitable Foundation Inc
- How to Apply
-
The Equitable Excellence Scholarship program is administered by Scholarship America. The 2024 filing described eligibility for high school seniors and current undergraduates in the United States, the District of Columbia, or Puerto Rico; applicants had to demonstrate financial need, have at least a 2.5 GPA on a 4.0 scale or equivalent, and agree to allow use of their identity, plans or achievements, and photographs for program promotion. Applications were reviewed by Scholarship America’s evaluation team.
- Review Cycle
- December 18, 2024, or when 10,000 applications were submitted, whichever came first.
- Deadline
- December 18, 2024, or when 10,000 applications were submitted, whichever came first.
- Contact
Application contact: Scholarship America
Mailing address: One Scholarship Way, Saint Peter, MN 56082
Phone: (855) 996-2255
Email: equitableexcellence@scholarshipamerica.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Equitable Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Scholarship America ($1.8M across 2 grants). Together the top 10 received $3.3M.
Organizations only. It also paid 3 grants to individuals ($2,350), which are not listed by name.
Grant Size Distribution
7,627 grants across all recorded years
The most common grant size was under $50K: 7,539 grants of 7,627 (99%).
Geographic Focus
Where this funder awards grants
In 2024, the largest shares of grant dollars went to recipients in Minnesota (33%), North Carolina (21%), the District of Columbia (13%), New York (10%), and Massachusetts (3%). Scholarship awards are described as supporting students from across the country.
Grant Distribution by State
Share of 2024 grant dollars across all 1,453 itemized grants.
States
Cities
Is Equitable Foundation Inc open to new grantees?
39%
first-time grantees, 2024
In 2024, 553 of 1,419 grantees (39%) were first-time recipients. First grants averaged $2K; repeat grants $5K. How we count
Medians: $350 first-time, $500 repeat.
- 46% of 2024 grantees were also funded in 2023. Method
- Giving grew 27% from 2021 to 2024. Method
- In 2024 it paid out 126% 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 $3.5M (2020) to $5.5M (2024). In 2024 it made 1,453 grants totaling $5.5M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Scholarship America Saint Peter, MN | Equitable Excellence 2024 Scholarship Awards | $1,750,000 |
| American Red Cross Washington, DC | General Contribution | $300,000 |
| Thurgood Marshall College Fund Washington, DC | General Contribution | $239,393 |
| Blumenthal Performing Arts Center Charlotte, NC | General Contribution | $200,000 |
| Year up Boston, MA | General Contribution | $157,800 |
| E4E Relief Charlotte, NC | General Contribution | $150,000 |
| CMS Foundation Charlotte, NC | General Contribution | $125,000 |
| Carolina Youth Coalition Charlotte, NC | General Contribution | $107,436 |
| United Way of Central Carolinas Inc Charlotte, NC | General Contribution | $100,000 |
| On Point for College Syracse, NY | General Contribution | $95,892 |
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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 | $112,407,153 | $8,983,863 | $7,475,063 | $5,538,325 | 1,453 | $6,648,565 | $7,946,874 | $5,263,102 |
| 2023 | $106,085,926 | $21,898,403 | $6,777,945 | $4,781,668 | 1,417 | $5,831,470 | $21,859,600 | $4,606,389 |
| 2022 | $96,722,385 | $5,851,300 | $5,849,098 | $4,843,996 | 1,901 | $5,750,146 | $5,796,706 | $5,038,085 |
| 2021 | $120,893,440 | $3,809,582 | $5,607,941 | $4,351,972 | 1,357 | $5,104,923 | $3,745,826 | $5,632,504 |
| 2020 | $110,404,461 | $2,926,402 | $4,577,750 | $3,496,950 | 1,499 | — | $2,876,018 | $4,937,856 |
Under IRS private-foundation payout rules, Equitable Foundation Inc reported a distributable amount of $5.3M 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 foundation’s website describes the scholarship program as supporting students who strive to contribute positively to their communities. The program offers renewable scholarships and access to workshops, mentors, and guidance.
Among its 2024 grantees, Thurgood Marshall College Fund says it works to increase access, retention, and graduation at its member schools and prepare students for leadership and employment. Year Up describes its mission as helping young adults gain skills and support for careers and higher education. Carolina Youth Coalition says it prepares high-performing, under-resourced students for college. Other grantees describe work in school innovation and student opportunities, college access, crisis response, and playspace equity.
Grantmaking
In 2024, the foundation reported 1,453 grants totaling $5,538,325. Grant amounts ranged from $30 to $1,750,000, with a median of $500.
The largest grant was $1,750,000 to Scholarship America for Equitable Excellence 2024 scholarship awards. Other notable grants included $300,000 to the American Red Cross, $239,393 to Thurgood Marshall College Fund, $200,000 to Blumenthal Performing Arts Center, $157,800 to Year Up, and $150,000 to E4E Relief.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Jarian Kerekes as chairman, president, and director; Candace Scappator as controller; Peter Tian as treasurer as of May 2024; and Julia Yun Zhang as treasurer through May 2024. It also lists Jeffrey Hurd as director, Mark Pearson as director through April 2024, and Steve Joenk as director as of April 2024.
Equitable Foundation Inc is led by Jarian Kerekes, Chairman, President & Director on every filing since 2020; none of the 7 officers listed in 2024 report compensation.
Officers on the 2024 filing
Jarian Kerekes
Chairman, President & Director
On filings since 2020
40 hrs/week
No compensation reported
Jeffrey Hurd
Director
On filings since 2020
0.5 hrs/week
No compensation reported
Mark Pearson
Director
On filings since 2020
0.5 hrs/week
No compensation reported
Steve Joenk
Director
New on the 2024 filing
0.5 hrs/week
No compensation reported
Candace Scappator
Controller
On filings since 2020
2.5 hrs/week
No compensation reported
Julia Yun Zhang
Treasurer
On filings since 2020
0.5 hrs/week
No compensation reported
Peter Tian
Treasurer
New on the 2024 filing
0.5 hrs/week
No compensation reported
Former officers (1)
- Former: Michal Levy (2020–2023) — Director · Filing note: Thru 082023
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 Equitable Foundation Inc
How much does Equitable Foundation Inc give each year?
Equitable Foundation Inc gave $5.5M across 1,453 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $4.8M across 1,417 grants.
What is Equitable Foundation Inc's typical grant size?
Equitable Foundation Inc's median grant in 2024 was $500, and its average grant was $3,812, across 1,453 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Equitable Foundation Inc that year got $2K on average.
Where does Equitable Foundation Inc give grants?
Equitable Foundation Inc's top state is Minnesota, with 33% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were North Carolina (21%) and District of Columbia (13%). The most frequent recipient cities were New York, NY (80 grants), Charlotte, NC (61 grants), Washington, DC (24 grants) and Syracuse, NY (21 grants).
Does Equitable Foundation Inc give general operating support?
Yes: 100% of Equitable Foundation Inc's 2024 grants with a stated purpose (1,451 of 1,453) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Equitable Foundation Inc's largest grantees?
Equitable Foundation Inc's largest 2024 grantees include Scholarship America ($1,815,000 across 2 grants), American Red Cross ($308,162 across 2 grants) and Thurgood Marshall College Fund ($239,393), according to its 2024 IRS Form 990-PF. It also paid 3 grants to individuals ($2,350), which are not listed by name. Together they received 43% of its itemized 2024 grant dollars.
How large is Equitable Foundation Inc?
Equitable Foundation Inc reported $112.4M in total assets on its 2024 IRS Form 990-PF. It paid out $6.6M in qualifying distributions that year, against a required minimum of $5.3M (roughly 5% of its investment assets).
What does Equitable Foundation Inc fund?
The foundation’s website describes the scholarship program as supporting students who strive to contribute positively to their communities. The program offers renewable scholarships and access to workshops, mentors, and guidance. See mission & focus areas ↑
How do I apply for a grant from Equitable Foundation Inc?
The Equitable Excellence Scholarship program is administered by Scholarship America. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Equitable Foundation Inc's EIN?
Equitable Foundation Inc's EIN (Employer Identification Number) is 13-1340512. IRS Form 990 filing data is available on this page for 2020–2024.
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
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Cite this profile
Grantable. (2026). Equitable Foundation Inc funder profile. GrantGraph. Retrieved October 5, 2026, from https://grantable.co/funders/equitable-foundation-inc-morg_b7773f21510e449292960cc7cabfa9bd
BibTeX
@misc{grantable_131340512_2026,
author = {{Grantable}},
title = {{Equitable Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/equitable-foundation-inc-morg_b7773f21510e449292960cc7cabfa9bd},
note = {Accessed 2026-10-05. 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 Equitable 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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