Flagstar Foundation Inc
Flagstar Foundation Inc is a private foundation based in Troy, Michigan. It provides grants to nonprofit organizations with measurable outcomes, supporting workforce readiness, arts and culture, and financial capability through VITA tax-preparation assistance.
Flagstar Foundation Inc at a glance
In short: Flagstar Foundation Inc gave $3.0M across 109 grants in 2025 (avg $27K), top state New York. 30% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $2,955,000
- -14.2% vs 2024
- Grants made (2025)
- 109
- -45.2% vs 2024
- Average grant
- $27,110
- +56.6% vs 2024
- Median grant
- $25,000
- Total assets
- $15,993,565
- -15.8% vs 2024
- New grantees (estimate)
- 30% first-time grantees (33 of 109, 2025)
- Primary geography
- New York (39% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Flagstar Foundation Inc
- Accepts unsolicited proposals
- No
- Invitation Only
-
The Foundation does not accept unsolicited requests. Grant opportunities are by invitation only.
- Contact
Mailing address: 5151 Corporate Drive, Troy, MI 48098
Phone: (248) 312-5111
Website: https://www.flagstar.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Flagstar Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Community Foundation for Se MI ($100K). Together the top 10 received $575K.
Grant Size Distribution
635 grants across all recorded years
The most common grant size was under $50K: 596 grants of 635 (94%).
Geographic Focus
Where this funder awards grants
Organizations must operate in Arizona, California, Florida, Indiana, Michigan, New Jersey, New York, Ohio, or Wisconsin. In 2025, the largest shares of grant dollars went to recipients in New York (39%) and Michigan (26%), followed by New Jersey (8%), California (7%), and Ohio (5%).
Grant Distribution by State
Share of 2025 grant dollars across all 109 itemized grants.
States
Cities
Is Flagstar Foundation Inc open to new grantees?
30%
first-time grantees, 2025
In 2025, 33 of 109 grantees (30%) were first-time recipients. First grants averaged $25K; repeat grants $28K. How we count
Medians: $25K first-time, $25K repeat.
- 62% of 2025 grantees were also funded in 2024. Method
- Giving grew 33% from 2022 to 2025. Method
- In 2025 it paid out 439% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). 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 2025, annual grant giving ranged from $2.2M (2020) to $3.4M (2024). In 2025 it made 109 grants totaling $3.0M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Community Foundation for Se MI Detroit, MI | Pontinc Funder Collaborative | $100,000 |
| Enterprise Community Partners Inc Columbia, MD | Volunteer Income Tax Assistance | $75,000 |
| Npower Inc Brooklyn, NY | Workforce Readiness | $50,000 |
| Pal-O-Mine Equestrain Inc Islanda, NY | Workforce Readiness | $50,000 |
| Chinese American Planning Council Inc New York, NY | Workforce Readiness | $50,000 |
| Family Service League Inc Huntington, NY | Workforce Readiness | $50,000 |
| Accounting Aid Society Detroit, MI | Volunteer Income Tax Assistance | $50,000 |
| Doe Fund Inc New York, NY | Workforce Readiness | $50,000 |
| Hispanic Unity of Florida Inc Hollywood, FL | Volunteer Income Tax Assistance | $50,000 |
| Ariva Inc Bronx, NY | Volunteer Income Tax Assistance | $50,000 |
Ready to take the next step with Flagstar Foundation Inc?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $15,993,565 | $1,037,062 | $3,246,158 | $2,955,000 | 109 | $3,778,658 | $758,319 | $861,541 |
| 2024 | $18,995,161 | $1,359,973 | $3,848,823 | $3,445,000 | 199 | $3,377,000 | $959,463 | $922,175 |
| 2023 | $21,416,011 | $1,164,997 | $2,751,751 | $2,316,000 | 103 | $2,316,000 | $704,299 | $1,075,591 |
| 2022 | $23,520,747 | $24,467,599 | $2,537,574 | $2,222,681 | 97 | $2,222,681 | $18,360 | $225,125 |
| 2021 | $1,264,240 | $406,759 | $3,630,107 | $3,394,924 | 127 | $3,394,924 | $3,451 | $107,994 |
| 2020 | $3,456,588 | $3,978,307 | $2,249,379 | $2,210,910 | 112 | — | $3,840 | $87,228 |
Under IRS private-foundation payout rules, Flagstar Foundation Inc reported a distributable amount of $862K for 2025 — 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 says it seeks to empower individuals and communities to achieve lasting prosperity and meaningful progress. Its funding priorities are:
- Workforce readiness: Organizations preparing people who face barriers to employment to earn a living wage, including through apprenticeships, skilled-trades training, STEM initiatives, and literacy.
- Arts and culture: Organizations expanding access to arts and culture in underserved communities, including through arts education, art therapy, performances, and exhibitions.
- Financial capability: Organizations serving people with low to moderate incomes through Volunteer Income Tax Assistance (VITA) programs.
Its 2025 grantees illustrate these areas. NPower describes its work as preparing young adults and military-connected individuals facing barriers to opportunity for technology careers; its 2025 grant was listed for workforce readiness. Accounting Aid Society says it provides free tax preparation, small-business financial services, financial coaching, and call-center workforce training; its grant was listed for VITA assistance. Enterprise Community Partners describes its mission as expanding access to affordable homes, and received a grant for VITA assistance.
Grantmaking
In filing year 2025, the Foundation reported 109 grants totaling $2,955,000. Grants ranged from $10,000 to $100,000, with a median of $25,000. Examples include $100,000 to Community Foundation for Southeast Michigan for the PONTINC Funder Collaborative; $75,000 to Enterprise Community Partners for VITA; and $50,000 each to NPower and PAL-O-MINE Equestrian for workforce readiness. Other $50,000 grants included awards to Chinese American Planning Council, Family Service League, and DOE Fund for workforce readiness, and Accounting Aid Society, Hispanic Unity of Florida, Ariva, and El Nido Family Centers for VITA assistance.
Grant opportunities are by invitation only. Foundation staff and community leadership collaboratively recommend nonprofits in its key market areas. The Foundation says that in most years, most grants go to organizations it has funded before, and that 20% to 30% support organizations it has not previously funded.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Elizabeth Correa as managing director; Annmarie Mayhan as secretary; Laurie McPeck as treasurer; and Katherine Morgan as president. Trustees listed were Joe Abruzzo, Diane Menzo, Christopher Beck, Reggie Davis, Simone Betz, and Ashwin Mago.
Flagstar Foundation Inc is led by Katherine Morgan, President on the 2025 filing; none of the 13 officers listed in 2025 report compensation.
Officers on the 2025 filing
Katherine Morgan
President
New on the 2025 filing
40 hrs/week
No compensation reported
Elizabeth Correa
Managing Director
On filings since 2020
3 hrs/week
No compensation reported
Reggie Davis
Trustee
On filings since 2021
1 hr/week
No compensation reported
Christopher Beck
Trustee
On filings since 2023
1 hr/week
No compensation reported
Diane Menzo
Trustee
On filings since 2024
1 hr/week
No compensation reported
Ashwin Mago
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
George Buchanan
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Joe Abruzzo
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Rita Dailey
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Simone Betz
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Steven Bodakowski
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
LAURIE McPECK
Treasurer
On filings since 2020
2 hrs/week
No compensation reported
Annmarie Mayhan
Secretary
New on the 2025 filing
2 hrs/week
No compensation reported
Former officers (14)
- Former: Gary Wolf (2020–2024) — Trustee
- Former: Sonia Plata (2020–2024) — President
- Former: Jennifer Charters (2021–2024) — Trustee
- Former: Laura Coleman (2023–2024) — Secretary
- Former: Donna Krall (2020–2023) — Trustee
- Former: David Hollis (2021–2023) — Trustee
- Former: Andrew Kaplan (2023) — Trustee
- Former: John Pinto (2023) — Trustee
- Former: Julie-Ann Signorille-Browne (2023) — Trustee
- Former: Patrick Quinn (2023) — Trustee
- Former: Mike Doyle (2020–2022) — Trustee
- Former: Paula Borja (2020–2022) — Secretary
- Former: Matthew Allen (2020–2021) — Trustee
- Former: Zah Gonzalvo (2021) — Trustee
Data from IRS Form 990 filings, 2020–2025. "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 Flagstar Foundation Inc
How much does Flagstar Foundation Inc give each year?
Flagstar Foundation Inc gave $3.0M across 109 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $3.4M across 199 grants.
What is Flagstar Foundation Inc's typical grant size?
Flagstar Foundation Inc's median grant in 2025 was $25,000, and its average grant was $27,110, across 109 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Flagstar Foundation Inc that year got $25K on average.
Where does Flagstar Foundation Inc give grants?
Flagstar Foundation Inc's top state is New York, with 39% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were Michigan (26%) and New Jersey (8%). The most frequent recipient cities were New York, NY (13 grants), Detroit, MI (13 grants), Jackson, MI (4 grants) and Bronx, NY (3 grants).
Does Flagstar Foundation Inc give general operating support?
Not in 2025: none of the 109 grants with a stated purpose on Flagstar Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Workforce Readiness" (55 grants), "Arts Culture" (36 grants) and "Volunteer Income Tax Assistance" (15 grants).
Who are Flagstar Foundation Inc's largest grantees?
Flagstar Foundation Inc's largest 2025 grantees include Community Foundation for Se MI ($100,000), Enterprise Community Partners Inc ($75,000) and Npower Inc ($50,000), according to its 2025 IRS Form 990-PF. Together they received 8% of its itemized 2025 grant dollars.
How large is Flagstar Foundation Inc?
Flagstar Foundation Inc reported $16.0M in total assets on its 2025 IRS Form 990-PF. It paid out $3.8M in qualifying distributions that year, against a required minimum of $862K (roughly 5% of its investment assets).
What does Flagstar Foundation Inc fund?
The Foundation says it seeks to empower individuals and communities to achieve lasting prosperity and meaningful progress. Its funding priorities are: See mission & focus areas ↑
How do I apply for a grant from Flagstar Foundation Inc?
The Foundation does not accept unsolicited requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Flagstar Foundation Inc's EIN?
Flagstar Foundation Inc's EIN (Employer Identification Number) is 82-1812075. IRS Form 990 filing data is available on this page for 2020–2025.
Does Flagstar 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
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 13, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Flagstar Foundation Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Flagstar Foundation Inc funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/flagstar-foundation-inc-morg_e9e5706038f44375a94e14ccec551f54
BibTeX
@misc{grantable_821812075_2026,
author = {{Grantable}},
title = {{Flagstar Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/flagstar-foundation-inc-morg_e9e5706038f44375a94e14ccec551f54},
note = {Accessed 2026-10-12. 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 Flagstar 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.
Flagstar Foundation Inc down — hundreds of funders to go?