Frank & Ruth E Caruso Foundation
Frank & Ruth E Caruso Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEW YORK, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $4.1M in total assets. In 2024, it awarded 12 grants totaling $116K. Net investment income was $242K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$4.1M
+0.7% YoY
Annual Giving
$116K
-14.8% YoY
Grant Count
12
+9.1% YoY
Avg Grant Size
$10K
-21.9% YoY
Under IRS private-foundation payout rules, Frank & Ruth E Caruso Foundation reported a distributable amount of $207K for 2024 — the minimum it must pay out in qualifying distributions.
About Frank & Ruth E Caruso Foundation
Based on IRS filings
Frank & Ruth E Caruso Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEW YORK, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $4.1M in total assets. In 2024, it awarded 12 grants totaling $116K. Net investment income was $242K.
Focus Areas
Ready to take the next step with Frank & Ruth E Caruso Foundation?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $4,137,046 | $4,109,870 | $4,060,178 |
| Revenue | $273,954 | $312,040 | $124,004 |
| Expenses | $246,778 | $262,348 | $283,812 |
| Qualifying Distributions | $210,102 | $231,543 | $245,526 |
| Net Investment Income | $242,460 | $281,235 | $91,573 |
| Distributable Amount | $207,334 | $208,287 | $233,603 |
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
66 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Brooklyn Conservatory of Music ($18,000), New York Center for Children ($18,000), The Art Therapy Project ($18,000).
| Recipient | Purpose | Amount |
|---|---|---|
| A FAIR SHAKE FOR YOUTH NEW YORK, NY | GENERAL OPERATING SUPPORT | $2,000 |
| ARTISTIC NOISE NEW YORK, NY | LICENSED ART THERAPY SERVICES | $16,000 |
| BROOKLYN CONSERVATORY OF MUSIC BROOKLYN, NY | MUSIC THERAPY PROGRAM | $18,000 |
| BROOKLYN CONSERVATORY OF MUSIC BROOKLYN, NY | ART/MUSIC THERAPY 101 WEBINAR | $500 |
| CENTER FOR ANTI-VIOLENCE EDUCATION BROOKLYN, NY | GENERAL OPERATING SUPPORT | $7,000 |
| CHILDREN OF PROMISE BROOKLYN, NY | LICENSED MENTAL HEALTH AND ART THERAPY SERVICES | $12,750 |
| DAY ONE NEW YORK, NY | LICENSED MENTAL HEALTH AND ART THERAPY SERVICES | $12,750 |
| NEW YORK CENTER FOR CHILDREN NEW YORK, NY | GENERAL OPERATING SUPPORT | $18,000 |
| POSSIBILITY PROJECT NEW YORK, NY | GENERAL OPERATING SUPPORT | $5,000 |
| THE ART THERAPY PROJECT NEW YORK, NY | GENERAL OPERATING SUPPORT | $18,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LISA TURNGREN | PRESIDENT | 30 | $86,381 |
| EDWARD TURNGREN | VICE PRESIDENT | 1 | $1,750 |
| CYNTHIA TURNGREN | SECRETARY (FROM 03/2024) | 1 | $1,750 |
| CARMELA TURNGREN | SECRETARY (THRU 03/2024) | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Frank & Ruth E Caruso Foundation?
Frank & Ruth E Caruso Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEW YORK, NY. It holds $4.1M in total assets as of 2024.
How large is Frank & Ruth E Caruso Foundation?
As of 2024, Frank & Ruth E Caruso Foundation holds $4.1M in total assets with $274K in annual revenue. It awarded 12 grants totaling $116K in 2024.
Where does Frank & Ruth E Caruso Foundation operate?
Frank & Ruth E Caruso Foundation has awarded grants in New Jersey, New York.
What size grants does Frank & Ruth E Caruso Foundation award?
In 2024, Frank & Ruth E Caruso Foundation awarded 12 grants totaling $116K — an average of about $10K per grant, based on its IRS Form 990 filings.
How much is Frank & Ruth E Caruso Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Frank & Ruth E Caruso Foundation reported a distributable amount of $207K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Frank & Ruth E Caruso Foundation's EIN?
Frank & Ruth E Caruso Foundation's EIN (Employer Identification Number) is 82-0581784. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Frank & Ruth E Caruso Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.