The Frank E Payne and Seba B Payne Foundation is a private foundation based in Chicago, Illinois. Established in 1962, it operates as a grantmaking organization with a broad geographic reach extending beyond its home state.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$164.4M
+34.1% YoY
Annual Giving
$6.7M
+8.5% YoY
Grant Count
47
+0.0% YoY
Avg Grant Size
$142K
+8.5% YoY
Under IRS private-foundation payout rules, Frank E Payne and Seba B Payne reported a distributable amount of $9.3M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's charitable activity centers on making contributions and grants to qualified charitable organizations. Primary funding areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
- Arts and Culture
- Religious causes
- Housing and shelter
Recent giving patterns indicate growing interest in homelessness as a funding priority.
Grantmaking
The foundation primarily funds general operating support and annual gifts, as well as project support. Tax records indicate a pattern of supporting the same organizations year after year. The foundation does not maintain a public website or published grantmaking guidelines, making it difficult for prospective applicants to understand specific priorities.
Grant Range
s & Activity:**
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Geographic Focus
Where this funder awards grants
The foundation has Chicago roots but maintains broad geographic interests. Recent largest grants have gone to organizations outside of Illinois. Primary funding regions include Pennsylvania, Massachusetts, and Illinois, with particular activity in Chicago for arts and culture institutions, education, and human services.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2023):
- Total assets: $122,591,768
- Total revenues: $17,217,145
- Total expenses: $9,046,059
Assets & Giving (2024):
- Total assets: $164,363,063
- Total giving: $6,614,500
Staffing:
- Number of employees: 0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $164,363,063 | $122,591,768 | $112,754,909 |
| Revenue | $50,853,926 | $17,217,145 | $5,178,669 |
| Expenses | $8,370,340 | $9,046,059 | $9,358,832 |
| Qualifying Distributions | $9,868,402 | $6,306,106 | $8,960,674 |
| Net Investment Income | $49,559,484 | $16,283,677 | $4,841,910 |
| Distributable Amount | $9,282,260 | $10,397,229 | $4,011,916 |
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
126 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Field Museum of Natural History ($500,000), Land Trust Alliance Incorporated ($500,000), Snowchange Cooperative (lumimuutos Osuuskunta) ($500,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN CANCER SOCIETY ATLANTA, GA | RESEARCH | $400,000 |
| AMERICAN CIVIL LIBERTIES UNION FOUNDATION NEW YORK, NY | GENERAL OPERATING SUPPORT | $350,000 |
| AMERICAN LITTORAL SOCIETY HIGHLANDS, NJ | PROJECT SUPPORT | $50,000 |
| AMERICAN RED CROSS - PA RIVERS CHAPTER WASHINGTON, DC | GENERAL OPERATING SUPPORT | $100,000 |
| ASSOCIATED COLLEGES OF ILLINOIS CHICAGO, IL | GENERAL OPERATING SUPPORT | $120,000 |
| BLACK FARMER FUND NEW YORK, NY | GENERAL OPERATING SUPPORT | $87,500 |
| CASA GUADALUPE CENTER ALLENTOWN, PA | GENERAL OPERATING SUPPORT | $65,000 |
| CHICAGO COALITION FOR THE HOMELESS CHICAGO, IL | GENERAL OPERATING SUPPORT | $60,000 |
| CHILDRENS PLACE ASSOCIATION CHICAGO, IL | GENERAL OPERATING SUPPORT | $15,000 |
| COLORADO NONPROFIT DEVELOPMENT CENTER DENVER, CO | PROJECT SUPPORT | $60,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Lauren MacDonald at William Harris Investors has been identified as a contact. The foundation is currently controlled by William Harris Investors, having previously been managed by Bank of America. The foundation is not steered by the Payne family.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LAUREN MACDONALD | PRESIDENT/EXECUTIVE DIRECTOR/SECRETARY | 10 | — |
| MICHAEL MCQUINN | TREASURER | 1 | — |
| L SCOTT | VICE PRESIDENT/DIRECTOR | 1 | $19,350 |
| A GREENE | VICE PRESIDENT/DIRECTOR | 1 | $13,500 |
| T SCOTT | VICE PRESIDENT/DIRECTOR | 1 | $17,600 |
| M CUMINGS | VICE PRESIDENT/DIRECTOR | 1 | $10,200 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Frank E Payne and Seba B Payne fund?
The foundation's charitable activity centers on making contributions and grants to qualified charitable organizations. Primary funding areas include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services • Arts and Culture • Religious causes • Housing and shelter Recent giving patterns indicate growing interest in homelessness as a funding priority.
How do I apply for a grant from Frank E Payne and Seba B Payne?
**Grant Sizes & Activity:** • Typical award range: $15,000–$3,000,000 • Total giving (2024): $6,614,500 • Recent grant activity (2023): 32 grants made, totaling approximately $5,477,000 in documented grants **Recent Grantees (2023):** • Field Museum of Natural History: $600,000 • Land Trust Alliance Incorporated: $500,000 • Natural Resources Defense Council: $400,000 • Massachusetts Housing Investment Corp **Grantmaking Approach:** The foundation primarily funds general operating support and an…
Where does Frank E Payne and Seba B Payne make grants?
The foundation has Chicago roots but maintains broad geographic interests. Recent largest grants have gone to organizations outside of Illinois. Primary funding regions include Pennsylvania, Massachusetts, and Illinois, with particular activity in Chicago for arts and culture institutions, education, and human services.
What size grants does Frank E Payne and Seba B Payne award?
In 2024, Frank E Payne and Seba B Payne awarded 47 grants totaling $6.7M — an average of about $142K per grant, based on its IRS Form 990 filings.
How much is Frank E Payne and Seba B Payne required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Frank E Payne and Seba B Payne reported a distributable amount of $9.3M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Frank E Payne and Seba B Payne's EIN?
Frank E Payne and Seba B Payne's EIN (Employer Identification Number) is 87-1526433. IRS Form 990 filing data is available on this page for 2021–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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