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
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
No grants recorded for .
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
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Similar funders by location and focus area
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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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