Franke Family Charitable Foundation
The Franke Family Charitable Foundation is a private family foundation based in Chicago, Illinois. Established in 1989, it operates as a 501(c)(3) organization with tax-exempt status since February 1990. The foundation is designated as a private independent foundation focused on philanthropic grantmaking.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$58.0M
+8.0% YoY
Annual Giving
$4.4M
+3.4% YoY
Grant Count
20
-9.1% YoY
Avg Grant Size
$218K
+13.8% YoY
Under IRS private-foundation payout rules, Franke Family Charitable Foundation reported a distributable amount of $2.7M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's giving priorities center on:
- Higher education
- The arts
Grantmaking
The foundation made 37 grants in its most recent fiscal year (ending June 2024). Recent notable grants include:
Grant Range
s
How to Apply
The foundation does not appear to have a formal public application process or accept unsolicited requests based on available information.
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Geographic Focus
Where this funder awards grants
The foundation primarily supports organizations in:
- Connecticut
- Illinois
- New York
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending June 2024:
- Total Assets: $58,004,998
- Total Giving: $4,018,000
- Total Revenues: $11,572,303
- Total Expenses: $4,248,595
- Total Liabilities: $333,000
As of Fiscal Year Ending June 2023:
- Total Assets: $53,700,000
- Total Expenses: $4,200,000
- Total Revenues: $14,600,000
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $58,004,998 | $53,723,676 | $52,963,266 |
| Revenue | $11,572,303 | $14,567,426 | $1,412,955 |
| Expenses | $4,248,595 | $4,203,091 | $2,665,288 |
| Qualifying Distributions | $4,065,030 | $4,243,241 | $2,735,511 |
| Net Investment Income | $1,214,246 | $9,689,303 | $2,471,225 |
| Distributable Amount | $2,725,226 | $2,519,180 | $2,856,315 |
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
139 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Community Funds Inc ($1,000,000), Fidelity Chartable ($1,000,000), Yale University ($1,000,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ARIZONA MUSICFEST SCOTTSDALE, AZ | GENERAL OPERATIONS | $25,000 |
| ART INSTITUTE OF CHICAGO CHICAGO, IL | SUSTAINING FELLOWS | $50,000 |
| ART INSTITUTE OF CHICAGO CHICAGO, IL | TEXTILE DEPARTMENT | $20,000 |
| CHICAGO HUMANITIES FESTIVAL CHICAGO, IL | GENERAL OPERATIONS | $100,000 |
| COMMUNITY FUNDS INC NEW YORK, NY | KATHERINE FRANKE DAF | $1,000,000 |
| ELM CITY CONSORT INC NEW HAVEN, CT | GENERAL OPERATIONS | $5,000 |
| FIDELITY CHARTABLE COVINGTON, KY | SHEPHERD FUND (JANE FRANKE DAF) | $1,000,000 |
| INTEGRATED REFUGEE & IMMIGRANT SERVICES NEW HAVEN, CT | GENERAL OPERATIONS | $25,000 |
| INTERNATIONAL FESTIVAL OF ARTS & IDEAS NEW HAVEN, CT | GENERAL OPERATIONS | $2,000 |
| LEAP NEW HAVEN, CT | GENERAL OPERATIONS | $5,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation's trustees include:
- Richard J. Franke
- Barbara E. Franke
- Jane S. Franke
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BARBARA E FRANKE | TRUSTEE | 5 | — |
| JANE S FRANKE | TRUSTEE | 5 | — |
| KATHERINE M FRANKE | TRUSTEE | 5 | — |
Contact Information
Address: 676 N Michigan Ave Ste 2920, Chicago, IL 60611-2861
Telephone: 312-573-2743
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Franke Family Charitable Foundation fund?
The foundation's giving priorities center on: • **Higher education** • **The arts**
How do I apply for a grant from Franke Family Charitable Foundation?
The foundation made 37 grants in its most recent fiscal year (ending June 2024). Recent notable grants include: • Yale University: $1,000,000 (Franke Dramatic Arts Building) • Community Funds: $1,000,000 (Katherine Franke DAF) • The University of Chicago: $400,000 (Court Theatre Fund) Typical awards range from $250,000 to $1,000,000. The foundation does not appear to have a formal public application process or accept unsolicited requests based on available information.
Where does Franke Family Charitable Foundation make grants?
The foundation primarily supports organizations in: • Connecticut • Illinois • New York
What size grants does Franke Family Charitable Foundation award?
In 2024, Franke Family Charitable Foundation awarded 20 grants totaling $4.4M — an average of about $218K per grant, based on its IRS Form 990 filings.
How much is Franke Family Charitable Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Franke Family Charitable Foundation reported a distributable amount of $2.7M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Franke Family Charitable Foundation's EIN?
Franke Family Charitable Foundation's EIN (Employer Identification Number) is 36-3662848. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Franke Family Charitable Foundation's focus areas in our free grants database
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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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