Fred Says
Fred Says is a private foundation, based in Chicago, IL. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $1.1M in total assets. In 2025, it awarded 5 grants totaling $82K. Net investment income was $32K.
Fred Says at a glance
In short: Fred Says gave $82K across 5 grants in 2025 (avg $16K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $81,600
- -63.7% vs 2024
- Grants made (2025)
- 5
- -54.5% vs 2024
- Average grant
- $16,320
- -20.2% vs 2024
- Median grant
- $16,600
- Total assets
- $1,145,035
- -6.5% vs 2024
- Primary geography
- Illinois (57% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Fred Says funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2025
The largest 2025 recipient was Magic City Acceptance Academy ($25K). Together the top 5 received $82K.
Grant Size Distribution
30 grants across all recorded years
The most common grant size was under $50K: 27 grants of 30 (90%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
Cities
How Fred Says gives
- Giving fell 26% from 2022 to 2025. Method
- In 2025 it paid out 150% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2022 to 2025, annual grant giving ranged from $82K (2025) to $251K (2023). In 2025 it made 5 grants totaling $82K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Magic City Acceptance Academy Homewood, AL | To Sponsor Programs with Youth Initiatives | $25,000 |
| Center on Halsted Chicago, IL | To Sponsor Programs with Youth Initiatives | $20,000 |
| Gendercool Highland Park, IL | To Sponsor Programs with Youth Initiatives | $16,600 |
| Advocates for Youth Washington, DC | To Sponsor Programs with Youth Initiatives | $10,000 |
| Test Positive Aware Network Chicago, IL | To Sponsor Programs with Youth Initiatives | $10,000 |
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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 | $1,145,035 | $32,465 | $113,927 | $81,600 | 5 | $90,240 | $31,965 | $60,345 |
| 2024 | $1,224,048 | $549,265 | $258,555 | $225,000 | 11 | $240,771 | $24,765 | $52,976 |
| 2023 | $932,401 | $500,026 | $324,098 | $250,833 | 8 | — | — | — |
| 2022 | $756,473 | $530,321 | $150,313 | $110,000 | 6 | — | — | — |
| 2020 | $21,606 | $8,692 | $11,990 | — | — | — | — | — |
Under IRS private-foundation payout rules, Fred Says reported a distributable amount of $60K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Fred Says is led by Robert Garofalo, President on every filing since 2020; none of the 7 officers listed in 2025 report compensation.
Officers on the 2025 filing
Robert Garofalo
President
On filings since 2020
1 hr/week
No compensation reported
Brad Gerber
Board Member
Director → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Lisa Kuhns
Treasurer
On filings since 2020
1 hr/week
No compensation reported
Babafemi O. Taiwo
Board Member
On filings since 2022
1 hr/week
No compensation reported
John Garofalo
Board Member
On filings since 2022
1 hr/week
No compensation reported
Zach Stafford
Board Member
On filings since 2022
1 hr/week
No compensation reported
Christina Garofalo Bonifacio
Secretary
On filings since 2024
1 hr/week
No compensation reported
Former officers (2)
- Former: Christina Garofalo (2022–2023) — Secretary
- Former: Zachary Stafford (2020) — Secretary
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 Fred Says
How much does Fred Says give each year?
Fred Says gave $82K across 5 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $225K across 11 grants.
What is Fred Says's typical grant size?
Fred Says's median grant in 2025 was $16,600, and its average grant was $16,320, across 5 grants on its 2025 IRS Form 990-PF.
Where does Fred Says give grants?
Fred Says gives mostly in Illinois: 57% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were Alabama (31%) and District of Columbia (12%). The most frequent recipient cities were Chicago, IL (2 grants).
Does Fred Says give general operating support?
Not in 2025: none of the 5 grants with a stated purpose on Fred Says's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "To Sponsor Programs with Youth Initiatives" (5 grants).
Who are Fred Says's largest grantees?
Fred Says's largest 2025 grantees include Magic City Acceptance Academy ($25,000), Center on Halsted ($20,000) and Gendercool ($16,600), according to its 2025 IRS Form 990-PF. Together they received 75% of its itemized 2025 grant dollars.
How large is Fred Says?
Fred Says reported $1.1M in total assets on its 2025 IRS Form 990-PF. It paid out $90K in qualifying distributions that year, against a required minimum of $60K (roughly 5% of its investment assets).
What is Fred Says's EIN?
Fred Says's EIN (Employer Identification Number) is 45-5142943. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS August 14, 2024)
- Updated Form 990-EZ for fiscal year 2020 (received by the IRS May 26, 2021)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS August 7, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 14, 2026)
- IRS filings on file for fiscal years 2020–2024
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