Garden Homes Fund is a private family foundation established in 1981 and based in Stamford, Connecticut. The foundation operates as the charitable arm of Garden Homes Management Corporation, a second-generation family business that owns and manages more than 9,000 rental housing units across 130 properties throughout the Northeast. The foundation functions as both a traditional grant-making organization and a direct affordable housing developer.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$26.7M
+1.1% YoY
Annual Giving
$1.1M
+21.3% YoY
Grant Count
93
+5.7% YoY
Avg Grant Size
$12K
+14.8% YoY
Mission & Focus Areas
The foundation's primary purpose is to provide scholarships for graduates of Stamford public schools. Beyond scholarships, the foundation supports a diverse range of causes including:
- Education and student financial aid
- Conservation
- Social services
- Performing arts
- Human services
- Philanthropy and voluntarism
The foundation operates three major program areas focused on affordable housing development:
- Construction costs for an apartment development at 1114 Hope Street, Stamford, CT to provide 100% affordable housing to low and very low income residents
- Construction costs for an apartment development at 122 Wilton Road, Westport, CT to provide 100% affordable housing to low and very low income residents
- Operation of two 100% affordable housing projects providing 100% affordable housing to low and very low income residents
Grantmaking
Average Grant
award: $9,000
How to Apply
details are not publicly available
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Connecticut, with particular emphasis on the Stamford area. Grantmaking also reaches organizations in New York and Florida, which together with Connecticut account for 64% of all grants. The foundation's grantmaking reaches organizations across 18 states total.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2023):
- Total assets: $26,360,166
- Total revenues: $5,166,692
- Total expenses: $3,015,765
- Annual giving: $903,150
Asset Growth:
- Total assets have grown from $6.5 million in 2011 to $26.36 million in 2023
- Assets reported at $26.7 million in 2024
Historical Giving:
- Annual charitable disbursements have ranged from $782,856 to $1.17 million over the past decade
- Annual giving decreased from $1.9 million in 2022 to $903,000 in 2023
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $26,658,738 | $26,360,166 | $23,215,994 |
| Revenue | $5,002,885 | $5,166,692 | $5,582,132 |
| Expenses | $3,711,425 | $3,015,765 | $2,934,485 |
| Qualifying Distributions | $5,320,551 | $4,999,691 | $5,150,237 |
| Net Investment Income | $3,264,957 | $3,148,726 | $2,670,873 |
| Distributable Amount | $9,730,963 | $2,272,184 | $2,293,367 |
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
250 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
Richard Freedman leads the foundation as a member of the Freedman family, which directs the organization. Freedman has been recognized for his work in affordable housing development and zoning reform advocacy, including receiving a Community Legacy Award for his contributions to the community.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JANE FREEDMAN | TRUSTEE | 1 | — |
| RICHARD FREEDMAN | TRUSTEE | 10 | — |
| DEBORAH FREEDMAN | TRUSTEE | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
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Alderman Family Foundation
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Total Given
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Calf Island Foundation
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Assets
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Total Given
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Russel R Taylor Foundation
GREENWICH, CT
Assets
$2.6M
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Total Given
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Nancy a Larson Foundation Inc
OLD LYME, CT
Assets
$9K
Grants
8
Total Given
$12K
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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