Gem Foundation
Gem Foundation is a private foundation, based in Kalispell, MT. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $3.1M in total assets. In 2025, it made $5K in qualifying distributions. Net investment income was $54K.
Gem Foundation at a glance
- Total assets
- $3,053,105
- +14.8% vs 2024
- Revenue (2025)
- $113,095
- +34.3% vs 2024
- Qualifying distributions (2025)
- $4,690
- -97.0% vs 2024
- Expenses (2025)
- $64,592
- -63.6% vs 2024
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Gem Foundation funds
How this funder distributes its grants
Grant Size Distribution
15 grants across all recorded years
The most common grant size was under $50K: 10 grants of 15 (67%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
How Gem Foundation gives
- Giving grew 95% from 2021 to 2024. Method
- In 2025 it paid out 3% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2024, annual grant giving ranged from $10K (2019) to $176K (2023). In 2024 it made 2 grants totaling $150K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Samaritan Capital Foundation Spokane, WA | To Support Organization's Mission | $100,000 |
| Partnership for the Advancement of New Americans (Pana) San Diego, CA | To Support Organization's Mission | $50,000 |
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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 | $3,053,105 | $113,095 | $64,592 | — | — | $4,690 | $54,090 | $137,709 |
| 2024 | $2,660,339 | $84,232 | $177,216 | $150,000 | 2 | $155,332 | $62,347 | $128,327 |
| 2023 | $2,422,960 | $4,491 | $195,438 | $176,000 | 5 | $178,044 | $38,355 | $118,842 |
| 2022 | $2,481,275 | $1,062,470 | $192,010 | $175,000 | 4 | $176,774 | $56,935 | $122,303 |
| 2021 | $1,752,247 | $1,183,543 | $92,344 | $76,750 | 4 | — | $297,619 | $76,915 |
| 2020 | $959,724 | $13,643 | $87,556 | $59,275 | 8 | — | $9,112 | — |
| 2019 | $951,218 | $20,488 | $142,130 | $9,925 | 4 | — | $13,187 | — |
Under IRS private-foundation payout rules, Gem Foundation reported a distributable amount of $138K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Gem Foundation is led by Karen A. Mercaldo, CEO since 2022 (on filings since 2019); none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Karen A. Mercaldo
CEO
CEO → CEO & CFO, 2021
CEO & CFO → CEO, 2022
On filings since 2019
10 hrs/week
No compensation reported
Janine Schooley
Director
Director → Secretary, 2021
Secretary → Director, 2022
On filings since 2020
10 hrs/week
No compensation reported
Gianna M. Digiovanni
CFO
CFO → Director, 2021
Director → CFO, 2022
On filings since 2020
5 hrs/week
No compensation reported
Former officers (2)
- Former: Dominic Mercaldo (2019–2023) — Director
- Former: Gianna Mercaldo (2019) — CFO
Data from IRS Form 990 filings, 2019–2025. "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 Gem Foundation
How large is Gem Foundation?
Gem Foundation reported $3.1M in total assets on its 2025 IRS Form 990-PF. It paid out $5K in qualifying distributions that year, against a required minimum of $138K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does Gem Foundation operate?
Gem Foundation has awarded grants in Arizona, California, Montana, New York, Ohio, Washington.
What is Gem Foundation's EIN?
Gem Foundation's EIN (Employer Identification Number) is 20-2016199. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS April 2, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS March 25, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS April 18, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS March 27, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS April 4, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS March 25, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 14, 2026)
- IRS filings on file for fiscal years 2019–2025
Explore Open Grants
Browse active grant opportunities in Gem Foundation's focus areas in our free grants database
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