Glenstone Foundation is a private operating foundation established in 2006 and based in Potomac, Maryland. The organization operates as a 501(c)(3) tax-exempt entity focused on the visual arts. Rather than a traditional grantmaking foundation, Glenstone functions primarily through the operation of the Glenstone Museum, a contemporary art institution located in Montgomery County, Maryland near Washington, DC.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$3.0B
+2.5% YoY
Annual Giving
$15.3M
+441.4% YoY
Grant Count
7
-46.2% YoY
Avg Grant Size
$2.2M
+905.4% YoY
Mission & Focus Areas
The foundation was created to promote the study, improvement, and advancement of the arts, to foster academic and professional research of art, and to support public and educational exhibitions of art.
Primary activities include:
- Operating the Glenstone Museum, which presents selections from a significant contemporary art collection
- Displaying monumental outdoor sculptures within the museum's landscape
- Providing free admission to all visitors
- Operating a school program that provides transportation for local students
- Maintaining an active loan program that makes artwork available to museums around the world
The foundation's focus areas include Arts & Culture, with particular emphasis on visual arts and contemporary art.
Grantmaking
The foundation does not accept grant applications. However, the foundation does make strategic grants to select organizations. According to available records, Glenstone Foundation has made 47 grants totaling $41.7 million, with individual grants ranging from $18,000 to $11.9 million and an average award of $888,000. Annual giving has grown from $5.3 million in 2020 to $15.3 million in 2024.
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Geographic Focus
Where this funder awards grants
The foundation primarily supports organizations in Potomac, Maryland, Montgomery County, Maryland, and the Washington, DC area. Grantmaking reaches organizations across 12 states, with primary support concentrated in New York, Massachusetts, and the District of Columbia, which account for 51% of all grants. The foundation has supported 22 unique organizations.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue:
- Total assets: $2.987 billion (2024)
- Annual income: $63.3 million (2024)
- Total revenues: $15.876 million (2024)
- Total expenses: $64.781 million (2024)
Historical Growth:
- Total assets have grown from $584.1 million in 2011 to $2.987 billion in 2024
Staff:
- 89 employees (2024)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,987,597,855 | $2,913,564,506 | $2,794,166,064 |
| Revenue | $15,876,524 | $266,804,717 | $132,610,613 |
| Expenses | $64,781,193 | $51,950,857 | $44,935,436 |
| Qualifying Distributions | $144,417,623 | $180,343,316 | $142,367,219 |
| Net Investment Income | $7,515,566 | $187,586,200 | $64,604,563 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
50 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
C. Scott Brannan is listed as the principal officer. The foundation is governed by 6 officers and trustees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MITCHELL P RALES | CHAIRMAN/DIRECTOR | 30 | — |
| EMILY W RALES | PRESIDENT | 50 | — |
| C SCOTT BRANNAN | VICE PRES./TREASURER/DIRECTOR | 20 | — |
| RACHEL L S PLUMLEY | SECRETARY/DIRECTOR | 10 | — |
| ANTHONY CERVENY | CHIEF OPERATING OFFICER - UNTIL 4/2024 | 50 | $111,439 |
| NOORDIN MOLOO | DIRECTOR OF FINANCE | 50 | $247,889 |
Recent News & Activity
Recent developments and announcements
The Glenstone Museum announced an expansion featuring a major installation surveying the breadth of its internationally renowned collection.
Expanded Glenstone Museum to Feature Major Installation Surveying the BreadthThe foundation provided a major gift to the Studio Museum in Harlem to endow the Artist-in-Residence Program, which selected Jeffrey Meris, Devin N. Morris, and Charisse Pearlina Weston as the 2022-23 participants.
Expanded Glenstone Museum to Feature Major Installation Surveying the BreadthSubject Areas
Focus areas based on grantmaking activity
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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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