Gray Lady Foundation Inc
Gray Lady Foundation Inc is a private foundation focused on Medical Research, based in Shrewsbury, MA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $889K in total assets. In 2025, it awarded 2 grants totaling $50K. Net investment income was $125K.
Gray Lady Foundation Inc at a glance
In short: Gray Lady Foundation Inc gave $50K across 2 grants in 2025 (avg $25K), mostly in Indiana. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $50,000
- -26.5% vs 2024
- Grants made (2025)
- 2
- +0.0% vs 2024
- Average grant
- $25,000
- -26.5% vs 2024
- Median grant
- $25,000
- Total assets
- $888,992
- +4.4% vs 2024
- Primary geography
- Indiana (80% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
How to apply to Gray Lady Foundation Inc
Open Grants
1 open opportunity from Gray Lady Foundation Inc
Who Gray Lady Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was Medical Mutts Service Dogs ($40K). Together the top 2 received $50K.
Grant Size Distribution
8 grants across all recorded years
The most common grant size was under $50K: 7 grants of 8 (88%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
Cities
How Gray Lady Foundation Inc gives
- Giving grew 400% from 2022 to 2025. Method
- In 2025 it paid out 83% 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 2025, annual grant giving ranged from $10K (2022) to $68K (2024). In 2025 it made 2 grants totaling $50K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Medical Mutts Service Dogs Indianapolis, IN | Research | $40,000 |
| American Miniture Schnauzer Club Endicott, NY | Research | $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 | $888,992 | $126,231 | $73,915 | $50,000 | 2 | $73,063 | $125,440 | $88,406 |
| 2024 | $851,729 | $29,698 | $92,969 | $67,981 | 2 | $74,891 | $28,407 | $79,207 |
| 2023 | $915,000 | $39,677 | $34,462 | $10,000 | 1 | $11,500 | $29,993 | — |
| 2022 | $909,786 | $81,760 | $33,214 | $10,000 | 1 | $17,700 | $31,758 | $70,562 |
| 2021 | $860,545 | $68,616 | $30,472 | $14,106 | 2 | $14,106 | $54,484 | $70,358 |
| 2020 | $820,150 | $28,746 | $22,405 | — | — | — | $29,658 | $56,961 |
| 2019 | $809,501 | $103,980 | $86,627 | $67,317 | 3 | — | $92,865 | $54,399 |
Under IRS private-foundation payout rules, Gray Lady Foundation Inc reported a distributable amount of $88K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Gray Lady Foundation Inc is led by Russell H Herndon, President & Director on every filing since 2019; none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
Russell H Herndon
President & Director
On filings since 2019
1 hr/week
No compensation reported
David L Taylor
Treasurer & Director
On filings since 2019
2 hrs/week
No compensation reported
Patrick J Daly
Clerk & Director
On filings since 2019
1 hr/week
No compensation reported
Jennifer Herndon
Director
On filings since 2023
1 hr/week
No compensation reported
Former officers (1)
- Former: Elizabeth Kenney (2019–2022) — Director
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 Gray Lady Foundation Inc
How much does Gray Lady Foundation Inc give each year?
Gray Lady Foundation Inc gave $50K across 2 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $68K across 2 grants.
How large is Gray Lady Foundation Inc?
Gray Lady Foundation Inc reported $889K in total assets on its 2025 IRS Form 990-PF. It paid out $73K in qualifying distributions that year, against a required minimum of $88K (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.
What is Gray Lady Foundation Inc?
Gray Lady Foundation Inc is a private foundation focused on Medical Research, based in Shrewsbury, MA. It holds $889K in total assets as of 2025.
Where does Gray Lady Foundation Inc operate?
Gray Lady Foundation Inc has awarded grants in Indiana, Massachusetts, Michigan, North Carolina, New York.
What is Gray Lady Foundation Inc's EIN?
Gray Lady Foundation Inc's EIN (Employer Identification Number) is 04-3581030. 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 March 13, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS March 6, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 4, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS April 18, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 8, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS March 28, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS March 26, 2026)
- IRS filings on file for fiscal years 2019–2025
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