Leo & Rhea Fay Fruhman Foundation

RICHARDSON, TX EIN: 75-2302749

The Leo & Rhea Fay Fruhman Foundation is a private foundation established in 1991 and based in Richardson, Texas (with a mailing address in Plano, TX). The foundation operates as a 501(c)(3) tax-exempt organization and functions as a grantmaking entity supporting various charitable causes.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$10.5M

+1.3% YoY

Annual Giving

$490K

-13.9% YoY

Grant Count

+100.0% YoY

Avg Grant Size

$245K

-56.9% YoY

Under IRS private-foundation payout rules, Leo & Rhea Fay Fruhman Foundation reported a distributable amount of $710K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation primarily funds community assistance, education, health, religion, and legal educational public radio. Recent grantmaking demonstrates a particular commitment to Jewish community organizations, with documented grants to the Jewish Federation of Greater Dallas.

Grantmaking

The foundation made 57 grants in its most recent reporting year. Historical grantmaking totals approximately $569,000 across documented periods. The foundation maintains an active grantmaking program, with recent fiscal year (2024) expenses of $796,258 against total assets of $10.5 million.

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Geographic Focus

Where this funder awards grants

The foundation operates primarily in Texas, with documented funding activity in the Dallas area and broader North Texas region.

Grant Distribution by State

Massachusetts $1.2M (50%)

Texas $899K (37%)

Arizona $101K (4%)

New York $59K (2%)

Maine $55K (2%)

Tennessee $30K (1%)

Louisiana $19K (1%)

Colorado $19K (1%)

+7 more states

States

Alabama Arizona California Colorado District of Columbia Illinois Louisiana Massachusetts Maine North Carolina New Jersey New York Tennessee Texas Virginia

Cities

AlexandriaBostonBoulderCalabasasCarrolltonCharlotteChicagoDallasDentonFlagstaffMarilboroMemphisMerrifieldMetairieMontgomeryNew YorkNewtonPlanoPortlandPrescott

Financial History

Multi-year comparison from IRS filings

Assets & Revenue (FY 2024):

Total Assets: $10,519,280
Total Revenues: $933,844
Total Expenses: $796,258
Total Liabilities: $23,500

Revenue Composition (FY 2024):

Investment Income & Dividends: $299,377
Net Gain from Sale of Non-Inventory Assets: $634,467

Assets & Revenue (FY 2023):

Total Assets: $10.4 million
Total Revenues: $466,641
Total Expenses: $879,000

The foundation's revenue increased significantly year-over-year (100.1% growth from 2023 to 2024), primarily driven by gains from asset sales.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$10,519,280	$10,382,557	$10,705,286
Revenue	$933,844	$466,641	$294,199
Expenses	$796,258	$879,318	$870,445
Qualifying Distributions	$669,320	$737,948	$716,876
Net Investment Income	$806,906	$326,823	$152,629
Distributable Amount	$709,889	$657,484	$675,817

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2024

Grant Size Distribution

153 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Fidelity Charity Daf ($400,000), Fidelity Charity Daf ($90,000).

Recipient	Purpose	Amount
FIDELITY CHARITY DAF BOSTON, MA	COMMUNITY ASSISTANCE - BEVERLY T. GOLDMAN CHARITABLE FUND	$400,000
FIDELITY CHARITY DAF BOSTON, MA	COMMUNITY ASSISTANCE - GATHERFUL GIVING FUND	$90,000

Leadership & Key People

Leadership team and compensation from IRS filings

Joe Goldman serves as President, Executive Director, and Treasurer of the foundation, with annual compensation of $120,000 (as of 2023). The foundation maintains a staff of 3 employees.

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
JOE GOLDMAN	PRESIDENT	30	$97,060
JACQULINE TALBOT	SECRETARY	10	$25,730
RONALD GOLDMAN CO ARIZONA ELDER CAR	VICE PRESIDENT	10	$62,178
MICHAEL GOLDMAN	TREASURER	10	$105,827

Frequently Asked Questions

What does Leo & Rhea Fay Fruhman Foundation fund?

How do I apply for a grant from Leo & Rhea Fay Fruhman Foundation?

Where does Leo & Rhea Fay Fruhman Foundation make grants?

The foundation operates primarily in Texas, with documented funding activity in the Dallas area and broader North Texas region.

What size grants does Leo & Rhea Fay Fruhman Foundation award?

In 2024, Leo & Rhea Fay Fruhman Foundation awarded 2 grants totaling $490K — an average of about $245K per grant, based on its IRS Form 990 filings.

How much is Leo & Rhea Fay Fruhman Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Leo & Rhea Fay Fruhman Foundation reported a distributable amount of $710K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Leo & Rhea Fay Fruhman Foundation's EIN?

Leo & Rhea Fay Fruhman Foundation's EIN (Employer Identification Number) is 75-2302749. IRS Form 990 filing data is available on this page for 2020–2024.