Louis N Cassett Foundation
The Louis N Cassett Foundation is a private foundation established in 1946 by Louis N. Cassett, a Philadelphia area industrialist. Organized and operated exclusively for tax-exempt purposes under Section 501(c)(3) of the Internal Revenue Code, the Foundation operates as an independent grantmaking organization that does not solicit funds from the public.
Key facts about Louis N Cassett Foundation
- EIN
- 23-6274038
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $546,417
- Grants made (2024)
- 92
- Average grant
- $5,939
- Median grant
- $4,000
- New grantees (estimate)
- 16% first-time grantees (15 of 92, 2024)
- Total assets
- $9,841,942
- Primary geography
- Pennsylvania (33% of itemized 2024 grant dollars)
- How to apply
- The Foundation's Trustees meet periodically throughout the year to review grant requests. Full details ↓
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Louis N Cassett Foundation funds
By grant dollars, the top recipient states for Louis N Cassett Foundation's 92 itemized 2024 grants were Pennsylvania (33%), Florida (27%) and Georgia (19%). The most frequent recipient cities were Philadelphia, PA (25 grants), Atlanta, GA (9 grants), Miami, FL (4 grants) and Washington, DC (4 grants). None of its 92 grants with a stated purpose were described as general or operating support. Recurring purposes include "To Further Exempt Purpose" (92 grants).
Is Louis N Cassett Foundation open to new grantees?
16%
first-time grantees, 2024
In 2024, 15 of 92 grantees (16%) were first-time recipients. First grants averaged $4K; repeat grants $6K. How we count
Medians: $2K first-time, $4K repeat.
- 75% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (−9%). Method
- In 2024 it paid out 110% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with Louis N Cassett Foundation
- How to evaluate Louis N Cassett Foundation as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$9.8M
+8.0% YoY
Annual Giving
$546K
-3.2% YoY
Grant Count
92
+8.2% YoY
Avg Grant Size
$6K
-10.5% YoY
Under IRS private-foundation payout rules, Louis N Cassett Foundation reported a distributable amount of $530K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Foundation supports a broad range of charitable endeavors, including:
- Charitable and social service organizations
- Cultural programs and the arts
- Educational institutions
- Religious organizations
- Scientific and literary endeavors
- Poverty relief
- Disaster relief
- Health agencies
- Jewish organizations
The Foundation does not require that grant recipients have any particular religious or other affiliation, nor does it require financial support from recipients. The Foundation does require that recipients use granted funds in the manner specified in their request or as directed by the Foundation.
Grantmaking
How to Apply
**
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Geographic Focus
Where this funder awards grants
The Foundation primarily focuses on grants to organizations in:
- Philadelphia, Pennsylvania metropolitan area
- South Florida metropolitan area
Grant Distribution by State
Share of all 92 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $9,841,942
- Total revenues: $1,408,279
- Total expenses: $694,001
- Investment income and dividends: $269,586
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $9,841,942 | $9,113,802 | $9,555,349 |
| Revenue | $1,408,279 | $254,640 | $470,839 |
| Expenses | $694,001 | $697,607 | $735,473 |
| Qualifying Distributions | $584,250 | $601,263 | $634,224 |
| Net Investment Income | $1,314,384 | $183,449 | $374,802 |
| Distributable Amount | $529,646 | $527,331 | $561,053 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
467 grants across all recorded years
Open Grants
1 open opportunity from Louis N Cassett Foundation
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Jewish Federation of Greater Atlanta ($38,625), Atlanta Jewish Film Society ($30,500), Palm Beach Day Academy ($27,500).
| Recipient | Purpose | Amount |
|---|---|---|
| Jewish Federation of Greater Atlanta Atlanta, GA | TO FURTHER EXEMPT PURPOSE | $38,625 |
| Atlanta Jewish Film Society Atlanta, GA | TO FURTHER EXEMPT PURPOSE | $30,500 |
| Palm Beach Day Academy Palm Beach, FL | TO FURTHER EXEMPT PURPOSE | $27,500 |
| Achievability Philadelphia, PA | TO FURTHER EXEMPT PURPOSE | $20,000 |
| Boston Children's Hospital Boston, MA | TO FURTHER EXEMPT PURPOSE | $20,000 |
| Bound for College Inc Delray Beach, FL | TO FURTHER EXEMPT PURPOSE | $20,000 |
| Jupiter Medical Center Jupiter, FL | TO FURTHER EXEMPT PURPOSE | $20,000 |
| Mount Sinai Medical Center Miami Beach, FL | TO FURTHER EXEMPT PURPOSE | $20,000 |
| Freire Charter School Philadelphia, PA | TO FURTHER EXEMPT PURPOSE | $17,500 |
| Center for Law and Social Policy Washington, DC | TO FURTHER EXEMPT PURPOSE | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Malcolm B Jacobson | Trustee | 10 | $24,628 |
| Susan Kershbaum | Trustee | 2 | $7,280 |
| Vanessa Elias | Trustee | — | — |
Contact Information
Address: 1818 Market Street, Floor 16, Philadelphia, PA 19103-3604
Phone: 215-315-7789
Website: www.cassettfoundation.org
EIN: 23-6274038
The Foundation's annual tax returns are available for public inspection at its office by appointment within two weeks of receipt of an inspection request.
Frequently Asked Questions
What does Louis N Cassett Foundation fund?
The Foundation supports a broad range of charitable endeavors, including: • Charitable and social service organizations • Cultural programs and the arts • Educational institutions • Religious organizations • Scientific and literary endeavors • Poverty relief • Disaster relief • Health agencies • Jewish organizations The Foundation does not require that grant recipients have any particular religious or other affiliation, nor does it require financial support from recipients. The Foundation does …
How do I apply for a grant from Louis N Cassett Foundation?
The Foundation's Trustees meet periodically throughout the year to review grant requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
Where does Louis N Cassett Foundation make grants?
The Foundation primarily focuses on grants to organizations in: • Philadelphia, Pennsylvania metropolitan area • South Florida metropolitan area
What size grants does Louis N Cassett Foundation award?
In 2024, Louis N Cassett Foundation awarded 92 grants totaling $546K — an average of about $6K per grant, based on its IRS Form 990 filings.
How much is Louis N Cassett Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Louis N Cassett Foundation reported a distributable amount of $530K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Louis N Cassett Foundation's EIN?
Louis N Cassett Foundation's EIN (Employer Identification Number) is 23-6274038. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Louis N Cassett Foundation's focus areas in our free grants database
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.