Madrigal Foundation
Madrigal Foundation is a private foundation, based in Philadelphia, PA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $7.7M in total assets. In 2024, it awarded 1 grant totaling $440K. Net investment income was $438K.
Madrigal Foundation at a glance
In short: Madrigal Foundation gave $440K across 1 grant in 2024 (avg $440K), mostly in Rhode Island. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $440,000
- -1.7% vs 2023
- Grants made (2024)
- 1
- -66.7% vs 2023
- Average grant
- $440,000
- +195.0% vs 2023
- Median grant
- $440,000
- Total assets
- $7,748,279
- -0.3% vs 2023
- Primary geography
- Rhode Island (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Madrigal Foundation funds
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was Vanguard Charitable Endowment Program (The Madrigal Fund) ($440K).
Grant Size Distribution
12 grants across all recorded years
The most common grant size was in the $250–500K range: 5 grants of 12 (42%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
Cities
How Madrigal Foundation gives
- Giving held roughly steady from 2021 to 2024 (−7%). Method
- In 2024 it paid out 97% 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 2020 to 2024, annual grant giving ranged from $405K (2020) to $475K (2021). In 2024 it made 1 grant totaling $440K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Vanguard Charitable Endowment Program (The Madrigal Fund) Warwick, RI | Contribution to the Madrigal Fund | $440,000 |
Ready to take the next step with Madrigal Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $7,748,279 | $457,772 | $483,398 | $440,000 | 1 | $461,218 | $437,592 | $477,615 |
| 2023 | $7,773,905 | $185,756 | $494,624 | $447,500 | 3 | $447,500 | $156,099 | $432,345 |
| 2022 | $8,082,773 | $38,559 | $507,675 | $455,000 | 1 | $455,000 | $98,117 | $448,630 |
| 2021 | $8,551,889 | $1,566,883 | $515,354 | $475,000 | 4 | $475,000 | $1,534,531 | $491,785 |
| 2020 | $7,500,360 | $149,844 | $458,302 | $405,000 | 3 | — | $111,940 | $435,758 |
Under IRS private-foundation payout rules, Madrigal Foundation reported a distributable amount of $478K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Madrigal Foundation is led by Anne C. Sherrerd, Director & President on every filing since 2020; none of the 3 officers listed in 2024 report compensation.
Officers on the 2024 filing
Anne C. Sherrerd
Director & President
On filings since 2020
0.1 hrs/week
No compensation reported
Alexandra Laird
Director & Treasurer
On filings since 2020
0.1 hrs/week
No compensation reported
Michelle Fort
Director & Secretary
On filings since 2020
0.1 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "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 Madrigal Foundation
How much does Madrigal Foundation give each year?
Madrigal Foundation gave $440K across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $448K across 3 grants.
How large is Madrigal Foundation?
Madrigal Foundation reported $7.7M in total assets on its 2024 IRS Form 990-PF. It paid out $461K in qualifying distributions that year, against a required minimum of $478K (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 Madrigal Foundation operate?
Madrigal Foundation has awarded grants in Connecticut, New Jersey, Ohio, Rhode Island.
What is Madrigal Foundation's EIN?
Madrigal Foundation's EIN (Employer Identification Number) is 81-4881123. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Madrigal Foundation's focus areas in our free grants database
Similar Funders
Funders with grantees in common
IBM International Foundation
Armonk, NY
The IBM International Foundation funds education and workforce programs that build 21st-century and technology job skills, including initiatives for underserved students and job seekers. Its 2024 grants ranged from $10,000 to $8.48 million, with a median of $100,000, and went to organizations across several U.S. states, especially Delaware and Massachusetts. It funds only preselected organizations and does not accept unsolicited requests.
Assets
$357.7M
Grants
16
Total Given
$11.7M
The Alec and Tamar Ellison Family
Greenwich, CT
Assets
$411K
Grants
4
Total Given
$55K
Aetna Foundation Inc
Hartford, CT
Aetna Foundation supported health and wellness, access to health care, and related community needs; its 2021 grants ranged from $5,000 to $1 million, with a median of $40,000, and went to organizations across multiple states, especially in D.C. and Connecticut. Its 2021 filing was marked final, so it appears to have ended or be winding down grantmaking; that filing said there were no restrictions on who could apply and pointed applicants to its website for application materials.
Assets
—
Grants
65
Total Given
$7.2M
Rensselaer Polytechnic Institute
Troy, NY
Rensselaer Polytechnic Institute’s reported grants primarily support research subcontracts to universities, medical institutions, and research organizations; its student scholarships and fellowships are not grants to outside applicants. In 2025, grants ranged from $5,700 to $659,031, with a median of $71,429, and recipients were located across the U.S., especially in New York. It does not state whether it accepts unsolicited funding requests.
Assets
$1.8B
Grants
57
Total Given
$7.3M
Felicia M Delorenzo Scholarship
Boston, MA
The Felicia M. DeLorenzo Scholarship Foundation supports post-secondary education for high school graduates who live in Arlington, Massachusetts, with scholarships recognizing academic achievement, strong work ethic, and community commitment. In 2024, grants ranged from $1,500 to $63,125, with a median of $4,500; the Foundation does not accept unsolicited funding requests.
Assets
$4.6M
Grants
61
Total Given
$367K
Open Society Institute
New York, NY
The Open Society Institute funds organizations and individuals advancing democracy, human rights, equity, and justice, including work on civic engagement, independent media, and digital rights. Its 2024 grants had a median of $15,000, though awards ranged widely, and it supports work nationally and globally. Application processes vary by program; most grants go to groups approached directly, and the Latin America and Caribbean program rarely funds unsolicited proposals.
Assets
$5.4B
Grants
559
Total Given
$146.9M
More similar funders
More Funders in Pennsylvania
The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open
Figures come from Madrigal Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Madrigal Foundation down — hundreds of funders to go?