The Mansueto Foundation is a private philanthropic organization established in 2009 by Joe Mansueto, founder and CEO of Morningstar Inc., and his wife Rika Yoshida. Based in Chicago, Illinois, the foundation operates as a low-profile grantmaker focused primarily on Chicago-based giving while maintaining limited public transparency about its operations.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$49.4M
+12.3% YoY
Annual Giving
$9.8M
-13.0% YoY
Grant Count
51
-10.5% YoY
Avg Grant Size
$192K
-2.8% YoY
Under IRS private-foundation payout rules, Mansueto Foundation reported a distributable amount of $2.8M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's stated mission is to "elevate the quality of our communities, improve lives, and make the world a better place." Primary funding areas include:
- Education — including support for K-12 and higher education institutions
- Arts and Culture
- Civic Engagement — including investigative journalism and civic reform initiatives
- Health — supporting healthcare institutions and research
- Community Development
Grantmaking
The foundation does not operate formal grant programs with set application cycles. Grants are awarded through trustee discretion and pre-existing relationships. The foundation does not accept unsolicited grant applications and maintains a selective, invitation-only approach to grantmaking.
Grant Range
$10,000 to $1,000,000+
Average Grant
$366 to $844 (varies by source)
How to Apply
**
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Geographic Focus
Where this funder awards grants
The foundation concentrates heavily on Chicago-based organizations and institutions. Geographic funding distribution extends to major U.S. cities including New York and San Francisco, with some international grants to locations such as London and New South Wales.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
- Total Assets: $44 million to $49.4 million (as of most recent filings)
- Annual Giving: $9.8 million to $11.8 million
- Total Revenues (2024): $15.4 million
- Total Expenses (2024): $10.1 million
- Number of Employees: 0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $49,420,105 | $44,021,065 | $42,808,570 |
| Revenue | $15,366,370 | $13,148,678 | $10,720,254 |
| Expenses | $10,068,235 | $11,836,060 | $11,339,271 |
| Qualifying Distributions | $9,829,612 | $11,367,332 | $10,505,841 |
| Net Investment Income | $7,259,253 | $13,735,365 | $9,218,791 |
| Distributable Amount | $2,843,651 | $2,636,154 | $2,826,966 |
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
242 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Northwestern Memorial Foundation ($2,000,000), Shedd Aquarium Society ($2,000,000), Wbezchicago Public Media ($1,000,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AFTER SCHOOL MATTERS CHICAGO, IL | GENERAL SUPPORT | $75,000 |
| AMERICAN ONLINE GIVING FOUNDATION NEWARK, DE | GENERAL SUPPORT | $88,138 |
| ART INSTITUTE OF CHICAGO CHICAGO, IL | GENERAL SUPPORT | $100,000 |
| AZIRA MICHAEL YOUTH FOUNDATION PENSACOLA, FL | GENERAL SUPPORT | $25,000 |
| BETTER GOVERNMENT ASSOCIATION CHICAGO, IL | GENERAL SUPPORT | $200,000 |
| BRAVEN CHICAGO, IL | GENERAL SUPPORT | $25,000 |
| BY THE HAND CLUB FOR KIDS CHICAGO, IL | GENERAL SUPPORT | $50,000 |
| CHANGE ILLINOIS CHICAGO, IL | GENERAL SUPPORT | $100,000 |
| CHICAGO FIRE FOUNDATION CHICAGO, IL | GENERAL SUPPORT | $100,000 |
| CHICAGO MATHMATICS AND SCIENCE ACADEMY CHICAGO, IL | GENERAL SUPPORT | $50,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Joseph D. Mansueto — President and Founder
- Rika Yoshida — Vice-President
Both serve without compensation. Rika Yoshida is a University of Chicago graduate and former Morningstar analyst.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOSEPH D MANSUETO | PRESIDENT/CHAIRMAN | 1 | — |
| RIKA YOSHIDA | VICE-PRESIDENT/DIRECTOR | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Mansueto Foundation fund?
The foundation's stated mission is to "elevate the quality of our communities, improve lives, and make the world a better place." Primary funding areas include: • **Education** — including support for K-12 and higher education institutions • **Arts and Culture** • **Civic Engagement** — including investigative journalism and civic reform initiatives • **Health** — supporting healthcare institutions and research • **Community Development**
How do I apply for a grant from Mansueto Foundation?
**Grant Characteristics:** • Grant range: $10,000 to $1,000,000+ • Average grant size: $366 to $844 (varies by source) • Recent annual giving: $9.8 million to $11.8 million **Application Process:** The foundation does not operate formal grant programs with set application cycles. Grants are awarded through trustee discretion and pre-existing relationships. The foundation does not accept unsolicited grant applications and maintains a selective, invitation-only approach to grantmaking. **Recent G…
Where does Mansueto Foundation make grants?
The foundation concentrates heavily on Chicago-based organizations and institutions. Geographic funding distribution extends to major U.S. cities including New York and San Francisco, with some international grants to locations such as London and New South Wales.
What size grants does Mansueto Foundation award?
In 2024, Mansueto Foundation awarded 51 grants totaling $9.8M — an average of about $192K per grant, based on its IRS Form 990 filings.
How much is Mansueto Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Mansueto Foundation reported a distributable amount of $2.8M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Mansueto Foundation's EIN?
Mansueto Foundation's EIN (Employer Identification Number) is 27-1895175. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Mansueto Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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