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
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
No grants recorded for .
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
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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