Mark G Hovanasian Foundation

Private foundation · Grantmaker North Andover, MA EIN: 47-1391177

Mark G Hovanasian Foundation is a private foundation, based in North Andover, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $360K in total assets. In 2024, it awarded 4 grants totaling $34K. Net investment income was $20K.

Key facts about Mark G Hovanasian Foundation

In short: Mark G Hovanasian Foundation gave $34K across 4 grants in 2024 (avg $8K), top state Massachusetts. Source: 2024 IRS Form 990-PF.

EIN
47-1391177
Latest 990 filing
Form 990-PF, 2024
Annual giving (2024)
$33,500
Grants made (2024)
4
Average grant
$8,375
Median grant
$8,750
Total assets
$359,854
Primary geography
Massachusetts (48% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated October 2026.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$360K

-5.8% YoY

Annual Giving

$34K

-6.9% YoY

Grant Count

4

-20.0% YoY

Avg Grant Size

$8K

+16.3% YoY

Under IRS private-foundation payout rules, Mark G Hovanasian Foundation reported a distributable amount of $32K for 2024 — the minimum it must pay out in qualifying distributions.

How Mark G Hovanasian Foundation gives

  • Giving grew 46% from 2021 to 2024. Method
  • In 2024 it paid out 119% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

6states

Share of 2024 grant dollars across all 4 itemized grants.

Cities

ChelmsfordMemphisPorthmouthHagerstownHaverhillBlue AshBostonDallas

Giving Over Time

Total grant dollars and number of grants per year

$0$10K$20K$30K$40K5 grants2020 6 grants2021 3 grants2022 5 grants2023 4 grants2024

From 2020 to 2024, annual grant giving ranged from $18K (2022) to $36K (2023). In 2024 it made 4 grants totaling $34K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 4 recipients in 2024

Saint Vartanantz: $15KSaint Vartanantz$15KSt Jude's: $15KSt Jude's$15KKrempels Center: $3KKrempels Center$3KDana Farber Cancer Institute: $1KDana Farber Cancer Institute$1K

The largest 2024 recipient was Saint Vartanantz ($15K). Together the top 4 received $34K.

Grant Size Distribution

23 grants across all recorded years

23<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 23 grants of 23 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Saint Vartanantz Chelmsford, MAReligious$15,000
St Jude's Memphis, TNMedical$15,000
Krempels Center Porthmouth, NHMedical$2,500
Dana Farber Cancer Institute Boston, MAMedical$1,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$20K$40K$60K$80K2020 2021 2022 2023 2024
Metric202420232022
Total Assets$359,854$382,204$466,154
Revenue$27,362$-32,576$54,117
Expenses$49,712$51,374$30,338
Qualifying Distributions$38,107$40,220$21,874
Net Investment Income$19,891$10,482$46,188
Distributable Amount$31,954$31,295$35,412

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS September 15, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS November 14, 2022)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS November 15, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS November 12, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS November 17, 2025)
  6. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Officers and directors from IRS filings

Mark G Hovanasian Foundation is led by Albert Pettoruto, Trustee on every filing since 2020 — the only officer listed, and compensated.

Officers on the 2024 filing

  • Albert Pettoruto

    Trustee

    On filings since 2020

    1 hr/week

    $9K (2020) → $9K (2024)

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.

Compensation Overview

From 2024 IRS filing

Albert Pettoruto — Trustee: $9KAlbert PettorutoTrustee$9K

The highest reported compensation on the 2024 filing was $9K, to Albert Pettoruto (Trustee).

Frequently asked questions about Mark G Hovanasian Foundation

How much does Mark G Hovanasian Foundation give each year?

Mark G Hovanasian Foundation gave $34K across 4 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $36K across 5 grants.

What is Mark G Hovanasian Foundation's typical grant size?

Mark G Hovanasian Foundation's median grant in 2024 was $8,750, and its average grant was $8,375, across 4 grants on its 2024 IRS Form 990-PF.

Where does Mark G Hovanasian Foundation give grants?

Mark G Hovanasian Foundation's top state is Massachusetts, with 48% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Tennessee (45%) and New Hampshire (7%).

Does Mark G Hovanasian Foundation give general operating support?

Not in 2024: none of the 4 grants with a stated purpose on Mark G Hovanasian Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Medical" (3 grants).

How large is Mark G Hovanasian Foundation?

Mark G Hovanasian Foundation reported $360K in total assets on its 2024 IRS Form 990-PF. It paid out $38K in qualifying distributions that year, against a required minimum of $32K (roughly 5% of its investment assets).

What is Mark G Hovanasian Foundation's EIN?

Mark G Hovanasian Foundation's EIN (Employer Identification Number) is 47-1391177. IRS Form 990 filing data is available on this page for 2020–2024.

Data last updated October 2026. Sourced from IRS Form 990-PF filings.

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