MassMutual Foundation Inc
MassMutual Foundation Inc is a private foundation based in Springfield, Massachusetts. Its stated mission is to build the financial resilience of communities so families can develop financial capability and thrive.
MassMutual Foundation Inc at a glance
In short: MassMutual Foundation Inc gave $24.4M across 5 grants in 2024 (avg $4.9M), mostly in Delaware. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $24,442,629
- +102.5% vs 2023
- Grants made (2024)
- 5
- -95.2% vs 2023
- Average grant
- $4,888,526
- +4112.0% vs 2023
- Median grant
- $896,000
- Total assets
- $34,302,568
- +301.0% vs 2023
- Primary geography
- Delaware (89% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
How to apply to MassMutual Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 1295 State Street, Springfield, MA 01111
Phone: (413) 744-5031
Website: https://massmutual.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who MassMutual Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
The largest 2024 recipient was American Online Giving Foundation ($21.8M). Together the top 5 received $24.4M.
Grant Size Distribution
367 grants across all recorded years
The most common grant size was under $50K: 221 grants of 367 (60%).
Geographic Focus
Where this funder awards grants
The 2024 grant dollars were distributed among recipients in Delaware (89%), Massachusetts (10%), and Connecticut (1%). Listed Massachusetts recipients included organizations in Amherst and Springfield; the Connecticut recipient was in Hartford.
Grant Distribution by State
Share of 2024 grant dollars across all 5 itemized grants.
States
Cities
How MassMutual Foundation Inc gives
- Giving grew 154% from 2021 to 2024. Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). 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 $9.6M (2021) to $24.4M (2024). In 2024 it made 5 grants totaling $24.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| American Online Giving Foundation Newark, DE | Exempt Purpose | $21,773,971 |
| University of Massachusetts Amherst Foundation Inc Memorial Hall, MA | Exempt Purpose | $1,500,000 |
| Community Foundation of Western Massachusetts Springfield, MA | Exempt Purpose | $896,000 |
| Saint Francis Hospital & Medical Center Foundation Inc Hartford, CT | Exempt Purpose | $250,000 |
| Community United Way of Pioneer Valley Inc Springfield, MA | Exempt Purpose | $22,658 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Distributable Amount |
|---|---|---|---|---|---|---|---|
| 2024 | $34,302,568 | $58,873,009 | $48,480,876 | $24,442,629 | 5 | $33,252,171 | $33,939 |
| 2023 | $8,554,000 | $820,000 | $27,563,000 | $12,070,513 | 104 | $29,816,513 | $48,143 |
| 2022 | $31,299,000 | $36,320,000 | $18,770,000 | $9,640,034 | 90 | $25,075,034 | $138,628 |
| 2021 | $16,295,000 | $8,380,000 | $17,096,000 | $9,606,484 | 81 | $19,138,484 | $191,479 |
| 2020 | $25,929,000 | $11,933,000 | $17,821,000 | $10,273,389 | 87 | — | $138,039 |
Under IRS private-foundation payout rules, MassMutual Foundation Inc reported a distributable amount of $34K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation’s stated mission is “building the financial resilience of communities so that all families can build their financial capability and thrive.” Its focus areas include connecting people to build social capital; supporting less debt, more savings, and improved credit; helping meet basic needs; and building skills and knowledge that can support employment or starting a business.
The foundation also reports direct charitable activity through a financial education program for middle school students. FutureSmart provides financial literacy curriculum and supplemental resources for students and educators.
Grantmaking
In filing year 2024, the foundation reported five grants totaling $24,442,629. The grants ranged from $22,658 to $21,773,971, with a median of $896,000. The largest listed grants were $21,773,971 to American Online Giving Foundation, $1,500,000 to University of Massachusetts Amherst Foundation, and $896,000 to Community Foundation of Western Massachusetts. The stated purpose for each was “exempt purpose.”
The foundation also announced a $2 million award to Way Finders in October 2024 to support expansion of its City of Homes program, and a $1 million gift to Square One in September 2024 for its capital campaign.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Dennis Duquette as President/CEO; James Paul Puhala III as Clerk; Alison Mathias as Vice President; Pablo Cabrera as Treasurer; Brian Finucane as Assistant Treasurer; Christine Gouine and Noell Tuesta as Associate Clerks; and Sherriff Balogun, Shefali Desai, and Amy Dias as Directors. Shefali Desai joined on November 11, 2024.
MassMutual Foundation Inc is led by Dennis Duquette, President & CEO on every filing since 2020; none of the 15 officers listed in 2024 report compensation.
Officers on the 2024 filing
Dennis Duquette
President & CEO
On filings since 2020
3 hrs/week
No compensation reported
Dorothy Varon
Director
On filings since 2020
2 hrs/week
No compensation reported
Sherriff Balogun
Director
On filings since 2020
2 hrs/week
No compensation reported
Michael Morrissey
Director
Director From → Director, 2022
On filings since 2021
2 hrs/week
No compensation reported
Amy Dias
Director
On filings since 2023
2 hrs/week
No compensation reported
Sucharita Varanasi
Director
Director From → Director, 2024
On filings since 2023
2 hrs/week
No compensation reported
Frances Thomas
Director
New on the 2024 filing
2 hrs/week
No compensation reported
Joshua Lubas
Director
New on the 2024 filing
2 hrs/week
No compensation reported
Shefali Desai
Director
New on the 2024 filing
2 hrs/week
No compensation reported
Alison Mathias
Vice President
On filings since 2020
3 hrs/week
No compensation reported
Christine Gouine
Associate Clerk
On filings since 2020
2 hrs/week
No compensation reported
James Paul Puhala III
Clerk
On filings since 2020
2 hrs/week
No compensation reported
Noell Tuesta
Associate Clerk
On filings since 2020
2 hrs/week
No compensation reported
Pablo Cabrera
Treasurer
Treasurer & Director From → Treasurer & Director, 2022
Treasurer & Director → Treasurer, 2024
On filings since 2021
3 hrs/week
No compensation reported
Brian Finucane
Assistant Treasurer
New on the 2024 filing
2 hrs/week
No compensation reported
Former officers (7)
- Former: Eleanor Williams (2020–2023) — Director
- Former: Brian Funicane (2021–2023) — Assistant Treasurer
- Former: Amy Diaz (2021–2022) — Director
- Former: Derek Darley (2020–2021) — Treasurer & Director
- Former: Judy Breault (2020–2021) — Director
- Former: Keia Cole (2020–2021) — Director
- Former: Maureen Morris (2020) — Associate Treasurer
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 MassMutual Foundation Inc
How much does MassMutual Foundation Inc give each year?
MassMutual Foundation Inc gave $24.4M across 5 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $12.1M across 104 grants.
What is MassMutual Foundation Inc's typical grant size?
MassMutual Foundation Inc's median grant in 2024 was $896,000, and its average grant was $4,888,526, across 5 grants on its 2024 IRS Form 990-PF.
Where does MassMutual Foundation Inc give grants?
MassMutual Foundation Inc gives mostly in Delaware: 89% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Massachusetts (10%). The most frequent recipient cities were Springfield, MA (2 grants).
Who are MassMutual Foundation Inc's largest grantees?
MassMutual Foundation Inc's largest 2024 grantees include American Online Giving Foundation ($21,773,971), University of Massachusetts Amherst Foundation Inc ($1,500,000) and Community Foundation of Western Massachusetts ($896,000), according to its 2024 IRS Form 990-PF. Together they received 99% of its itemized 2024 grant dollars.
How large is MassMutual Foundation Inc?
MassMutual Foundation Inc reported $34.3M in total assets on its 2024 IRS Form 990-PF. It paid out $33.3M in qualifying distributions that year, against a required minimum of $34K (roughly 5% of its investment assets).
What does MassMutual Foundation Inc fund?
The foundation’s stated mission is “building the financial resilience of communities so that all families can build their financial capability and thrive.” See mission & focus areas ↑
How do I apply for a grant from MassMutual Foundation Inc?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is MassMutual Foundation Inc's EIN?
MassMutual Foundation Inc's EIN (Employer Identification Number) is 47-4967720. IRS Form 990 filing data is available on this page for 2020–2024.
Does MassMutual Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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MassMutual Foundation Inc down — hundreds of funders to go?