Millstone Fund
Millstone Fund is a private foundation based in Cincinnati, Ohio, focused on enhancing the lives and well-being of people primarily in Greater Cincinnati. It supports nonprofit organizations working in health, education, and the arts.
Millstone Fund at a glance
In short: Millstone Fund gave $7.0M across 95 grants in 2025 (avg $74K), mostly in Ohio. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $7,020,041
- +12.1% vs 2024
- Grants made (2025)
- 95
- +10.5% vs 2024
- Average grant
- $73,895
- +1.5% vs 2024
- Median grant
- $35,000
- Total assets
- $235,062,816
- +46.3% vs 2024
- Primary geography
- Ohio (90% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to Millstone Fund
- How to Apply
-
Submit an LOI through the organization’s website. If invited, complete a full application and follow the instructions provided. Requests above $50,000 require permission from Millstone Fund.
- Review Cycle
- The standard LOI deadlines are April 1 and October 1; both 2026 dates have passed. The stated full application deadlines are June 15 and December 15.
- Deadline
- The standard LOI deadlines are April 1 and October 1; both 2026 dates have passed.
- Contact
Application contact: Millstone Fund Grants Office
Mailing address: PO Box 43575, Cincinnati, OH 45243
Phone: (513) 298-2018
Email: info@millstonefund.org
Website: https://millstonefund.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Millstone Fund
Who Millstone Fund funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Citylink Center ($500K). Together the top 10 received $3.2M.
Grant Size Distribution
249 grants across all recorded years
The most common grant size was under $50K: 149 grants of 249 (60%).
Geographic Focus
Where this funder awards grants
Millstone Fund focuses primarily on Greater Cincinnati. In filing year 2025, 90% of grant dollars went to recipients in Ohio and 10% to recipients in Kentucky.
Grant Distribution by State
Share of 2025 grant dollars across all 95 itemized grants.
Cities
How Millstone Fund gives
- 14% of 2025 grantees were also funded in 2024. Method
- Giving grew 2244% from 2022 to 2025. Method
- In 2025 it paid out 73% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $195K (2021) to $7.0M (2025). In 2025 it made 95 grants totaling $7.0M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Citylink Center Cincinnati, OH | Capital | $500,000 |
| Strategies to End Homelessness Cincinnati, OH | Project/Program | $300,000 |
| Family Nurturing Center of Kentucky Florence, KY | Project/Program and Capital | $300,000 |
| Children's Home of Cincinnati Ohio Inc Cincinnati, OH | Capital | $300,000 |
| Beech Acres Parenting Center Cincinnati, OH | Project/Program | $300,000 |
| The Health Collaborative Cincinnati, OH | Project/Program | $283,000 |
| Valley Interfaith Community Resource Center Cincinnati, OH | Capacity Building | $250,000 |
| Robert Oneal Multicultural Art Center (Romac) Cincinnati, OH | Capital | $250,000 |
| Great Parks Forever Cincinnati, OH | Capital and Program | $250,000 |
| Addiction Services Council Cincinnati, OH | Capital | $250,000 |
Ready to take the next step with Millstone Fund?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $235,062,816 | $84,226,661 | $7,991,269 | $7,020,041 | 95 | $7,308,435 | $15,312,309 | $10,000,475 |
| 2024 | $160,655,097 | $5,513,478 | $7,328,175 | $6,262,453 | 86 | $6,522,309 | $4,781,333 | $7,184,948 |
| 2023 | $130,657,265 | $860,322 | $3,690,016 | $2,591,000 | 41 | $2,824,599 | $3,089,951 | $6,542,001 |
| 2022 | $121,689,828 | $116,008,191 | $760,492 | $299,500 | 15 | $368,296 | $7,225,279 | $2,869,955 |
| 2021 | $28,724,496 | $26,011,904 | $264,567 | $195,000 | 12 | — | $2,047,723 | $306,392 |
| 2020 | $2,977,159 | $3,000,474 | $23,301 | — | — | — | $81,509 | $189,079 |
Under IRS private-foundation payout rules, Millstone Fund reported a distributable amount of $10.0M for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
Millstone Fund’s mission is to contribute to the enhancement of people’s lives and well-being, primarily in Greater Cincinnati, through grants principally to established organizations advancing health, education, and the arts. Its priorities include equity and addressing disparities in opportunities and outcomes. The foundation highlights health care access and mental health, child development and behavioral health, educational equity, and arts opportunities for under-resourced communities and people with disabilities.
Its 2025 grantees illustrate the range of organizations it supports. CityLink Center describes its mission as providing an integrated path to holistic life change for people in need. Family Nurturing Center of Kentucky says it works to end the cycle of child abuse through prevention and treatment services. The Children’s Home of Cincinnati says it strengthens families and the community through education, behavioral, and health services. Beech Acres describes its work as equipping adults to meet children’s needs and cultivate their strengths.
Grantmaking
In filing year 2025, Millstone Fund reported 95 grants totaling $7,020,041. Grants ranged from $10,000 to $500,000, with a median of $35,000. The largest listed awards included $500,000 to CityLink Center for capital; $300,000 each to Strategies to End Homelessness for project/program support, Family Nurturing Center of Kentucky for project/program and capital, the Children’s Home of Cincinnati for capital, and Beech Acres Parenting Center for project/program support. Other notable awards included $283,000 to The Health Collaborative for project/program support and $250,000 each to Valley Interfaith Community Resource Center for capacity building, Robert O’Neal Multicultural Art Center for capital, Great Parks Forever for capital and program, and Addiction Services Council for capital.
The foundation awards grants twice a year, in March and September. Eligible organizations include nonprofits with active 501(c)(3) status that directly benefit Greater Cincinnati residents in health, education, and/or the arts. The process begins with an online letter of intent (LOI); a review committee determines whether to invite an organization to submit a full application. The website says the portal opens in early August for March awards and early February for September awards, with no access code required. Requests generally should not be below $10,000. Unsolicited requests, requests from organizations new to the fund, and operating/program requests unless approved by the board should not exceed $50,000. The website says organizations typically complete the grant period and evaluation follow-up before submitting another LOI for the same need, and generally will not be funded for the same need more often than every two years.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Alonzo T. Folger IV as president, Alonzo T. Folger V as vice president, Valerie Folger as treasurer, and Elle S. Folger as secretary. Corrie Scaringe and Carly Chu are listed as directors.
Millstone Fund is led by Alonzo T. Folger IV, President on every filing since 2020; 3 of 6 officers listed in 2025 are compensated.
Officers on the 2025 filing
Alonzo T. Folger IV
President
On filings since 2020
10 hrs/week
No compensation reported
Corrie Scaringe
Director
Board Member → Director, 2023
On filings since 2021
29 hrs/week
$28K (2022) → $82K (2025)
Carly Chu
Director
On filings since 2023
4 hrs/week
No compensation reported
Alonzo T. Folger V
Vice President
On filings since 2020
12 hrs/week
$37K (2023) → $75K (2025)
Elle S. Folger
Secretary
On filings since 2020
29 hrs/week
$34K (2022) → $98K (2025)
Valerie G. Folger
Treasurer
On filings since 2020
10 hrs/week
No compensation reported
Former officers (1)
- Former: Jeremy F. Simpson (2020–2021) — Chairman
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $98K, to Elle S Folger (Secretary). 3 officers or directors reported compensation on that filing.
Frequently asked questions about Millstone Fund
How much does Millstone Fund give each year?
Millstone Fund gave $7.0M across 95 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $6.3M across 86 grants.
What is Millstone Fund's typical grant size?
Millstone Fund's median grant in 2025 was $35,000, and its average grant was $73,895, across 95 grants on its 2025 IRS Form 990-PF.
Where does Millstone Fund give grants?
Millstone Fund gives mostly in Ohio: 90% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Kentucky (10%). The most frequent recipient cities were Cincinnati, OH (78 grants), Covington, KY (5 grants) and Blue Ash, OH (3 grants).
Does Millstone Fund give general operating support?
Occasionally: 6% of Millstone Fund's 2025 grants with a stated purpose (6 of 95) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Project/Program" (76 grants) and "Capital" (9 grants).
Who are Millstone Fund's largest grantees?
Millstone Fund's largest 2025 grantees include Citylink Center ($500,000), Children's Home of Cincinnati Ohio Inc ($400,000 across 2 grants) and Beech Acres Parenting Center ($400,000 across 2 grants), according to its 2025 IRS Form 990-PF. Together they received 19% of its itemized 2025 grant dollars.
How large is Millstone Fund?
Millstone Fund reported $235.1M in total assets on its 2025 IRS Form 990-PF. It paid out $7.3M in qualifying distributions that year, against a required minimum of $10.0M (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.
What does Millstone Fund fund?
Millstone Fund’s mission is to contribute to the enhancement of people’s lives and well-being, primarily in Greater Cincinnati, through grants principally to established organizations advancing health, education, and the arts. See mission & focus areas ↑
How do I apply for a grant from Millstone Fund?
Submit an LOI through the organization’s website. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Millstone Fund's EIN?
Millstone Fund's EIN (Employer Identification Number) is 83-4320073. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS February 5, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS January 27, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS February 6, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS January 24, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS February 16, 2026)
- Added Form 990-PF for fiscal year 2025 (received by the IRS February 16, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Millstone Fund's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Millstone Fund funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/millstone-fund-morg_8eeac7d2292041adb95c38d461ebfad8
BibTeX
@misc{grantable_834320073_2026,
author = {{Grantable}},
title = {{Millstone Fund funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/millstone-fund-morg_8eeac7d2292041adb95c38d461ebfad8},
note = {Accessed 2026-10-12. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Millstone Fund'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.
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