Morningstar Foundation is a private foundation focused on Housing & Shelter, based in Skokie, IL. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $320K in total assets. In 2025, it awarded 3 grants totaling $49K. Net investment income was $11K.
Key facts about Morningstar Foundation
In short: Morningstar Foundation gave $49K across 3 grants in 2025 (avg $16K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- EIN
- 36-3926901
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $48,700
- Grants made (2025)
- 3
- Average grant
- $16,233
- Median grant
- $10,000
- Total assets
- $319,970
- Primary geography
- Illinois (79% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$320K
-5.5% YoY
Annual Giving
$49K
+85.9% YoY
Grant Count
3
+50.0% YoY
Avg Grant Size
$16K
+23.9% YoY
Under IRS private-foundation payout rules, Morningstar Foundation reported a distributable amount of $26K for 2025 — the minimum it must pay out in qualifying distributions.
How Morningstar Foundation gives
- Giving fell 72% from 2022 to 2025. Method
- In 2025 it paid out 195% 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
Share of 2025 grant dollars across all 3 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $10K (2019) to $176K (2022). In 2025 it made 3 grants totaling $49K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was Northwestern University ($36K). Together the top 3 received $49K.
Grant Size Distribution
12 grants across all recorded years
The most common grant size was under $50K: 11 grants of 12 (92%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Northwestern University Evanston, IL | Grants for Advancement of Students | $36,200 |
| The University of Texas Permian Bas Odessa, TX | Scholarship Fund for Advancement of Students | $10,000 |
| The Wetlands Initiative Chicago, IL | To Advance Wetland Restoration | $2,500 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $319,970 | $338,592 | $300,013 |
| Revenue | $31,749 | $66,074 | $20,602 |
| Expenses | $50,371 | $27,495 | $12,324 |
| Qualifying Distributions | $50,007 | $27,175 | $12,029 |
| Net Investment Income | $11,385 | $35,754 | $20,307 |
| Distributable Amount | $25,683 | $23,295 | $19,999 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS April 29, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS June 8, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 10, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 16, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 14, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 11, 2026)
- IRS filings on file for fiscal years 2019–2024
Leadership & Key People
Officers and directors from IRS filings
Morningstar Foundation is led by Larah Kent Tannenbaum, President since 2025 (on filings since 2019); none of the 6 officers listed in 2025 report compensation.
Officers on the 2025 filing
Larah Kent Tannenbaum
President
Director → President, 2025
On filings since 2019
0.1 hrs/week
No compensation reported
Coleen Kent Karpf
Director
On filings since 2019
0.1 hrs/week
No compensation reported
Katherine May Madden
Director
On filings since 2019
0.1 hrs/week
No compensation reported
Michael D. Frisch
Director
Assistant Secretary & Director → Director, 2022
On filings since 2019
0.2 hrs/week
No compensation reported
Christine C. Frisch
Secretary
Assistant Secretary & Director → Secretary, 2022
On filings since 2019
0.2 hrs/week
No compensation reported
Paul A. Kent
Treasurer
Assistant Secretary, Treasurer & Director → Assistant Secretary, 2021
Assistant Secretary → Treasurer, 2022
On filings since 2019
0.2 hrs/week
No compensation reported
Former officers (2)
- Former: Frances B. Kent (2019–2024) — President
- Former: Thomas A. Korman (2019–2024) — Secretary
Data from IRS Form 990 filings, 2019–2025. "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 Morningstar Foundation
How much does Morningstar Foundation give each year?
Morningstar Foundation gave $49K across 3 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $26K across 2 grants.
What is Morningstar Foundation's typical grant size?
Morningstar Foundation's median grant in 2025 was $10,000, and its average grant was $16,233, across 3 grants on its 2025 IRS Form 990-PF.
Where does Morningstar Foundation give grants?
Morningstar Foundation gives mostly in Illinois: 79% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Texas (21%).
Does Morningstar Foundation give general operating support?
Not in 2025: none of the 3 grants with a stated purpose on Morningstar Foundation's 2025 IRS Form 990-PF were described as general or operating support.
How large is Morningstar Foundation?
Morningstar Foundation reported $320K in total assets on its 2025 IRS Form 990-PF. It paid out $50K in qualifying distributions that year, against a required minimum of $26K (roughly 5% of its investment assets).
What is Morningstar Foundation?
Morningstar Foundation is a private foundation focused on Housing & Shelter, based in Skokie, IL. It holds $320K in total assets as of 2025.
What is Morningstar Foundation's EIN?
Morningstar Foundation's EIN (Employer Identification Number) is 36-3926901. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
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