Mother Cabrini Health Foundation Inc
The Mother Cabrini Health Foundation is one of the largest foundations in the United States and the largest foundation focused exclusively on healthcare across New York State. Based in New York, NY, it is a 501(c)(3) private foundation organized under the New York Not-for-Profit Corporation Law. The Foundation originated from the 2018 sale of Fidelis Care, a nonprofit health insurer that had grown over 20 years to become one of the highest-rated, most successful insurers operating in New York State. The transaction was approved by New York State regulators in 2018 following rigorous governmental review and extensive public input.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$3.9B
+6.4% YoY
Annual Giving
$172.6M
+17.1% YoY
Grant Count
601
+9.5% YoY
Avg Grant Size
$287K
+7.0% YoY
Mission & Focus Areas
The Foundation's mission is to provide grants to improve the health and wellbeing of vulnerable New Yorkers, bolster the health outcomes of diverse communities, eliminate barriers to care, and bridge gaps in health services.
The Foundation supports initiatives that:
- Enhance access to affordable quality healthcare and healthcare-related services
- Address unmet healthcare and healthcare-related needs of communities across New York State
- Address the social determinants of health
- Operate consistent with the ethical principles, tenets, and teachings of the Roman Catholic Faith
Since its inception, the Mother Cabrini Health Foundation has awarded approximately 2,200 grants, totaling nearly $635 million, to nonprofits, community-based organizations, and healthcare and social services providers across New York State.
Grantmaking
The Foundation operates multiple grant programs including:
Grant Range
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Geographic Focus
Where this funder awards grants
The Foundation funds primarily across New York State, with some activity in New Jersey and Massachusetts.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2024):
- Total Assets: $3,931,571,110
- Total Revenue: $185,187,419
- Total Expenses: $302,939,667
- Net Income: -$117,752
- Total Liabilities: $97.3 million
Distributions:
- 2024 distributions: $200 million (estimated based on grant activity)
- 2023 distributions: $166 million
Staffing:
- 69 employees (2024)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $3,931,571,110 | $3,696,313,328 | $3,500,304,780 |
| Revenue | $185,187,419 | $113,266,427 | $70,610,636 |
| Expenses | $302,939,667 | $232,269,209 | $226,479,777 |
| Qualifying Distributions | $192,965,483 | $166,450,061 | $194,891,415 |
| Net Investment Income | $113,697,141 | $49,535,004 | $28,899,454 |
| Distributable Amount | $185,706,752 | $175,031,738 | $184,955,819 |
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
250 grants across all recorded years
Open Grants
5 open opportunities from Mother Cabrini Health Foundation Inc
Mother Cabrini Health Foundation: Access to Healthcare Grant Program
MOTHER CABRINI HEALTH FOUNDATION INC
Amount
More than US $75,000
Deadline
Rolling / Open
Mother Cabrini Health Foundation: Basic Needs Grant Program
MOTHER CABRINI HEALTH FOUNDATION INC
Amount
More than US $75,000
Deadline
Rolling / Open
Mother Cabrini Health Foundation: General Fund & Eight Populations Grant Program
MOTHER CABRINI HEALTH FOUNDATION INC
Amount
More than US $75,000
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Executive Leadership:
- Gregory Mustaciuolo – Chief Executive Officer ($839,000 annual compensation)
- Colin Ambrose – Chief Investment Officer ($1.5 million annual compensation)
- David Horne – Chief Financial Officer ($511,000 annual compensation)
- Channon Lucas – Executive Vice President, External Engagement ($555,000 annual compensation)
- Linzie Steinbach – Chief Compliance Officer ($406,000 annual compensation)
- Daniel Frascella – Chief Programs and Grants Officer ($477,000 annual compensation)
- Anupa Fabian – Chief Evaluation and Learning Officer ($357,000 annual compensation)
- Alfred F. Kelly Jr. – Chairperson & Director
The Foundation is led by a distinguished board comprised of healthcare experts.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| GREGORY MUSTACIUOLO | CHIEF EXECUTIVE OFFICER | 45 | $839,030 |
| COLIN AMBROSE | CHIEF INVESTMENT OFFICER | 45 | $1,492,013 |
| DAVID HORNE | CHIEF FINANCIAL OFFICER | 45 | $511,265 |
| CHANNON LUCAS | EXECUTIVE VP, EXTERNAL ENGAGEMENT | 45 | $555,022 |
| LINZIE STEINBACH | CHIEF COMPLIANCE OFFICER | 45 | $406,241 |
| DANIEL FRASCELLA | CHIEF PROGRAMS AND GRANTS OFFICER | 45 | $476,926 |
| ANUPA FABIAN | CHIEF EVALUATION AND LEARNING OFFICER | 45 | $357,133 |
| ALFRED F KELLY JR | CHAIRPERSON & DIRECTOR | 2 | — |
| CATHERINE R KINNEY | TREASURER & DIRECTOR | 2 | — |
| SAMUEL A DIPIAZZA JR | SECRETARY & DIRECTOR | 2 | — |
| JENNIFER C BALBACH | DIRECTOR | 1 | — |
| ROBERT M BENNET | DIRECTOR | 1 | — |
| KATHRYN CONNERTON | DIRECTOR | 1 | — |
| MICHAEL J COONEY | DIRECTOR | 1 | — |
| MARCOS A CRESPO | DIRECTOR | 1 | — |
| JOSEPH DUTKOWSKY MD | DIRECTOR | 1 | — |
| LAURA L FORESE MD | DIRECTOR | 1 | — |
| JOHN J GRAY JR | DIRECTOR | 1 | — |
| STANLEY E GRAYSON | DIRECTOR | 1 | — |
| CARLA A HARRIS | DIRECTOR | 1 | — |
| PETER J JOHNSON JR | DIRECTOR | 1 | — |
| ALEX LADOUCEUR | DIRECTOR | 1 | — |
| ROBERT NIEHAUS | DIRECTOR | 1 | — |
| SISTER PIETRINA RACCUGLIA MSC | DIRECTOR | 1 | — |
| KATHRYN H RUSCITTO | DIRECTOR | 1 | — |
| KEVIN RYAN | DIRECTOR | 1 | — |
| RICHARD J J SULLIVAN JR | DIRECTOR | 1 | — |
Recent News & Activity
Recent developments and announcements
The Foundation has announced significant grant initiatives in recent years:
Announcing Our 2025 Year-End Grants - Mother Cabrini Health Foundation**2025 Year-End Grants:** The Foundation announced its 2025 year-end grants program
Announcing Our 2025 Year-End Grants - Mother Cabrini Health Foundation**$142 Million in Grants:** The Foundation awarded $142 million in health and social service grants
Announcing Our 2025 Year-End Grants - Mother Cabrini Health Foundation**$208 Million in Grants:** The Foundation awarded $208 million in grants across its programs
Announcing Our 2025 Year-End Grants - Mother Cabrini Health Foundation**$51 Million Nursing Initiative:** Launched a $51 million grant program to support nurse workforce in safety net hospitals across New York State
Mother Cabrini Health Foundation Launches $51M Grant Program to Support NurseThe Foundation maintains active engagement with the nonprofit sector and continues to expand its grantmaking activities across healthcare and social services in New York State.
Mother Cabrini Health Foundation awards $142M in health, social service grantsSubject Areas
Focus areas based on grantmaking activity
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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