Mustang Foundation Inc
Mustang Foundation Inc is a private foundation based in Oceanport, New Jersey. Its 2025 filing reports 44 grants totaling $5,941,000, supporting organizations that include arts and cultural groups, animal-welfare organizations, and community-service providers.
Mustang Foundation Inc at a glance
In short: Mustang Foundation Inc gave $5.9M across 44 grants in 2025 (avg $135K), top state New York. 34% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $5,941,000
- +43.2% vs 2024
- Grants made (2025)
- 44
- +37.5% vs 2024
- Average grant
- $135,023
- +4.2% vs 2024
- Median grant
- $50,000
- Total assets
- $26,392,632
- -13.2% vs 2024
- New grantees (estimate)
- 34% first-time grantees (15 of 44, 2025)
- Primary geography
- New York (40% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Mustang Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 5 Blackberry Bay Drive, Oceanport, NJ 07757
Phone: (732) 963-9145
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Mustang Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Roundabout Theater Company ($1.3M). Together the top 10 received $4.8M.
Grant Size Distribution
113 grants across all recorded years
The most common grant size was under $50K: 69 grants of 113 (61%).
Geographic Focus
Where this funder awards grants
In 2025, grant dollars went to recipients in New York (40%), New Jersey (38%), California (8%), Maryland (8%), and Oregon (3%).
Grant Distribution by State
Share of 2025 grant dollars across all 44 itemized grants.
States
Cities
Is Mustang Foundation Inc open to new grantees?
34%
first-time grantees, 2025
In 2025, 15 of 44 grantees (34%) were first-time recipients. First grants averaged $48K; repeat grants $180K. How we count
Medians: $25K first-time, $50K repeat.
- 57% of 2025 grantees were also funded in 2024. Method
- In 2025 it paid out 372% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2023–2025). 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 2023 to 2025, annual grant giving ranged from $1.6M (2023) to $5.9M (2025). In 2025 it made 44 grants totaling $5.9M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Roundabout Theater Company New York, NY | General Support | $1,300,000 |
| YMCA of Greater Monmouth County Shrewsbury, NJ | General Support | $1,000,000 |
| Monmouth County SPCA Eatontown, NJ | General Support | $625,000 |
| Gentle Giants Draft Horse Rescue Mt Airy, MD | General Support | $450,000 |
| Find Your Light Foundation Los Angeles, CA | General Support | $350,000 |
| Omega Institute for Holistic Studies Rhinebeck, NY | General Support | $300,000 |
| Wharton Institute for the Performing Arts Berkeley Heights, NJ | General Support | $250,000 |
| The Climate Museum New York, NY | General Support | $200,000 |
| Global Health Corps Inc New York, NY | General Support | $150,000 |
| Path Home Portland, OR | General Support | $140,000 |
Ready to take the next step with Mustang Foundation Inc?
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 | $26,392,632 | $2,003,865 | $6,167,887 | $5,941,000 | 44 | $5,950,000 | $1,897,579 | $1,599,205 |
| 2024 | $30,399,364 | $19,129,206 | $4,257,565 | $4,148,500 | 32 | $4,156,598 | $3,856,986 | — |
| 2023 | $18,987,466 | $727,621 | $1,662,728 | $1,597,000 | 37 | $1,611,500 | $678,393 | $988,293 |
| 2022 | $19,927,081 | $19,928,231 | $1,150 | — | — | — | $50,487 | $40,016 |
Under IRS private-foundation payout rules, Mustang Foundation Inc reported a distributable amount of $1.6M for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2025 grants show support for organizations working in arts and culture, animal welfare, health, housing, and community services. These are the grantees’ stated missions, not the foundation’s: the YMCA of Greater Monmouth County says it serves local communities through programs and services open to all; the Monmouth County SPCA provides animal shelter and care, humane law enforcement, and community information; and Find Your Light Foundation supports arts education, concentrating on underserved communities.
Other 2025 grantees describe work that includes developing young changemakers to transform health systems (Global Health Corps), helping homeless families with children obtain and keep housing (Path Home), providing food, emergency shelter, clothing, and life-skills support (Lunch Break), and rescuing and caring for cats in Newark and surrounding areas (Brick City Kitties Rescue).
Grantmaking
In 2025, the foundation made 44 grants totaling $5,941,000. Grants ranged from $10,000 to $1,300,000, with a median of $50,000. The largest awards included $1,300,000 to Roundabout Theatre Company, $1,000,000 to YMCA of Greater Monmouth County, $625,000 to Monmouth County SPCA, $450,000 to Gentle Giants Draft Horse Rescue, and $350,000 to Find Your Light Foundation. Each of those grants was listed for general support.
Other reported awards included $300,000 to Omega Institute for Holistic Studies, $250,000 to Wharton Institute for the Performing Arts, $200,000 to The Climate Museum, $150,000 to Global Health Corps, $140,000 to Path Home, $100,000 to Lunch Break, and $80,000 to Brick City Kitties Rescue.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Frances Turner as trustee and president; Paul Turner as trustee and vice-president; Karla L Arria-Devoe as trustee and treasurer; and Andrea R Arria-Devoe as trustee and secretary.
Mustang Foundation Inc is led by Frances Turner, Trustee & President on every filing since 2019; none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
Frances Turner
Trustee & President
On filings since 2019
0.2 hrs/week
No compensation reported
Andrea R. Arria-Devoe
Trustee & Secretary
On filings since 2019
0.2 hrs/week
No compensation reported
Karla L. Arria-Devoe
Trustee & Treasurer
On filings since 2019
0.2 hrs/week
No compensation reported
Paul Turner
Trustee & Vice President
On filings since 2019
0.2 hrs/week
No compensation reported
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 Mustang Foundation Inc
How much does Mustang Foundation Inc give each year?
Mustang Foundation Inc gave $5.9M across 44 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $4.1M across 32 grants.
What is Mustang Foundation Inc's typical grant size?
Mustang Foundation Inc's median grant in 2025 was $50,000, and its average grant was $135,023, across 44 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Mustang Foundation Inc that year got $48K on average.
Where does Mustang Foundation Inc give grants?
Mustang Foundation Inc's top state is New York, with 40% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were New Jersey (38%) and California (8%). The most frequent recipient cities were New York, NY (14 grants), Portland, OR (3 grants), Washington, DC (3 grants) and Red Bank, NJ (2 grants).
Does Mustang Foundation Inc give general operating support?
Yes: 100% of Mustang Foundation Inc's 2025 grants with a stated purpose (44 of 44) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Mustang Foundation Inc's largest grantees?
Mustang Foundation Inc's largest 2025 grantees include Roundabout Theater Company ($1,300,000), YMCA of Greater Monmouth County ($1,000,000) and Monmouth County SPCA ($625,000), according to its 2025 IRS Form 990-PF. Together they received 49% of its itemized 2025 grant dollars.
How large is Mustang Foundation Inc?
Mustang Foundation Inc reported $26.4M in total assets on its 2025 IRS Form 990-PF. It paid out $6.0M in qualifying distributions that year, against a required minimum of $1.6M (roughly 5% of its investment assets).
What does Mustang Foundation Inc fund?
No mission statement for the foundation is provided. Its 2025 grants show support for organizations working in arts and culture, animal welfare, health, housing, and community services. See mission & focus areas ↑
How do I apply for a grant from Mustang Foundation Inc?
The foundation states that it 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 Mustang Foundation Inc's EIN?
Mustang Foundation Inc's EIN (Employer Identification Number) is 82-3625985. IRS Form 990 filing data is available on this page for 2019–2025.
Does Mustang 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
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS March 18, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 19, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Mustang Foundation Inc's focus areas in our free grants database
Similar Funders
Funders with grantees in common, and similar funders in New Jersey
The Chicago Community Trust
Chicago, IL
The Chicago Community Trust funds eligible nonprofits working to narrow the wealth gap and meet urgent needs, with priorities including economic mobility, education, jobs, homeownership, and community development in metropolitan Chicago and Cook County. Its 2025 grants had a median of $26,500, though amounts varied widely; the profile does not state whether it accepts unsolicited requests.
Assets
$7.1B
Grants
4,316
Total Given
$1.2B
Silicon Valley Community Foundation
Mountain View, CA
Silicon Valley Community Foundation funds work in areas such as housing, economic security, education, health, the environment, arts and culture, and civic engagement, with Community Action Grants supporting local, community-led organizations in San Mateo and Santa Clara counties. Its 2024 grants had a median of $51,716, though amounts varied widely; applications depend on the program, and SVCF states that it does not accept unsolicited proposals for advised funds.
Assets
$12.3B
Grants
3,576
Total Given
$3.2B
The Robert Wood Johnson Foundation
Princeton, NJ
The Robert Wood Johnson Foundation funds efforts to improve health and health equity in the United States, including systems change addressing structural barriers to health. In 2024, its grants ranged from $125 to $12.15 million, with a median of $40,000. It typically funds through targeted programs and partnerships; whether it accepts unsolicited requests is not stated.
Assets
$13.4B
Grants
3,093
Total Given
$622.6M
Community Foundation of New Jersey
Morristown, NJ
The Community Foundation of New Jersey supports a broad range of causes, including arts, education, health, human services, and the environment, through donor-directed and other charitable funds. Its 2024 itemized grants had a median of $19,759, with awards ranging widely; its current health grant opportunity serves Morris and Somerset counties. Eligible New Jersey nonprofits may apply to specific grant opportunities, subject to each opportunity’s guidelines.
Assets
$1.0B
Grants
1,321
Total Given
$93.8M
Crane Fund for Widows and Children
Englewood Cliffs, NJ
The Crane Fund for Widows and Children supports charitable organizations, including those working in healthcare and social services, children’s services, recreation, and basic needs, with grants across multiple states. Its 2024 grants ranged from $2,000 to $45,000, with a median of $4,500; it funds only preselected organizations and does not accept unsolicited requests.
Assets
$1.6M
Grants
985
Total Given
$4.5M
The Hyde and Watson Foundation
Warren Township, NJ
The Hyde and Watson Foundation funds capital projects in human services, education, health, arts and culture, and the environment. Most awards are $5,000–$20,000, with a 2024 median of $10,000, for eligible nonprofits in New York City and Essex, Morris, and Union counties in New Jersey. It accepts applications through an online portal during its stated application periods; the profile does not say whether it accepts unsolicited requests.
Assets
$88.2M
Grants
611
Total Given
$6.1M
More similar funders
More Funders in New Jersey
Cite this profile
Grantable. (2026). Mustang Foundation Inc funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/mustang-foundation-inc-morg_0e3419d45654448d8bc2cfdfdc58928e
BibTeX
@misc{grantable_823625985_2026,
author = {{Grantable}},
title = {{Mustang Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/mustang-foundation-inc-morg_0e3419d45654448d8bc2cfdfdc58928e},
note = {Accessed 2026-10-14. 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 Mustang Foundation Inc'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.
Mustang Foundation Inc down — hundreds of funders to go?