Mustang Foundation Inc is a private foundation based in Oceanport, New Jersey. The foundation was established in 2018 and operates as a 501(c)(3) tax-exempt organization. It is supported by the Estate of Oscar Davis and is also known as the Frances and Paul Turner Family Foundation and Ward C Laracy.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$30.4M
+60.1% YoY
Annual Giving
$4.1M
+159.8% YoY
Grant Count
32
-13.5% YoY
Avg Grant Size
$130K
+200.4% YoY
Mission & Focus Areas
The foundation's primary funding interests include:
- Philanthropy, Voluntarism & Grantmaking
- Human Services
- Health Care
- Wildlife and animal-related causes
- Dog rescue and animal rescue organizations
- Food pantries and poverty alleviation
Grantmaking
The foundation is an active grantmaker with recent grants including:
Grant Range
s:**
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in New York, Oregon, and New Jersey.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets:
- 2024: $30,399,364
- 2023: $18,987,466
Revenues (2024):
- Total grants and contributions: $15,193,953
- Investment income and dividends: $713,978
- Net gain from sale of non-inventory assets: $3,191,943
- Total revenues: $19,129,206
Expenses (2024):
- Total expenses: $4,257,565
Staffing: The foundation operates with 0 employees.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $30,399,364 | $18,987,466 | $19,927,081 |
| Revenue | $19,129,206 | $727,621 | $19,928,231 |
| Expenses | $4,257,565 | $1,662,728 | $1,150 |
| Qualifying Distributions | $4,156,598 | $1,611,500 | — |
| Net Investment Income | $3,856,986 | $678,393 | $50,487 |
| Distributable Amount | — | $988,293 | $40,016 |
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
69 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Monmouth County Spca ($1,257,500), Roundabout Theater Company ($1,000,000), Find Your Light Foundation ($350,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ADELANTE MUJERRES FOREST GROVE, OR | GENERAL SUPPORT | $25,000 |
| ALLAIRE COMMUNITY FARM WALL TOWNSHIP, NJ | GENERAL SUPPORT | $50,000 |
| BLOOM WHERE PLANTED PASADENA, CA | GENERAL SUPPORT | $20,000 |
| BOOMER ESIASON FOUNDATION GARDEN CITY PARK, NY | GENERAL SUPPORT | $50,000 |
| BRADLEY ANGLE PORTLAND, OR | GENERAL SUPPORT | $25,000 |
| CITTA NEW YORK, NY | GENERAL SUPPORT | $10,000 |
| COALITION FOR THE HOMELESS NEW YORK, NY | GENERAL SUPPORT | $25,000 |
| GENTLE GIANTS DRAFT HORSE RESCUE MT AIRY, MD | GENERAL SUPPORT | $200,000 |
| GROW NYC NEW YORK, NY | GENERAL SUPPORT | $25,000 |
| LUNCH BREAK RED BANK, NJ | GENERAL SUPPORT | $100,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| FRANCES TURNER | TRUSTEE AND PRESIDENT | 0.2 | — |
| PAUL TURNER | TRUSTEE AND VICE-PRESIDENT | 0.2 | — |
| KARLA L ARRIA-DEVOE | TRUSTEE AND TREASURER | 0.2 | — |
| ANDREA R ARRIA-DEVOE | TRUSTEE AND SECRETARY | 0.2 | — |
Contact Information
Address: 5 Blackberry Bay Drive, Oceanport, NJ 07757-1401
Telephone: 732-963-9145
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Mustang Foundation Inc fund?
The foundation's primary funding interests include: • Philanthropy, Voluntarism & Grantmaking • Human Services • Health Care • Wildlife and animal-related causes • Dog rescue and animal rescue organizations • Food pantries and poverty alleviation
How do I apply for a grant from Mustang Foundation Inc?
**Grant Activity:** The foundation is an active grantmaker with recent grants including: • Monmouth County SPCA: $1,257,500 (2024) • Roundabout Theatre Company: $1,000,000 (2024) • Find Your Light Foundation: $350,000 (2024) Additional grants totaling approximately $3.9 million were distributed in 2024 across 25 grants total. **Grant Sizes:** Typical award amounts range from $1,000 to $1,257,500. **Total Giving:** • 2024: $4,148,500 • 2023: $1,627,000
Where does Mustang Foundation Inc make grants?
The foundation primarily funds organizations in New York, Oregon, and New Jersey.
What size grants does Mustang Foundation Inc award?
In 2024, Mustang Foundation Inc awarded 32 grants totaling $4.1M — an average of about $130K per grant, based on its IRS Form 990 filings.
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 2020–2024.
Explore Open Grants
Browse active grant opportunities in Mustang Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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