Nareit Foundation
Nareit Foundation is a public charity based in Washington, DC, formed in 2003. It makes grants to charitable, educational, and other organizations recognized as exempt under Section 501(c)(3) of the Internal Revenue Code, and supports social responsibility and education related to the real estate investment trust industry.
Nareit Foundation at a glance
In short: Nareit Foundation gave $1.4M across 18 grants in 2025 (avg $80K), top state Georgia. 67% of 2025 grantees were new. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $1,444,050
- +61.3% vs 2024
- Grants made (2025)
- 18
- +0.0% vs 2024
- Average grant
- $80,225
- +61.3% vs 2024
- Median grant
- $90,000
- Total assets
- $1,396,106
- -39.4% vs 2024
- New grantees (estimate)
- 67% first-time grantees (12 of 18, 2025; small sample)
- Primary geography
- Georgia (24% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Nareit Foundation
- Contact
Mailing address: 1875 I Street Nw 500, Washington, DC 20006-5413
Phone: (202) 739-9400
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Nareit Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Morehouse College Inc ($250K). Together the top 10 received $1.2M.
Grant Size Distribution
72 grants across all recorded years
The most common grant size was under $50K: 31 grants of 72 (43%).
Geographic Focus
Where this funder awards grants
The reported 2025 grant dollars were distributed among recipients in Georgia (24%), Hawaii (23%), Washington, DC (21%), New York (21%), and California (7%).
Grant Distribution by State
Share of 2025 grant dollars across all 18 itemized grants.
Cities
Is Nareit Foundation open to new grantees?
67%
first-time grantees, 2025
In 2025, 12 of 18 grantees (67%) were first-time recipients. With only 18 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. First grants averaged $97K; repeat grants $47K. How we count
Medians: $100K first-time, $23K repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2020–2025). 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 2020 to 2025, annual grant giving ranged from $305K (2020) to $1.4M (2025). In 2025 it made 18 grants totaling $1.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Morehouse College Inc Atlanta, GA | Charitable Grant | $250,000 |
| Kunia Village Development Corporation Honolulu, HI | Charitable Grant | $127,000 |
| Coalition for Nonprofit Housing and Economic Development Washington, DC | Charitable Grant | $125,000 |
| Building Markets Ltd Brooklyn, NY | Charitable Grant | $100,000 |
| NAF New York, NY | Charitable Grant | $100,000 |
| Paradigm for Parity Inc New York, NY | Charitable Grant | $100,000 |
| Project Destined Washington, DC | Charitable Grant | $100,000 |
| Robert a Toigo Foundation Oakland, CA | Charitable Grant | $100,000 |
| The Empify Foundation Inc Atlanta, GA | Charitable Grant | $100,000 |
| Project Vision Hawaii Honolulu, HI | Charitable Grant | $80,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $1,396,106 | $567,686 | $1,473,547 | $1,444,050 | 18 | $30,186 |
| 2024 | $2,301,967 | $290,348 | $910,825 | $895,000 | 18 | $80,348 |
| 2023 | $2,922,444 | $935,929 | $901,246 | $885,000 | 16 | $88,305 |
| 2022 | $2,887,761 | $3,023,152 | $496,328 | $482,548 | 10 | $8,152 |
| 2021 | $360,937 | $687,662 | $628,955 | $615,000 | 10 | $162 |
| 2020 | $373,230 | $311,716 | $330,926 | $305,000 | 5 | $216 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation’s stated mission is to make grants to qualifying organizations, promote and advance social responsibility in the real estate investment trust industry, and sponsor educational conferences or publish educational materials about legal, accounting, and regulatory matters concerning real estate investment trusts. Its filing describes its program as contributions to unrelated organizations recognized by the IRS as charitable under Section 501(c)(3).
Its 2025 grantees include organizations with varied missions. For example, Kunia Village Development Corporation says it provides low-income rental housing for agricultural workers; Project Destined says it trains scholars through evaluation of real estate investments and creates networking opportunities with local companies and executives; and NAF says it brings education, business, and community leaders together to transform the high school experience. These are the grantees’ descriptions of their own work.
Grantmaking
In filing year 2025, the foundation reported 18 grants totaling $1,444,050. Grants ranged from $14,200 to $250,000, with a median grant of $90,000. Its largest reported grants included $250,000 to Morehouse College Inc.; $127,000 to Kunia Village Development Corporation; and $125,000 to the Coalition for Nonprofit Housing and Economic Development. Other grants of $100,000 went to Building Markets Ltd, NAF, Paradigm for Parity Inc, Project Destined, Robert A Toigo Foundation, and The Empify Foundation Inc.
The foundation says it makes charitable grants exclusively to 501(c)(3) organizations. Its pre-award due diligence includes reviewing each grantee’s Form 990 and maintaining records of grant amounts and recipient eligibility. Post-award oversight varies by grant and may include communication with grantees, review of reports where applicable, and other check-ins based on the funding’s nature and purpose.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Steven Wechsler as president; Catherine Barre as treasurer and secretary; Leslie D Hale as chair; and Thomas J Baltimore Jr, Conor C Flynn, W Matthew Kelly, Lisa Palmer, Mark J Parrell, James F Risoleo, and Sumit Roy as board members.
Nareit Foundation is led by Steven Wechsler, President on every filing since 2020; none of the 12 officers listed in 2025 report compensation.
Officers on the 2025 filing
Steven Wechsler
President
On filings since 2020
No compensation reported
Leslie D. Hale
Chair & Board Member
Chair → Chair & Board Member, 2025
On filings since 2024
No compensation reported
Benjamin W. Schall
Chair
New on the 2025 filing
No compensation reported
Catherine Barre
Treasurer & Secretary
On filings since 2020
1 hr/week
No compensation reported
James F. Risoleo
Board Member
Chair → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Lisa Palmer
Board Member
Chair → Board Member, 2022
On filings since 2020
No compensation reported
W. Matthew Kelly
Board Member
Chair → Chair & Board Member, 2022
Chair & Board Member → Board Member, 2023
On filings since 2021
No compensation reported
Conor C. Flynn
Board Member
On filings since 2022
No compensation reported
Sumit Roy
Board Member
Chair & Board Member → Board Member, 2024
On filings since 2022
No compensation reported
Mark J. Parrell
Board Member
Chair → Chair & Board Member, 2024
Chair & Board Member → Board Member, 2025
On filings since 2023
No compensation reported
Steven Vondran
Board Member
On filings since 2024
No compensation reported
Thomas J. Baltimore Jr.
Board Member
On filings since 2024
1 hr/week
No compensation reported
Former officers (6)
- Former: Donald C. Wood (2022–2024) — Board Member
- Former: Marguerite M. Nader (2022–2024) — Board Member
- Former: Thomas A. Bartlett (2022–2024) — Board Member
- Former: Tony Edwards (2022–2023) — Former Treasurer & Secretary
- Former: A. William Stein (2022) — Board Member
- Former: James B. Connor (2022) — Board Member
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.
Frequently asked questions about Nareit Foundation
How much does Nareit Foundation give each year?
Nareit Foundation gave $1.4M across 18 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $895K across 18 grants.
What is Nareit Foundation's typical grant size?
Nareit Foundation's median grant in 2025 was $90,000, and its average grant was $80,225, across 18 grants on its 2025 IRS Form 990. Organizations receiving their first grant from Nareit Foundation that year got $97K on average.
Where does Nareit Foundation give grants?
Nareit Foundation's top state is Georgia, with 24% of the grant dollars itemized on its 2025 IRS Form 990. The next largest states were Hawaii (23%) and District of Columbia (21%). The most frequent recipient cities were Washington, DC (6 grants), Honolulu, HI (3 grants), Atlanta, GA (2 grants) and New York, NY (2 grants).
Does Nareit Foundation give general operating support?
Occasionally: 6% of Nareit Foundation's 2025 grants with a stated purpose (1 of 18) were for general or operating support, per its 2025 IRS Form 990. Recurring purposes include "Charitable Grant" (14 grants).
Who are Nareit Foundation's largest grantees?
Nareit Foundation's largest 2025 grantees include Morehouse College Inc ($250,000), Kunia Village Development Corporation ($127,000) and Coalition for Nonprofit Housing and Economic Development ($125,000), according to its 2025 IRS Form 990. Together they received 35% of its itemized 2025 grant dollars.
How large is Nareit Foundation?
Nareit Foundation reported $1.4M in total assets on its 2025 IRS Form 990. Its revenue that year was $568K.
What does Nareit Foundation fund?
The foundation’s stated mission is to make grants to qualifying organizations, promote and advance social responsibility in the real estate investment trust industry, and sponsor educational conferences or publish educational materials about legal, accounting, and regulatory matters concerning real estate investment trusts. See mission & focus areas ↑
How do I apply for a grant from Nareit Foundation?
Nareit Foundation has no public application process in the sources Grantable reviewed. Contact the foundation directly before submitting a request.
What is Nareit Foundation's EIN?
Nareit Foundation's EIN (Employer Identification Number) is 20-0455984. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS May 16, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS September 14, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 13, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Nareit Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Nareit Foundation funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/nareit-foundation-morg_ba37570f8931420793c63bc4b1be1090
BibTeX
@misc{grantable_200455984_2026,
author = {{Grantable}},
title = {{Nareit Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/nareit-foundation-morg_ba37570f8931420793c63bc4b1be1090},
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 Nareit Foundation'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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