P&F MC Courtney Foundation
The P&F MC Courtney Foundation is a private foundation established in 1900 and designated as a non-exempt charitable trust under section 4947(a)(1) of the Internal Revenue Code. The foundation is located in Dallas, Texas, with historical administrative ties to Chicago, Illinois. It operates with no direct charitable activities, instead functioning as a grantmaking foundation that distributes funds to educational institutions and other charitable organizations.
Key facts about P&F MC Courtney Foundation
- EIN
- 43-6023586
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $425,000
- Grants made (2024)
- 30
- Average grant
- $14,167
- Median grant
- $10,000
- New grantees (estimate)
- 20% first-time grantees (6 of 30, 2024)
- Primary geography
- Illinois (38% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who P&F MC Courtney Foundation funds
By grant dollars, the top recipient states for P&F MC Courtney Foundation's 30 itemized 2024 grants were Illinois (38%), Indiana (16%) and Wisconsin (8%). The most frequent recipient cities were Peoria, IL (2 grants). None of its 30 grants with a stated purpose were described as general or operating support. Recurring purposes include "Scholarships" (27 grants).
Is P&F MC Courtney Foundation open to new grantees?
20%
first-time grantees, 2024
In 2024, 6 of 30 grantees (20%) were first-time recipients. First grants averaged $14K; repeat grants $14K. How we count
Medians: $15K first-time, $10K repeat.
- 77% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+0%). Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with P&F MC Courtney Foundation
- How to evaluate P&F MC Courtney Foundation as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$425K
-12.4% YoY
Grant Count
30
-14.3% YoY
Avg Grant Size
$14K
+2.2% YoY
Mission & Focus Areas
The foundation's primary focus is on funding scholarships and grants to educational institutions. Its grantmaking aligns with the NTEE classification of Philanthropy, Voluntarism, and Grantmaking Foundations (General).
Grantmaking
The foundation made 26 grants in fiscal year 2024. Recent grants include:
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Geographic Focus
Where this funder awards grants
The foundation has demonstrated support for educational institutions in Illinois and Indiana, including the University of Illinois Urbana-Champaign, Purdue University, and Illinois College.
Grant Distribution by State
Share of all 30 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
Fiscal Year 2024 (ending September 30, 2024):
- Total Assets: $8,098,816
- Total Revenue: $264,054
- Total Expenses: $472,583
- Net Income: -$208,529
- Total Liabilities: $0
Revenue Sources (FY 2024):
- Dividends: $228,141
- Sales of Assets: $35,024
- Other Income: $789
- Contributions Received: $100
Expense Breakdown (FY 2024):
- Charitable Disbursements: $439,528 (93.0% of expenses)
- Compensation of Officers: $31,459 (6.7% of expenses)
The foundation has zero employees and is managed by its trustee.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
150 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include U of Illinois Urbana Champaign ($50,000), Purdue University ($40,000), Illinois College ($25,000).
| Recipient | Purpose | Amount |
|---|---|---|
| U OF ILLINOIS URBANA CHAMPAIGN Urbana, IL | SCHOLARSHIPS | $50,000 |
| PURDUE UNIVERSITY West Lafayette, IN | SCHOLARSHIPS | $40,000 |
| ILLINOIS COLLEGE Jacksonville, IL | SCHOLARSHIPS | $25,000 |
| ILLINOIS WESLEYAN UNIV Bloomington, IL | SCHOLARSHIPS | $20,000 |
| METHODIST COLLEGE OF NURSING Peoria, IL | SCHOLARSHIPS | $15,000 |
| University of Wisconsin Madison Madison, WI | SCHOLARSHIPS | $15,000 |
| NORTH CAROLINE STATE UNIVERSITY Raleigh, NC | SCHOLARSHIPS | $15,000 |
| UNIVERSITY OF KANSAS Lawrence, KS | SCHOLARSHIPS | $15,000 |
| UNIVERSITY OF TENNESSE Knoxville, TN | SCHOLARSHIPS | $15,000 |
| PENN STATE UNIVERSITY Dunmore, PA | SCHOLARSHIP | $15,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Bank of America N.A. serves as Managing Director of the foundation as of January 2025.
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Bank of America | Trustee | 1 | $31,459 |
Frequently Asked Questions
What does P&F MC Courtney Foundation fund?
The foundation's primary focus is on funding scholarships and grants to educational institutions. Its grantmaking aligns with the NTEE classification of Philanthropy, Voluntarism, and Grantmaking Foundations (General).
How do I apply for a grant from P&F MC Courtney Foundation?
The foundation made 26 grants in fiscal year 2024. Recent grants include: • Trustees of Purdue University: $40,000 (Scholarships) • Illinois College: $25,000 (Scholarships) • Bhem Affiliated Institutions Employees Medical Plan Trust: $20,000 (Scholarships) Total charitable disbursements in fiscal year 2024 reached $439,528.
Where does P&F MC Courtney Foundation make grants?
The foundation has demonstrated support for educational institutions in Illinois and Indiana, including the University of Illinois Urbana-Champaign, Purdue University, and Illinois College.
What size grants does P&F MC Courtney Foundation award?
In 2024, P&F MC Courtney Foundation awarded 30 grants totaling $425K — an average of about $14K per grant, based on its IRS Form 990 filings.
What is P&F MC Courtney Foundation's EIN?
P&F MC Courtney Foundation's EIN (Employer Identification Number) is 43-6023586. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.