The Peggy and Steve Fossett Foundation is a private foundation based in Chicago, Illinois (with operations in Homer Glen, IL). Established in 2007, it operates as a 501(c)(3) tax-exempt organization classified under Science and Technology Research Institutes and Marine Science and Oceanography.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$21.4M
+1.0% YoY
Annual Giving
$1.4M
+12.7% YoY
Grant Count
55
+12.2% YoY
Avg Grant Size
$26K
+0.4% YoY
Under IRS private-foundation payout rules, Peggy and Steve Fossett Foundation reported a distributable amount of $1.4M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's stated purpose is to invest contributions in securities and interest-bearing accounts while programs are being developed by the foundation's directors. Primary funding areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
Grantmaking
The foundation made an additional 32 grants totaling $922,900 in 2024.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Illinois, Missouri, and New York.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $21,365,698
- Total Revenue: $1,993,945
- Total Expenses: $1,772,406
- Total Liabilities: $0
- Number of Employees: 1
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $21,365,698 | $21,144,159 | $21,498,313 |
| Revenue | $1,993,945 | $1,242,748 | $951,751 |
| Expenses | $1,772,406 | $1,596,902 | $1,573,092 |
| Qualifying Distributions | $1,421,300 | $1,261,180 | $1,242,500 |
| Net Investment Income | $1,742,160 | $1,002,933 | $621,159 |
| Distributable Amount | $1,411,676 | $1,261,875 | $1,264,491 |
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
210 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include The Ark ($138,100), Adler Planetarium ($100,000), Chicago Area Council Bsa ($100,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ADLER PLANETARIUM CHICAGO, IL | FAR HORIZONS PROGRAM | $100,000 |
| AERO CLUB OF NORTHERN CALIFORNIA SAN JOSE, CA | YOUTH PROGRAMS AND COUNSELORS | $2,500 |
| AMERICAN FRIENDS OF SHALVA NEW YORK, NY | GENERAL PURPOSE | $50,000 |
| BRENTWOOD HIGH SCHOOL ALUMNI ASSOCIATION BRENTWOOD, MO | COLLEGE SCHOLARSHIPS | $25,000 |
| BROTHER RICE HIGH SCHOOL CHICAGO, IL | GENERAL PURPOSE | $15,000 |
| CASA LAKE COUNTY VERNON HILLS, IL | GENERAL PURPOSEGENERAL OPERATIONS | $40,000 |
| CHICAGO AREA COUNCIL BSA CHICAGO, IL | GENERAL PURPOSE | $100,000 |
| CHICAGO CHESED FUND LINCOLNWOOD, IL | GENERAL PURPOSE | $22,000 |
| CHICAGOLAND TOYS FOR TOTS CHICAGO, IL | GENERAL PURPOSE | $20,000 |
| CHILDRENS MIRACLE NETWORK HOSPITALS ST LOUIS, MO | GENERAL PURPOSE | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DAVID MAIER | PRESIDENT/SECRETARY/TREASU | 40 | $154,000 |
| ABRAHAM J STERN | CHAIRMAN/DIRECTOR | 1 | — |
| STEVEN BLONDER | DIRECTOR | 1 | — |
| ROXANNE SULLIVAN | DIRECTOR | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation has supported significant aviation-related projects, including a $1 million challenge grant to the Salina Aviation Museum project.
Salina Air Museum Receives Million Dollar GrantSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Peggy and Steve Fossett Foundation fund?
The foundation's stated purpose is to invest contributions in securities and interest-bearing accounts while programs are being developed by the foundation's directors. Primary funding areas include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services
How do I apply for a grant from Peggy and Steve Fossett Foundation?
**Grant Activity:** • Made 35 grants in 2024 • Total giving: $1,421,300 (2024) • Typical award range: $2,200–$190,000 **Recent Grants (2024):** • The Ark: $138,100 (General Purpose) • The Adler Planetarium: $100,000 (Far Horizons Program) • Museum of Flight: $100,000 (Flight Zone - Youth Area) The foundation made an additional 32 grants totaling $922,900 in 2024.
Where does Peggy and Steve Fossett Foundation make grants?
The foundation primarily funds organizations in Illinois, Missouri, and New York.
What size grants does Peggy and Steve Fossett Foundation award?
In 2024, Peggy and Steve Fossett Foundation awarded 55 grants totaling $1.4M — an average of about $26K per grant, based on its IRS Form 990 filings.
How much is Peggy and Steve Fossett Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Peggy and Steve Fossett Foundation reported a distributable amount of $1.4M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Peggy and Steve Fossett Foundation's EIN?
Peggy and Steve Fossett Foundation's EIN (Employer Identification Number) is 20-4521801. IRS Form 990 filing data is available on this page for 2020–2024.
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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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