Penn Quad Foundation
Penn Quad Foundation is a private foundation, based in Waban, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $57K in total assets. Net investment income was $6K.
Penn Quad Foundation at a glance
- Total assets
- $57,384
- +40.2% vs 2023
- Revenue (2024)
- $1,581
- -31.6% vs 2023
- Net investment income (2024)
- $6,312
- +312.0% vs 2023
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
Who Penn Quad Foundation funds
How this funder distributes its grants
Grant Size Distribution
9 grants across all recorded years
The most common grant size was under $50K: 9 grants of 9 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
How Penn Quad Foundation gives
- Giving fell 30% from 2020 to 2023. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2023, annual grant giving ranged from $2K (2023) to $4K (2021). In 2023 it made 1 grant totaling $2K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Pennsylvania Philadelphia, PA | Higher Education | $2,100 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income |
|---|---|---|---|---|---|---|---|
| 2024 | $57,384 | $1,581 | — | — | — | — | $6,312 |
| 2023 | $40,941 | $2,310 | $2,390 | $2,100 | 1 | $290 | $1,532 |
| 2022 | $53,680 | $2,473 | $2,555 | $2,500 | 1 | $2,555 | $918 |
| 2021 | $55,018 | $1,932 | $4,885 | $4,000 | 1 | $4,885 | — |
| 2020 | $74,050 | $7,150 | $3,295 | $3,000 | 6 | — | $5,536 |
Leadership & Key People
Officers and directors from IRS filings
Penn Quad Foundation is led by Thomas Armitage, President on every filing since 2020; none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Thomas Armitage
President
On filings since 2020
0.1 hrs/week
No compensation reported
Frank Rosenacker
Trustee
Director → Trustee, 2022
On filings since 2020
0.1 hrs/week
No compensation reported
Michael Kowalski
Trustee
Treasurer → Trustee, 2022
On filings since 2020
0.1 hrs/week
No compensation reported
Steve Stern
Clerk
Investment Advisor → Clerk, 2021
On filings since 2020
0.3 hrs/week
No compensation reported
Former officers (1)
- Former: Bob Rosenthal (2020) — Clerk
Data from IRS Form 990 filings, 2020–2024. "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 Penn Quad Foundation
How large is Penn Quad Foundation?
Penn Quad Foundation reported $57K in total assets on its 2024 IRS Form 990-PF. Its revenue that year was $2K.
Where does Penn Quad Foundation operate?
Penn Quad Foundation has awarded grants in District of Columbia, Massachusetts, New York, Pennsylvania.
What is Penn Quad Foundation's EIN?
Penn Quad Foundation's EIN (Employer Identification Number) is 41-2275542. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS October 15, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS February 23, 2023)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS September 20, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS October 15, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS July 23, 2025)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Penn Quad Foundation's focus areas in our free grants database
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Penn Quad Foundation down — hundreds of funders to go?