Penner Family Foundation Inc
The Penner Family Foundation Inc is a private grantmaking foundation located in Bentonville, Arkansas. Established in 2015, it is a 501(c)(3) organization that has grown into a significant philanthropic entity with substantial financial resources. The foundation does not maintain a public website and operates with limited public disclosure of its specific funding priorities.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$97.3M
-18.1% YoY
Annual Giving
$31.3M
+8.5% YoY
Grant Count
82
+6.5% YoY
Avg Grant Size
$382K
+1.9% YoY
Under IRS private-foundation payout rules, Penner Family Foundation Inc reported a distributable amount of $6.5M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation supports a diverse range of causes without a formally specified focus area. However, recent grantmaking activity indicates support for higher education and education-related initiatives, as evidenced by major grants to universities and educational organizations.
Grantmaking
The foundation does not accept unsolicited applications and operates on an invite-only basis.
Grant Range
$1,000 to $9,000,000
Average Grant
Varies by year
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Geographic Focus
Where this funder awards grants
The foundation funds organizations across multiple states, including California, Colorado, New York, Texas, Florida, Georgia, Hawaii, Illinois, Massachusetts, Montana, New Hampshire, New Jersey, Rhode Island, Washington, and Wisconsin. It has supported both major urban centers and smaller communities.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets:
- $97,278,509 (as of December 2024)
- $118.7 million to $144.8 million (varies by reporting source and fiscal year)
Annual Activity:
- Total giving (2024): $31,313,738
- Total expenses (2024): $32,329,858
- Revenue (2024): $10,886,348
- Giving rate: Approximately 22.6% of assets
Tax Status:
- Tax-exempt since January 2017
- EIN: 81-0831228
- Form 990-PF filer
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $97,278,509 | $118,722,019 | $144,796,399 |
| Revenue | $10,886,348 | $3,892,554 | $15,459,133 |
| Expenses | $32,329,858 | $29,966,934 | $16,770,556 |
| Qualifying Distributions | $31,657,575 | $29,005,368 | $15,702,720 |
| Net Investment Income | $10,214,119 | $3,956,177 | $14,515,842 |
| Distributable Amount | $6,505,918 | $7,344,840 | $7,302,246 |
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
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Brown University ($9,000,000), KIPP Foundation ($5,000,000), Brown University ($2,000,000).
| Recipient | Purpose | Amount |
|---|---|---|
| African American Community Service Agency San Jose, CA | Community Development - General Operating Support | $50,000 |
| Aspen Center for Environmental Studies Aspen, CO | Environment - General Operating Support | $25,000 |
| Aspen Country Day School Inc Aspen, CO | Education - General Operating Support | $25,000 |
| Aspen Journalism Aspen, CO | Environment - General Operating Support | $5,000 |
| Aspen Public Radio Aspen, CO | Community Development - General Operating Support | $10,000 |
| Born This Way Foundation New York, NY | Community Development - General Operating Support | $600,000 |
| Brown University Providence, RI | Brown Undergraduate Internship and Research Fund | $2,000,000 |
| Brown University Providence, RI | Van Wickle Scholarship Fund | $2,000,000 |
| Brown University Providence, RI | Turf Field House | $9,000,000 |
| Brown University Providence, RI | 2024 Annual Grant/September - Undergraduate Annual Fund | $50,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Carrie W Penner – Director, President
- Gregory B Penner – Director, Vice President, Secretary, Treasurer
- Erron Smith – Assistant Secretary
- Luke Mitchell – Assistant Treasurer (as of December 15, 2023)
- Robert A Smith – Assistant Treasurer (until December 15, 2023)
Compensation Overview
From 2024 IRS filing
No officer/director data available.
Recent News & Activity
Recent developments and announcements
The foundation has made significant commitments to higher education institutions in recent years, including major pledges to Brown University, Stanford University, Georgetown University, and Howard University. The foundation's grantmaking demonstrates a focus on educational access, athletic facilities, and educational leadership programs.
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Penner Family Foundation Inc fund?
The foundation supports a diverse range of causes without a formally specified focus area. However, recent grantmaking activity indicates support for higher education and education-related initiatives, as evidenced by major grants to universities and educational organizations.
How do I apply for a grant from Penner Family Foundation Inc?
**Grant Activity & Amounts:** • Total annual giving: Approximately $26.9 million to $31.3 million (varies by fiscal year) • Number of grants: 52-77 grants annually • Grant range: $1,000 to $9,000,000 • Median grant size: $23,000-$25,000 • Average grant size: Varies by year **Recent Notable Grants:** • Brown University: $9,000,000 (Turf Field House) • Knowledge is Power Program (KIPP): $5,000,000 (Community Development - 2025 Campaign and Leadership Priorities) • Stanford University: $4,000,000 …
Where does Penner Family Foundation Inc make grants?
The foundation funds organizations across multiple states, including California, Colorado, New York, Texas, Florida, Georgia, Hawaii, Illinois, Massachusetts, Montana, New Hampshire, New Jersey, Rhode Island, Washington, and Wisconsin. It has supported both major urban centers and smaller communities.
What size grants does Penner Family Foundation Inc award?
In 2024, Penner Family Foundation Inc awarded 82 grants totaling $31.3M — an average of about $382K per grant, based on its IRS Form 990 filings.
How much is Penner Family Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Penner Family Foundation Inc reported a distributable amount of $6.5M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Penner Family Foundation Inc's EIN?
Penner Family Foundation Inc's EIN (Employer Identification Number) is 81-0831228. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Penner Family 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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