Penske Foundation Inc is a private family foundation established in March 2012 and based in Bloomfield Hills, Michigan. The foundation serves as a vehicle for the philanthropic giving of Roger S. Penske, the legendary business leader and motorsports executive, and his wife Kathryn H. Penske. Operating as a non-operating foundation, it focuses on supporting preselected charitable organizations rather than accepting unsolicited funding requests.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$215.2M
+85.5% YoY
Annual Giving
$9.5M
+289.7% YoY
Grant Count
18
+80.0% YoY
Avg Grant Size
$526K
+116.5% YoY
Mission & Focus Areas
The foundation does not maintain a publicly stated mission statement. However, its funding priorities center on:
- Healthcare
- Education
- Arts and culture
- Human services
The foundation maintains a strong commitment to the Detroit metropolitan area and Michigan, reflecting Roger Penske's decades-long dedication to revitalizing the Motor City.
Grantmaking
The foundation operates on an invitation-only basis and explicitly does not accept unsolicited funding requests. Decision timelines are not publicly disclosed.
Grant Range
$10,000 - $1,000,000
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Michigan, with particular emphasis on the Detroit metropolitan area. It also maintains a national reach with funding activity in Minnesota, Indiana, Virginia, North Carolina, New York, Massachusetts, and the District of Columbia.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets:
- 2024: $215.2 million
- 2023: $116.0 million
- 2022: $17.0 million
- 2013: $2.2 million
Annual Activity (2023):
- Total revenues: $101,468,070
- Total contributions received: $100,944,884
- Investment income and dividends: $523,186
- Total expenses: $2,435,497
- Giving rate: 2.1% of assets
Historical Giving:
- 2023: $2.4 million (10 grants)
- 2022: $2.7 million (16 grants)
- 2020: $1.4 million
The foundation has experienced significant asset growth, with contributions increasing from $10.1 million in 2022 to $100.9 million in 2023.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $215,204,663 | $116,040,672 | $17,008,099 |
| Revenue | $108,666,194 | $101,468,070 | $10,243,924 |
| Expenses | $9,502,203 | $2,435,497 | $2,674,470 |
| Qualifying Distributions | $9,474,325 | $2,432,525 | $2,672,025 |
| Net Investment Income | $5,916,194 | $523,186 | $143,924 |
| Distributable Amount | $9,821,609 | $1,265,135 | $603,278 |
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
71 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Officers and Trustees:
- Kathryn H. Penske — President
- Lawrence N. Bluth — Secretary
- Angela Broaddus — Treasurer
- Roger S. Penske Jr. — Director
- Gregory W. Penske — Director
- Mark H. Penske — Director
- Jay C. Penske — Director
- Blair Penske Hall — Director
All officers and trustees serve one hour per week with no compensation.
Principal Officer:
- Mary Lou Pernicano
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| KATHRYN H PENSKE | PRESIDENT | 1 | — |
| LAWRENCE N BLUTH | SECRETARY | 1 | — |
| ANGELA BROADDUS | TREASURER | 1 | — |
| ROGER S PENSKE JR | DIRECTOR | 1 | — |
| GREGORY W PENSKE | DIRECTOR | 1 | — |
| MARK H PENSKE | DIRECTOR | 1 | — |
| JAY C PENSKE | DIRECTOR | 1 | — |
| BLAIR PENSKE HALL | DIRECTOR | 1 | — |
Recent News & Activity
Recent developments and announcements
The Penske Automotive Group, affiliated with the foundation's leadership, announced a $1.13 million donation to Paralyzed Veterans of America, bringing cumulative contributions to that organization to over $10 million.
Paralyzed Veterans of America receives $1.13 million donation from PenskeThe foundation has supported cultural institutions including the Detroit Symphony Orchestra and the Detroit Institute of Arts, as well as major healthcare providers including Henry Ford Health and Mayo Clinic.
Subject Areas
Focus areas based on grantmaking activity
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Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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