Philip E and Carole R Ratcliffe
The Philip E. & Carole R. Ratcliffe Foundation is a private foundation based in Annapolis, Maryland. It provides grants to colleges, universities, and other nonprofit organizations to prepare workers and entrepreneurs, with an emphasis on job creation and local and regional economies.
Philip E and Carole R Ratcliffe at a glance
In short: Philip E and Carole R Ratcliffe gave $8.7M across 24 grants in 2024 (avg $363K), mostly in Maryland. 52% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $8,710,642
- +9.3% vs 2023
- Grants made (2024)
- 24
- +14.3% vs 2023
- Average grant
- $362,943
- -4.4% vs 2023
- Median grant
- $208,134
- Total assets
- $62,529,008
- -9.0% vs 2023
- New grantees (estimate)
- 52% first-time grantees (12 of 23, 2024; small sample)
- Primary geography
- Maryland (78% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Philip E and Carole R Ratcliffe
- How to Apply
-
The filing lists Carlene M. Cassidy as the contact for requests and calls for a written letter describing the proposed grant’s nature and use, plus a copy of the applicant’s IRS nonprofit determination letter. The website currently says new grant partner applications are not being accepted.
- Review Cycle
- The foundation states that it has no submission deadlines.
- Deadline
- The foundation states that it has no submission deadlines.
- Contact
Application contact: Carlene M Cassidy
Mailing address: 275 West St Suite 109, Annapolis, MD 21401
Phone: (667) 458-7991
Email: cmcassidy@ratcliffefoundation.com
Website: https://ratcliffefoundation.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Philip E and Carole R Ratcliffe funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was YMCA of Queen Anne's County ($3.0M). Together the top 10 received $7.5M.
Grant Size Distribution
123 grants across all recorded years
The most common grant size was in the $100–250K range: 39 grants of 123 (32%).
Geographic Focus
Where this funder awards grants
The foundation identifies Maryland, Virginia, and Delaware as areas of focus. Its 2024 grant dollars went primarily to recipients in Maryland (78%), followed by Virginia (9%), Florida (8%), Massachusetts (3%), and Delaware (2%).
Grant Distribution by State
Share of 2024 grant dollars across all 24 itemized grants.
Cities
Is Philip E and Carole R Ratcliffe open to new grantees?
52%
first-time grantees, 2024
In 2024, 12 of 23 grantees (52%) were first-time recipients. With only 23 grantees, that is a small sample: one grantee more or less moves the share by about 4 points. First grants averaged $218K; repeat grants $554K. How we count
Medians: $139K first-time, $271K repeat.
- 48% of 2024 grantees were also funded in 2023. Method
- Giving grew 24% from 2021 to 2024. Method
- In 2024 it paid out 324% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $6.3M (2020) to $8.7M (2024). In 2024 it made 24 grants totaling $8.7M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| YMCA of Queen Anne's County - 2020 Centerville, MD | Unrestricted Use by Recipient | $3,000,000 |
| Ferry Cove Shellfish - 2024 Sherwood, MD | Unrestricted Use by Recipient | $1,000,000 |
| CCBC - 2024 Baltimore, MD | Unrestricted Use by Recipient | $810,913 |
| Mica Baltimore, MD | Unrestricted Use by Recipient | $441,000 |
| Mountain Gateway CC - 2024 Clifton, VA | Unrestricted Use by Recipient | $400,000 |
| FIU - 2024 Miami, FL | Unrestricted Use by Recipient | $380,000 |
| FIU FL International University Miami, FL | Unrestricted Use by Recipient | $312,500 |
| Aacc Foundation - ESI 2022 Arnold, MD | Unrestricted Use by Recipient | $300,000 |
| Su - 2023 Salisbury, MD | Unrestricted Use by Recipient | $300,000 |
| CCBC - 2022 Baltimore, MD | Unrestricted Use by Recipient | $275,000 |
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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 | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $62,529,008 | $4,995,073 | $11,920,061 | $8,710,642 | 24 | $8,979,480 | $4,693,661 | $2,767,897 |
| 2023 | $68,749,103 | $3,130,105 | $5,311,042 | $7,970,567 | 21 | $8,213,776 | $2,829,354 | $2,851,647 |
| 2022 | $74,551,910 | $2,891,599 | $6,538,165 | $7,334,240 | 28 | $7,437,801 | $2,580,623 | $3,078,531 |
| 2021 | $79,583,237 | $1,732,443 | $5,777,032 | $7,021,324 | 27 | $7,287,002 | $1,362,418 | $3,737,000 |
| 2020 | $89,094,539 | $4,854,757 | $19,225,614 | $6,333,399 | 23 | — | $4,295,604 | $2,802,990 |
Under IRS private-foundation payout rules, Philip E and Carole R Ratcliffe reported a distributable amount of $2.8M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation describes its work as supporting pathways to prosperity through workforce development and entrepreneurship. Its stated interests include skilled-trades training, scholarships, applied learning, mentoring, internships, apprenticeships, and programs that support new ventures. Industries it identifies include construction trades, manufacturing, automotive, allied healthcare, agriculture and aquaculture, and other in-demand regional jobs.
It awards grants to U.S. 501(c)(3) nonprofit organizations, including higher-education institutions. The foundation emphasizes programs connected to local or regional economies and collaboration with community stakeholders.
Among the organizations it supported in 2024 was HEALS Inc. The organization describes its mission as providing school-based health, dental, and optometry care for children in Huntsville and Madison County, Alabama.
Grantmaking
In 2024, the foundation reported 24 grants totaling $8,710,642. Grants ranged from $3,109 to $3,000,000, with a median of $208,134. Its largest reported awards included $3,000,000 to YMCA of Queen Anne’s County, $1,000,000 to Ferry Cove Shellfish, $810,913 to CCBC, and $441,000 to MICA. Other notable awards included $400,000 to Mountain Gateway Community College and $380,000 to FIU.
The foundation’s website says it is not accepting new grant partner applications at this time. Its 2024 filing states that requests should be made by written letter describing the nature and use of the requested grant, accompanied by a copy of the organization’s IRS nonprofit determination letter. It states that it does not limit awards and has no submission deadlines.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists James D. Wright as president and Tina Davenport and James A. Clauson as trustees.
Philip E and Carole R Ratcliffe is led by James D. Wright, President on every filing since 2020; 2 of 3 officers listed in 2024 are compensated.
Officers on the 2024 filing
James D. Wright
President
On filings since 2020
5 hrs/week
$75K (2020) → $75K (2024)
Tina Davenport
Trustee
On filings since 2020
5 hrs/week
$60K (2020) → $60K (2024)
James A. Clauson
Trustee
On filings since 2020
1 hr/week
No compensation reported
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.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $75K, to James D Wright (President). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Philip E and Carole R Ratcliffe
How much does Philip E and Carole R Ratcliffe give each year?
Philip E and Carole R Ratcliffe gave $8.7M across 24 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $8.0M across 21 grants.
What is Philip E and Carole R Ratcliffe's typical grant size?
Philip E and Carole R Ratcliffe's median grant in 2024 was $208,134, and its average grant was $362,943, across 24 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Philip E and Carole R Ratcliffe that year got $218K on average.
Where does Philip E and Carole R Ratcliffe give grants?
Philip E and Carole R Ratcliffe gives mostly in Maryland: 78% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were Virginia (9%) and Florida (8%). The most frequent recipient cities were Baltimore, MD (5 grants), Miami, FL (2 grants), Clifton, VA (2 grants) and Salisbury, MD (2 grants).
Does Philip E and Carole R Ratcliffe give general operating support?
Yes: 100% of Philip E and Carole R Ratcliffe's 2024 grants with a stated purpose (24 of 24) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Philip E and Carole R Ratcliffe's largest grantees?
Philip E and Carole R Ratcliffe's largest 2024 grantees include YMCA of Queen Anne's County ($3,000,000), CCBC ($1,085,913 across 2 grants) and Ferry Cove Shellfish ($1,000,000), according to its 2024 IRS Form 990-PF. Together they received 58% of its itemized 2024 grant dollars.
How large is Philip E and Carole R Ratcliffe?
Philip E and Carole R Ratcliffe reported $62.5M in total assets on its 2024 IRS Form 990-PF. It paid out $9.0M in qualifying distributions that year, against a required minimum of $2.8M (roughly 5% of its investment assets).
What does Philip E and Carole R Ratcliffe fund?
The foundation describes its work as supporting pathways to prosperity through workforce development and entrepreneurship. Its stated interests include skilled-trades training, scholarships, applied learning, mentoring, internships, apprenticeships, and programs that support new ventures. See mission & focus areas ↑
How do I apply for a grant from Philip E and Carole R Ratcliffe?
The filing lists Carlene M. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Philip E and Carole R Ratcliffe's EIN?
Philip E and Carole R Ratcliffe's EIN (Employer Identification Number) is 82-0568453. 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. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Philip E and Carole R Ratcliffe funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/philip-e-and-carole-r-ratcliffe-morg_227a9ba8aca0493bb6cdcbab0bdf5978
BibTeX
@misc{grantable_820568453_2026,
author = {{Grantable}},
title = {{Philip E and Carole R Ratcliffe funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/philip-e-and-carole-r-ratcliffe-morg_227a9ba8aca0493bb6cdcbab0bdf5978},
note = {Accessed 2026-10-12. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Philip E and Carole R Ratcliffe's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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