Philip E and Carole R Ratcliffe
The Philip E. & Carole R. Ratcliffe Foundation, Inc. is a private charitable foundation based in Annapolis, Maryland. Established in 2003, the foundation operates as a 501(c)(3) organization dedicated to supporting educational institutions and non-profit organizations that prepare the next generation of workers and entrepreneurs.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$62.5M
-9.0% YoY
Annual Giving
$8.7M
+9.3% YoY
Grant Count
24
+14.3% YoY
Avg Grant Size
$363K
-4.4% YoY
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.
Mission & Focus Areas
The foundation's mission centers on strengthening communities through education and entrepreneurship. The organization provides grants to colleges, universities, and non-profit organizations working to prepare students and workers with a focus on job creation and entrepreneurship to support local and regional economies.
Primary funding areas include:
- Scholarships
- Skilled trades training
- Applied learning opportunities
- Mentoring programs
- Apprenticeships
- Workforce development initiatives
The foundation emphasizes bridging communities through workforce development and cultivating collaborative learning environments that encourage students and faculty to work together, share best practices, and build networking opportunities.
Grantmaking
Typical awards range from $3,109 to $3,000,000.
Grant Range
**
Ready to take the next step with Philip E and Carole R Ratcliffe?
Geographic Focus
Where this funder awards grants
The foundation's grantmaking focuses primarily on:
- Maryland
- Virginia
- Delaware
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total assets: $62,529,008
- Total revenues: $4,995,073
- Total expenses: $11,920,061
- Investment income and dividends: $1,577,291
- Net gain from sale of non-inventory assets: $3,382,368
- Tax-exempt interest income: $96,138
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $62,529,008 | $68,749,103 | $74,551,910 |
| Revenue | $4,995,073 | $3,130,105 | $2,891,599 |
| Expenses | $11,920,061 | $5,311,042 | $6,538,165 |
| Qualifying Distributions | $8,979,480 | $8,213,776 | $7,437,801 |
| Net Investment Income | $4,693,661 | $2,829,354 | $2,580,623 |
| Distributable Amount | $2,767,897 | $2,851,647 | $3,078,531 |
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
123 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Ymca of Queen Anne's County - 2020 ($3,000,000), Ferry Cove Shellfish - 2024 ($1,000,000), Ccbc - 2024 ($810,913).
| Recipient | Purpose | Amount |
|---|---|---|
| AACC FOUNDATION - ESI 2022 ARNOLD, MD | UNRESTRICTED USE BY RECIPIENT | $300,000 |
| CCBC - 2022 BALTIMORE, MD | UNRESTRICTED USE BY RECIPIENT | $275,000 |
| CCBC - 2024 BALTIMORE, MD | UNRESTRICTED USE BY RECIPIENT | $810,913 |
| CHILDREN'S HOME 2024 CENTREVILLE, MD | UNRESTRICTED USE BY RECIPIENT | $70,000 |
| FIU - 2024 MIAMI, FL | UNRESTRICTED USE BY RECIPIENT | $380,000 |
| FIU FL INTERNATIONAL UNIVERSITY MIAMI, FL | UNRESTRICTED USE BY RECIPIENT | $312,500 |
| HAGERSTOWN CC - 2024 BEL AIR, MD | UNRESTRICTED USE BY RECIPIENT | $53,526 |
| HORIZONS OF KENT & QUEEN - 2023 CHESTERTOWN, MD | UNRESTRICTED USE BY RECIPIENT | $50,000 |
| IMET REEF - 2023 BALTIMORE, MD | UNRESTRICTED USE BY RECIPIENT | $270,656 |
| MICA BALTIMORE, MD | UNRESTRICTED USE BY RECIPIENT | $441,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Carlene M Cassidy - Chief Executive Officer
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JAMES D WRIGHT | PRESIDENT | 5 | $75,000 |
| TINA DAVENPORT | TRUSTEE | 5 | $60,000 |
| JAMES A CLAUSON | TRUSTEE | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation has maintained active grant partnerships with regional educational institutions. Notable recent grants include support for Salisbury University's Shore Hatchery Entrepreneurship Program, which received a $900,000 grant to continue operations through 2026. The foundation also announced new grants to Anne Arundel Community College Foundation in 2025, continuing its commitment to workforce development and entrepreneurship education in the region.
Philip E. and Carole R. Ratcliffe Foundation Announces New Grant by AACCSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Philip E and Carole R Ratcliffe fund?
The foundation's mission centers on strengthening communities through education and entrepreneurship. The organization provides grants to colleges, universities, and non-profit organizations working to prepare students and workers with a focus on job creation and entrepreneurship to support local and regional economies. **Primary funding areas include:** • Scholarships • Skilled trades training • Applied learning opportunities • Mentoring programs • Apprenticeships • Workforce development initi…
How do I apply for a grant from Philip E and Carole R Ratcliffe?
**Grant Activity (2024):** • Total giving: $8,710,642 • Number of grants: 12 grants totaling $112,000 to Anne Arundel Community College Foundation Inc. • Recent grants include $441,000 to Mica Group and $3,109 to Heals **Grant Range:** Typical awards range from $3,109 to $3,000,000. **Grant Partners:** Grant partners include community colleges, universities, and other non-profits providing scholarships, skilled trades training, applied learning opportunities, mentoring, and apprenticeships. Gra…
Where does Philip E and Carole R Ratcliffe make grants?
The foundation's grantmaking focuses primarily on: • Maryland • Virginia • Delaware
What size grants does Philip E and Carole R Ratcliffe award?
In 2024, Philip E and Carole R Ratcliffe awarded 24 grants totaling $8.7M — an average of about $363K per grant, based on its IRS Form 990 filings.
How much is Philip E and Carole R Ratcliffe required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Philip E and Carole R Ratcliffe reported a distributable amount of $2.8M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
Explore Open Grants
Browse active grant opportunities in Philip E and Carole R Ratcliffe's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
The Abell Foundation Inc
BALTIMORE, MD
Assets
$296.4M
Grants
391
Total Given
$13.4M
Rotary Club of Columbia Patuxent
COLUMBIA, MD
Assets
$376K
Grants
1
Total Given
$12K
American Federation for Children Growth
COLUMBIA, MD
Assets
$9.4M
Grants
11
Total Given
$2.4M
Mayfield Scholastic Ltd
BALTIMORE, MD
Assets
—
Grants
1
Total Given
$38K
Baltimore Curriculum Project Inc
BALTIMORE, MD
Assets
$17.3M
Grants
6
Total Given
$2.7M
Government Employees' Benefit
HANOVER, MD
Assets
$3K
Grants
43
Total Given
$108K
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Philip E and Carole R Ratcliffe on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching Philip E and Carole R Ratcliffe to a real strategy.