Popular Foundation Inc
Popular Foundation Inc is a private foundation based in New York, NY, and the philanthropic arm of Popular Bank. Founded in 2004, it seeks to strengthen the social and economic well-being of the communities where Popular Bank operates. The Foundation reports that it has awarded more than $6.5 million to community organizations in the bank’s U.S. service regions.
Popular Foundation Inc at a glance
In short: Popular Foundation Inc gave $446K across 44 grants in 2024 (avg $10K), mostly in New York. 42% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $446,353
- -1.4% vs 2023
- Grants made (2024)
- 44
- +41.9% vs 2023
- Average grant
- $10,144
- -30.6% vs 2023
- Median grant
- $10,000
- Total assets
- $4,486,015
- +14.5% vs 2023
- New grantees (estimate)
- 42% first-time grantees (18 of 43, 2024)
- Primary geography
- New York (55% 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 Popular Foundation Inc
- How to Apply
-
Submit a formal grant request. Requests for individual grants are not eligible. The Foundation does not restrict giving to preselected organizations.
- Contact
Application contact: Beatriz Polhamus
Mailing address: 85 Broad Street 10Th Floor, New York, NY 10004
Phone: (787) 765-9800
Website: https://popularbank.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Popular Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Thelma Gibson Health Initiative ($31K). Together the top 10 received $175K.
Organizations only. It also paid 2 grants to individuals ($55,000), which are not listed by name.
Grant Size Distribution
156 grants across all recorded years
The most common grant size was under $50K: 148 grants of 156 (95%).
Geographic Focus
Where this funder awards grants
The 2024 grant dollars went primarily to organizations in New York (55%) and Florida (27%), followed by New Jersey (9%), Minnesota (5%), and Illinois (3%). The Foundation describes its work as serving Popular Bank’s U.S. service regions.
Grant Distribution by State
Share of 2024 grant dollars across all 44 itemized grants.
States
Cities
Is Popular Foundation Inc open to new grantees?
42%
first-time grantees, 2024
In 2024, 18 of 43 grantees (42%) were first-time recipients. First grants averaged $5K; repeat grants $14K. How we count
Medians: $5K first-time, $10K repeat.
- 56% of 2024 grantees were also funded in 2023. Method
- Giving grew 33% from 2021 to 2024. Method
- In 2024 it paid out 283% 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 $336K (2021) to $1.2M (2020). In 2024 it made 44 grants totaling $446K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Thelma Gibson Health Initiative Miami, FL | From Home Isolation to Community Integration Seniors Program provides counseling, social service support, and substance use services to seniors (55+) residing in both public housing and the community at large. | $31,000 |
| 2 grants to individuals Recipients not named | — | $55,000 |
| Junior Achievement Miami North Miami Florida, FL | JA in a Day is a unique Junior Achievement program designed to foster collaboration between accomplished business volunteers and elementary schools. | $25,000 |
| Creo College Preparatory Charter School Bronx, NY | College Access for All grant funds are used to bring all 8th graders to an out-of-state college visit and to stay on campus overnight. | $20,000 |
| Resolution Project Inc New York City, NY | Resolution Fellowship ensures young people have pathways to become community leaders. | $20,000 |
| Chapman Partnership Inc Miami, FL | Housing Opportunities and Professional Enrichment (HOPE) is Chapman Partnership's frontline effort at enabling and equipping unemployed or underemployed individuals experiencing homelessness, primarily Hispanic/Latino and Black, Indigenous and People of Color (BIPOC), with the tools and resources needed to upskill and/or reskill their experience to prepare them for economic mobility and improve their pathway toward independence. | $16,147 |
| Junior Achievement of New York New York, NY | Inspiring K-12 Learners for Greater Financial Literacy and Empowerment teaches equips students with foundational personal finance skills. | $15,000 |
| Autism Hero Project Algonquin, IL | #HeroesUnite: focuses on equipping first responders with the knowledge and skills necessary to recognize and effectively respond to individuals with autism during emergency situations. | $14,649 |
| Network for Teaching Entrepreneurship Miami, FL | Aspiring Entrepreneurs Program (AEP) is a comprehensive pathway that includes NFTE's programs held during in-school and out-of-school time. It aims to inspire students to pursue their dreams for future careers and small business startups. | $13,000 |
| Bottomless Closet New York, NY | The Upskill at Home program offers a workshop curriculum that empowers disadvantaged New York City women to become self-sufficient. | $10,000 |
Ready to take the next step with Popular Foundation Inc?
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 | $4,486,015 | $904,730 | $570,938 | $446,353 | 44 | $570,938 | $357,366 | $202,000 |
| 2023 | $3,918,718 | $786,569 | $568,097 | $452,864 | 31 | $568,097 | $114,691 | $183,276 |
| 2022 | $3,588,708 | $762,933 | $555,813 | $448,860 | 28 | $555,813 | $89,013 | $183,085 |
| 2021 | $3,896,429 | $744,933 | $439,448 | $336,024 | 24 | $439,448 | $178,257 | $175,529 |
| 2020 | $3,332,272 | $973,603 | $1,326,522 | $1,230,457 | 29 | — | $75,589 | $155,287 |
Under IRS private-foundation payout rules, Popular Foundation Inc reported a distributable amount of $202K 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’s mission is to strengthen the social and economic well-being of the communities where it operates. Its grantmaking is limited to programs providing direct services in education, community development, and financial literacy. Education may include academic support for disadvantaged K–12 students, tutoring or mentoring, special education, alternative education, college access, and career readiness. Community development may include economic development, housing rehabilitation, public services, and other community-identified needs. Financial literacy programs aim to build people’s ability and confidence to make personal-finance decisions.
The Foundation’s 2024 grantees illustrate the range of organizations it supports. Thelma Gibson Health Initiative describes its mission as providing quality social services to underserved groups in its South Florida communities; its grant supported a seniors program offering counseling and social-service and substance-use services. An individual recipient New York High School describes itself as a college-preparatory school serving students who lack the educational background or financial means to attend another private college-prep school; its grant supported a corporate work-study program. Junior Achievement of Greater Miami says its volunteer-delivered programs provide students with financial-literacy, workforce-readiness, and entrepreneurship skills.
Grantmaking
In filing year 2024, the Foundation reported 44 grants totaling $446,353. Individual grants ranged from $2,500 to $31,000, with a median of $10,000.
Among the largest 2024 awards were $31,000 to Thelma Gibson Health Initiative for a seniors program; $30,000 to an individual recipient New York High School for its Corporate Work Study Program; $25,000 each to Junior Achievement Miami and an individual recipient Miami High School; and $20,000 each to Creo College Preparatory Charter School and Resolution Project. Other examples include $16,147 to Chapman Partnership for its HOPE program supporting people experiencing homelessness, and $15,000 to Junior Achievement of New York for a financial-literacy program.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Richard Carrion as chairman and director; Manuel Chinea as vice chairman and director; Beatriz Polhamus as executive director and director; Eduardo J. Negron as treasurer and director; Ignacio Alvarez Zatarain, Javier D. Ferrer, Bertha Rozier, and Israel Velasco as directors; and Amy L. Festante as secretary.
Popular Foundation Inc is led by Beatriz Polhamus, Executive Director & Director on every filing since 2020; none of the 9 officers listed in 2024 report compensation.
Officers on the 2024 filing
Beatriz Polhamus
Executive Director & Director
On filings since 2020
1 hr/week
No compensation reported
Richard L Carrion
Chairman & Director
On filings since 2020
1 hr/week
No compensation reported
Eduardo J. Negron
Treasurer & Director
On filings since 2020
1 hr/week
No compensation reported
Ignacio Alvarez Zatarain
Director
On filings since 2020
1 hr/week
No compensation reported
Israel Velasco
Director
On filings since 2020
1 hr/week
No compensation reported
Manuel Chinea
Vice Chairman & Director
Director → Vice Chairman & Director, 2024
On filings since 2020
1 hr/week
No compensation reported
Bertha Rozier
Director
On filings since 2023
1 hr/week
No compensation reported
Javier D. Ferrer
Director
New on the 2024 filing
1 hr/week
No compensation reported
Amy L. Festante
Secretary
On filings since 2022
1 hr/week
No compensation reported
Former officers (3)
- Former: Carlos Vazquez (2020–2023) — Vice Chairman & Director
- Former: Cathy Vuong (2020–2022) — Director
- Former: Christopher Lalan (2020) — Secretary
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 Popular Foundation Inc
How much does Popular Foundation Inc give each year?
Popular Foundation Inc gave $446K across 44 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $453K across 31 grants.
What is Popular Foundation Inc's typical grant size?
Popular Foundation Inc's median grant in 2024 was $10,000, and its average grant was $10,144, across 44 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Popular Foundation Inc that year got $5K on average.
Where does Popular Foundation Inc give grants?
Popular Foundation Inc gives mostly in New York: 55% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were Florida (27%) and New Jersey (9%). The most frequent recipient cities were New York, NY (13 grants), Bronx, NY (5 grants), Miami, FL (4 grants) and New York City, NY (3 grants).
Does Popular Foundation Inc give general operating support?
Not in 2024: none of the 44 grants with a stated purpose on Popular Foundation Inc's 2024 IRS Form 990-PF were described as general or operating support.
Who are Popular Foundation Inc's largest grantees?
Popular Foundation Inc's largest 2024 grantees include Thelma Gibson Health Initiative ($31,000), Junior Achievement Miami ($25,000) and Creo College Preparatory Charter School ($20,000), according to its 2024 IRS Form 990-PF. It also paid 2 grants to individuals ($55,000), which are not listed by name. Together they received 17% of its itemized 2024 grant dollars.
How large is Popular Foundation Inc?
Popular Foundation Inc reported $4.5M in total assets on its 2024 IRS Form 990-PF. It paid out $571K in qualifying distributions that year, against a required minimum of $202K (roughly 5% of its investment assets).
What does Popular Foundation Inc fund?
The Foundation’s mission is to strengthen the social and economic well-being of the communities where it operates. Its grantmaking is limited to programs providing direct services in education, community development, and financial literacy. See mission & focus areas ↑
How do I apply for a grant from Popular Foundation Inc?
Submit a formal grant request. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Popular Foundation Inc's EIN?
Popular Foundation Inc's EIN (Employer Identification Number) is 47-4997597. 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
Explore Open Grants
Browse active grant opportunities in Popular Foundation Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Popular Foundation Inc funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/popular-foundation-inc-morg_35a44f93dc764cd3969ffab951ce9246
BibTeX
@misc{grantable_474997597_2026,
author = {{Grantable}},
title = {{Popular Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/popular-foundation-inc-morg_35a44f93dc764cd3969ffab951ce9246},
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 Popular Foundation Inc'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.
Popular Foundation Inc down — hundreds of funders to go?