Practice Foundation Inc
Practice Foundation Inc is a private foundation, based in MYSTIC, CT. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $248K in total assets. In 2024, it awarded 4 grants totaling $23K. Net investment income was $21K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$248K
-0.6% YoY
Annual Giving
$23K
+40.6% YoY
Grant Count
4
+100.0% YoY
Avg Grant Size
$6K
-29.7% YoY
Under IRS private-foundation payout rules, Practice Foundation Inc reported a distributable amount of $764 for 2024 — the minimum it must pay out in qualifying distributions.
About Practice Foundation Inc
Based on IRS filings
Practice Foundation Inc is a private foundation, based in MYSTIC, CT. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $248K in total assets. In 2024, it awarded 4 grants totaling $23K. Net investment income was $21K.
Ready to take the next step with Practice Foundation Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $247,657 | $249,147 | $321,324 |
| Revenue | $21,010 | $9,499 | $2,242 |
| Expenses | $22,500 | $16,000 | $13,500 |
| Qualifying Distributions | $22,500 | $16,000 | $12,500 |
| Net Investment Income | $21,010 | $9,499 | $2,242 |
| Distributable Amount | $764 | $665 | $439 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
Grant Size Distribution
9 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include St Edmunds Retreat Inc ($10,000), Eastern Connecticut Community Gardens Association ($7,000), Mystic Seaport ($5,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Eastern Connecticut Community Gardens Association New London, CT | Operations | $7,000 |
| Mystic Seaport Mystic, CT | Operations | $5,000 |
| St Edmunds Retreat Inc Mystic, CT | Operations | $10,000 |
| CLOVC Hartford, CT | Operations | $500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Allan R Schuman | President | 1 | — |
Frequently Asked Questions
How large is Practice Foundation Inc?
As of 2024, Practice Foundation Inc holds $248K in total assets with $21K in annual revenue. It awarded 4 grants totaling $23K in 2024.
Where does Practice Foundation Inc operate?
Practice Foundation Inc has awarded grants in Connecticut, Maryland.
What size grants does Practice Foundation Inc award?
In 2024, Practice Foundation Inc awarded 4 grants totaling $23K — an average of about $6K per grant, based on its IRS Form 990 filings.
How much is Practice Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Practice Foundation Inc reported a distributable amount of $764 on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Practice Foundation Inc's EIN?
Practice Foundation Inc's EIN (Employer Identification Number) is 23-7000737. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Practice Foundation Inc's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
Ge Aerospace Foundation
NORWALK, CT
Assets
$22.5M
Grants
2,467
Total Given
$15.3M
American Savings Foundation Inc
NEW BRITAIN, CT
Assets
$98.1M
Grants
636
Total Given
$3.2M
Hartford Foundation for Public Giving
HARTFORD, CT
Assets
$1.2B
Grants
613
Total Given
$51.5M
Eversource Energy Foundation Inc
HARTFORD, CT
Assets
$12.5M
Grants
606
Total Given
$6.2M
The Community Foundation for Greater New
NEW HAVEN, CT
Assets
$627.4M
Grants
505
Total Given
$23.4M
Women's Business Development Council
STAMFORD, CT
Assets
$12.5M
Grants
470
Total Given
$8.6M
Fairfield County's Community Foundation
NORWALK, CT
Assets
$282.0M
Grants
445
Total Given
$23.5M
Viking Global Foundation Inc
STAMFORD, CT
Assets
$7.1M
Grants
423
Total Given
$3.6M
Ion Bank Foundation Inc
NAUGATUCK, CT
Assets
$14.8M
Grants
408
Total Given
$991K
Synchrony Foundation
STAMFORD, CT
Assets
$72.3M
Grants
394
Total Given
$20.5M
Knights of Columbus Charitable Fund Inc
NEW HAVEN, CT
Assets
$127.1M
Grants
358
Total Given
$77.1M
Thomaston Savings Bank Foundation Inc
THOMASTON, CT
Assets
$9.1M
Grants
352
Total Given
$1.0M
More Funders in Connecticut
Data last updated April 2026. Sourced from IRS Form 990-PF filings.
What could you do with Practice Foundation Inc 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