Principio Furnace Foundation Inc
Principio Furnace Foundation Inc is a private foundation, based in Perryville, MD. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $269K in total assets. In 2025, it awarded 5 grants totaling $7K.
Principio Furnace Foundation Inc at a glance
In short: Principio Furnace Foundation Inc gave $7K across 5 grants in 2025 (avg $1K), mostly in Maryland. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $6,509
- -82.2% vs 2024
- Grants made (2025)
- 5
- -44.4% vs 2024
- Average grant
- $1,302
- -68.0% vs 2024
- Median grant
- $500
- Total assets
- $268,549
- +16.9% vs 2024
- Primary geography
- Maryland (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Principio Furnace Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2025
The largest 2025 recipient was Charlestown Elementary School ($5K). Together the top 5 received $7K.
Grant Size Distribution
40 grants across all recorded years
The most common grant size was under $50K: 40 grants of 40 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
States
Cities
How Principio Furnace Foundation Inc gives
- Giving fell 80% from 2022 to 2025. Method
- In 2025 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $7K (2025) to $37K (2024). In 2025 it made 5 grants totaling $7K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Charlestown Elementary School Charlestown, MD | General Operations | $4,673 |
| Cecil College Foundation North East, MD | Yearly Donation | $525 |
| Perryville Fire Dept Perryville, MD | General Operations | $500 |
| Freedom Hills Port Deposit, MD | Therapeutic Riding Program | $461 |
| Youth Empowerment Services Elkton, MD | General Operations | $350 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Distributable Amount |
|---|---|---|---|---|---|---|---|
| 2025 | $268,549 | $173,354 | $134,294 | $6,509 | 5 | $134,294 | $797 |
| 2024 | $229,631 | $123,015 | $133,667 | $36,661 | 9 | $133,667 | $450 |
| 2023 | $238,954 | $190,824 | $172,644 | $21,657 | 8 | $172,644 | $396 |
| 2022 | $220,632 | $152,929 | $153,714 | $32,364 | 9 | $153,714 | $198 |
| 2021 | $221,417 | $91,823 | $91,554 | $13,210 | 9 | — | $235 |
Under IRS private-foundation payout rules, Principio Furnace Foundation Inc reported a distributable amount of $797 for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Principio Furnace Foundation Inc is led by Gary A. Stewart Jr., President on every filing since 2021; 1 of 3 officers listed in 2025 is compensated.
Officers on the 2025 filing
Gary A. Stewart Jr.
President
On filings since 2021
0.3 hrs/week
No compensation reported
Sarah Warrington Colenda
Secretary
On filings since 2021
32 hrs/week
$31K (2021) → $38K (2025)
Jeremy Lynch
Treasurer
On filings since 2021
0.3 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $38K, to Sarah Warrington Colenda (Secretary).
Frequently asked questions about Principio Furnace Foundation Inc
How much does Principio Furnace Foundation Inc give each year?
Principio Furnace Foundation Inc gave $7K across 5 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $37K across 9 grants.
What is Principio Furnace Foundation Inc's typical grant size?
Principio Furnace Foundation Inc's median grant in 2025 was $500, and its average grant was $1,302, across 5 grants on its 2025 IRS Form 990-PF.
Where does Principio Furnace Foundation Inc give grants?
Principio Furnace Foundation Inc gives mostly in Maryland: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does Principio Furnace Foundation Inc give general operating support?
Yes: 60% of Principio Furnace Foundation Inc's 2025 grants with a stated purpose (3 of 5) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Principio Furnace Foundation Inc's largest grantees?
Principio Furnace Foundation Inc's largest 2025 grantees include Charlestown Elementary School ($4,673), Cecil College Foundation ($525) and Perryville Fire Dept ($500), according to its 2025 IRS Form 990-PF. Together they received 88% of its itemized 2025 grant dollars.
How large is Principio Furnace Foundation Inc?
Principio Furnace Foundation Inc reported $269K in total assets on its 2025 IRS Form 990-PF. It paid out $134K in qualifying distributions that year, against a required minimum of $797 (roughly 5% of its investment assets).
What is Principio Furnace Foundation Inc's EIN?
Principio Furnace Foundation Inc's EIN (Employer Identification Number) is 52-2325524. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS June 25, 2021)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS August 15, 2022)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS August 7, 2023)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 22, 2024)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS January 30, 2026)
- IRS filings on file for fiscal years 2021–2025
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