Prospect Hill Foundation Inc
Prospect Hill Foundation Inc is a private foundation based in New Canaan, Connecticut. In its 2024 filing, it reported giving $2,117,150 across 10 grants to charitable organizations.
Prospect Hill Foundation Inc at a glance
In short: Prospect Hill Foundation Inc gave $2.1M across 10 grants in 2024 (avg $212K), top state New Jersey. 70% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $2,117,150
- +91.3% vs 2023
- Grants made (2024)
- 10
- +11.1% vs 2023
- Average grant
- $211,715
- +72.1% vs 2023
- Median grant
- $69,950
- Total assets
- $9,482,273
- +4.9% vs 2023
- New grantees (estimate)
- 70% first-time grantees (7 of 10, 2024; small sample)
- Primary geography
- New Jersey (45% 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 Prospect Hill Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 22 Ramhorne Road, New Canaan, CT 06840
Phone: (973) 290-2328
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Prospect Hill Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Community Foundation of New Jersey ($950K). Together the top 10 received $2.1M.
Grant Size Distribution
38 grants across all recorded years
The most common grant size was under $50K: 19 grants of 38 (50%).
Geographic Focus
Where this funder awards grants
In 2024, grant dollars went to recipients in New Jersey (45%), Connecticut (36%), Massachusetts (12%), Indiana (5%), and North Carolina (3%). The listed grants also included a $250 award to St Joseph’s Center in Pennsylvania.
Grant Distribution by State
Share of 2024 grant dollars across all 10 itemized grants.
Cities
Is Prospect Hill Foundation Inc open to new grantees?
70%
first-time grantees, 2024
In 2024, 7 of 10 grantees (70%) were first-time recipients. With only 10 grantees, that is a small sample: one grantee more or less moves the share by about 10 points. First grants averaged $227K; repeat grants $175K. How we count
Medians: $40K first-time, $250K repeat.
- 20% of 2024 grantees were also funded in 2023. Method
- Giving grew 528% from 2021 to 2024. Method
- In 2024 it paid out 463% 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 $337K (2021) to $2.1M (2024). In 2024 it made 10 grants totaling $2.1M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Community Foundation of New Jersey Morristown, NJ | General Purpose | $950,000 |
| St Aloysius Building Campaign New Canaan, CT | General Purpose | $500,000 |
| Lesley University Cambridge, MA | General Purpose | $250,000 |
| St Luke's School New Canaan, CT | General Purpose | $250,000 |
| University of Notre Dame Notre Dame, IN | General Purpose | $100,000 |
| University of North Carolina at Chapel Hill Chapel Hill, NC | General Purpose | $39,900 |
| Duke University Durham, NC | General Purpose | $25,000 |
| Norwalk Education Foundation Norwalk, CT | General Purpose | $1,000 |
| The Mather Homestead Darien, CT | General Purpose | $1,000 |
| St Joseph's Center Scranton, PA | General Purpose | $250 |
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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 | $9,482,273 | $2,851,248 | $2,243,648 | $2,117,150 | 10 | $2,119,495 | $1,501,802 | $457,786 |
| 2023 | $9,043,410 | $424,085 | $1,247,773 | $1,107,000 | 9 | $1,109,100 | $318,412 | $431,714 |
| 2022 | $8,306,146 | $2,807,888 | $432,473 | $339,900 | 8 | $342,031 | $2,717,446 | $390,597 |
| 2021 | $10,020,665 | $3,576,142 | $417,002 | $337,210 | 8 | $338,990 | $527,585 | $340,221 |
| 2020 | $6,424,367 | $3,154,564 | $416,824 | $375,000 | 3 | — | $1,090,091 | $231,363 |
Under IRS private-foundation payout rules, Prospect Hill Foundation Inc reported a distributable amount of $458K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Grantmaking
In filing year 2024, the foundation reported 10 grants totaling $2,117,150. Grant amounts ranged from $250 to $950,000, with a median of $69,950. Its largest reported grants were $950,000 to the Community Foundation of New Jersey, $500,000 to the St Aloysius Building Campaign, $250,000 to Lesley University, and $250,000 to St Luke’s School. Other recipients included the University of Notre Dame ($100,000), the University of North Carolina at Chapel Hill ($39,900), Duke University ($25,000), Norwalk Education Foundation ($1,000), The Mather Homestead ($1,000), and St Joseph’s Center ($250). All listed grants had a stated purpose of general purpose.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Meghan W Cioffi as president and trustee; Robert F Cioffi, Mary D Walsh, and Abigail Gobble Dematteo as vice presidents and trustees.
Prospect Hill Foundation Inc is led by Meghan W. Cioffi, President & Trustee on every filing since 2020; none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Meghan W. Cioffi
President & Trustee
On filings since 2020
No compensation reported
Abigail Gobble Dematteo
Vice President & Trustee
On filings since 2020
No compensation reported
Mary D. Walsh
Vice President & Trustee
On filings since 2020
No compensation reported
Robert F. Cioffi
Vice President & Trustee
On filings since 2020
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.
Frequently asked questions about Prospect Hill Foundation Inc
How much does Prospect Hill Foundation Inc give each year?
Prospect Hill Foundation Inc gave $2.1M across 10 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.1M across 9 grants.
What is Prospect Hill Foundation Inc's typical grant size?
Prospect Hill Foundation Inc's median grant in 2024 was $69,950, and its average grant was $211,715, across 10 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Prospect Hill Foundation Inc that year got $227K on average.
Where does Prospect Hill Foundation Inc give grants?
Prospect Hill Foundation Inc's top state is New Jersey, with 45% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Connecticut (36%) and Massachusetts (12%). The most frequent recipient cities were New Canaan, CT (2 grants).
Does Prospect Hill Foundation Inc give general operating support?
Yes: 100% of Prospect Hill Foundation Inc's 2024 grants with a stated purpose (10 of 10) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Prospect Hill Foundation Inc's largest grantees?
Prospect Hill Foundation Inc's largest 2024 grantees include Community Foundation of New Jersey ($950,000), St Aloysius Building Campaign ($500,000) and Lesley University ($250,000), according to its 2024 IRS Form 990-PF. Together they received 80% of its itemized 2024 grant dollars.
How large is Prospect Hill Foundation Inc?
Prospect Hill Foundation Inc reported $9.5M in total assets on its 2024 IRS Form 990-PF. It paid out $2.1M in qualifying distributions that year, against a required minimum of $458K (roughly 5% of its investment assets).
How do I apply for a grant from Prospect Hill Foundation Inc?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Prospect Hill Foundation Inc's EIN?
Prospect Hill Foundation Inc's EIN (Employer Identification Number) is 20-5572208. IRS Form 990 filing data is available on this page for 2020–2024.
Does Prospect Hill Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
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). Prospect Hill Foundation Inc funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/prospect-hill-foundation-inc-morg_fd6cc5de5ba941da8e0d6b5536b1a8a2
BibTeX
@misc{grantable_205572208_2026,
author = {{Grantable}},
title = {{Prospect Hill Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/prospect-hill-foundation-inc-morg_fd6cc5de5ba941da8e0d6b5536b1a8a2},
note = {Accessed 2026-10-14. 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 Prospect Hill 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.
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