Prospect Hill Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEW CANAAN, CT. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $9.5M in total assets. In 2024, it awarded 10 grants totaling $2.1M. Net investment income was $1.5M.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$9.5M
+4.9% YoY
Annual Giving
$2.1M
+91.3% YoY
Grant Count
10
+11.1% YoY
Avg Grant Size
$212K
+72.1% YoY
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.
About Prospect Hill Foundation Inc
Based on IRS filings
Prospect Hill Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEW CANAAN, CT. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $9.5M in total assets. In 2024, it awarded 10 grants totaling $2.1M. Net investment income was $1.5M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $9,482,273 | $9,043,410 | $8,306,146 |
| Revenue | $2,851,248 | $424,085 | $2,807,888 |
| Expenses | $2,243,648 | $1,247,773 | $432,473 |
| Qualifying Distributions | $2,119,495 | $1,109,100 | $342,031 |
| Net Investment Income | $1,501,802 | $318,412 | $2,717,446 |
| Distributable Amount | $457,786 | $431,714 | $390,597 |
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
38 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Community Foundation of New Jersey ($950,000), St Aloysius Building Campaign ($500,000), Lesley University ($250,000).
| Recipient | Purpose | Amount |
|---|---|---|
| COMMUNITY FOUNDATION OF NEW JERSEY MORRISTOWN, NJ | GENERAL PURPOSE | $950,000 |
| DUKE UNIVERSITY DURHAM, NC | GENERAL PURPOSE | $25,000 |
| LESLEY UNIVERSITY CAMBRIDGE, MA | GENERAL PURPOSE | $250,000 |
| NORWALK EDUCATION FOUNDATION NORWALK, CT | GENERAL PURPOSE | $1,000 |
| ST ALOYSIUS BUILDING CAMPAIGN NEW CANAAN, CT | GENERAL PURPOSE | $500,000 |
| ST LUKE'S SCHOOL NEW CANAAN, CT | GENERAL PURPOSE | $250,000 |
| ST JOSEPH'S CENTER SCRANTON, PA | GENERAL PURPOSE | $250 |
| THE MATHER HOMESTEAD DARIEN, CT | GENERAL PURPOSE | $1,000 |
| UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL CHAPEL HILL, NC | GENERAL PURPOSE | $39,900 |
| UNIVERSITY OF NOTRE DAME NOTRE DAME, IN | GENERAL PURPOSE | $100,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MEGHAN W CIOFFI | PRESIDENT & TRUSTEE | — | — |
| ROBERT F CIOFFI | VICE PRESIDENT & TRUSTEE | — | — |
| MARY D WALSH | VICE PRESIDENT & TRUSTEE | — | — |
| ABIGAIL GOBBLE DEMATTEO | VICE PRESIDENT & TRUSTEE | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Prospect Hill Foundation Inc?
Prospect Hill Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEW CANAAN, CT. It holds $9.5M in total assets as of 2024.
How large is Prospect Hill Foundation Inc?
As of 2024, Prospect Hill Foundation Inc holds $9.5M in total assets with $2.9M in annual revenue. It awarded 10 grants totaling $2.1M in 2024.
Where does Prospect Hill Foundation Inc operate?
Prospect Hill Foundation Inc has awarded grants in Connecticut, Illinois, Indiana, Kansas, Massachusetts, North Carolina, New Jersey, New York, Pennsylvania.
What size grants does Prospect Hill Foundation Inc award?
In 2024, Prospect Hill Foundation Inc awarded 10 grants totaling $2.1M — an average of about $212K per grant, based on its IRS Form 990 filings.
How much is Prospect Hill Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Prospect Hill Foundation Inc reported a distributable amount of $458K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
Explore Open Grants
Browse active grant opportunities in Prospect Hill Foundation Inc's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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