Pseg Foundation Inc
Pseg Foundation Inc is a private foundation based in Newark, New Jersey. The PSEG Foundation describes itself as a 501(c)(3) fully funded by PSEG and says it works with local organizations to address environmental sustainability, equity and economic empowerment.
Pseg Foundation Inc at a glance
In short: Pseg Foundation Inc gave $6.1M across 20 grants in 2024 (avg $304K), mostly in New Jersey. 25% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $6,089,651
- -15.1% vs 2023
- Grants made (2024)
- 20
- -94.6% vs 2023
- Average grant
- $304,483
- +1470.1% vs 2023
- Median grant
- $250,000
- Total assets
- $29,551,035
- -20.2% vs 2023
- New grantees (estimate)
- 25% first-time grantees (5 of 20, 2024; small sample)
- Primary geography
- New Jersey (79% 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 Pseg Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests. Its 2026 Neighborhood Partners Program application period is closed. The program rules say applicants must be IRS-approved 501(c)(3) organizations in good standing, may receive only one foundation grant per calendar year, and must operate within PSEG’s service or operating territory, including Salem County. Requests must support a program; capital campaigns, capital projects, bricks and mortar, third-party support and event sponsorships are excluded.
- Contact
Mailing address: 80 Park Plaza T 17, Newark, NJ 07102-4109
Phone: (973) 430-7928
Website: https://corporate.pseg.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
2 open opportunities from Pseg Foundation Inc
Who Pseg Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Montclair State University Foundation RELATED PERSONS TRANSACTIONS ($1.0M). Together the top 10 received $4.6M.
Grant Size Distribution
819 grants across all recorded years
The most common grant size was under $50K: 713 grants of 819 (87%).
Geographic Focus
Where this funder awards grants
The 2024 grant dollars went primarily to New Jersey recipients, which received 79% of the total. North Carolina and Virginia each received 6%, Washington, DC received 5%, and New York received 4%. The foundation’s Neighborhood Partners Program rules limit eligible organizations and programs to PSEG’s service territory or its operating territory in Salem County.
Grant Distribution by State
Share of 2024 grant dollars across all 20 itemized grants.
States
Cities
Is Pseg Foundation Inc open to new grantees?
25%
first-time grantees, 2024
In 2024, 5 of 20 grantees (25%) were first-time recipients. With only 20 grantees, that is a small sample: one grantee more or less moves the share by about 5 points. First grants averaged $339K; repeat grants $293K. How we count
Medians: $310K first-time, $200K repeat.
- 45% of 2024 grantees were also funded in 2023. Method
- Giving grew 57% from 2021 to 2024. Method
- In 2024 it paid out 509% 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 $3.9M (2021) to $8.6M (2020). In 2024 it made 20 grants totaling $6.1M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Montclair State University Foundation RELATED PERSONS TRANSACTIONS Montclair, NJ | Advancing Sustainable Growth and Innovation | $1,000,000 |
| Sustainable Jersey Inc Lawrenceville, NJ | Sustainable Jersey Small Grant and Program Support | $750,000 |
| Liberty Science Center Inc RELATED PERSONS TRANSACTION Jersey City, NJ | Reimagining the Energy Quest Exhibit | $600,000 |
| Foundation for North Carolina A T Greensboro, NC | Powering Potential | $384,600 |
| Hampton University Hampton, VA | Hampton U PSEG STEM Scholars Program | $340,000 |
| American National Red Cross & Its Constituent Chapters and Branches Fairfield, NJ | Home Fire Campaign | $330,000 |
| Howard University Washington, DC | PSE Environmental and Sustainability Scholars | $325,000 |
| United Negro College Fund Newark, NJ | Providing Pathways to College Access and Success | $310,000 |
| NJ Institute for Social Justice RPT Newark, NJ | Economic Environmental Justice & Civic Engagement | $300,000 |
| Community Food Bank of New Jersey Inc Hillside, NJ | A Strategic Plan Toward a Hunger-Free New Jersey | $250,000 |
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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 | $29,551,035 | $1,746,158 | $9,025,762 | $6,089,651 | 20 | $8,304,651 | $1,746,158 | $1,631,368 |
| 2023 | $37,026,670 | $2,159,799 | $9,154,458 | $7,175,374 | 370 | $8,805,374 | $2,159,799 | $1,793,542 |
| 2022 | $42,272,367 | $659,759 | $6,501,353 | $5,547,915 | 356 | $8,244,674 | $659,759 | $2,074,338 |
| 2021 | $49,926,270 | $78,342 | $6,618,061 | $3,880,654 | 12 | $8,616,757 | $78,342 | $1,689,743 |
| 2020 | $38,382,950 | $222,990 | $8,573,402 | $8,560,261 | 61 | — | $222,990 | $2,018,596 |
Under IRS private-foundation payout rules, Pseg Foundation Inc reported a distributable amount of $1.6M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation’s stated vision is to be a trusted partner that makes the communities it serves a better place to live and work. Its website describes a focus on environmental stewardship, equity, economic empowerment and community resilience.
Its 2024 grantees illustrate a range of supported work. Sustainable Jersey describes its mission as equipping New Jersey communities with tools, training, technical assistance and financial incentives for sustainability initiatives. Students 2 Science says it offers hands-on learning to encourage students to pursue STEM careers. The Community Food Bank of New Jersey describes work addressing the root causes of hunger, while Volunteer Lawyers for Justice says it works to improve access to justice for people experiencing poverty.
Grantmaking
In filing year 2024, the foundation reported 20 grants totaling $6,089,651. Individual awards ranged from $80,000 to $1,000,000, with a median of $250,000. The filing year 2023 included 370 grants totaling $7,175,374; 2022 included 356 grants totaling $5,547,915.
Among the largest reported 2024 grants were $1,000,000 to Montclair State University Foundation for “Advancing Sustainable Growth and Innovation,” $750,000 to Sustainable Jersey for small-grant and program support, and $600,000 to Liberty Science Center for “Reimagining the Energy Quest Exhibit.” Other awards included $384,600 to the Foundation for North Carolina A&T for “Powering Potential,” $340,000 to Hampton University for its PSEG STEM Scholars Program, and $325,000 to Howard University for PSE Environmental and Sustainability Scholars. The Community Food Bank of New Jersey received $250,000 for a strategic plan toward a hunger-free New Jersey, and Students 2 Science received $250,000 for expansion of STEM programs.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists David M. Daly, Daniel Eichhorn and Ralph A. LaRossa as trustees.
Pseg Foundation Inc is led by Richard T Thigpen, Chairman of the Board & CEO on every filing since 2020; none of the 15 officers listed in 2024 report compensation.
Officers on the 2024 filing
Richard T Thigpen
Chairman of the Board & CEO
On filings since 2020
1 hr/week
No compensation reported
Calvin R Ledford Jr.
President
On filings since 2020
1 hr/week
No compensation reported
Daniel Eichhorn
Trustee
On filings since 2020
1 hr/week
No compensation reported
David M Daly
Trustee
On filings since 2020
1 hr/week
No compensation reported
Ralph A LaRossa
Trustee
On filings since 2020
1 hr/week
No compensation reported
Shahid Malik
Trustee
On filings since 2020
1 hr/week
No compensation reported
Sheila Rostiac
Trustee
On filings since 2020
1 hr/week
No compensation reported
Tamara L Linde
Trustee
On filings since 2020
1 hr/week
No compensation reported
Bradford D Huntington
Treasurer
On filings since 2020
1 hr/week
No compensation reported
Clifford Pardo
Assistant Controller-Tax
On filings since 2020
1 hr/week
No compensation reported
Lynn C Ukejianya
Assistant Controller-Tax
On filings since 2020
1 hr/week
No compensation reported
Michael K Hyun
Secretary
On filings since 2020
1 hr/week
No compensation reported
Peter W Caruso
Assistant Treasurer
On filings since 2020
1 hr/week
No compensation reported
Rosalyn M Pichardo
Assistant Secretary
On filings since 2020
1 hr/week
No compensation reported
Rose M Chernick
Controller
On filings since 2020
1 hr/week
No compensation reported
Former officers (2)
- Former: Daniel J Cregg (2020–2022) — Trustee
- Former: Derek M DiRisio (2020–2021) — Trustee
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 Pseg Foundation Inc
How much does Pseg Foundation Inc give each year?
Pseg Foundation Inc gave $6.1M across 20 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $7.2M across 370 grants.
What is Pseg Foundation Inc's typical grant size?
Pseg Foundation Inc's median grant in 2024 was $250,000, and its average grant was $304,483, across 20 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Pseg Foundation Inc that year got $339K on average.
Where does Pseg Foundation Inc give grants?
Pseg Foundation Inc gives mostly in New Jersey: 79% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were North Carolina (6%) and Virginia (6%). The most frequent recipient cities were Newark, NJ (4 grants).
Does Pseg Foundation Inc give general operating support?
Not in 2024: none of the 20 grants with a stated purpose on Pseg Foundation Inc's 2024 IRS Form 990-PF were described as general or operating support.
Who are Pseg Foundation Inc's largest grantees?
Pseg Foundation Inc's largest 2024 grantees include Montclair State University Foundation RELATED PERSONS TRANSACTIONS ($1,000,000), Sustainable Jersey Inc ($750,000) and Liberty Science Center Inc RELATED PERSONS TRANSACTION ($600,000), according to its 2024 IRS Form 990-PF. Together they received 39% of its itemized 2024 grant dollars.
How large is Pseg Foundation Inc?
Pseg Foundation Inc reported $29.6M in total assets on its 2024 IRS Form 990-PF. It paid out $8.3M in qualifying distributions that year, against a required minimum of $1.6M (roughly 5% of its investment assets).
What does Pseg Foundation Inc fund?
The foundation’s stated vision is to be a trusted partner that makes the communities it serves a better place to live and work. Its website describes a focus on environmental stewardship, equity, economic empowerment and community resilience. See mission & focus areas ↑
How do I apply for a grant from Pseg Foundation Inc?
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Pseg Foundation Inc's EIN?
Pseg Foundation Inc's EIN (Employer Identification Number) is 22-3125880. IRS Form 990 filing data is available on this page for 2020–2024.
Does Pseg 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 October 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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Browse active grant opportunities in Pseg Foundation Inc's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Pseg Foundation Inc funder profile. GrantGraph. Retrieved October 13, 2026, from https://grantable.co/funders/pseg-foundation-inc-morg_e26f44acf6ce4b78ab4871adba8e058b
BibTeX
@misc{grantable_223125880_2026,
author = {{Grantable}},
title = {{Pseg Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/pseg-foundation-inc-morg_e26f44acf6ce4b78ab4871adba8e058b},
note = {Accessed 2026-10-13. 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 Pseg 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.
Pseg Foundation Inc down — hundreds of funders to go?