Pseg Foundation Inc
PSEG Foundation Inc is a 501(c)(3) corporate foundation established in 1991 and based in Newark, New Jersey. The foundation is a separate entity that is supported and fully funded by PSEG (Public Service Enterprise Group). It operates as a company-sponsored foundation focused on strategic charitable giving and community partnerships.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$29.6M
-20.2% YoY
Annual Giving
$6.1M
-15.1% YoY
Grant Count
20
-94.6% YoY
Avg Grant Size
$304K
+1470.1% YoY
Mission & Focus Areas
The PSEG Foundation's corporate citizenship priorities center on environmental sustainability, social justice, equity, and economic empowerment. The foundation supports organizations involved with:
- Sustainable neighborhoods
- STEM education
- Safety and disaster preparedness and response
- PSEG employee engagement and volunteerism
- Environmental sustainability initiatives
- Workforce development
- Food security and affordability programs
The foundation aims to support initiatives that drive toward achieving tangible, lasting results and evolve to bring innovative solutions to social challenges facing communities.
Grantmaking
Proposals are reviewed on a rolling basis, and applicants can expect a response within eight to 12 weeks of submission. During the review period, the foundation may request additional information via email or phone and/or request a site visit.
Grant Range
s and Activity:**
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in New Jersey, New York, and Virginia, with particular emphasis on New Jersey communities.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $29,551,035
- Total Revenues: $1,746,158
- Total Expenses: $9,025,762
- Total Giving: $8,304,651
As of 2023:
- Total Assets: $37,000,000
- Total Liabilities: $3,170,000
- Revenue: $2,159,799
- Expenses: $9,150,000
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $29,551,035 | $37,026,670 | $42,272,367 |
| Revenue | $1,746,158 | $2,159,799 | $659,759 |
| Expenses | $9,025,762 | $9,154,458 | $6,501,353 |
| Qualifying Distributions | $8,304,651 | $8,805,374 | $8,244,674 |
| Net Investment Income | $1,746,158 | $2,159,799 | $659,759 |
| Distributable Amount | $1,631,368 | $1,793,542 | $2,074,338 |
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
182 grants across all recorded years
Open Grants
2 open opportunities from Pseg Foundation Inc
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Richard T Thigpen: Chairman of the Board and Chief Executive Officer
- Lynn Ukejianya: Assistant Controller - Tax
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| David M Daly | Trustee | 1 | — |
| Daniel Eichhorn | Trustee | 1 | — |
| Ralph A LaRossa | Trustee | 1 | — |
| Lynn C Ukejianya | 1 | 1 | — |
| Clifford Pardo | 1 | 1 | — |
| Rose M Chernick | 1 | 1 | — |
| Rosalyn M Pichardo | 1 | 1 | — |
| Michael K Hyun | 1 | 1 | — |
| Bradford D Huntington | 1 | 1 | — |
| Calvin R Ledford Jr | 1 | 1 | — |
| Tamara L Linde | Trustee | 1 | — |
| Shahid Malik | Trustee | 1 | — |
| Sheila Rostiac | Trustee | 1 | — |
| Richard T Thigpen | Chairman of the Board and CEO | 1 | — |
| Peter W Caruso | Assistant Treasurer | 1 | — |
Recent News & Activity
Recent developments and announcements
In December 2025, PSE&G and the PSEG Foundation launched a $1.5 Million Community Relief Initiative to provide support to households facing economic hardship. The initiative distributes funding to over 25 local organizations including Shares Nation (formerly NJ Shares), Community Foodbank of NJ, Food Bank of South Jersey, Island Harvest, and over 20 other nonprofit organizations. The funding addresses critical needs including food assistance, housing relief, energy assistance, and other essential services.
PSEG Foundation Awards $1 Million to Montclair StateThe foundation also hosted its inaugural nonprofit partner conference in December 2025, bringing together more than 135 community leaders to strengthen collaboration and share insights that advance local impact.
PSE&G and the PSEG Foundation Launch $1.5 Million Community Relief InitiativeData last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Pseg 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