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
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.
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
Among its reported 2024 grants, the largest include Montclair State University Foundation RELATED PERSONS TRANSACTIONS ($1,000,000), Sustainable Jersey Inc ($750,000), Liberty Science Center Inc RELATED PERSONS TRANSACTION ($600,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Public Media NJ Inc NJ PBS RPT NEW YORK, NY | NJ PBS Newsroom | $100,000 |
| Center for Aquatic Scienes Camden, NJ | Community And Urban Science Enrichment CAUSE | $80,000 |
| The Citizens Campaign Inc Metuchen, NJ | Open Access Leadership: Broadening Citizen Service | $150,000 |
| American National Red Cross & Its Constituent Chapters and Branches Fairfield, NJ | Home Fire Campaign | $330,000 |
| Caucus Educational Corporation Verona, NJ | Stand & Deliver: Powering Equity and Social Justice | $100,000 |
| Community Food Bank of New Jersey Inc Hillside, NJ | A Strategic Plan Toward a Hunger-Free New Jersey | $250,000 |
| Newark Museum Association Newark, NJ | Social Justice Projects as Catalysts for DEAI | $200,000 |
| Foundation for North Carolina A T Greensboro, NC | Powering Potential | $384,600 |
| Hampton University Hampton, VA | Hampton U PSEG STEM Scholars Program | $340,000 |
| Howard University Washington, DC | PSE Environmental and Sustainability Scholars | $325,000 |
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 InitiativeFrequently Asked Questions
What does Pseg Foundation Inc fund?
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 …
How do I apply for a grant from Pseg Foundation Inc?
**Grant Sizes and Activity:** • Typical awards range from $250,000 to $1,000,000 • The foundation made 77 grants in 2024 • Total giving in 2024 was $8,304,651 **Recent Grants:** • Sustainable Jersey: $750,000 (2024) • Howard University: $325,000 for PSE Environmental and Sustainability Scholars (2024) • Students 2 Science: $250,000 for S2S Project Apollo: Expansion of STEM Programs (2024) • Montclair State University: $1,000,000 to expand Green Teams Program (2024) **Application Process:** Prop…
Where does Pseg Foundation Inc make grants?
The foundation primarily funds organizations in New Jersey, New York, and Virginia, with particular emphasis on New Jersey communities.
What size grants does Pseg Foundation Inc award?
In 2024, Pseg Foundation Inc awarded 20 grants totaling $6.1M — an average of about $304K per grant, based on its IRS Form 990 filings.
How much is Pseg Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Pseg Foundation Inc reported a distributable amount of $1.6M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
Explore Open Grants
Browse active grant opportunities in Pseg Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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