Quantum Foundation is a private grantmaking organization based in West Palm Beach, Florida, dedicated to improving community health. The foundation was established in 1995 using net proceeds from the sale of JFK Medical Center in Atlantis, Florida, and began making grants in Palm Beach County in June 1997. As a 501(c)(3) organization, Quantum Foundation operates as an independent foundation with a focus on health-related initiatives and community well-being.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$171.2M
+5.5% YoY
Annual Giving
$5.8M
+2.3% YoY
Grant Count
233
+1.7% YoY
Avg Grant Size
$25K
+0.6% YoY
Mission & Focus Areas
Vision: The people of Palm Beach County experience a better life through quality health.
Mission: To inspire and fund initiatives that improve the health of our communities.
The foundation organizes its work around three primary impact zones:
Better Engagement in Health — Ensuring individuals have the knowledge and skills to make healthy choices, and health workers have the ability to effectively serve those individuals.
Greater Access to Health Resources — Ensuring communities have access to resources that support optimal health and organizations have capacity to provide those resources.
Stronger Connections for Healthy Communities — Engaging stakeholders to reshape systems that promote equitable community health and aligning multiple efforts to implement solutions.
The foundation also recognizes that health cannot be achieved without meeting fundamental human needs, addressing social determinants of health including housing, education, early childhood development, and working conditions.
Grantmaking
All grants awarded by Quantum Foundation remain in Palm Beach County to benefit local communities. The foundation has funded hundreds of local nonprofit organizations across various health and community service areas.
Grant Types
How to Apply
**Quantum in the Community Timeline (2025):**
Ready to take the next step with Quantum Foundation Inc?
Geographic Focus
Where this funder awards grants
Quantum Foundation exclusively funds organizations and initiatives in Palm Beach County, Florida. 100% of grants support organizations working directly in local communities.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets:
- Approximately $174 million (current)
- $162 million (2023)
- $155 million (2023, per press release)
- $150 million (2023, per another source)
Annual Revenue & Expenses (2023):
- Revenue: $10.3 million
- Expenses: $9.41 million
Total Liabilities (2023): $2.38 million
Cumulative Grantmaking:
- Total awarded since inception: $184 million
- Tax-exempt status: Since March 1959
- EIN: 59-0812783
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $171,195,027 | $162,221,360 | $148,708,824 |
| Revenue | $12,281,286 | $10,298,425 | $5,827,030 |
| Expenses | $9,943,843 | $9,414,631 | $9,579,868 |
| Qualifying Distributions | $7,961,298 | $7,796,256 | $7,448,720 |
| Net Investment Income | $11,207,433 | $8,922,630 | $4,925,690 |
| Distributable Amount | $8,170,169 | $7,566,710 | $7,638,150 |
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
250 grants across all recorded years
Open Grants
2 open opportunities from Quantum Foundation Inc
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Eric Kelly — President of Quantum Foundation
Brian Kirkpatrick — Board Chair (as of 2023)
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BRIAN KIRKPATRICK | CHAIRMAN | 2 | — |
| DR RONALD ROMEAR | VICE CHAIR | 2 | — |
| ERIC M KELLY | PRESIDENT | 40 | $365,807 |
| JOE PASKOSKI | CFO/VP OF ADMINISTRATION | 40 | $273,005 |
| DANIEL ALBERTTIS | TRUSTEE | 2 | — |
| YOLETTE BONNET | TRUSTEE | 2 | — |
| JEANNETTE M CORBETT | TRUSTEE | 2 | — |
| DR KARL DHANA | TRUSTEE | 2 | — |
| MICHAEL J DIXON | TRUSTEE | 2 | — |
| BRADLEY HURTSON | TRUSTEE | 2 | — |
| MICHELE JACOBS | TRUSTEE | 2 | — |
| SHAUN MCGRUDER | TRUSTEE | 2 | — |
| WILLIAM A MEYER | TRUSTEE | 2 | — |
| STEPHEN C MOORE | TRUSTEE | 2 | — |
| DR GERALD J O'CONNOR | TRUSTEE | 2 | — |
Recent News & Activity
Recent developments and announcements
**2025 Announcements:**
Quantum Foundation announced a $12.5 million, 10-year plan to fund grassroots organizations
Quantum Foundation announces $12.5 million, 10-year plan to fund grassrootsOpened applications to grant $1.25 million in funding for Palm Beach County's smallest nonprofits
Quantum Foundation Opens Applications to Grant $1.25 Million in Funding\Invested over $3 million locally in the first half of 2025
Quantum Foundation Invests Over $3 Million Locally in First Half of 2025Held 2025 Quantum in the Community Breakfast
Published January 2026 Impact Report
**Organizational Approach:**
The foundation operates with the following principles:
Promotes change by asking challenging questions to drive action
Works collaboratively with others to find solutions
Takes strategic risks with resources and makes bold decisions
Maintains flexibility and adaptability to address emerging community challenges while maintaining focus on health
Subject Areas
Focus areas based on grantmaking activity
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Quantum 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