Richard and Carol Leonard Foundation
The Richard and Carol Leonard Foundation is a private foundation based in Lake Barrington, Illinois. Its filing says it generally supports charitable causes in the greater Barrington, Dundee, and Elgin, Illinois area involving education, welfare, and health, particularly for children, older adults, and disadvantaged people.
Key facts about Richard and Carol Leonard Foundation
In short: Richard and Carol Leonard Foundation gave $35K across 18 grants in 2025 (avg $2K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- EIN
- 83-0538429
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $35,200
- Grants made (2025)
- 18
- Average grant
- $1,956
- Median grant
- $1,000
- Total assets
- $660,003
- Primary geography
- Illinois (79% of itemized 2025 grant dollars)
- How to apply
- The foundation’s filing lists Richard B. Full details ↓
Data from IRS Form 990-PF, 2025; updated September 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$660K
-1.4% YoY
Annual Giving
$35K
+79.1% YoY
Grant Count
18
+5.9% YoY
Avg Grant Size
$2K
+69.2% YoY
Under IRS private-foundation payout rules, Richard and Carol Leonard Foundation reported a distributable amount of $42K for 2025 — the minimum it must pay out in qualifying distributions.
How Richard and Carol Leonard Foundation gives
- 78% of 2025 grantees were also funded in 2024. Method
- Giving grew 534% from 2022 to 2025. Method
- In 2025 it paid out 83% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The foundation’s filing does not state a separate mission. It describes its general support as charitable causes involving education, welfare, and health in the greater Barrington, Dundee, and Elgin area, with particular attention to children, older adults, and disadvantaged people. It also identifies financial literacy and classical music appreciation, education, and performance as areas of emphasis.
Its 2025 grantees illustrate the range of recipients. The Elgin Symphony Orchestra says it builds community through music performance and education. Northern Illinois Food Bank describes providing meals and access to nutritious food through a network of food pantries and programs, while Food for Greater Elgin says it works to provide food security and community resources. Misericordia Home describes supporting people with intellectual and developmental disabilities through residential, training, and employment services. St. Jude Children’s Research Hospital says it advances cures and prevention for pediatric catastrophic diseases through research and treatment.
Grantmaking
In filing year 2025, the foundation reported 18 grants totaling $35,200. Grants ranged from $200 to $15,900, with a median of $1,000.
Review Cycle
. It says the foundation does not restrict giving to preselected organizations. Its stated restrictions are that it generally supports charitable causes in the greater Barrington, Dundee, and Elgin, Illinois area involving education, welfare, and health, particularly regarding children, older adults, and disadvantaged people, with emphasis on financial literacy and classical music appreciation, education, and performance.
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Geographic Focus
Where this funder awards grants
The foundation states that it generally supports causes in the greater Barrington, Dundee, and Elgin, Illinois area. In 2025, 79% of grant dollars went to recipients in Illinois; the other reported shares were Tennessee, 5%; Wisconsin, 4%; Colorado, 3%; and Washington, 3%.
Grant Distribution by State
Share of 2025 grant dollars across all 18 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $2K (2020) to $35K (2025). In 2025 it made 18 grants totaling $35K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Elgin Symphony Orchestra ($16K). Together the top 10 received $32K.
Grant Size Distribution
49 grants across all recorded years
The most common grant size was under $50K: 49 grants of 49 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Elgin Symphony Orchestra Elgin, IL | Ainsworth Project | $15,900 |
| Food for Greater Elgin Elgin, IL | Food Pantry | $3,000 |
| Northern Illinois Food Bank Geneva, IL | Food Pantry | $3,000 |
| Misericordia Home Chicago, IL | General Purposes | $2,000 |
| St Jude Children's Research Hospital Memphis, TN | General Purposes | $1,800 |
| The Salvation Army Elgin, IL | Programs in Elgin, Illinois Area | $1,700 |
| Dental Lifeline Network Denver, CO | General Purposes | $1,200 |
| North Chicago Public Library North Chicago, IL | General Purposes | $1,200 |
| Whitman College Science Division Walla Walla, WA | Science Equipment Reserve Fund | $1,200 |
| University of Wisconsin Foundation Madison, WI | English Department for Discretionary/Career | $800 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2025 | $660,003 | $140,492 | $39,860 | $35,200 |
| 2024 | $669,369 | $126,884 | $24,145 | $19,650 |
| 2023 | $666,480 | $330,984 | $10,016 | $7,600 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $660,003 | $669,369 | $666,480 |
| Revenue | $140,492 | $126,884 | $330,984 |
| Expenses | $39,860 | $24,145 | $10,016 |
| Qualifying Distributions | $35,200 | $19,650 | $7,600 |
| Net Investment Income | $23,679 | $24,473 | $43,248 |
| Distributable Amount | $42,437 | $35,203 | $19,661 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS July 26, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS June 2, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 8, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 13, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 12, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 13, 2026)
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Richard B. Leonard as director and president, Christopher Wallace as director and secretary, and Peter Villanueva as director and treasurer.
Richard and Carol Leonard Foundation is led by Richard B. Leonard, Director & President on every filing since 2020; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Richard B. Leonard
Director & President
On filings since 2020
No compensation reported
Christopher Wallace
Director & Secretary
On filings since 2020
No compensation reported
Peter Villanueva
Director & Treasurer
On filings since 2020
No compensation reported
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Application contact: Richard B Leonard
Mailing address: 635 Old Barn Road, Lake Barrington, IL 60010
Phone: (847) 846-8996
Frequently asked questions about Richard and Carol Leonard Foundation
How much does Richard and Carol Leonard Foundation give each year?
Richard and Carol Leonard Foundation gave $35K across 18 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $20K across 17 grants.
What is Richard and Carol Leonard Foundation's typical grant size?
Richard and Carol Leonard Foundation's median grant in 2025 was $1,000, and its average grant was $1,956, across 18 grants on its 2025 IRS Form 990-PF.
Where does Richard and Carol Leonard Foundation give grants?
Richard and Carol Leonard Foundation gives mostly in Illinois: 79% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Tennessee (5%). The most frequent recipient cities were Elgin, IL (3 grants), Chicago, IL (2 grants) and Washington, DC (2 grants).
Does Richard and Carol Leonard Foundation give general operating support?
Yes: 67% of Richard and Carol Leonard Foundation's 2025 grants with a stated purpose (12 of 18) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Richard and Carol Leonard Foundation's largest grantees?
Richard and Carol Leonard Foundation's largest 2025 grantees include Elgin Symphony Orchestra ($15,900), Food for Greater Elgin ($3,000) and Northern Illinois Food Bank ($3,000), according to its 2025 IRS Form 990-PF. Together they received 62% of its itemized 2025 grant dollars.
How large is Richard and Carol Leonard Foundation?
Richard and Carol Leonard Foundation reported $660K in total assets on its 2025 IRS Form 990-PF. It paid out $35K in qualifying distributions that year, against a required minimum of $42K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Richard and Carol Leonard Foundation fund?
The foundation’s filing does not state a separate mission. It describes its general support as charitable causes involving education, welfare, and health in the greater Barrington, Dundee, and Elgin area, with particular attention to children, older adults, and disadvantaged people. See mission & focus areas ↑
How do I apply for a grant from Richard and Carol Leonard Foundation?
The foundation’s filing lists Richard B. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Richard and Carol Leonard Foundation's EIN?
Richard and Carol Leonard Foundation's EIN (Employer Identification Number) is 83-0538429. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
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