Sam & Mary Palumbo Family Foundation
The Sam & Mary Palumbo Family Foundation is a 501(c)(3) private foundation established in 2007 and based in Hillside, Illinois. The foundation is rooted in a deep commitment to service and community, providing scholarships and grants to help Chicago-area youth access resources they need to grow, learn, and thrive.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$3.8M
+3.6% YoY
Annual Giving
$466K
+36.9% YoY
Grant Count
49
+25.6% YoY
Avg Grant Size
$10K
+9.0% YoY
Mission & Focus Areas
Founded by Sebastian (Sam) and Mary Palumbo along with their children—Jessica, Kaitlyn, Samantha, Elizabeth, and Gabriella—the foundation empowers young people to reach their full potential through education, wellness, and community support.
The foundation focuses on two primary sectors:
- Education & Scholarships: Providing scholarships to deserving students from lower-income families pursuing associate and bachelor's degrees from any college or university
- Wellness & Medical Grants: Providing medical grants to organizations serving the needs of locally medically challenged children
The foundation operates on the principle that education and well-being are inseparable pillars of a successful and fulfilling life.
Grantmaking
The foundation made 27 grants in 2023, with total giving of $466,150 in the most recent reporting period.
How to Apply
**: Scholarships are available to applicants seeking associate and bachelor's degrees from any college or university. Grants are open to public children's charities.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations and individuals in the Chicagoland area and surrounding regions, with a focus on Illinois, Wisconsin, and Michigan.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent Financial Data (2023):
- Total Assets: $3,710,430
- Total Revenues: $903,469
- Total Expenses: $359,462
- Total Giving: $466,150
Most Recent Data (2024):
- Total Assets: $3,842,522
The foundation has zero employees and operates entirely through volunteer administration.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $3,842,522 | $3,710,430 | $3,083,105 |
| Revenue | $590,177 | $903,469 | $339,211 |
| Expenses | $524,405 | $359,462 | $296,942 |
| Qualifying Distributions | $473,074 | $350,980 | $287,343 |
| Net Investment Income | $202,921 | $208,811 | $101,075 |
| Distributable Amount | $147,991 | $159,284 | $151,462 |
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
177 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Mary Palumbo — President
- Alma Mater: Bradley University
- Former elementary school teacher and mother of five, dedicated to children's needs and community causes
Donald Aleo — Vice President
- Alma Mater: University of Illinois
- 25 years of experience in logistics, transportation, and distribution
Jessica Palumbo — Board Member
- Alma Mater: Indiana University
- Former elementary teacher with a master's degree in education; serves as a tutor and volunteer
The foundation is administered entirely by volunteers, with 100% of net proceeds from donations and fundraising events directed to support youth.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DONALD ALEO | VICE PRESIDENT | 1 | — |
| ELIZABETH PALUMBO PIERCE | DIRECTOR | 1 | — |
| GABRIELLA PALUMBO | DIRECTOR | 1 | — |
| GEORGE TRIMARCO | DIRECTOR | 1 | — |
| JESSICA PALUMBO CHRISTENSEN | DIRECTOR | 1 | — |
| KAITLYN PALUMBO GANDY | DIRECTOR | 1 | — |
| MARY PALUMBO | DIRECTOR | 1 | — |
| MICHAEL PIERCE | DIRECTOR | 1 | — |
| PAM KALAFUT | DIRECTOR | 1 | — |
| PAUL LONGI | DIRECTOR | 1 | — |
| RYAN CHRISTENSEN | DIRECTOR | 1 | — |
| SAMANTHA PALUMBO TROPEANO | DIRECTOR | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation has been actively awarding grants to numerous local entities and organizations serving the Chicagoland area. Recent grant recipients have included Boys and Girls Club for renovation projects, Catholic Charities for parent and infant support programs, and various nonprofits focused on youth development and medical services.
Palumbo Foundation presents grants to numerous local entities | News | smdailypress.comThe foundation recognizes scholarship recipients annually, celebrating their outstanding academic achievements, leadership, and commitment to making positive impact. Recent scholarship recipients have been accepted to institutions including Cornell University, University of Michigan, University of Illinois, Clemson University, Illinois State University, and Dickinson College.
Palumbo senior earns scholarshipSubject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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