Stephen and Carol Cassiani Family Foundation
Stephen and Carol Cassiani Family Foundation is a private foundation focused on Education, based in Houston, TX. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $7.0M in total assets. In 2025, it awarded 7 grants totaling $362K. Net investment income was $242K.
Stephen and Carol Cassiani Family Foundation at a glance
In short: Stephen and Carol Cassiani Family Foundation gave $362K across 7 grants in 2025 (avg $52K), mostly in Texas. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $362,000
- +74.9% vs 2024
- Grants made (2025)
- 7
- +75.0% vs 2024
- Average grant
- $51,714
- -0.1% vs 2024
- Median grant
- $52,000
- Total assets
- $6,983,761
- -1.9% vs 2024
- Primary geography
- Texas (92% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Stephen and Carol Cassiani Family Foundation funds
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2025
The largest 2025 recipient was SMU Simmons School ($85K). Together the top 7 received $362K.
Grant Size Distribution
26 grants across all recorded years
The most common grant size was under $50K: 16 grants of 26 (62%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 7 itemized grants.
Cities
How Stephen and Carol Cassiani Family Foundation gives
- Giving grew 178% from 2022 to 2025. Method
- In 2025 it paid out 91% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $72K (2019) to $362K (2025). In 2025 it made 7 grants totaling $362K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| SMU Simmons School Dallas, TX | Charitable | $85,000 |
| Childrens Medical Center Dallas, TX | Charitable | $80,000 |
| United Way of Greater Houston Houston, TX | Charitable | $60,000 |
| Parish Episcopal School Dallas, TX | Charitable | $52,000 |
| Womens AUX to Childrens Dallas, TX | Charitable | $45,000 |
| Cardinal Spellman HS Bronx, NY | Charitable | $30,000 |
| American Red Cross Greater Houston Houston, TX | Charitable | $10,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $6,983,761 | $305,808 | $441,057 | $362,000 | 7 | $362,000 | $241,809 | $395,957 |
| 2024 | $7,119,010 | $1,725,183 | $283,312 | $207,000 | 4 | $207,000 | $223,563 | $313,885 |
| 2023 | $5,677,139 | $1,451,667 | $184,641 | $130,000 | 5 | $130,000 | $125,042 | $226,038 |
| 2022 | $4,410,113 | $1,171,114 | $172,900 | $130,000 | 5 | $130,000 | $74,388 | $167,238 |
| 2021 | $3,411,899 | $1,016,709 | $180,006 | $130,000 | 5 | $130,000 | $82,153 | $128,127 |
| 2020 | $2,576,027 | $827,043 | $154,360 | $125,000 | 4 | — | $60,539 | $89,799 |
| 2019 | $1,903,344 | $644,778 | $94,901 | $72,000 | 3 | — | $7,591 | $80,378 |
Under IRS private-foundation payout rules, Stephen and Carol Cassiani Family Foundation reported a distributable amount of $396K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Stephen and Carol Cassiani Family Foundation is led by Lisa C. Macaraeg, President on every filing since 2019; none of the 5 officers listed in 2025 report compensation.
Officers on the 2025 filing
Lisa C. Macaraeg
President
On filings since 2019
No compensation reported
Carol A. Cassiani
Vice President
On filings since 2019
No compensation reported
E. Biegel Macaraeg
Vice President
On filings since 2019
No compensation reported
Jonathan M. Forster
Vice President
On filings since 2019
No compensation reported
Stephen M. Cassiani
Secretary & Treasurer
On filings since 2019
No compensation reported
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Stephen and Carol Cassiani Family Foundation
How much does Stephen and Carol Cassiani Family Foundation give each year?
Stephen and Carol Cassiani Family Foundation gave $362K across 7 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $207K across 4 grants.
What is Stephen and Carol Cassiani Family Foundation's typical grant size?
Stephen and Carol Cassiani Family Foundation's median grant in 2025 was $52,000, and its average grant was $51,714, across 7 grants on its 2025 IRS Form 990-PF.
Where does Stephen and Carol Cassiani Family Foundation give grants?
Stephen and Carol Cassiani Family Foundation gives mostly in Texas: 92% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was New York (8%). The most frequent recipient cities were Dallas, TX (4 grants) and Houston, TX (2 grants).
Does Stephen and Carol Cassiani Family Foundation give general operating support?
Not in 2025: none of the 7 grants with a stated purpose on Stephen and Carol Cassiani Family Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Charitable" (7 grants).
Who are Stephen and Carol Cassiani Family Foundation's largest grantees?
Stephen and Carol Cassiani Family Foundation's largest 2025 grantees include SMU Simmons School ($85,000), Childrens Medical Center ($80,000) and United Way of Greater Houston ($60,000), according to its 2025 IRS Form 990-PF. Together they received 62% of its itemized 2025 grant dollars.
How large is Stephen and Carol Cassiani Family Foundation?
Stephen and Carol Cassiani Family Foundation reported $7.0M in total assets on its 2025 IRS Form 990-PF. It paid out $362K in qualifying distributions that year, against a required minimum of $396K (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 is Stephen and Carol Cassiani Family Foundation?
Stephen and Carol Cassiani Family Foundation is a private foundation focused on Education, based in Houston, TX. It holds $7.0M in total assets as of 2025.
What is Stephen and Carol Cassiani Family Foundation's EIN?
Stephen and Carol Cassiani Family Foundation's EIN (Employer Identification Number) is 81-0776857. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 3, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS June 16, 2026)
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 26, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 11, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS October 17, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS December 13, 2024)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS December 16, 2024)
Live grants for the work Stephen and Carol Cassiani Family Foundation funds
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