Stephen and Carol Cassiani Family Foundation

Private foundation · Grantmaker Houston, TX EIN: 81-0776857

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.

Key facts about Stephen and Carol Cassiani Family Foundation

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.

EIN
81-0776857
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$362,000
Grants made (2025)
7
Average grant
$51,714
Median grant
$52,000
Total assets
$6,983,761
Primary geography
Texas (92% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$7.0M

-1.9% YoY

Annual Giving

$362K

+74.9% YoY

Grant Count

7

+75.0% YoY

Avg Grant Size

$52K

-0.1% YoY

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.

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.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

3states

Share of 2025 grant dollars across all 7 itemized grants.

Cities

DallasHoustonAlexandriaBronx

Giving Over Time

Total grant dollars and number of grants per year

$0$100K$200K$300K$400K3 grants2019 4 grants2020 5 grants2021 5 grants2022 5 grants2023 4 grants2024 7 grants2025

From 2019 to 2025, annual grant giving ranged from $72K (2019) to $362K (2025). In 2025 it made 7 grants totaling $362K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 7 recipients in 2025

SMU Simmons School: $85KSMU Simmons School$85KChildrens Medical Center: $80KChildrens Medical Center$80KUnited Way of Greater Houston: $60KUnited Way of Greater Houston$60KParish Episcopal School: $52KParish Episcopal School$52KWomens AUX to Childrens: $45KWomens AUX to Childrens$45KCardinal Spellman HS: $30KCardinal Spellman HS$30KAmerican Red Cross Greater Houston: $10KAmerican Red Cross GreaterHouston$10K

The largest 2025 recipient was SMU Simmons School ($85K). Together the top 7 received $362K.

Grant Size Distribution

26 grants across all recorded years

16<$50K10$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 16 grants of 26 (62%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
SMU Simmons School Dallas, TXCharitable$85,000
Childrens Medical Center Dallas, TXCharitable$80,000
United Way of Greater Houston Houston, TXCharitable$60,000
Parish Episcopal School Dallas, TXCharitable$52,000
Womens AUX to Childrens Dallas, TXCharitable$45,000
Cardinal Spellman HS Bronx, NYCharitable$30,000
American Red Cross Greater Houston Houston, TXCharitable$10,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$500K$1M$1.5M$2M2019 2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$6,983,761$7,119,010$5,677,139
Revenue$305,808$1,725,183$1,451,667
Expenses$441,057$283,312$184,641
Qualifying Distributions$362,000$207,000$130,000
Net Investment Income$241,809$223,563$125,042
Distributable Amount$395,957$313,885$226,038

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2024 (received by the IRS November 3, 2025)
  2. Updated Form 990-PF for fiscal year 2025 (received by the IRS June 16, 2026)
  3. Added Form 990-PF for fiscal year 2019 (received by the IRS May 26, 2020)
  4. Updated Form 990-PF for fiscal year 2020 (received by the IRS November 11, 2021)
  5. Updated Form 990-PF for fiscal year 2021 (received by the IRS October 17, 2022)
  6. Updated Form 990-PF for fiscal year 2022 (received by the IRS December 13, 2024)
  7. Updated Form 990-PF for fiscal year 2023 (received by the IRS December 16, 2024)

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.

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