T Rowe Price Foundation
The T. Rowe Price Foundation is a private foundation based in Baltimore, Maryland. Founded in 1981, it supports nonprofit leaders, organizations, and networks in communities where T. Rowe Price associates live and work, with a priority focus on Baltimore and other communities where the company has a meaningful associate presence.
T Rowe Price Foundation at a glance
In short: T Rowe Price Foundation gave $11.7M across 249 grants in 2024 (avg $47K), top state Delaware. 17% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $11,734,997
- -1.7% vs 2023
- Grants made (2024)
- 249
- -2.0% vs 2023
- Average grant
- $47,129
- +0.3% vs 2023
- Median grant
- $15,000
- Total assets
- $93,306,776
- -3.2% vs 2023
- New grantees (estimate)
- 17% first-time grantees (42 of 249, 2024)
- Primary geography
- Delaware (47% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to T Rowe Price Foundation
- Accepts unsolicited proposals
- Yes
- How to Apply
-
The Foundation accepts unsolicited requests for consideration, but does not have an open application process and primarily invites organizations to apply. Organizations can share information through its inquiry form; the filing describes an online questionnaire followed, if invited to proceed, by registration and proposal submission.
- Contact
Application contact: Online Proposals Accepted Only
Mailing address: 1307 Point Street, Baltimore, MD 21231
Phone: (410) 345-3603
Website: https://troweprice.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from T Rowe Price Foundation
Who T Rowe Price Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was American Online Giving Foundation (Aogf) ($5.5M). Together the top 10 received $7.0M.
Grant Size Distribution
1,238 grants across all recorded years
The most common grant size was under $50K: 1,093 grants of 1,238 (88%).
Geographic Focus
Where this funder awards grants
The Foundation identifies Baltimore, Colorado Springs, San Francisco, and New York as communities where it focuses its grantmaking. Its 2024 grant dollars were reported as 47% to recipients in Delaware, 38% in Maryland, 7% in New York, 4% in Colorado, and 2% in California.
Grant Distribution by State
Share of 2024 grant dollars across all 249 itemized grants.
States
Cities
Is T Rowe Price Foundation open to new grantees?
17%
first-time grantees, 2024
In 2024, 42 of 249 grantees (17%) were first-time recipients. First grants averaged $29K; repeat grants $51K. How we count
Medians: $11K first-time, $15K repeat.
- 80% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (−18%). Method
- In 2024 it paid out 275% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $11.6M (2020) to $14.2M (2021). In 2024 it made 249 grants totaling $11.7M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| American Online Giving Foundation (Aogf) Newark, DE | Multiple Purposes | $5,517,497 |
| Waterfront Partnership of Baltimore Inc Baltimore, MD | Creativity and Innovation | $370,000 |
| University of Colorado Foundation Colorado Springs, CO | Youth Opportunity | $207,000 |
| Coppin State College Development Foundation Inc Baltimore, MD | Financial Well-Being | $150,000 |
| Neighborhood Trust Financial Partners New York, NY | Financial Well-Being | $150,000 |
| National Aquarium Inc Baltimore, MD | Creativity and Innovation | $135,000 |
| Thread Baltimore, MD | Youth Opportunity | $125,000 |
| Boys and Girls Clubs of Metropolitan Baltimore Baltimore, MD | Financial Well-Being | $100,000 |
| Echoing Green New York, NY | Financial Well-Being | $100,000 |
| Girls Who Invest Inc New York, NY | Youth Opportunity | $100,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $93,306,776 | $7,177,804 | $14,759,293 | $11,734,997 | 249 | $12,641,034 | $7,886,428 | $4,589,813 |
| 2023 | $96,431,421 | $14,872,160 | $13,187,231 | $11,936,291 | 254 | $12,549,327 | $4,876,534 | $4,165,220 |
| 2022 | $86,625,837 | $7,109,327 | $11,117,133 | $12,951,588 | 249 | $13,298,697 | $6,609,469 | $4,574,456 |
| 2021 | $114,583,054 | $23,335,778 | $15,441,079 | $14,236,184 | 240 | $14,625,053 | $12,216,528 | $5,254,226 |
| 2020 | $102,640,899 | $17,910,220 | $13,294,735 | $11,561,951 | 246 | — | $10,706,997 | $4,144,071 |
Under IRS private-foundation payout rules, T Rowe Price Foundation reported a distributable amount of $4.6M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The Foundation’s stated aim is to expand opportunities, enrich lives, and enable equitable solutions that help lift people and communities. Its strategic focus includes financial well-being and thriving communities, with support for financial education and empowerment, youth development, arts and culture, and innovation. It also supports local community leaders and cultural anchor institutions.
Examples of supported organizations illustrate a range of work. Neighborhood Trust Financial Partners says it empowers low-income individuals to participate in the U.S. financial system and achieve their financial goals. Thread says it builds relationships and a more equitable culture to support young people facing opportunity and achievement gaps. Waterfront Partnership of Baltimore says it works to enhance the waterfront district and promote equitable access to public spaces. These are the organizations’ descriptions of their own missions.
Grantmaking
In 2024, the Foundation reported 249 grants totaling $11,734,997. Grants ranged from $1,000 to $5,517,497, with a median grant of $15,000. The largest listed award was $5,517,497 to American Online Giving Foundation for multiple purposes. Other notable grants included $370,000 to Waterfront Partnership of Baltimore for creativity and innovation; $207,000 to University of Colorado Foundation for youth opportunity; and $150,000 each to Coppin State College Development Foundation and Neighborhood Trust Financial Partners for financial well-being.
The Foundation says most grants are by invitation, but it also reviews unsolicited proposals during the year. Its application preview allows requests for general operating or program-specific support. The Foundation’s website says grants are generally unrestricted for operating purposes. Its stated process begins with an online questionnaire; if an organization is presented with the opportunity to proceed, it can register on the grants portal and submit a proposal. Requested materials include responses to questions about the organization’s approach, a recent grant proposal, operating budget and income sources, an audited financial report or IRS Form 990 if no audit is available, board list and affiliations, intended program outcomes, and the amount requested. The Foundation does not provide event sponsorship funding.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists John Brothers as president. It lists Heather K. McPherson as board chair and trustee, and James M. Murphy, Mark Weigman, and Pam Conover as trustees with treasurer, assistant treasurer, and secretary roles, respectively. The other trustees listed are Barbara J. Burdett, Richard De Los Reyes, Anna Dopkin, Vanessa Eluma, and Raymone Jackson. The Foundation’s website identifies Raymone Jackson as its president.
T Rowe Price Foundation is led by John Brothers, President on every filing since 2020; none of the 15 officers listed in 2024 report compensation.
Officers on the 2024 filing
John Brothers
President
On filings since 2020
28 hrs/week
$264K (2020) → $0 (2024)
Heather K. McPherson
Board Chair & Trustee
Vice President & Trustee → Board Chair & Trustee, 2021
On filings since 2020
1 hr/week
No compensation reported
Anna Dopkin
Trustee
On filings since 2020
1 hr/week
No compensation reported
Barbara J. Burdett
Trustee
Vice President & Trustee → Trustee, 2022
On filings since 2020
1 hr/week
No compensation reported
Craig Watson
Trustee
On filings since 2020
1 hr/week
No compensation reported
David J. Wallack
Trustee
Vice Chair, Vice President & Trustee → Trustee, 2022
On filings since 2020
1 hr/week
No compensation reported
David Oestreicher
Trustee
Secretary, Vice President & Trustee → Trustee, 2022
On filings since 2020
1 hr/week
No compensation reported
James M. Murphy
Treasurer & Trustee
On filings since 2020
1 hr/week
No compensation reported
Mark Weigman
Assistant Treasurer & Trustee
Trustee → Assistant Treasurer & Trustee, 2022
On filings since 2020
1 hr/week
No compensation reported
Cheryl Mickel
Trustee
Vice President & Trustee → Trustee, 2022
On filings since 2021
1 hr/week
No compensation reported
Pam Conover
Secretary & Trustee
Vice President & Trustee → Secretary & Trustee, 2022
On filings since 2021
1 hr/week
No compensation reported
Raymone Jackson
Trustee
On filings since 2022
1 hr/week
No compensation reported
Richard De Los Reyes
Trustee
On filings since 2022
1 hr/week
No compensation reported
Vanessa Eluma
Trustee
On filings since 2022
1 hr/week
No compensation reported
Jennifer St Germain
Trustee
New on the 2024 filing
1 hr/week
No compensation reported
Former officers (4)
- Former: Renee M. Christoff (2020–2023) — Trustee
- Former: Robert W. Smith (2020–2023) — Trustee
- Former: George Roche (2020–2021) — Trustee
- Former: Daniel O. Shackelford (2020) — Vice President & Trustee
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2021 IRS filing
The highest reported compensation on the 2021 filing was $18K, to John Brothers (President).
Frequently asked questions about T Rowe Price Foundation
How much does T Rowe Price Foundation give each year?
T Rowe Price Foundation gave $11.7M across 249 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $11.9M across 254 grants.
What is T Rowe Price Foundation's typical grant size?
T Rowe Price Foundation's median grant in 2024 was $15,000, and its average grant was $47,129, across 249 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from T Rowe Price Foundation that year got $29K on average.
Where does T Rowe Price Foundation give grants?
T Rowe Price Foundation's top state is Delaware, with 47% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Maryland (38%) and New York (7%). The most frequent recipient cities were Baltimore, MD (159 grants), Colorado Springs, CO (31 grants), New York, NY (14 grants) and Washington, DC (5 grants).
Does T Rowe Price Foundation give general operating support?
Not in 2024: none of the 249 grants with a stated purpose on T Rowe Price Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Financial Well-Being" (91 grants), "Youth Opportunity" (89 grants) and "Creativity and Innovation" (68 grants).
Who are T Rowe Price Foundation's largest grantees?
T Rowe Price Foundation's largest 2024 grantees include American Online Giving Foundation (Aogf) ($5,517,497), Waterfront Partnership of Baltimore Inc ($370,000) and University of Colorado Foundation ($207,000), according to its 2024 IRS Form 990-PF. Together they received 52% of its itemized 2024 grant dollars.
How large is T Rowe Price Foundation?
T Rowe Price Foundation reported $93.3M in total assets on its 2024 IRS Form 990-PF. It paid out $12.6M in qualifying distributions that year, against a required minimum of $4.6M (roughly 5% of its investment assets).
What does T Rowe Price Foundation fund?
The Foundation’s stated aim is to expand opportunities, enrich lives, and enable equitable solutions that help lift people and communities. See mission & focus areas ↑
How do I apply for a grant from T Rowe Price Foundation?
The Foundation accepts unsolicited requests for consideration, but does not have an open application process and primarily invites organizations to apply. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is T Rowe Price Foundation's EIN?
T Rowe Price Foundation's EIN (Employer Identification Number) is 52-1231953. IRS Form 990 filing data is available on this page for 2020–2024.
Does T Rowe Price Foundation accept unsolicited proposals?
Yes, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). T Rowe Price Foundation funder profile. GrantGraph. Retrieved October 18, 2026, from https://grantable.co/funders/t-rowe-price-foundation-morg_58b7ba9068b046f7b5342d31d8f79625
BibTeX
@misc{grantable_521231953_2026,
author = {{Grantable}},
title = {{T Rowe Price Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/t-rowe-price-foundation-morg_58b7ba9068b046f7b5342d31d8f79625},
note = {Accessed 2026-10-18. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from T Rowe Price Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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