T Rowe Price Foundation
The T. Rowe Price Foundation is a private corporate foundation based in Baltimore, Maryland. Established in 1981, the foundation is one of the largest corporate philanthropies in Baltimore and Maryland. The foundation operates as a 501(c)(3) organization and serves as the philanthropic arm of T. Rowe Price, supporting nonprofit leaders, organizations, and networks through direct grants and matching gift contributions.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$93.3M
-3.2% YoY
Annual Giving
$11.7M
-1.7% YoY
Grant Count
249
-2.0% YoY
Avg Grant Size
$47K
+0.3% YoY
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.
Mission & Focus Areas
The T. Rowe Price Foundation is committed to pursuing the long-term success of the communities in which T. Rowe Price associates live and work. The foundation describes its approach as community-centric, requiring that it listen, remain responsive, and co-create solutions that support communities in places where the organization has impact.
The foundation's strategic pillars focus on:
- Financial Wellbeing: Financial education and empowerment
- Thriving Communities: Supporting local community leaders and advancing local cultural anchor institutions
- Youth Empowerment: Supporting organizations making a difference in youth development
- Arts and Culture: Advancing cultural institutions and creative initiatives
- Innovation and Vitality: Supporting bold, transformative ideas that spark positive change and strengthen community ecosystems
The foundation's grantmaking priorities include Education, Philanthropy, Voluntarism & Grantmaking, and Human Services.
Grantmaking
The T. Rowe Price Foundation makes grants through a direct grants program and offers a matching gift program. The foundation also provides pro bono opportunities and capacity-building programs for grantees and partners.
How to Apply
**: For most grants, the foundation's team approaches organizations directly to invite them to submit proposals, indicating a proactive rather than open-application model.
Ready to take the next step with T Rowe Price Foundation?
Geographic Focus
Where this funder awards grants
The foundation's grantmaking focuses primarily on Maryland, Colorado, and New York, with particular emphasis on communities where T. Rowe Price associates live and work. Baltimore receives significant funding as the foundation's home base.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets: $93.3 million to $96.4 million (as of 2023)
Annual Giving: Approximately $10.9 million to $11.7 million in grants annually
Total Revenue (2023): $14.9 million
Total Expenses (2023): $13.2 million
Total Liabilities (2023): $6.86 million
Cumulative Impact: Since its inception, the foundation has contributed over $204.5 million in direct grants and matching gift contributions.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $93,306,776 | $96,431,421 | $86,625,837 |
| Revenue | $7,177,804 | $14,872,160 | $7,109,327 |
| Expenses | $14,759,293 | $13,187,231 | $11,117,133 |
| Qualifying Distributions | $12,641,034 | $12,549,327 | $13,298,697 |
| Net Investment Income | $7,886,428 | $4,876,534 | $6,609,469 |
| Distributable Amount | $4,589,813 | $4,165,220 | $4,574,456 |
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
250 grants across all recorded years
Open Grants
1 open opportunity from T Rowe Price Foundation
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include American Online Giving Foundation (aogf) ($5,517,497), Boys and Girls Clubs of Metropolitan Baltimore ($100,000), Arts Every Day ($85,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN ONLINE GIVING FOUNDATION (AOGF) NEWARK, DE | MULTIPLE PURPOSES | $5,517,497 |
| ADELANTE LATINA BALTIMORE, MD | YOUTH OPPORTUNITY | $7,500 |
| ADVISERS GIVE BACK INC OAKLAND, CA | FINANCIAL WELL-BEING | $15,000 |
| ALAMEDA COUNTY COMMUNITY FOOD BANK INC OAKLAND, CA | FINANCIAL WELL-BEING | $25,000 |
| ARCHDIOCESE OF BALTIMORE CHANCERY INC BALTIMORE, MD | YOUTH OPPORTUNITY | $35,000 |
| ART WITH A HEART INC BALTIMORE, MD | CREATIVITY AND INNOVATION | $10,000 |
| ARTS EVERY DAY BALTIMORE, MD | CREATIVITY AND INNOVATION | $85,000 |
| ARTS FOR LEARNING MARYLAND INC BALTIMORE, MD | YOUTH OPPORTUNITY | $25,000 |
| ARTSCENTRIC INC REISTERSTOWN, MD | CREATIVITY AND INNOVATION | $20,000 |
| ASSOCIATED BLACK CHARITIES BALTIMORE, MD | CREATIVITY AND INNOVATION | $7,500 |
Leadership & Key People
Leadership team and compensation from IRS filings
Raymone Jackson, CLU® serves as President of the T. Rowe Price Foundation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOHN BROTHERS | PRESIDENT | 28 | — |
| JAMES M MURPHY | TREASURER & TRUSTEE | 1 | — |
| MARK WEIGMAN | ASST TREASURER & TRUSTEE | 1 | — |
| PAM CONOVER | SECRETARY & TRUSTEE | 1 | — |
| HEATHER K MCPHERSON | BOARD CHAIR & TRUSTEE | 1 | — |
| BARBARA J BURDETT | TRUSTEE | 1 | — |
| RICHARD DE LOS REYES | TRUSTEE | 1 | — |
| ANNA DOPKIN | TRUSTEE | 1 | — |
| VANESSA ELUMA | TRUSTEE | 1 | — |
| RAYMONE JACKSON | TRUSTEE | 1 | — |
| CHERYL MICKEL | TRUSTEE | 1 | — |
| DAVID OESTREICHER | TRUSTEE | 1 | — |
| JENNIFER ST GERMAIN | TRUSTEE | 1 | — |
| DAVID J WALLACK | TRUSTEE | 1 | — |
| CRAIG WATSON | TRUSTEE | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation has made significant recent grants to Baltimore nonprofits, including a $6.5 million distribution to support local organizations. The foundation also granted $550,000 to support nonprofits in Colorado. Recent grantees have included the Fund for Educational Excellence, University of Colorado Foundation, and Neighborhood Trust Financial Partners, among others.
T. ROWE PRICE FOUNDATION GRANTS $550K TO ...Frequently Asked Questions
What does T Rowe Price Foundation fund?
The T. Rowe Price Foundation is committed to pursuing the long-term success of the communities in which T. Rowe Price associates live and work. The foundation describes its approach as community-centric, requiring that it listen, remain responsive, and co-create solutions that support communities in places where the organization has impact. The foundation's strategic pillars focus on: • **Financial Wellbeing**: Financial education and empowerment • **Thriving Communities**: Supporting local com…
How do I apply for a grant from T Rowe Price Foundation?
The T. Rowe Price Foundation makes grants through a direct grants program and offers a matching gift program. The foundation also provides pro bono opportunities and capacity-building programs for grantees and partners. **Grant Amounts**: Typical awards range from $1,000 to $6,487,878. Recent grants documented include awards of $244,500, $175,000, and $125,000 to various organizations. **Application Process**: For most grants, the foundation's team approaches organizations directly to invite th…
Where does T Rowe Price Foundation make grants?
The foundation's grantmaking focuses primarily on Maryland, Colorado, and New York, with particular emphasis on communities where T. Rowe Price associates live and work. Baltimore receives significant funding as the foundation's home base.
What size grants does T Rowe Price Foundation award?
In 2024, T Rowe Price Foundation awarded 249 grants totaling $11.7M — an average of about $47K per grant, based on its IRS Form 990 filings.
How much is T Rowe Price Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, T Rowe Price Foundation reported a distributable amount of $4.6M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
Explore Open Grants
Browse active grant opportunities in T Rowe Price Foundation's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
The Abell Foundation Inc
BALTIMORE, MD
Assets
$296.4M
Grants
391
Total Given
$13.4M
Rotary Club of Columbia Patuxent
COLUMBIA, MD
Assets
$376K
Grants
1
Total Given
$12K
American Federation for Children Growth
COLUMBIA, MD
Assets
$9.4M
Grants
11
Total Given
$2.4M
Mayfield Scholastic Ltd
BALTIMORE, MD
Assets
—
Grants
1
Total Given
$38K
Baltimore Curriculum Project Inc
BALTIMORE, MD
Assets
$17.3M
Grants
6
Total Given
$2.7M
Government Employees' Benefit
HANOVER, MD
Assets
$3K
Grants
43
Total Given
$108K
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with T Rowe Price Foundation on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching T Rowe Price Foundation to a real strategy.