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
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.
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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
No grants recorded for .
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 ...Related Funders
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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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