The Capstone Foundation
The Capstone Foundation is a private foundation based in Santa Monica, California. It supports Christian mental health and wellness services, including efforts to make treatment more accessible to families facing financial barriers.
The Capstone Foundation at a glance
In short: The Capstone Foundation gave $676K across 21 grants in 2024 (avg $32K), mostly in California. 10% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $675,919
- -14.5% vs 2023
- Grants made (2024)
- 21
- -16.0% vs 2023
- Average grant
- $32,187
- +1.8% vs 2023
- Median grant
- $20,000
- Total assets
- $2,483,674
- +19.6% vs 2023
- New grantees (estimate)
- 10% first-time grantees (2 of 20, 2024; small sample)
- Primary geography
- California (56% 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 The Capstone Foundation
- How to Apply
-
The filing says to call or write Nadine I. Watt to request an application. It lists no restrictions on awards and says the foundation does not restrict giving to preselected organizations.
- Review Cycle
- None listed.
- Deadline
- None listed.
- Contact
Application contact: Nadine I Watt
Mailing address: 2716 Ocean Park Blvd Ste 2025, Santa Monica, CA 90405
Phone: (310) 314-2413
Website: https://thecapstonefoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Capstone Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Union Rescue Mission ($245K across 2 grants). Together the top 10 received $585K.
Grant Size Distribution
100 grants across all recorded years
The most common grant size was under $50K: 81 grants of 100 (81%).
Geographic Focus
Where this funder awards grants
The 2024 filing reports that grant dollars went primarily to organizations in California (56%), Arizona (18%), and Florida (18%), with smaller shares going to Colorado (3%) and New York (2%).
Grant Distribution by State
Share of 2024 grant dollars across all 21 itemized grants.
Cities
Is The Capstone Foundation open to new grantees?
10%
first-time grantees, 2024
In 2024, 2 of 20 grantees (10%) were first-time recipients. With only 20 grantees, that is a small sample: one grantee more or less moves the share by about 5 points. First grants averaged $10K; repeat grants $36K. How we count
Medians: $10K first-time, $19K repeat.
- 80% of 2024 grantees were also funded in 2023. Method
- Giving grew 53% from 2021 to 2024. Method
- In 2024 it paid out 537% 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 $441K (2021) to $790K (2023). In 2024 it made 21 grants totaling $676K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Union Rescue Mission Los Angeles, CA | Homeless Shelter | $219,769 |
| Capitol Ministries Phoenix, AZ | Christian Ministry | $75,000 |
| Global Training Network Peoria, AZ | Christian Ministry | $50,000 |
| University of Miami Coral Gables, FL | Education | $50,000 |
| World Sports Inc Bonita Springs, FL | Christian Ministry | $50,000 |
| Brentwood School Los Angeles, CA | Education | $26,000 |
| Union Rescue Mission Los Angeles, CA | Homeless Shelter | $25,000 |
| USC Associates Los Angeles, CA | Education | $25,000 |
| XPRIZE Foundation Inc Culver City, CA | Climate Change | $24,000 |
| Calthorp School Santa Monica, CA | Education | $20,500 |
Ready to take the next step with The Capstone Foundation?
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 | $2,483,674 | $1,106,070 | $698,324 | $675,919 | 21 | $675,919 | $870,067 | $125,853 |
| 2023 | $2,075,928 | $352,962 | $819,628 | $790,300 | 25 | $790,300 | $223,657 | $113,522 |
| 2022 | $2,542,594 | $756,198 | $729,064 | $698,300 | 22 | $698,300 | $486,427 | $111,354 |
| 2021 | $2,515,460 | $1,562,296 | $462,136 | $441,100 | 15 | $441,100 | $494,128 | $97,759 |
| 2020 | $1,415,300 | $495,423 | $517,295 | $489,100 | 17 | — | $353,158 | $75,839 |
Under IRS private-foundation payout rules, The Capstone Foundation reported a distributable amount of $126K 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 states that its mission is to expand access to high-quality Christian mental health and wellness services and support programs that go the extra mile for those they serve. It also describes a goal of building a reliable funding source for lasting impact.
Its 2024 grants included support for homelessness services, Christian ministries, education, and climate change. Among the grantees, Union Rescue Mission describes its work as providing emergency and long-term services to people experiencing homelessness; Global Training Network says it equips indigenous church planters, pastors, and Christian leaders; and Brentwood School says it aims to help students think critically and creatively, act ethically, and shape a meaningful future.
Grantmaking
In 2024, the foundation reported 21 grants totaling $675,919. Grant amounts ranged from $250 to $219,769, with a median of $20,000.
The largest reported grants included $219,769 to Union Rescue Mission for a homeless shelter, $75,000 to Capitol Ministries for Christian ministry, $50,000 each to Global Training Network for Christian ministry, the University of Miami for education, and World Sports Inc. for Christian ministry. Other notable grants included $26,000 to Brentwood School for education, $25,000 each to Union Rescue Mission and USC Associates, $24,000 to XPRIZE Foundation Inc. for climate change, and $20,500 to Calthorp School for education.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Nadine I. Watt as president, Raymond Watt II as vice president, J. Scott Watt as secretary, Kathleen M. Watt as treasurer, and Bambi A. Watt and Andrew Jameson as board members.
The Capstone Foundation is led by Nadine I. Watt, President on every filing since 2020; none of the 6 officers listed in 2024 report compensation.
Officers on the 2024 filing
Nadine I. Watt
President
On filings since 2020
0.8 hrs/week
No compensation reported
Andrew Jameson
Board Member
On filings since 2020
0.8 hrs/week
No compensation reported
Bambi A. Watt
Board Member
On filings since 2020
0.8 hrs/week
No compensation reported
J. Scott Watt
Secretary
On filings since 2020
0.8 hrs/week
No compensation reported
Kathleen M. Watt
Treasurer
On filings since 2020
0.8 hrs/week
No compensation reported
Raymond Watt II
Vice President
On filings since 2020
0.8 hrs/week
No compensation reported
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.
Frequently asked questions about The Capstone Foundation
How much does The Capstone Foundation give each year?
The Capstone Foundation gave $676K across 21 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $790K across 25 grants.
What is The Capstone Foundation's typical grant size?
The Capstone Foundation's median grant in 2024 was $20,000, and its average grant was $32,187, across 21 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Capstone Foundation that year got $10K on average.
Where does The Capstone Foundation give grants?
The Capstone Foundation gives mostly in California: 56% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were Arizona (18%) and Florida (18%). The most frequent recipient cities were Los Angeles, CA (5 grants) and New York, NY (2 grants).
Does The Capstone Foundation give general operating support?
Not in 2024: none of the 21 grants with a stated purpose on The Capstone Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Christian Ministry" (7 grants) and "Education" (6 grants).
Who are The Capstone Foundation's largest grantees?
The Capstone Foundation's largest 2024 grantees include Union Rescue Mission ($244,769 across 2 grants), Capitol Ministries ($75,000) and Global Training Network ($50,000), according to its 2024 IRS Form 990-PF. Together they received 55% of its itemized 2024 grant dollars.
How large is The Capstone Foundation?
The Capstone Foundation reported $2.5M in total assets on its 2024 IRS Form 990-PF. It paid out $676K in qualifying distributions that year, against a required minimum of $126K (roughly 5% of its investment assets).
What does The Capstone Foundation fund?
The foundation states that its mission is to expand access to high-quality Christian mental health and wellness services and support programs that go the extra mile for those they serve. It also describes a goal of building a reliable funding source for lasting impact. See mission & focus areas ↑
How do I apply for a grant from The Capstone Foundation?
The filing says to call or write Nadine I. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Capstone Foundation's EIN?
The Capstone Foundation's EIN (Employer Identification Number) is 95-4211410. IRS Form 990 filing data is available on this page for 2020–2024.
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). The Capstone Foundation funder profile. GrantGraph. Retrieved October 10, 2026, from https://grantable.co/funders/the-capstone-foundation-morg_1680c88f1fba46e5b68e400b845d34a2
BibTeX
@misc{grantable_954211410_2026,
author = {{Grantable}},
title = {{The Capstone Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-capstone-foundation-morg_1680c88f1fba46e5b68e400b845d34a2},
note = {Accessed 2026-10-10. 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 The Capstone 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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