The Carroll and Milton Petrie Foundation Inc
The Carroll and Milton Petrie Foundation is a private, independent grantmaking foundation headquartered in Brooklyn, New York. Established in 1998 and designated as a 501(c)(3) organization, the foundation operates as a private grantmaking foundation focused on expanding economic opportunities for low-income New Yorkers through education and career development initiatives.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$110.8M
+7.7% YoY
Annual Giving
$6.5M
-6.7% YoY
Grant Count
48
-40.7% YoY
Avg Grant Size
$136K
+57.4% YoY
Under IRS private-foundation payout rules, The Carroll and Milton Petrie Foundation Inc reported a distributable amount of $5.3M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Carroll and Milton Petrie Foundation aims to increase economic opportunity by strengthening college and career pathways for low-income New Yorkers. The foundation's core philosophy centers on "fighting poverty through higher education and career connections," viewing education and employment pathways as primary levers for economic mobility.
The foundation supports innovative programs and practices that:
- Improve readiness for and connection to higher education — Programs that prepare students for college access and enrollment
- Enable students to thrive and succeed in college — Support for student success and persistence through degree completion
- Increase access to high potential careers upon graduation — Career readiness and employment pathway initiatives
The foundation is dedicated to ensuring that all New Yorkers, particularly those from marginalized communities and graduates of New York City public schools, have the resources and opportunities needed to reach their goals in school, work, and life.
Grantmaking
Notable grants awarded include:
Grant Range
** $1,000 to $402,000
Ready to take the next step with The Carroll and Milton Petrie Foundation Inc?
Geographic Focus
Where this funder awards grants
The foundation operates primarily in New York City, with a specific focus on the five boroughs. All grantmaking is concentrated in the New York City area, supporting colleges, universities, nonprofit organizations, and individuals working to improve education and career outcomes for low-income New Yorkers.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue
- Total Assets (2024): $110,836,074
- Total Revenue (2024): $8,104,437
- Total Expenses (2024): $7,901,544
- Total Liabilities (2024): $0
Historical Context
The foundation was established from an estate gift of approximately $300-400 million from Milton Petrie.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $110,836,074 | $102,889,545 | $93,126,280 |
| Revenue | $8,104,437 | $10,620,605 | $4,710,217 |
| Expenses | $7,901,544 | $8,202,941 | $11,622,574 |
| Qualifying Distributions | $7,407,854 | $7,531,604 | $10,804,888 |
| Net Investment Income | $6,351,531 | $5,275,132 | $1,179,934 |
| Distributable Amount | $5,288,862 | $4,789,046 | $4,933,997 |
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
241 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Research Foundation for CUNY ($1,444,796), City University of New York Research Foundation ($600,000), New Visions for Public Schools Inc ($425,000).
| Recipient | Purpose | Amount |
|---|---|---|
| The Baruch College Fund NEW YORK, NY | Student Emergency Fund Program | $70,000 |
| The Bronx Community College Foundation Inc BRONX, NY | Student Emergency Fund | $25,000 |
| Big Brothers Big Sisters of New York City Inc NEW YORK, NY | Career Pathways Program | $100,000 |
| Borough of Manhattan Community College Foundation NEW YORK, NY | Student Emergency Fund | $190,000 |
| The Bottom Line Inc JAMAICA PLAIN, MA | Continuation of Bottom Line?s Success Direct Impro | $125,000 |
| Braven Inc CHICAGO, IL | Scaling Braven in NYC, FY25-26 | $125,000 |
| Brooklyn College Foundation Inc BROOKLYN, NY | Petrie Student Emergency Grant Fund 2024 | $275,657 |
| Career Connections Athens, OH | General Support | $125,000 |
| City College of New York New York, NY | Student Emergency Fund | $225,007 |
| City University of New York Research Foundation NEW YORK, NY | Student Emergency Fund | $600,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Cass Conrad — Executive Director
- Alex Roland — Knowledge and Grants Manager
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ETTA BRANDMAN | CO-PRESIDENT | 5 | — |
| REGINA PERUGGI | CO-PRESIDENT | 5 | — |
| JEAN TROUBH | VICE PRESIDENT | 5 | — |
| DAVID TANNER | TREASURER | 5 | — |
| GAIL GORDON | SECRETARY | 5 | — |
| KARRIN WILKS | DIRECTOR | 5 | — |
| MEISHA PORTER | DIRECTOR | 5 | — |
| STEVE COLON | DIRECTOR | 5 | — |
| CASS CONRAD | EXECUTIVE DIRECTOR | 40 | $309,375 |
Recent News & Activity
Recent developments and announcements
The foundation has maintained active grantmaking focused on supporting CUNY institutions and student success initiatives:
Awarded nearly $1.2 million in new funding for CUNY food pantries and a signature career readiness initiative
News From CUNY: Petrie Foundation Awards Nearly $1.2 Million in New Funding\Awarded $1 million to CUNY to launch a new FAFSA completion program in response to unprecedented delays in the national rollout
Petrie Foundation Awards CUNY $1 Million to Launch New FAFSA Completion\Awarded $75,000 to Guttman Community College to support student emergency funds
Petrie Foundation Awards $75,000 to Guttman Community College to Support\Provided support to LaGuardia Community College for student success initiatives
Petrie Foundation Awards $75,000 to Guttman Community College to Support\The foundation also contributed to the establishment of the Petrie-Flom Center for Health Law Policy, Biotechnology, and Bioethics at Harvard Law School through a generous gift made in 2005.
Contact Information
- Address: 15 Metrotech Center, Suite 731, Brooklyn, NY 11201
- Phone: 917-753-0877
- Email: info@petrie.org
- Website: petrie.org
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Carroll and Milton Petrie Foundation Inc fund?
The Carroll and Milton Petrie Foundation aims to increase economic opportunity by strengthening college and career pathways for low-income New Yorkers. The foundation's core philosophy centers on "fighting poverty through higher education and career connections," viewing education and employment pathways as primary levers for economic mobility. The foundation supports innovative programs and practices that: 1. **Improve readiness for and connection to higher education** — Programs that prepare …
How do I apply for a grant from The Carroll and Milton Petrie Foundation Inc?
• **Grant Range:** $1,000 to $402,000 • **Median Grant:** $100,000 • **Annual Giving:** Approximately $7 million • **Number of Grants:** 43 grants in 2024; 81 grants in 2023 • **Total Giving (2024):** $6,531,750 • **Decision Timeline:** 8-12 weeks preparation before Board meetings • **Board Meetings:** Held three times annually Notable grants awarded include: • Research Foundation of The City University of New York (RFCUNY) — $600,000 for Student Emergency Fund • New Visions for Public Schools …
Where does The Carroll and Milton Petrie Foundation Inc make grants?
The foundation operates primarily in New York City, with a specific focus on the five boroughs. All grantmaking is concentrated in the New York City area, supporting colleges, universities, nonprofit organizations, and individuals working to improve education and career outcomes for low-income New Yorkers.
What size grants does The Carroll and Milton Petrie Foundation Inc award?
In 2024, The Carroll and Milton Petrie Foundation Inc awarded 48 grants totaling $6.5M — an average of about $136K per grant, based on its IRS Form 990 filings.
How much is The Carroll and Milton Petrie Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Carroll and Milton Petrie Foundation Inc reported a distributable amount of $5.3M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Carroll and Milton Petrie Foundation Inc's EIN?
The Carroll and Milton Petrie Foundation Inc's EIN (Employer Identification Number) is 20-1451752. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Carroll and Milton Petrie Foundation Inc's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
The Reich Family Charitable Trust
BROOKLYN, NY
Assets
$689K
Grants
1
Total Given
$453K
Launa Beuhler Foundation for
BROOKLYN, NY
Assets
$2K
Grants
4
Total Given
$20K
The Hilary Grace Foundation Inc
EAST AMHERST, NY
Assets
$126K
Grants
2
Total Given
$36K
Uw E J Madden Mem Open Hearts Club 10-214880
NEW YORK, NY
Assets
$1.3M
Grants
1
Total Given
$307K
Hindy's Foundation
BROOKLYN, NY
Assets
$142K
Grants
8
Total Given
$225K
Jeanne & Thomas Hardy Family Foundation
NEW YORK, NY
Assets
$3K
Grants
3
Total Given
$3K
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with The Carroll and Milton Petrie Foundation Inc 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 The Carroll and Milton Petrie Foundation Inc to a real strategy.