The Caruso Family Foundation
The Caruso Family Foundation is a private foundation based in Los Angeles, California. Founded in 1991, it supports efforts to improve the lives of underserved children and families in Southern California, particularly through educational opportunities and access to healthcare.
Key facts about The Caruso Family Foundation
In short: The Caruso Family Foundation gave $3.7M across 34 grants in 2024 (avg $108K), mostly in California. 32% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 95-4317077
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $3,671,443
- Grants made (2024)
- 34
- Average grant
- $107,984
- Median grant
- $30,331
- New grantees (estimate)
- 32% first-time grantees (11 of 34, 2024)
- Total assets
- $35,674
- Primary geography
- California (89% of itemized 2024 grant dollars)
- How to apply
- The foundation’s filing lists Rick Caruso as the contact and states that there is no application form or required material, no deadline, and no restrictions on awards. Full details ↓
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$36K
-71.6% YoY
Annual Giving
$3.7M
-12.9% YoY
Grant Count
34
-20.9% YoY
Avg Grant Size
$108K
+10.2% YoY
Is The Caruso Family Foundation open to new grantees?
32%
first-time grantees, 2024
In 2024, 11 of 34 grantees (32%) were first-time recipients. First grants averaged $20K; repeat grants $150K. How we count
Medians: $10K first-time, $50K repeat.
- 56% of 2024 grantees were also funded in 2023. Method
- Giving fell 27% from 2021 to 2024. Method
- In 2022 it paid out well above 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.
Mission & Focus Areas
The foundation’s stated mission is to empower underserved children and families in Southern California to change their life trajectories and break the cycle of poverty. It identifies high-quality educational opportunities and access to superior healthcare as central to that work. Its website also describes support for early intervention and medical research related to children’s hearing health.
Among its 2024 grantees, Para Los Niños describes its own mission as advancing children’s academic success and social well-being through education and family and community services. Strive Foundation says it provides academic and guidance support to children, youth, and families in Watts. Baby2Baby says it provides children in need with diapers, formula, clothing, and other necessities. These are descriptions of the grantees’ missions, not additional stated missions of the foundation.
Grantmaking
In 2024, the foundation reported 34 grants totaling $3,671,443. Individual grants ranged from $1,000 to $1,224,410, with a median of $30,330.
The largest reported grant was $1,224,410 to Pepperdine University for general operations, the Caruso School of Law, and the Philipps Endowed Chair. Other large grants included $350,000 to Baby2Baby for general operations; $308,199 to Para Los Niños for general operations and an ice cream truck for an event; $286,000 to Friends of United Hatzalah Inc for general operations; and $275,256 to Strive Foundation for general operations. Additional grants included $250,000 to Loyola High School of Los Angeles and $115,000 to the University of Southern California for the Student Center Fund, McMorrow NAI, and an OCD research-dedicated TMS machine.
How to Apply
The foundation’s filing lists Rick Caruso as the contact and states that there is no application form or required material, no deadline, and no restrictions on awards.
Ready to take the next step with The Caruso Family Foundation?
Geographic Focus
Where this funder awards grants
The foundation describes its mission as serving underserved children and families in Southern California. In 2024, 89% of its grant dollars went to recipients in California and 11% to recipients in New York.
Grant Distribution by State
Share of 2024 grant dollars across all 34 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $3.6M (2022) to $5.0M (2021). In 2024 it made 34 grants totaling $3.7M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Pepperdine University ($1.2M). Together the top 10 received $3.1M.
Organizations only. It also paid 1 grant to individuals ($7,710), which are not listed by name.
Grant Size Distribution
152 grants across all recorded years
The most common grant size was under $50K: 95 grants of 152 (63%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Pepperdine University Malibu, CA | General Operations/Caruso School of Law/Philipps Endowed Chair | $1,224,410 |
| BABY2BABY Los Angeles, CA | General Operations | $350,000 |
| Para Los Ninos Los Angeles, CA | General Operations/Ice Cream Truck for Event | $308,199 |
| Friends of United Hatzalah Inc New York, NY | General Operations | $286,000 |
| Strive Foundation Los Angeles, CA | General Operations | $275,256 |
| Loyola High School of Los Angeles Los Angeles, CA | General Operations | $250,000 |
| St Monica's Catholic Church Santa Monica, CA | General Operations | $125,000 |
| University of Southern California Los Angeles, CA | The student center fund/mcmorrow nai/ocd research dedicated tms machine | $115,000 |
| St Lawrence of Brindisi Church Los Angeles, CA | General Operations | $106,000 |
| Hoag Hospital Foundation Newport Beach, CA | General Operations | $100,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants | Grant count |
|---|---|---|---|---|---|
| 2024 | $35,674 | $3,516,698 | $3,715,987 | $3,671,443 | 34 |
| 2023 | $125,596 | $4,348,174 | $4,246,694 | $4,213,817 | 43 |
| 2022 | $58,051 | $3,360,874 | $3,620,016 | $3,552,947 | 26 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $35,674 | $125,596 | $58,051 |
| Revenue | $3,516,698 | $4,348,174 | $3,360,874 |
| Expenses | $3,715,987 | $4,246,694 | $3,620,016 |
| Qualifying Distributions | $3,683,699 | $4,231,565 | $3,561,720 |
| Net Investment Income | $2,013,335 | $1,723,324 | $565,940 |
| Distributable Amount | — | — | $1,912 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Rick J. Caruso as president and trustee; Christina J. Caruso and Marc A. Caruso as vice presidents and trustees; and Tina P. Caruso as trustee.
The Caruso Family Foundation is led by Rick J. Caruso, President & Trustee on every filing since 2020; none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Rick J. Caruso
President & Trustee
On filings since 2020
0.5 hrs/week
No compensation reported
Christina J. Caruso
Vice President & Trustee
On filings since 2020
0.5 hrs/week
No compensation reported
Marc A. Caruso
Vice President & Trustee
On filings since 2020
0.5 hrs/week
No compensation reported
Tina P. Caruso
Trustee
On filings since 2020
0.5 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.
Contact
Application contact: Rick Caruso
Mailing address: 101 The Grove Drive, Los Angeles, CA 90036
Phone: (323) 900-8100
Frequently asked questions about The Caruso Family Foundation
How much does The Caruso Family Foundation give each year?
The Caruso Family Foundation gave $3.7M across 34 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $4.2M across 43 grants.
What is The Caruso Family Foundation's typical grant size?
The Caruso Family Foundation's median grant in 2024 was $30,331, and its average grant was $107,984, across 34 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Caruso Family Foundation that year got $20K on average.
Where does The Caruso Family Foundation give grants?
The Caruso Family Foundation gives mostly in California: 89% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was New York (11%). The most frequent recipient cities were Los Angeles, CA (16 grants), Santa Monica, CA (3 grants), Malibu, CA (2 grants) and New York, NY (2 grants).
Does The Caruso Family Foundation give general operating support?
Yes: 82% of The Caruso Family Foundation's 2024 grants with a stated purpose (28 of 34) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are The Caruso Family Foundation's largest grantees?
The Caruso Family Foundation's largest 2024 grantees include Pepperdine University ($1,224,410), BABY2BABY ($350,000) and Para Los Ninos ($308,199), according to its 2024 IRS Form 990-PF. It also paid 1 grant to individuals ($7,710), which are not listed by name. Together they received 51% of its itemized 2024 grant dollars.
How large is The Caruso Family Foundation?
The Caruso Family Foundation reported $36K in total assets on its 2024 IRS Form 990-PF. Its revenue that year was $3.5M.
What does The Caruso Family Foundation fund?
The foundation’s stated mission is to empower underserved children and families in Southern California to change their life trajectories and break the cycle of poverty. It identifies high-quality educational opportunities and access to superior healthcare as central to that work. See mission & focus areas ↑
How do I apply for a grant from The Caruso Family Foundation?
The foundation’s filing lists Rick Caruso as the contact and states that there is no application form or required material, no deadline, and no restrictions on awards. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Caruso Family Foundation's EIN?
The Caruso Family Foundation's EIN (Employer Identification Number) is 95-4317077. 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.
Here's the math on researching The Caruso Family Foundation by hand.
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Cite this profile
Grantable. (2026). The Caruso Family Foundation funder profile. GrantGraph. Retrieved October 4, 2026, from https://grantable.co/funders/the-caruso-family-foundation-morg_1a13f77ee95f4d83a59bf90895c311a4
BibTeX
@misc{grantable_954317077_2026,
author = {{Grantable}},
title = {{The Caruso Family Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-caruso-family-foundation-morg_1a13f77ee95f4d83a59bf90895c311a4},
note = {Accessed 2026-10-04. 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 Caruso Family 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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