The Caruso Foundation
The Caruso Foundation is a private foundation based in Boulder, Colorado. Its 2024 filing reports grants to organizations including universities, education and entrepreneurship nonprofits, and community organizations.
The Caruso Foundation at a glance
In short: The Caruso Foundation gave $1.5M across 32 grants in 2024 (avg $46K), mostly in Colorado. 41% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $1,482,191
- -14.1% vs 2023
- Grants made (2024)
- 32
- -13.5% vs 2023
- Average grant
- $46,318
- -0.7% vs 2023
- Median grant
- $10,000
- Total assets
- $40,997,866
- +4.2% vs 2023
- New grantees (estimate)
- 41% first-time grantees (13 of 32, 2024)
- Primary geography
- Colorado (59% 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 Caruso Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 3333 23Rd Street, Boulder, CO 80304
Phone: (303) 717-2133
Website: https://dan-caruso.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Caruso Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was University of Colorado Foundation ($355K). Together the top 10 received $1.3M.
Grant Size Distribution
148 grants across all recorded years
The most common grant size was under $50K: 106 grants of 148 (72%).
Geographic Focus
Where this funder awards grants
In 2024, 59% of grant dollars went to recipients in Colorado, 34% to Illinois, 5% to New Mexico, and 1% each to Arizona and Minnesota.
Grant Distribution by State
Share of 2024 grant dollars across all 32 itemized grants.
Cities
Is The Caruso Foundation open to new grantees?
41%
first-time grantees, 2024
In 2024, 13 of 32 grantees (41%) were first-time recipients. First grants averaged $21K; repeat grants $64K. How we count
Medians: $5K first-time, $15K repeat.
- 53% of 2024 grantees were also funded in 2023. Method
- Giving fell 24% from 2021 to 2024. Method
- In 2024 it paid out 63% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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 $1.5M (2024) to $2.0M (2020). In 2024 it made 32 grants totaling $1.5M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Colorado Foundation Denver, CO | Program Funding | $355,000 |
| University of Chicago Booth School of Business Chicago, IL | Program Funding | $250,000 |
| University of Illinois Urbana, IL | Program Funding | $225,000 |
| Boulder Police Foundation Boulder, CO | Program Funding | $111,000 |
| Greenhouse Scholars Boulder, CO | Program Funding | $92,700 |
| Elevate Quantum Albuquerque, NM | Program Funding | $75,000 |
| Endeavor Colorado Denver, CO | Program Funding | $64,473 |
| National Center for Women & Information Technology Boulder, CO | Program Funding | $50,000 |
| Access Opportunity Boulder, CO | Program Funding | $40,000 |
| Evans Scholars Foundation Glenview, IL | Program Funding | $25,000 |
Ready to take the next step with The Caruso 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 | $40,997,866 | $3,824,840 | $2,173,398 | $1,482,191 | 32 | $1,482,191 | $3,175,287 | $2,357,835 |
| 2023 | $39,349,328 | $2,572,463 | $2,047,908 | $1,726,200 | 37 | $1,726,200 | $2,288,157 | $2,373,332 |
| 2022 | $38,547,603 | $-982,337 | $2,072,072 | $1,810,750 | 31 | $1,810,750 | $1,225,670 | $2,618,178 |
| 2021 | $41,084,447 | $3,652,594 | $2,752,899 | $1,943,000 | 21 | $1,943,000 | $2,452,463 | $2,746,020 |
| 2020 | $40,530,429 | $45,703,876 | $2,409,090 | $1,956,393 | 27 | — | $30,291,276 | $2,152,194 |
Under IRS private-foundation payout rules, The Caruso Foundation reported a distributable amount of $2.4M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
No foundation mission is stated in the available information. The 2024 grants show support for organizations with varied missions. For example, Greenhouse Scholars describes its work as partnering with young leaders to support initiatives intended to transform communities, while Access Opportunity aims to create opportunities for high-potential students from low-income households. Endeavor Colorado says it selects, mentors, and supports high-impact entrepreneurs in the region.
Grantmaking
In 2024, the foundation reported 32 grants totaling $1,482,191. Grant amounts ranged from $1,000 to $355,000, with a median of $10,000. The largest grants included $355,000 to the University of Colorado Foundation, $250,000 to the University of Chicago Booth School of Business, $225,000 to the University of Illinois, and $111,000 to the Boulder Police Foundation. Other notable grants were $92,700 to Greenhouse Scholars, $75,000 to Elevate Quantum, and $64,473 to Endeavor Colorado. The listed grants were for program funding.
Leadership & Key People
Leadership team and compensation from IRS filings
Daniel P. Caruso was listed as president on the 2024 filing.
The Caruso Foundation is led by Daniel P Caruso, President on every filing since 2020 — the only officer listed, and uncompensated.
Officers on the 2024 filing
Daniel P Caruso
President
On filings since 2020
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 Caruso Foundation
How much does The Caruso Foundation give each year?
The Caruso Foundation gave $1.5M across 32 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.7M across 37 grants.
What is The Caruso Foundation's typical grant size?
The Caruso Foundation's median grant in 2024 was $10,000, and its average grant was $46,318, across 32 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Caruso Foundation that year got $21K on average.
Where does The Caruso Foundation give grants?
The Caruso Foundation gives mostly in Colorado: 59% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were Illinois (34%) and New Mexico (5%). The most frequent recipient cities were Denver, CO (11 grants) and Boulder, CO (9 grants).
Does The Caruso Foundation give general operating support?
Not in 2024: none of the 32 grants with a stated purpose on The Caruso Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Program Funding" (32 grants).
Who are The Caruso Foundation's largest grantees?
The Caruso Foundation's largest 2024 grantees include University of Colorado Foundation ($355,000), University of Chicago Booth School of Business ($250,000) and University of Illinois ($225,000), according to its 2024 IRS Form 990-PF. Together they received 56% of its itemized 2024 grant dollars.
How large is The Caruso Foundation?
The Caruso Foundation reported $41.0M in total assets on its 2024 IRS Form 990-PF. It paid out $1.5M in qualifying distributions that year, against a required minimum of $2.4M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does The Caruso Foundation fund?
No foundation mission is stated in the available information. The 2024 grants show support for organizations with varied missions. See mission & focus areas ↑
How do I apply for a grant from The Caruso Foundation?
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Caruso Foundation's EIN?
The Caruso Foundation's EIN (Employer Identification Number) is 84-1559444. IRS Form 990 filing data is available on this page for 2020–2024.
Does The Caruso Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 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 Caruso Foundation funder profile. GrantGraph. Retrieved October 10, 2026, from https://grantable.co/funders/the-caruso-foundation-morg_6532d17787794d94ba608bd8eb92cd6a
BibTeX
@misc{grantable_841559444_2026,
author = {{Grantable}},
title = {{The Caruso Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-caruso-foundation-morg_6532d17787794d94ba608bd8eb92cd6a},
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 Caruso 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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