The Dr M Lee Pearce Foundation Inc
The Dr. M. Lee Pearce Foundation, Inc. is a private grant-making foundation established in 1984 by M. Lee Pearce, M.D., J.D. (December 22, 1930–October 12, 2017), a philanthropist, entrepreneur, and business executive. Based in Miami Beach, Florida, the Foundation is organized as a 501(c)(3) private foundation. Dr. Pearce personally managed the Foundation for over 30 years, making donations to more than 52 different organizations worldwide before his passing in 2017. Following his death, the bulk of his assets from his successful business ventures were transferred to the Foundation, with management transitioning to a Board of Directors largely selected by Dr. Pearce himself.
Key facts about The Dr M Lee Pearce Foundation Inc
- EIN
- 59-2424272
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $5,057,350
- Grants made (2024)
- 13
- Average grant
- $389,027
- Median grant
- $300,000
- New grantees (estimate)
- 38% first-time grantees (5 of 13, 2024)
- Total assets
- $174,304,900
- Primary geography
- New York (28% of itemized 2024 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The Foundation does not accept unsolicited proposals for grants. Full details ↓
Data from IRS Form 990-PF, 2024; updated September 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.
Who The Dr M Lee Pearce Foundation Inc funds
By grant dollars, the top recipient states for The Dr M Lee Pearce Foundation Inc's 13 itemized 2024 grants were New York (28%), Massachusetts (20%) and Florida (16%). The most frequent recipient cities were New York, NY (2 grants) and Miami Beach, FL (2 grants). 38% of grants with a stated purpose were for general or operating support. Recurring purposes include "Medical Research" (3 grants).
Is The Dr M Lee Pearce Foundation Inc open to new grantees?
38%
first-time grantees, 2024
In 2024, 5 of 13 grantees (38%) were first-time recipients. First grants averaged $341K; repeat grants $419K. How we count
Medians: $300K first-time, $350K repeat.
- 54% of 2024 grantees were also funded in 2023. Method
- Giving grew 654% from 2021 to 2024. Method
- In 2024 it paid out 132% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with The Dr M Lee Pearce Foundation Inc
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$174.3M
+372.7% YoY
Annual Giving
$5.1M
+232.6% YoY
Grant Count
13
+62.5% YoY
Avg Grant Size
$389K
+104.7% YoY
Under IRS private-foundation payout rules, The Dr M Lee Pearce Foundation Inc reported a distributable amount of $4.3M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Foundation is dedicated to providing philanthropic grants to organizations with projects in two primary areas:
Medical Research
The Pearce Foundation provides grants to help close the healthspan-lifespan gap by supporting translational research on age-associated chronic diseases and conditions. The Foundation supports translational diagnostic and therapeutic work on age-associated chronic diseases and conditions along all stages of the translational research pipeline, with a focus on initiatives that have great promise to provide breakthroughs in clinical practice. The Foundation also supports improvements in patient data collection and the use of artificial intelligence in analyzing that data, recognizing that translational research benefits from patient feedback and is not strictly linear.
Music
The Pearce Foundation makes grants to institutions for exemplary production and performance-centered projects featuring classical music and opera, primarily from the 18th and 19th centuries. Grants in this area are made when projects also model one or more strategies to strengthen institutions and achieve financial sustainability for future generations, such as:
- Leveraging collaborative partnerships and sharing significant lessons learned with colleagues across the field
- Providing professional development for the next generation of artists, technical staff, and related professionals
Grantmaking
How to Apply
**
Ready to take the next step with The Dr M Lee Pearce Foundation Inc?
Geographic Focus
Where this funder awards grants
The Foundation's grant-making focuses primarily in Florida, New York, and Ohio, though it has historically supported organizations around the world.
Grant Distribution by State
Share of all 13 itemized 2024 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
Assets and Giving (2023)
- Total assets: $36,872,446
- Total revenues: $1,445,281
- Total expenses: $2,178,879
- Number of employees: 0
Assets and Giving (2024)
- Total assets: $174,304,900
- Total giving: $5,057,350
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $174,304,900 | $36,872,446 | $37,140,879 |
| Revenue | $138,251,674 | $1,445,281 | $20,702,755 |
| Expenses | $6,077,577 | $2,178,879 | $1,274,876 |
| Qualifying Distributions | $5,623,124 | $1,904,242 | $1,027,627 |
| Net Investment Income | $4,657,799 | $1,151,351 | $468,231 |
| Distributable Amount | $4,272,596 | $1,858,464 | $1,592,171 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
42 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Harvard Medical School ($999,350), Mayo Clinic ($600,000), Opera America ($500,000).
| Recipient | Purpose | Amount |
|---|---|---|
| HARVARD MEDICAL SCHOOL Boston, MA | MEDICAL RESEARCH | $999,350 |
| MAYO CLINIC Rochester, MN | MEDICAL RESEARCH | $600,000 |
| OPERA AMERICA New York, NY | GENERAL SUPPORT | $500,000 |
| THE METROPOLITAN OPERA ASSOCIATION New York, NY | GENERAL SUPPORT | $500,000 |
| THE FEINSTEIN INSTITUTES FOR MEDICAL RESEARCH Manhasset, NY | QUALITY OF HUMAN LIFE SURVEY PROGRAM | $425,000 |
| NEW WORLD SYMPHONY Miami Beach, FL | WALLCAST CONCERT SERIES | $400,000 |
| NORTHWESTERN UNIVERSITY Evanston, IL | SCHOLARSHIP SUPPORT | $300,000 |
| THE CLEVELAND ORCHESTRA Cleveland, OH | FLORIDA RESIDENCY | $300,000 |
| THE SPHINX ORGANIZATION Detroit, MI | GENERAL SUPPORT | $300,000 |
| THE WASHINGTON NATIONAL OPERA Washington, DC | PROGRAM SUPPORT | $300,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
The Foundation is managed by a Board of Directors, most of whom were personally selected by Dr. M. Lee Pearce before his death in 2017.
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Michael a Carpenter | Chair, Pres. & Director | 5 | $21,500 |
| Robert Potts | Vice President & Director | 3 | $14,000 |
| Jeffrey W Bolton | Treasurer, Director | 3 | $13,000 |
| Patricia E Hopkins | Secretary | 1 | $2,500 |
| Scott a Kent | Assistant Treasurer | 1 | $2,500 |
| Susan Feder | Director | 2 | $8,000 |
| Yulieth Franco | Director | 2 | $8,000 |
| Joseph B Martin | Director | 2 | $7,000 |
| Tatjana Rundek MD PHD | Director | 2 | $9,000 |
| Marc Scorca | Director | 2 | $8,000 |
| Andre Terzic MD PHD | Director | 2 | $8,000 |
| Mark Volpe | Director | 2 | $8,000 |
Recent News & Activity
Recent developments and announcements
The Foundation has continued its support for medical research and music initiatives. In 2025, the Foundation provided a $300,000 grant to OPERA America to support 14 opera companies testing audience retention strategies, demonstrating ongoing commitment to strengthening music institutions and achieving financial sustainability in the field.
2025 Grantees | A/B Testing Grants | OPERA AmericaFrequently Asked Questions
What does The Dr M Lee Pearce Foundation Inc fund?
The Foundation is dedicated to providing philanthropic grants to organizations with projects in two primary areas: **Medical Research** The Pearce Foundation provides grants to help close the healthspan-lifespan gap by supporting translational research on age-associated chronic diseases and conditions. The Foundation supports translational diagnostic and therapeutic work on age-associated chronic diseases and conditions along all stages of the translational research pipeline, with a focus on in…
How do I apply for a grant from The Dr M Lee Pearce Foundation Inc?
The Foundation does not accept unsolicited proposals for grants. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
Where does The Dr M Lee Pearce Foundation Inc make grants?
The Foundation's grant-making focuses primarily in Florida, New York, and Ohio, though it has historically supported organizations around the world.
What size grants does The Dr M Lee Pearce Foundation Inc award?
In 2024, The Dr M Lee Pearce Foundation Inc awarded 13 grants totaling $5.1M — an average of about $389K per grant, based on its IRS Form 990 filings.
How much is The Dr M Lee Pearce Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Dr M Lee Pearce Foundation Inc reported a distributable amount of $4.3M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Dr M Lee Pearce Foundation Inc's EIN?
The Dr M Lee Pearce Foundation Inc's EIN (Employer Identification Number) is 59-2424272. IRS Form 990 filing data is available on this page for 2020–2024.
Does The Dr M Lee Pearce Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.