The Drexel Fund is a nonprofit venture philanthropy fund focused on education. Founded in 2015, the organization invests in entrepreneurs and schools to launch and scale pioneering private schools in underserved communities. The fund operates with a staff of approximately 5-6 employees and is headquartered in Seattle, Washington, with a registered office in South Bend, Indiana.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$3.7M
-8.7% YoY
Grant Count
55
+37.5% YoY
Avg Grant Size
$68K
-33.6% YoY
Mission & Focus Areas
The Drexel Fund envisions a future where a diverse and accessible private sector becomes the engine for excellence and innovation in education through the growth of academically strong schools with strong character development focus across diverse education models and student bodies.
The organization's primary focus areas include:
- Seed Stage Support: Attracting new, entrepreneurial talent to the private school sector through events and trainings to inspire and educate entrepreneurs at the earliest stages of exploration
- Founders Program: A one-year fellowship supporting outstanding leaders planning to launch innovative and effective private schools
- School Startup Grants: Multi-year investments for brand new private schools meeting the fund's investment criteria
- School Support: Start-up grants, seed grants, network grants, learning plan expenses, founders program expenses, and planning grants
Grantmaking
The Drexel Fund does not accept unsolicited applications. Grantmaking is invitation-only. The organization conducts information sessions for first-time private school founders interested in learning about school development fundamentals and available support opportunities.
Grant Range
$60,000
How to Apply
**
Ready to take the next step with The Drexel Fund?
Geographic Focus
Where this funder awards grants
The Drexel Fund's Founders Program targets the following states: Arizona, Florida, Indiana, Louisiana, North Carolina, Ohio, Tennessee, and Wisconsin. Grant-making priorities also emphasize Florida, Ohio, and Wisconsin.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Giving (2023)
- Total assets: $17.5 million
- Total revenues: $5.2 million
- Total expenses: $3.5 million
- Annual giving rate: 38.4% of assets
Historical Assets
- 2024 filing: $21.5 million in total assets
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
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
181 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Mark Gleason — Managing Partner
- Previously served as head of Philadelphia School Partnership for 10 years, where the organization raised more than $120 million to invest in 70 public and private schools
- Prior experience includes partnership development at Cristo Rey Prep School in Newark, NJ, and service as a member and four-year president of the South Orange-Maplewood Board of Education
- Background as reporter, editor, and publisher; co-founded literary entertainment magazine Book
- Education: Georgetown University and Northwestern University
Naomi DeVeaux — Partner
- Joined The Drexel Fund in 2024
- Previously a partner at the National Charter Schools Institute
- Former teacher and advocate in DC public charter schools; served at the DC Public Charter School Board
- Board chair of DC Bilingual Public Charter School; board member of Diverse by Design Charter School Coalition
- Member of the Center for Learner Equity
- Education: BA from Reed College, MA from CSU Long Beach; Fulbright scholar and Aspen-Pahara fellow
Additional Leadership
- Darren Jackson: Founding Director
- Heather Bokon: Director of Operations
- Christopher Wilson: Board Member
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BJ CASSIN | CHAIRMAN EMERITUS | 2 | — |
| THOMAS J HEALEY | TREASURER | 2 | — |
| NICK HOWLEY | TRUSTEE | 2 | — |
| DARREN JACKSON | SECRETARY | 2 | — |
| MICHAEL MESSNER | TRUSTEE | 2 | — |
| DARLA ROMFO | TRUSTEE | 2 | — |
| ABIGAIL SCHUMWINGER | TRUSTEE | 2 | — |
| CHRISTOPHER WILSON | TRUSTEE | 2 | — |
| JOHN ERIKSEN | CHAIRMAN | 40 | $275,783 |
| MARK GLEASON | MANAGING PARTNER | 40 | $240,000 |
Recent News & Activity
Recent developments and announcements
The Drexel Fund conducts regular information sessions for prospective private school founders. The organization offers virtual sessions at 7:00 pm ET on Zoom, with sessions scheduled throughout the year. These sessions are designed specifically for entrepreneurs seeking to start new schools rather than educators looking to replicate or improve existing schools.
These Schools Are Seeing a January Enrollment Surge - FEE.orgSubject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
Lupke Foundation Inc Agency
FORT WAYNE, IN
Assets
$1.4M
Grants
22
Total Given
$76K
Harold Ellison Tuw for Jones Cemetery 002189
MUNCIE, IN
Assets
$442K
Grants
1
Total Given
$9K
John Carroll Club of South Bend Inc
SOUTH BEND, IN
Assets
—
Grants
1
Total Given
$220K
Buchanan-clements Foundation Inc
COLUMBUS, IN
Assets
$261K
Grants
3
Total Given
$16K
Harold Ellison Scholarship Fund 002188
MUNCIE, IN
Assets
$1.1M
Grants
1
Total Given
$62K
Alatash Foundation Inc
DYER, IN
Assets
$15K
Grants
0
Total Given
—
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with The Drexel Fund 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