The Garatoni-smith Family Foundation
The Garatoni-Smith Family Foundation is a private family foundation based in Mishawaka, Indiana. Established in 2008, the foundation operates as a 501(c)(3) organization and functions as a grantmaking foundation that relies on investment assets to generate income for charitable distributions.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$51.9M
+18.1% YoY
Annual Giving
$3.2M
+107.8% YoY
Grant Count
38
+22.6% YoY
Avg Grant Size
$84K
+69.5% YoY
Under IRS private-foundation payout rules, The Garatoni-smith Family Foundation reported a distributable amount of $2.3M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation makes contributions exclusively to tax-exempt 501(c)(3) public charities. Primary funding interests include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
Grantmaking
The foundation holds only investment assets and generates charitable expenditures from investment income.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Indiana, Michigan, and Virginia.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $43,977,223
- Total Revenue: $1,549,558
- Total Expenses: $1,889,597
- Total Liabilities: $1,470,000
As of 2024:
- Total Assets: $51,949,068
- Total Giving: $3,178,792
The foundation operates with no employees and relies on investment income to support its grantmaking activities.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $51,949,068 | $43,977,223 | $48,452,253 |
| Revenue | $12,408,483 | $1,549,558 | $1,280,940 |
| Expenses | $3,475,264 | $1,889,597 | $1,525,586 |
| Qualifying Distributions | $3,178,792 | $1,529,690 | $1,355,070 |
| Net Investment Income | $1,408,744 | $1,206,473 | $1,123,744 |
| Distributable Amount | $2,283,255 | $2,197,475 | $2,323,436 |
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
168 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Career Academy ($1,329,142), Rise ($546,500), Ivy Tech Fdn ($273,500).
| Recipient | Purpose | Amount |
|---|---|---|
| ANNUAL BISHOP APPEAL FORT WAYNE, IN | GENERAL CHARITABLE GIFT | $100,000 |
| BOYS AND GIRLS CLUB SOUTH BEND, IN | GENERAL CHARITABLE GIFT | $31,000 |
| CAREER ACADEMY SOUTH BEND, IN | GENERAL CHARITABLE GIFT | $1,329,142 |
| CULTIVATE CULINARY SOUTH BEND, IN | GENERAL CHARITABLE GIFT | $230,000 |
| E3 ROBOTICS ELKHART, IN | GENERAL CHARITABLE GIFT | $1,500 |
| FOOD BANK OF NORTHERN INDIANA SOUTH BEND, IN | GENERAL CHARITABLE GIFT | $15,000 |
| FOP LODGE 155 SOUTH BEND, IN | GIFT | $250 |
| GARATONI SMITH SCHOLARSHIP MISHAWAKA, IN | GENERAL CHARITABLE GIFT | $251,500 |
| GENTLEMEN AND SCHOLARS SOUTH BEND, IN | GENERAL CHARITABLE GIFT | $500 |
| GREATER HOLY TEMPLE SOUTH BEND, IN | GENERAL CHARITABLE GIFT | $600 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LAWRENCE H GARATONI | TRUSTEE | 2 | — |
| MICHAEL GARATONI | TRUSTEE | 2 | — |
| SHANE FIMBEL | TRUSTEE | 2 | — |
| SUSAN FORD | TRUSTEE | 2 | — |
| PAM VELDMAN | TRUSTEE | 2 | — |
| MARY HUNT | TRUSTEE | 2 | — |
| STEVE WHEATLEY | EXECUTIVE VICE PRESIDENT | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Garatoni-smith Family Foundation fund?
The foundation makes contributions exclusively to tax-exempt 501(c)(3) public charities. Primary funding interests include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services
How do I apply for a grant from The Garatoni-smith Family Foundation?
The foundation holds only investment assets and generates charitable expenditures from investment income. **Grant Activity:** • Made 45 grants in 2023 • Total giving: $3,178,792 (2024 filing) • Typical award range: $100–$1,329,142 **Recent Grant Examples (2023):** • Ivy Tech Foundation: $280,200 • Cultivate Food Rescue: $200,000 • Triangle Education Foundation: $150,000
Where does The Garatoni-smith Family Foundation make grants?
The foundation primarily funds organizations in Indiana, Michigan, and Virginia.
What size grants does The Garatoni-smith Family Foundation award?
In 2024, The Garatoni-smith Family Foundation awarded 38 grants totaling $3.2M — an average of about $84K per grant, based on its IRS Form 990 filings.
How much is The Garatoni-smith Family Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Garatoni-smith Family Foundation reported a distributable amount of $2.3M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Garatoni-smith Family Foundation's EIN?
The Garatoni-smith Family Foundation's EIN (Employer Identification Number) is 26-2866592. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Garatoni-smith Family Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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