The Irving Penn Foundation
The Irving Penn Foundation is a private foundation, based in New York, NY. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $152.6M in total assets. In 2024, it awarded 1 grant totaling $1.4M. Net investment income was $364K.
The Irving Penn Foundation at a glance
In short: The Irving Penn Foundation gave $1.4M across 1 grant in 2024 (avg $1.4M), mostly in New York. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $1,370,000
- +10.0% vs 2023
- Grants made (2024)
- 1
- +0.0% vs 2023
- Average grant
- $1,370,000
- +10.0% vs 2023
- Median grant
- $1,370,000
- Total assets
- $152,583,359
- -0.8% vs 2023
- Primary geography
- New York (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who The Irving Penn Foundation funds
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was Metropolitan Museum of Art ($1.4M).
Grant Size Distribution
6 grants across all recorded years
The most common grant size was in the $1–5M range: 4 grants of 6 (67%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
States
Cities
How The Irving Penn Foundation gives
- Giving fell 56% from 2021 to 2024. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2024, annual grant giving ranged from $1.2M (2022) to $3.1M (2021). In 2024 it made 1 grant totaling $1.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Metropolitan Museum of Art New York, NY | To promote appreciation and understanding of fine arts (see attachment) | $1,370,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income |
|---|---|---|---|---|---|---|---|
| 2024 | $152,583,359 | $758,086 | $3,086,314 | $1,370,000 | 1 | $2,676,010 | $364,182 |
| 2023 | $153,762,519 | $842,083 | $2,816,221 | $1,245,000 | 1 | $2,453,397 | $500,204 |
| 2022 | $154,769,496 | $2,417,509 | $3,002,497 | $1,240,000 | 1 | $2,573,624 | $1,881,272 |
| 2021 | $154,537,024 | $1,427,527 | $4,853,568 | $3,135,000 | 3 | $4,372,244 | $1,130,488 |
Leadership & Key People
Officers and directors from IRS filings
The Irving Penn Foundation is led by Tom Penn, Director, President & Chair on every filing since 2021; 1 of 4 officers listed in 2024 is compensated.
Officers on the 2024 filing
Tom Penn
Director, President & Chair
On filings since 2021
40 hrs/week
$221K (2021) → $290K (2024)
Arnie Herrmann
Director, Secretary & Treasurer
On filings since 2021
1 hr/week
No compensation reported
Elizabeth Broun
Director
On filings since 2021
1 hr/week
No compensation reported
Lennart Durehed
Director
On filings since 2021
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2021–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $290K, to Tom Penn (Director, President & Chair).
Frequently asked questions about The Irving Penn Foundation
How much does The Irving Penn Foundation give each year?
The Irving Penn Foundation gave $1.4M across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.2M across 1 grant.
How large is The Irving Penn Foundation?
The Irving Penn Foundation reported $152.6M in total assets on its 2024 IRS Form 990-PF. Its revenue that year was $758K.
Where does The Irving Penn Foundation operate?
The Irving Penn Foundation has awarded grants in District of Columbia, New York.
What is The Irving Penn Foundation's EIN?
The Irving Penn Foundation's EIN (Employer Identification Number) is 20-2649118. IRS Form 990 filing data is available on this page for 2021–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2024
Live grants for the work The Irving Penn Foundation funds
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