The Joseph B Glossberg Foundation
The Joseph B Glossberg Foundation is a private independent foundation established in 1997 and based in Chicago, Illinois. The foundation operates as a 501(c)(3) organization classified as a private foundation under the National Taxonomy of Exempt Entities (NTEE). It functions as a grantmaking foundation supporting various charitable causes through philanthropic contributions.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$181K
-1.7% YoY
Grant Count
68
-26.9% YoY
Avg Grant Size
$3K
+34.4% YoY
Mission & Focus Areas
The foundation gives primarily for:
- Higher education
- The humanities
- Athletic programs
- Libraries
- Youth music education
- Music programs
- Human services
Grantmaking
The foundation made 82 grants in 2024. Recent grants include:
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Illinois, with particular emphasis on Chicago-based institutions. However, grants extend beyond Illinois, as evidenced by support for the University of Pennsylvania.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
2024 Financial Summary
| Metric | Amount |
|---|---|
| Total Revenue | $205,605 |
| Total Expenses | $184,794 |
| Net Income | $20,811 |
| Total Assets | $157,175 |
| Total Liabilities | $0 |
Revenue Breakdown (2024)
| Source | Amount |
|---|---|
| Grants and contributions | $177,327 |
| Investment income and dividends | $1,681 |
| Net gain from sale of non-inventory assets | $26,597 |
Year-over-Year Comparison (2023-2024)
- Grants and contributions increased 18.2% (from $150,000 in 2023 to $177,327 in 2024)
- Investment income declined 37% (from $2,667 in 2023 to $1,681 in 2024)
Historical Assets
The foundation's assets have fluctuated over time. As of 2003, total assets were valued at $4,168,000, indicating significant changes in asset levels over the past two decades.
| 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
246 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
Joseph B. Glossberg — Founder and Library Overseer
Joseph B. Glossberg is a Wharton School alumnus (Bachelor's degree 1963, MBA 1965) and general partner at Gofen & Glossberg, Inc., an investment counseling firm he joined in 1965. He has served on multiple boards including:
- Chicago Symphony Orchestra
- Jazz Institute of Chicago
- Merit School of Music
- University of Pennsylvania Board of Trustees (10 years) and Investment Board (17 years)
- Knox College Board of Trustees (12+ years)
Glossberg created the Joseph B. Glossberg Fund at the University of Pennsylvania Libraries to support music collection development, with particular focus on jazz recordings. He also funded the Lippincott Library seminar room at Penn, which bears his name.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOSEPH B GLOSSBERG | PRESIDENT, TREASURER, DIR. | 0.4 | — |
| MADELINE KB GLOSSBERG | SECRETARY, VICE-PRES, DIR. | 0.01 | — |
| JOHN C STIEFEL | VICE-PRESIDENT, DIRECTOR | 0.01 | — |
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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