The Karol Fund
The Karol Fund is a private foundation based in Fox Point, Wisconsin. Its 2025 grants supported Catholic institutions, schools, and other organizations, with most grant dollars going to recipients in Wisconsin.
The Karol Fund at a glance
In short: The Karol Fund gave $245K across 13 grants in 2025 (avg $19K), mostly in Wisconsin. 15% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $245,000
- -67.3% vs 2024
- Grants made (2025)
- 13
- -7.1% vs 2024
- Average grant
- $18,846
- -64.8% vs 2024
- Median grant
- $20,000
- Total assets
- $134,210
- +1115.0% vs 2024
- New grantees (estimate)
- 15% first-time grantees (2 of 13, 2025; small sample)
- Primary geography
- Wisconsin (88% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Karol Fund
- How to Apply
-
The fund accepts applications. The filing says applications should be typed and include the name, address, and phone number of the individual submitting the request. Applications should be directed to Edward P Mooney Jr. Grants are restricted as described in the Overview.
- Contact
Application contact: Edward P Mooney Jr
Mailing address: 7038 North Beach Drive, Fox Point, WI 53217
Phone: (414) 228-5124
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Karol Fund funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Archdiocese of Milwaukee - Stewardship Appeal ($40K). Together the top 10 received $190K.
Organizations only. It also paid 1 grant to individuals ($50,000), which are not listed by name.
Grant Size Distribution
69 grants across all recorded years
The most common grant size was under $50K: 62 grants of 69 (90%).
Geographic Focus
Where this funder awards grants
In 2025, 88% of grant dollars went to recipients in Wisconsin, 10% to Massachusetts, and 2% to Pennsylvania.
Grant Distribution by State
Share of 2025 grant dollars across all 13 itemized grants.
Cities
Is The Karol Fund open to new grantees?
15%
first-time grantees, 2025
In 2025, 2 of 13 grantees (15%) were first-time recipients. With only 13 grantees, that is a small sample: one grantee more or less moves the share by about 8 points. First grants averaged $18K; repeat grants $19K. How we count
Medians: $18K first-time, $20K repeat.
- 77% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−1%). Method
- In 2025 it paid out well above its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $185K (2020) to $750K (2024). In 2025 it made 13 grants totaling $245K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 1 grant to individuals Recipients not named | — | $50,000 |
| Archdiocese of Milwaukee - Stewardship Appeal Milwaukee, WI | Annual Support | $40,000 |
| Archdiocese of Milwaukee - Love One Another Capital Campaign Milwaukee, WI | Annual Support | $30,000 |
| Boston College - Institute for Advanced Jesuit Studies Chestnut Hill, MA | Annual Support | $25,000 |
| Seton Catholic Schools Milwaukee, WI | Annual Support | $25,000 |
| Milwaukee Catholic Home Milwaukee, WI | Annual Support | $25,000 |
| Divine Savior Holy Angels - Forward in Faith Capital Campaign Milwaukee, WI | Annual Support | $20,000 |
| Archdiocese of Milwaukee - Catholic Schools Dinner Milwaukee, WI | Annual Support | $10,000 |
| Greensburg Central Catholic School Greensburg, PA | Annual Support | $5,000 |
| St Josephat Basilica Foundation Milwaukee, WI | Annual Support | $5,000 |
Ready to take the next step with The Karol Fund?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $134,210 | $380,059 | $247,150 | $245,000 | 13 | $246,075 | $26,754 | $1,714 |
| 2024 | $11,046 | $922,696 | $752,100 | $750,000 | 14 | $751,050 | $295,094 | $14,008 |
| 2023 | $116,943 | $154,661 | $257,000 | $255,000 | 13 | $256,000 | $153,661 | $9,643 |
| 2022 | $235,026 | $54,492 | $249,400 | $247,500 | 16 | $248,450 | $53,542 | $24,200 |
| 2021 | $392,491 | $4,862 | $232,075 | $230,500 | 13 | $231,288 | $4,075 | $37,211 |
| 2020 | $647,895 | $311,120 | $186,550 | $185,000 | 11 | — | $71,615 | $30,259 |
Under IRS private-foundation payout rules, The Karol Fund reported a distributable amount of $2K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the fund is provided. Its 2025 grants went to Catholic institutions and schools, as well as organizations including Milwaukee Catholic Home, Milwaukee Rescue Mission, and Women’s Support Center of Milwaukee. Milwaukee Catholic Home describes its own mission as providing continuing care services for older adults, rooted in its Catholic tradition and commitment to Christian love and community.
Grantmaking
In 2025, the fund awarded 13 grants totaling $245,000. Grants ranged from $2,500 to $50,000, with a median of $20,000. The largest grants included $50,000 to St Francis de Sales Seminary for annual support, $40,000 to the Archdiocese of an individual recipient, $30,000 to the Archdiocese of Milwaukee’s Love One Another Capital Campaign, and $25,000 each to Boston College’s Institute for Advanced Jesuit Studies, Seton Catholic Schools, and Milwaukee Catholic Home. The filing lists each grant’s purpose as annual support.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Edward P Mooney Jr and Bridie Ann Mooney as trustees.
The Karol Fund's 2025 filing lists 2 officers; none of the 2 officers listed in 2025 report compensation.
Officers on the 2025 filing
Bridie Ann Mooney
Trustee
On filings since 2020
0.5 hrs/week
No compensation reported
Edward P. Mooney Jr.
Trustee
On filings since 2020
0.5 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Karol Fund
How much does The Karol Fund give each year?
The Karol Fund gave $245K across 13 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $750K across 14 grants.
What is The Karol Fund's typical grant size?
The Karol Fund's median grant in 2025 was $20,000, and its average grant was $18,846, across 13 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Karol Fund that year got $18K on average.
Where does The Karol Fund give grants?
The Karol Fund gives mostly in Wisconsin: 88% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Massachusetts (10%). The most frequent recipient cities were Milwaukee, WI (10 grants).
Does The Karol Fund give general operating support?
Not in 2025: none of the 13 grants with a stated purpose on The Karol Fund's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Annual Support" (13 grants).
Who are The Karol Fund's largest grantees?
The Karol Fund's largest 2025 grantees include Archdiocese of Milwaukee - Stewardship Appeal ($40,000), Archdiocese of Milwaukee - Love One Another Capital Campaign ($30,000) and Boston College - Institute for Advanced Jesuit Studies ($25,000), according to its 2025 IRS Form 990-PF. It also paid 1 grant to individuals ($50,000), which are not listed by name. Together they received 39% of its itemized 2025 grant dollars.
How large is The Karol Fund?
The Karol Fund reported $134K in total assets on its 2025 IRS Form 990-PF. It paid out $246K in qualifying distributions that year, against a required minimum of $2K (roughly 5% of its investment assets).
What does The Karol Fund fund?
No mission statement for the fund is provided. Its 2025 grants went to Catholic institutions and schools, as well as organizations including Milwaukee Catholic Home, Milwaukee Rescue Mission, and Women’s Support Center of Milwaukee. See mission & focus areas ↑
How do I apply for a grant from The Karol Fund?
The fund accepts applications. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Karol Fund's EIN?
The Karol Fund's EIN (Employer Identification Number) is 20-0350673. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 4, 2026)
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). The Karol Fund funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/the-karol-fund-morg_dade8641a63c40df855cde0c2a7229cd
BibTeX
@misc{grantable_200350673_2026,
author = {{Grantable}},
title = {{The Karol Fund funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-karol-fund-morg_dade8641a63c40df855cde0c2a7229cd},
note = {Accessed 2026-10-14. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from The Karol Fund's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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