The Masimo Foundation for Ethics, Innovation and Competition in Healthcare is a private charitable foundation established in 2010 and based in Irvine, California. The foundation was created by Masimo Corporation to facilitate its corporate philanthropy efforts. It operates as a 501(c)(3) organization focused on improving patient care and healthcare delivery globally.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$934K
-62.6% YoY
Annual Giving
$3.4M
+38.3% YoY
Grant Count
15
-16.7% YoY
Avg Grant Size
$224K
+65.9% YoY
Under IRS private-foundation payout rules, The Masimo Foundation for Ethics reported a distributable amount of $48K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission is to encourage and promote activities, programs, and research opportunities that improve patient safety and deliver advanced healthcare to people worldwide who may not otherwise have access to lifesaving technologies.
The foundation's primary focus areas include:
- Patient Safety and Outcomes: Supporting research and initiatives designed to improve patient safety and healthcare delivery
- Healthcare Innovation: Funding development initiatives and clinical studies designed to expand the healthcare industry's ability to provide better and more cost-effective solutions and protocols
- Healthcare Ethics: Providing special attention to causes focused on ethical healthcare delivery and doing the right thing for the right reasons
- Healthcare Competition: Supporting efforts designed to create healthy competition, which the foundation believes is the ultimate answer to lower healthcare costs
- Access to Healthcare: Advancing affordable healthcare and access to lifesaving technologies
- Education: Funding scholarships and educational initiatives in healthcare-related fields
Grantmaking
Grant Range
s**: Typical awards range from $10,000 to $1,000,000.
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Geographic Focus
Where this funder awards grants
The foundation funds organizations nationally and internationally, with no stated geographic restrictions. However, the majority of grants support U.S.-based organizations.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending March 2024:
- Total Assets: $933,702
- Total Revenues: $1,837,037
- Total Expenses: $2,865,743
- Total Grants and Contributions: $1,800,000
As of Fiscal Year Ending March 2023:
- Investment Income and Dividends: $50,530
Initial Capitalization (2010):
- Masimo Corporation provided a monetary gift of $10 million and in-kind contributions of pulse oximetry equipment and supplies to support the foundation's efforts during the first quarter of 2010.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $933,702 | $2,498,606 | $3,919,226 |
| Revenue | $1,837,037 | $1,050,530 | $1,000,471 |
| Expenses | $2,865,743 | $1,849,961 | $3,032,214 |
| Qualifying Distributions | $3,408,473 | $2,471,251 | $2,440,178 |
| Net Investment Income | $36,977 | $50,510 | $1,351 |
| Distributable Amount | $48,295 | $152,190 | $286,768 |
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
78 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Oneoc ($1,000,000), California Institutes of Technology ($504,930), Bill Hillary and Chelsea Clinton Foundation ($500,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ONEOC SANTA ANA, CA | GENERAL OPERATIONS | $1,000,000 |
| CHILDREN'S PSC FOUNDATION MENLO PARK, CA | GENERAL OPERATIONS | $50,000 |
| AYENEH FOUNDATION ENCINO, CA | GENERAL OPERATIONS | $100,000 |
| AYENEH FOUNDATION ENCINO, CA | GENERAL OPERATIONS | $100,000 |
| BILL HILLARY AND CHELSEA CLINTON FOUNDATION LITTLE ROCK, AR | GENERAL OPERATIONS | $500,000 |
| SHARESAFE SOLUTIONS LLC MOBILE, AL | CREATION OF VIDEO SERIES RE PATIENT SAFETY AND PREVENTION OF HOSPITAL ACQUIRED CONDITIONS. | $250,000 |
| THE BRETT TASHMAN FOUNDATION UPLAND, CA | GENERAL OPERATIONS | $25,000 |
| THE CARTER CENTER ATLANTA, GA | GENERAL OPERATIONS | $99,000 |
| ANAHEIM COMMUNITY FOUNDATION ANAHEIM, CA | GENERAL OPERATIONS | $20,000 |
| FOUNDATION FOR ANESTHESIA EDUCATION & RESEARCH SCHAUMBERG, IL | GENERAL OPERATIONS | $50,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Joe Kiani - Founder and Chief Executive Officer of Masimo Corporation; serves as Chairman of The Masimo Foundation
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOE KIANI | CHAIRMAN | 0.5 | — |
| FREDERICK HARRIS | DIRECTOR | 0.25 | — |
| SARAH KIANI | DIRECTOR | 0.25 | — |
| STEVE JENSEN | DIRECTOR | 0.25 | — |
| TOM MCCLENAHAN | SECRETARY | 0.05 | — |
| MICAH YOUNG | TREASURER | 0.1 | — |
Recent News & Activity
Recent developments and announcements
The foundation was formally established in April 2010 with significant initial funding from Masimo Corporation. Recent grant activity demonstrates continued commitment to healthcare innovation and education, with substantial grants to organizations like OneOC and educational institutions such as the California Institute of Technology.
Masimo Establishes Non-Profit Foundation to Promote Ethics, Innovation, andSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Masimo Foundation for Ethics fund?
The foundation's mission is to encourage and promote activities, programs, and research opportunities that improve patient safety and deliver advanced healthcare to people worldwide who may not otherwise have access to lifesaving technologies. The foundation's primary focus areas include: • **Patient Safety and Outcomes**: Supporting research and initiatives designed to improve patient safety and healthcare delivery • **Healthcare Innovation**: Funding development initiatives and clinical studi…
How do I apply for a grant from The Masimo Foundation for Ethics?
**Grant Sizes**: Typical awards range from $10,000 to $1,000,000. **Recent Grant Activity** (Fiscal Year Ending March 2024): • OneOC: $1,000,000 (General Operations) • California Institute of Technology: $504,930 (Funding for Scholarships) • OneOC: $500,000 (General Operations) **Total Giving**: $590,000 to $2,865,743 in annual expenses (as of most recent filings) **Grantee Profile**: The foundation prioritizes large or well-established universities and medical institutes. It supports a broad r…
Where does The Masimo Foundation for Ethics make grants?
The foundation funds organizations nationally and internationally, with no stated geographic restrictions. However, the majority of grants support U.S.-based organizations.
What size grants does The Masimo Foundation for Ethics award?
In 2024, The Masimo Foundation for Ethics awarded 15 grants totaling $3.4M — an average of about $224K per grant, based on its IRS Form 990 filings.
How much is The Masimo Foundation for Ethics required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Masimo Foundation for Ethics reported a distributable amount of $48K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Masimo Foundation for Ethics's EIN?
The Masimo Foundation for Ethics's EIN (Employer Identification Number) is 01-0956020. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Masimo Foundation for Ethics'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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