The Michael and Karen Stone Family
The Michael and Karen Stone Family is a private foundation based in Wilmington, Delaware. In 2024, it reported 38 grants totaling $2,850,500 to charitable organizations, including universities, schools, arts and children’s organizations, and environmental groups.
Key facts about The Michael and Karen Stone Family
In short: The Michael and Karen Stone Family gave $2.9M across 38 grants in 2024 (avg $75K), top state North Carolina. 28% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 05-0544633
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $2,850,500
- Grants made (2024)
- 38
- Average grant
- $75,013
- Median grant
- $25,000
- New grantees (estimate)
- 28% first-time grantees (8 of 29, 2024)
- Total assets
- $63,312,311
- Primary geography
- North Carolina (44% of itemized 2024 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation does not accept unsolicited requests for funds and states that it makes contributions only to preselected charitable organizations. Full details ↓
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$63.3M
+9.0% YoY
Annual Giving
$2.9M
+13.3% YoY
Grant Count
38
+90.0% YoY
Avg Grant Size
$75K
-40.4% YoY
Under IRS private-foundation payout rules, The Michael and Karen Stone Family reported a distributable amount of $3.1M for 2024 — the minimum it must pay out in qualifying distributions.
Is The Michael and Karen Stone Family open to new grantees?
28%
first-time grantees, 2024
In 2024, 8 of 29 grantees (28%) were first-time recipients. First grants averaged $27K; repeat grants $125K. How we count
Medians: $11K first-time, $50K repeat.
- 38% of 2024 grantees were also funded in 2023. Method
- Giving grew 53% from 2021 to 2024. Method
- In 2024 it paid out 93% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2024 grants show support for a range of organizations and purposes. For example, the San Diego Museum of Art says its mission is “to inspire, educate and cultivate curiosity through great works of art,” and Rady Children’s Hospital San Diego says its mission is to enhance children’s health and development through care, education, research, and advocacy. Voices for Children describes its work as providing court-appointed special advocates to abused children. Shelburne Farms says it works to inspire and cultivate learning for a sustainable future, while the Lake Champlain Committee says it protects the lake’s environmental integrity and recreational resources.
Grantmaking
In 2024, the foundation made 38 grants totaling $2,850,500. Grant amounts ranged from $1,000 to $1,150,000, with a median grant of $25,000. The largest grants included $1,150,000 to Duke University for general and unrestricted purposes; $250,000 each to Bishop’s School for its capital campaign, the San Diego Museum of Art for general and unrestricted purposes, and Wilderness Safaris Wildlife Trust for a drought relief food program; and $100,000 each to Rady Children’s Hospital–San Diego for the President’s Fund and Stanford University for general and unrestricted purposes. Other grants included $51,500 to Voices for Children and $50,000 to Camp Southern Ground.
How to Apply
The foundation does not accept unsolicited requests for funds and states that it makes contributions only to preselected charitable organizations.
Ready to take the next step with The Michael and Karen Stone Family?
Geographic Focus
Where this funder awards grants
In 2024, the largest shares of grant dollars went to recipients in North Carolina (44%) and California (32%). Vermont accounted for 5% and Michigan for 4%. The listed grants also include recipients in Georgia, Massachusetts, and other states.
Grant Distribution by State
Share of 2024 grant dollars across all 38 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $1.9M (2021) to $2.9M (2024). In 2024 it made 38 grants totaling $2.9M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Duke University ($1.2M across 3 grants). Together the top 10 received $2.5M.
Grant Size Distribution
163 grants across all recorded years
The most common grant size was under $50K: 121 grants of 163 (74%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Duke University Durham, NC | General & Unrestricted | $1,150,000 |
| Bishops School La Jolla, CA | Capital Campaign | $250,000 |
| San Diego Museum of Art San Diego, CA | General & Unrestricted | $250,000 |
| Wilderness Safaris Wildlife Trust | Drought relief food program | $250,000 |
| Rady Childrens Hospital - San Diego San Diego, CA | The President's Fund | $100,000 |
| Stanford University Stanford, CA | General & Unrestricted | $100,000 |
| Harvard Business School Boston, MA | HBS Fund | $62,500 |
| Big Brothers Big Sisters of San Diego County Inc San Diego, CA | General & Unrestricted | $51,500 |
| Shelburne Farms Shelburne, VT | General & Unrestricted | $51,500 |
| Voices for Children San Diego, CA | General & Unrestricted | $51,500 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2024 | $63,312,311 | $8,436,567 | $3,188,352 | $2,850,500 |
| 2023 | $58,068,172 | $7,963,655 | $2,928,737 | $2,515,167 |
| 2022 | $53,031,828 | $5,790,242 | $2,921,475 | $2,492,633 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $63,312,311 | $58,068,172 | $53,031,828 |
| Revenue | $8,436,567 | $7,963,655 | $5,790,242 |
| Expenses | $3,188,352 | $2,928,737 | $2,921,475 |
| Qualifying Distributions | $2,896,298 | $2,560,912 | $2,537,506 |
| Net Investment Income | $5,896,696 | $4,812,005 | $5,541,754 |
| Distributable Amount | $3,111,719 | $2,872,393 | $2,658,895 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Karen M. Stone as director and Michael R. Stone as president, director, and secretary.
The Michael and Karen Stone Family is led by Michael R Stone, President, Director & Secretary on every filing since 2020; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Michael R Stone
President, Director & Secretary
On filings since 2020
1 hr/week
No compensation reported
Karen M Stone
Director
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Mailing address: Foundation Source 501 Silverside Rd, Wilmington, DE 19809-1377
Phone: (800) 839-1754
Frequently asked questions about The Michael and Karen Stone Family
How much does The Michael and Karen Stone Family give each year?
The Michael and Karen Stone Family gave $2.9M across 38 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $2.5M across 20 grants.
What is The Michael and Karen Stone Family's typical grant size?
The Michael and Karen Stone Family's median grant in 2024 was $25,000, and its average grant was $75,013, across 38 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Michael and Karen Stone Family that year got $27K on average.
Where does The Michael and Karen Stone Family give grants?
The Michael and Karen Stone Family's top state is North Carolina, with 44% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest state was California (32%). The most frequent recipient cities were San Diego, CA (6 grants), La Jolla, CA (5 grants), Durham, NC (3 grants) and Ann Arbor, MI (3 grants).
Does The Michael and Karen Stone Family give general operating support?
Yes: 61% of The Michael and Karen Stone Family's 2024 grants with a stated purpose (23 of 38) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are The Michael and Karen Stone Family's largest grantees?
The Michael and Karen Stone Family's largest 2024 grantees include Duke University ($1,245,000 across 3 grants), Bishops School ($312,500 across 3 grants) and San Diego Museum of Art ($250,000), according to its 2024 IRS Form 990-PF. Together they received 63% of its itemized 2024 grant dollars.
How large is The Michael and Karen Stone Family?
The Michael and Karen Stone Family reported $63.3M in total assets on its 2024 IRS Form 990-PF. It paid out $2.9M in qualifying distributions that year, against a required minimum of $3.1M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does The Michael and Karen Stone Family fund?
No mission statement for the foundation is provided. Its 2024 grants show support for a range of organizations and purposes. See mission & focus areas ↑
How do I apply for a grant from The Michael and Karen Stone Family?
The foundation does not accept unsolicited requests for funds and states that it makes contributions only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Michael and Karen Stone Family's EIN?
The Michael and Karen Stone Family's EIN (Employer Identification Number) is 05-0544633. IRS Form 990 filing data is available on this page for 2020–2024.
Does The Michael and Karen Stone Family accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
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