The Michael Cascone Jr & Elizabeth
The Michael Cascone Jr & Elizabeth Belyea Cascone Family Foundation is a private grantmaking foundation established in 2004 and based in Jacksonville, Florida. The foundation operates as a 501(c)(3) organization dedicated to philanthropic giving across multiple sectors.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$9.1M
-0.2% YoY
Annual Giving
$780K
+18.8% YoY
Grant Count
22
-12.0% YoY
Avg Grant Size
$35K
+35.0% YoY
Under IRS private-foundation payout rules, The Michael Cascone Jr & Elizabeth reported a distributable amount of $442K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation supports charitable causes with a demonstrated commitment to education, Catholic institutions, and community organizations. Recent grant activity indicates funding interests in higher education, religious organizations, and social services.
Grantmaking
The foundation made 37 grants in 2024. Recent grant recipients and amounts include:
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Florida, with particular emphasis on the Jacksonville area and Northeast Florida region.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total Assets: $9,059,420
- Total Revenues: $408,180
- Total Expenses: $858,993
- Total Liabilities: $0
As of December 2023:
- Total grants and contributions: $0 (reported)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $9,059,420 | $9,076,582 | $8,859,230 |
| Revenue | $408,180 | $247,650 | $660,388 |
| Expenses | $858,993 | $738,183 | $564,862 |
| Qualifying Distributions | $779,799 | $656,200 | $448,700 |
| Net Investment Income | $328,986 | $183,191 | $572,129 |
| Distributable Amount | $442,233 | $446,149 | $466,206 |
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
155 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Bishop Kenny High School ($499,539), University of North Florida ($75,000), United Way of Northeast Fl ($50,500).
| Recipient | Purpose | Amount |
|---|---|---|
| BISHOP KENNY HIGH SCHOOL JACKSONVILLE, FL | GENERAL FUND | $499,539 |
| BLESSED SACRAMENT ROMAN CATHOLIC CHURCH STOWE, VT | GENERAL FUND | $1,000 |
| CATHOLIC CHARITIES BUREAU INC JACKSONVILLE, FL | GENERAL FUND | $5,000 |
| DIOCESE OF ST AUGUSTINE JACKSONVILLE, FL | GENERAL FUND | $1,200 |
| EQUESTRIAN ORDER OF THE HOLY SEPULCHRE METAIRIE, LA | GENERAL FUND | $11,000 |
| GIRLS INC JACKSONVILLE, FL | GENERAL FUND | $2,500 |
| HARVARD BUSINESS SCHOOL BOSTON, MA | GENERAL FUND | $1,000 |
| HOLY FAMILY CATHOLIC CHURCH JACKSONVILLE, FL | GENERAL FUND | $13,000 |
| JACKSONVILLE UNIVERSITY JACKSONVILLE, FL | GENERAL FUND | $1,000 |
| JOSH HEINZ FOUNDATION JACKSONVILLE, FL | GENERAL FUND | $500 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is named for and reflects the philanthropic values of Michael Cascone Jr. (Bishop Kenny High School class of 1961) and Elizabeth Belyea Cascone (Bishop Kenny High School class of 1964). The couple has six children, three of whom attended Bishop Kenny High School, and ten grandchildren, three of whom have been enrolled at Bishop Kenny.
Michael Cascone Jr. has stated that the family's giving "represents the Catholic social teachings and philanthropic values Bishop Kenny instills in students."
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ELIZABETH B CASCONE | DIRECTOR | 0.5 | — |
| MICHAEL CASCONE JR | DIRECTOR | 0.5 | — |
| STEVEN D CASCONE | DIRECTOR | 0.5 | — |
| ELIZABETH C HIGGS | DIRECTOR | 0.5 | — |
| JULIETTE C GREDENHAG | DIRECTOR | 0.5 | — |
| KATHLEEN D CASCONE | DIRECTOR | 0.5 | — |
| MICHAEL J CASCONE | DIRECTOR | 0.5 | — |
Recent News & Activity
Recent developments and announcements
In February 2022, the Cascone Family Foundation made a lead gift for Phase II of Bishop Kenny High School's 100 Building renovation project. The gift funded the new Center for Family & Consumer Sciences, providing state-of-the-art equipment and technology for students to study family and consumer sciences through practical lab experiences. This gift was made in honor of Elizabeth Belyea Cascone and reflects three generations of the family's connection to the school.
Michael F. Price Memorial Grant from DeGregorio Family Foundation AwardedSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Michael Cascone Jr & Elizabeth fund?
The foundation supports charitable causes with a demonstrated commitment to education, Catholic institutions, and community organizations. Recent grant activity indicates funding interests in higher education, religious organizations, and social services.
How do I apply for a grant from The Michael Cascone Jr & Elizabeth?
The foundation made 37 grants in 2024. Recent grant recipients and amounts include: • Holy Family Catholic Church: $13,000 • University of Notre Dame: $5,000 • Catholic Charities Bureau: $5,000 • United Way of Northeast Florida The foundation distributed $779,799 in total giving according to its most recent filings. In 2008, the foundation made a significant $1 million donation to Jacksonville University for student aid and merit scholarships, described at that time as the largest gift given to…
Where does The Michael Cascone Jr & Elizabeth make grants?
The foundation primarily funds organizations in Florida, with particular emphasis on the Jacksonville area and Northeast Florida region.
What size grants does The Michael Cascone Jr & Elizabeth award?
In 2024, The Michael Cascone Jr & Elizabeth awarded 22 grants totaling $780K — an average of about $35K per grant, based on its IRS Form 990 filings.
How much is The Michael Cascone Jr & Elizabeth required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Michael Cascone Jr & Elizabeth reported a distributable amount of $442K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Michael Cascone Jr & Elizabeth's EIN?
The Michael Cascone Jr & Elizabeth's EIN (Employer Identification Number) is 59-7246237. IRS Form 990 filing data is available on this page for 2020–2024.
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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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