The Palette Fund Inc
The Palette Fund Inc is a private independent foundation based in Provincetown, Massachusetts, established in 2008. The organization is dedicated to breaking down barriers and advancing social change in communities that are under-resourced and facing significant challenges. The foundation operates as a 501(c)(3) tax-exempt organization with a staff of one full-time employee.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$10.3M
-3.0% YoY
Annual Giving
$474K
-24.8% YoY
Grant Count
12
-33.3% YoY
Avg Grant Size
$40K
+12.8% YoY
Under IRS private-foundation payout rules, The Palette Fund Inc reported a distributable amount of $502K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Palette Fund's mission is to break down barriers and advancing social change in communities that are under-resourced and facing significant challenges. The foundation supports trailblazers creating change throughout the world and places a priority on funding collaborative partnerships among organizations.
Primary funding areas include:
- LGBTQ Causes: The foundation emphasizes youth, health, media, education, advocacy, and community building within the LGBTQ community, aiming to remove barriers the next generation will face along their journey to living healthy and productive lives.
- HIV/AIDS: Support for organizations addressing AIDS and HIV-related services and research.
- Pancreatic Cancer: In honor of co-founder Rand Harlan Skolnick, who died of pancreatic cancer at age 50, a portion of grant making supports patient services and breakthrough discoveries that impact individuals and families facing this disease.
- Local Arts and Culture: Support for local arts and culture organizations in Provincetown, Massachusetts.
- Nutrition and Wellness: General support for nutrition and wellness initiatives.
Grantmaking
The Palette Fund accepts proposals in the form of short videos from organizations working in its areas of interest at any time. Prospective grantees are encouraged to review sample proposal videos on the fund's website.
Grant Range
s and Activity:**
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Geographic Focus
Where this funder awards grants
The foundation supports initiatives across multiple U.S. states including:
- California
- Colorado
- Florida
- Massachusetts
- New York
Specific cities where the foundation supports projects include Boston, Boulder, Fort Lauderdale, Hyannis, Manhattan Beach, New York, and Provincetown. The foundation has a particular commitment to Provincetown, Massachusetts, where it moved its offices in 2016 and focuses on supporting creative ideas and initiatives that address the town's most pressing challenges.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets and Revenue (as of December 2023):
- Total Assets: $10.6 million
- Total Revenues: $326,942
- Total Expenses: $1.17 million
- Total Liabilities: $737,000
Revenue Breakdown (2023):
- Total grants and contributions: $80,300
- Investment income and dividends: $212,436
- Net gain from sale of non-inventory assets: -$195,901
- Miscellaneous revenues: $230,107
Employees: 1 full-time employee (as of 2023)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $10,305,943 | $10,626,655 | $10,280,704 |
| Revenue | $968,240 | $326,942 | $341,146 |
| Expenses | $708,753 | $1,167,890 | $1,473,673 |
| Qualifying Distributions | $285,578 | $536,921 | $749,424 |
| Net Investment Income | $878,126 | $348,772 | — |
| Distributable Amount | $502,479 | $509,164 | $579,473 |
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
110 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include National Black Justice ($200,000), God's Love We Deliver-cont ($105,000), Provincetown Commons ($35,000).
| Recipient | Purpose | Amount |
|---|---|---|
| NATIONAL BLACK JUSTICE NEW YORK, NY | GRANT | $200,000 |
| GOD'S LOVE WE DELIVER-CONT NEW YORK, NY | GRANT | $105,000 |
| PROVINCETOWN COMMONS PROVINCETOWN, MA | GRANT | $35,000 |
| ASPCA NEW YORK, NY | GRANT | $25,000 |
| MIRACLE OF LOVE NEW YORK, NY | GRANT | $25,000 |
| MOVEMENT ADVANCEMENT NEW YORK, NY | GRANT | $25,000 |
| VARIOUS ORG UNDER 5K PROVINCETOWN, MA | GRANT | $18,763 |
| PROSPECT NEW ORLEANS NEW YORK, NY | GRANT | $17,500 |
| NEW ORLEANS MUSEUM NEW YORK, NY | GRANT | $8,000 |
| SUMMER OF SASS NEW YORK, NY | GRANT | $5,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Terrence Meck: President and co-founder; full-time employee with annual compensation of $125,000
- Peter Benassi: Chair; serves in a voluntary capacity
- Kristin Resnansky: Secretary & Treasurer; serves in a voluntary capacity
- Todd Sears: Director; serves in a voluntary capacity
- Blaire Milanese: Director; serves in a voluntary capacity
The foundation was established in 2008 by Terrence Meck and Peter Benassi in honor of Rand Harlan Skolnick. Meck was Skolnick's partner and Benassi was his best friend. Skolnick headed his family's company, Solgar Vitamins and Herbs, and was a philanthropist who supported LGBTQ causes in the U.S. and abroad.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| TERRENCE MECK | PRESIDENT | 40 | $135,417 |
| PETER BENASSI | CHAIR | 1 | — |
| KRISTIN RESNANSKY | SECRETARY & TREASURER | 1 | — |
| TODD SEARS | DIRECTOR | 1 | — |
| BLAIRE MILANESE | DIRECTOR | 1 | — |
Contact Information
- Address: 115 Bradford Street, Provincetown, MA 02657-1430
- Phone: 646-861-3292
- Website: www.thepalettefund.org
- EIN: 26-2736653
- Tax-exempt status: Since September 2008
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Palette Fund Inc fund?
The Palette Fund's mission is to break down barriers and advancing social change in communities that are under-resourced and facing significant challenges. The foundation supports trailblazers creating change throughout the world and places a priority on funding collaborative partnerships among organizations. Primary funding areas include: • **LGBTQ Causes**: The foundation emphasizes youth, health, media, education, advocacy, and community building within the LGBTQ community, aiming to remove …
How do I apply for a grant from The Palette Fund Inc?
The Palette Fund accepts proposals in the form of short videos from organizations working in its areas of interest at any time. Prospective grantees are encouraged to review sample proposal videos on the fund's website. **Grant Sizes and Activity:** • Typical awards range from $5,000 to $325,000 • Total giving in 2024: $474,263 • Recent grants (2023) include: • Provincetown Commons: $81,000 • Provincetown Film Society: $25,000 • Ali Forney Center (AFC): $5,500 **Approach to Grantmaking:** The f…
Where does The Palette Fund Inc make grants?
The foundation supports initiatives across multiple U.S. states including: • California • Colorado • Florida • Massachusetts • New York Specific cities where the foundation supports projects include Boston, Boulder, Fort Lauderdale, Hyannis, Manhattan Beach, New York, and Provincetown. The foundation has a particular commitment to Provincetown, Massachusetts, where it moved its offices in 2016 and focuses on supporting creative ideas and initiatives that address the town's most pressing challen…
What size grants does The Palette Fund Inc award?
In 2024, The Palette Fund Inc awarded 12 grants totaling $474K — an average of about $40K per grant, based on its IRS Form 990 filings.
How much is The Palette Fund Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Palette Fund Inc reported a distributable amount of $502K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Palette Fund Inc's EIN?
The Palette Fund Inc's EIN (Employer Identification Number) is 26-2736653. 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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