The Payne Fund
The Payne Fund is a private foundation based in Cleveland, Ohio, incorporated in 1929. The organization was founded by Frances P. Bolton and the F.P. Bolton estate. The foundation focuses its grantmaking on higher education and cultural programs.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$3.3M
-5.7% YoY
Annual Giving
$843K
+15.5% YoY
Grant Count
41
+17.1% YoY
Avg Grant Size
$21K
-1.4% YoY
Under IRS private-foundation payout rules, The Payne Fund reported a distributable amount of $176K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's giving priorities include:
- Higher education
- Cultural programs
- Education
- Philanthropy, voluntarism, and grantmaking
- Human services
Grantmaking
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Ohio, North Carolina, and California.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Total Assets: $3,321,061 (as of 2024)
Total Giving: $843,000 (2024)
Revenue: $817,397 (2023)
Expenses: $1,109,000+ (2023)
Total Assets: $3,520,000 (2023)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $3,321,061 | $3,521,106 | $3,548,155 |
| Revenue | $1,027,474 | $817,397 | $1,092,869 |
| Expenses | $1,191,149 | $1,109,168 | $1,272,764 |
| Qualifying Distributions | $1,065,464 | $969,139 | $1,138,054 |
| Net Investment Income | $128,476 | $79,797 | $101,197 |
| Distributable Amount | $176,279 | $167,202 | $181,568 |
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
198 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Friends of Breakthrough Schools ($75,000), Musical Arts Association ($75,000), Decorative Arts Center of Ohio ($60,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ASHEVILLE SYMPHONY ORCHESTRA ASHVILLE, NC | ANNUAL FUND | $2,500 |
| ASHEVILLE SYMPHONY ORCHESTRA ASHVILLE, NC | CIM RECEPTION | $2,500 |
| ASHEVILLE SYMPHONY ORCHESTRA ASHVILLE, NC | YOUTH ORCHESTRA | $2,500 |
| ASHEVILLE SYMPHONY ORCHESTRA ASHVILLE, NC | AMADEUS FESTIVAL | $12,500 |
| BREVARD MUSIC CENTER BREVARD, NC | THE THOMAS C BOLTON DISTINGUISHED ARTIST CHAIR SPONSORED BY THOMAS C. BOLTON AND THE PAYNE FUND | $25,000 |
| BREVARD MUSIC CENTER BREVARD, NC | SCHOLARSHIPS FOR CLEVELAND INSTITUTE OF MUSIC STUDENTS | $20,000 |
| CLEVELAND COUNCIL OF WORLD AFFAIRS CLEVELAND, OH | SUPPORT CCWA'S EDUCATION PROGRAMS | $12,500 |
| CLEVELAND INSTITUTE OF MUSIC CLEVELAND, OH | PRIZE MONEY FOR INSTITUTE OF MUSIC PIANO WINNER | $1,000 |
| CLEVELAND INSTITUTE OF MUSIC CLEVELAND, OH | TRAVEL EXPENSES | $1,500 |
| CLEVELAND INSTITUTE OF MUSIC CLEVELAND, OH | SCHOLARSHIPS | $25,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| KENYON C BOLTON III | VICE PRESIDENT | 1 | — |
| OLIVER C GRATRY | VICE PRESIDENT | 1 | — |
| WILLIAM B BOLTON | TREASURER | 1 | — |
| BARBARA B GRATRY | PRESIDENT | 1 | — |
| HUGH B BOLTON | VICE PRESIDENT | 1 | — |
| KIM SCOTT | SECRETARY | 1 | — |
| FRANCES B WILMERDING | VICE PRESIDENT | 1 | — |
Contact Information
Address: 3050 Prospect Avenue East, Cleveland, OH 44115-2683
Phone: 216-696-1621
EIN: 13-5563006
Tax-Exempt Status: 501(c)(3), tax-exempt since March 1930
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Payne Fund fund?
The foundation's giving priorities include: • Higher education • Cultural programs • Education • Philanthropy, voluntarism, and grantmaking • Human services
How do I apply for a grant from The Payne Fund?
**Grant Amounts:** Typical awards range from $1,000 to $150,000. **Recent Activity:** Based on the most recent IRS Form 990 filing (2024), the foundation distributed $843,000 in grants. **Recent Grants:** Recent grantmaking includes support to the Cleveland Museum of Art for the African Byzantine Exhibit ($40,000, $10,000) and the Annual Fund ($5,000, $5,000) in 2024.
Where does The Payne Fund make grants?
The foundation primarily funds organizations in Ohio, North Carolina, and California.
What size grants does The Payne Fund award?
In 2024, The Payne Fund awarded 41 grants totaling $843K — an average of about $21K per grant, based on its IRS Form 990 filings.
How much is The Payne Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Payne Fund reported a distributable amount of $176K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Payne Fund's EIN?
The Payne Fund's EIN (Employer Identification Number) is 13-5563006. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Payne Fund'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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