The Pegasus Springs Foundation

Private foundation · Grantmaker Reading, MA EIN: 82-6117572

The Pegasus Springs Foundation is a private foundation, based in Reading, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.6M in total assets. In 2024, it awarded 6 grants totaling $246K. Net investment income was $238K.

The Pegasus Springs Foundation at a glance

In short: The Pegasus Springs Foundation gave $246K across 6 grants in 2024 (avg $41K), mostly in Massachusetts. Source: 2024 IRS Form 990-PF.

Annual giving (2024)
$246,300
+7.9% vs 2023
Grants made (2024)
6
-14.3% vs 2023
Average grant
$41,050
+25.9% vs 2023
Median grant
$28,500
Total assets
$1,636,051
+1.3% vs 2023
Primary geography
Massachusetts (89% of itemized 2024 grant dollars)
Latest 990 filing
Form 990-PF, 2024 View filing

Data from IRS Form 990-PF, 2024; updated September 2026.

Who The Pegasus Springs Foundation funds

How this funder distributes its grants

Top Recipients

Top 6 recipients in 2024

Pegasus Springs Education Collective: $130KPegasus Springs EducationCollective$130KSalem State: $32KSalem State$32KBuilding Bridges Education: $30KBuilding Bridges Education$30KTown of Reading: $27KTown of Reading$27KNational Teachers Hall of Fame: $20KNational Teachers Hall of Fame$20KWalsh and Associates: $8KWalsh and Associates$8K

The largest 2024 recipient was Pegasus Springs Education Collective ($130K). Together the top 6 received $246K.

Grant Size Distribution

25 grants across all recorded years

19<$50K2$50–100K3$100–250K1$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 19 grants of 25 (76%).

Geographic Focus

Where this funder awards grants

Grant Distribution by State

4states

Share of 2024 grant dollars across all 6 itemized grants.

Cities

ReadingEmporiaBostonDenverMinneapolisSalemRoxburyWakefield

How The Pegasus Springs Foundation gives

  • Giving grew 43% from 2021 to 2024. Method
  • In 2024 it paid out 298% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

Giving History

Giving Over Time

Total grant dollars and number of grants per year

$0$100K$200K$300K$400K5 grants2020 3 grants2021 4 grants2022 7 grants2023 6 grants2024

From 2020 to 2024, annual grant giving ranged from $172K (2021) to $386K (2022). In 2024 it made 6 grants totaling $246K.

Grants by year

Grant recipients and amounts by year

RecipientPurposeAmount
Pegasus Springs Education Collective Reading, MAEducational$130,000
Salem State Salem, MAEducation$31,800
Building Bridges Education Boston, MAFoster Education in HBCU$30,000
Town of Reading Reading, MAEducational$27,000
National Teachers Hall of Fame Emporia, KSEducational$20,000
Walsh and Associates Minneapolis, MNEducation$7,500
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Financial History

Multi-year comparison from IRS filings

Figures from IRS filings, by filing year
Filing yearTotal AssetsRevenueExpensesGrants paidGrantsQualifying DistributionsNet Investment IncomeDistributable Amount
2024$1,636,051$179,525$261,684$246,3006$246,300$238,316$82,643
2023$1,614,799$255,051$242,675$228,2007$228,200$53,616$85,819
2022$1,655,744$270,325$402,947$385,5004$385,500$120,959$82,878
2021$1,763,393$308,909$189,557$172,0003$172,000$107,702$95,503
2020$1,649,950$326,626$313,698$298,1955—$122,177$83,457

Under IRS private-foundation payout rules, The Pegasus Springs Foundation reported a distributable amount of $83K for 2024 — the minimum it must pay out in qualifying distributions.

Leadership & Key People

Officers and directors from IRS filings

The Pegasus Springs Foundation is led by Lorraine Martin, President, Treasurer & Director on every filing since 2020; none of the 2 officers listed in 2024 report compensation.

Officers on the 2024 filing

  • Lorraine Martin

    President, Treasurer & Director

    On filings since 2020

    10 hrs/week

    No compensation reported

  • Craig Martin

    Director & Clerk

    On filings since 2020

    10 hrs/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.

Frequently asked questions about The Pegasus Springs Foundation

How much does The Pegasus Springs Foundation give each year?

The Pegasus Springs Foundation gave $246K across 6 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $228K across 7 grants.

What is The Pegasus Springs Foundation's typical grant size?

The Pegasus Springs Foundation's median grant in 2024 was $28,500, and its average grant was $41,050, across 6 grants on its 2024 IRS Form 990-PF.

Where does The Pegasus Springs Foundation give grants?

The Pegasus Springs Foundation gives mostly in Massachusetts: 89% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Kansas (8%). The most frequent recipient cities were Reading, MA (2 grants).

Does The Pegasus Springs Foundation give general operating support?

Not in 2024: none of the 6 grants with a stated purpose on The Pegasus Springs Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Educational" (3 grants).

Who are The Pegasus Springs Foundation's largest grantees?

The Pegasus Springs Foundation's largest 2024 grantees include Pegasus Springs Education Collective ($130,000), Salem State ($31,800) and Building Bridges Education ($30,000), according to its 2024 IRS Form 990-PF. Together they received 78% of its itemized 2024 grant dollars.

How large is The Pegasus Springs Foundation?

The Pegasus Springs Foundation reported $1.6M in total assets on its 2024 IRS Form 990-PF. It paid out $246K in qualifying distributions that year, against a required minimum of $83K (roughly 5% of its investment assets).

What is The Pegasus Springs Foundation's EIN?

The Pegasus Springs Foundation's EIN (Employer Identification Number) is 82-6117572. IRS Form 990 filing data is available on this page for 2020–2024.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

Data update history

(1)

When this profile's IRS filing data changed on Grantable

  1. IRS filings on file for fiscal years 2020–2024

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The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open

Figures come from The Pegasus Springs Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.

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