The Pegasus Springs Foundation
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
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
The most common grant size was under $50K: 19 grants of 25 (76%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 6 itemized grants.
Cities
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
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
| Recipient | Purpose | Amount |
|---|---|---|
| Pegasus Springs Education Collective Reading, MA | Educational | $130,000 |
| Salem State Salem, MA | Education | $31,800 |
| Building Bridges Education Boston, MA | Foster Education in HBCU | $30,000 |
| Town of Reading Reading, MA | Educational | $27,000 |
| National Teachers Hall of Fame Emporia, KS | Educational | $20,000 |
| Walsh and Associates Minneapolis, MN | Education | $7,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $1,636,051 | $179,525 | $261,684 | $246,300 | 6 | $246,300 | $238,316 | $82,643 |
| 2023 | $1,614,799 | $255,051 | $242,675 | $228,200 | 7 | $228,200 | $53,616 | $85,819 |
| 2022 | $1,655,744 | $270,325 | $402,947 | $385,500 | 4 | $385,500 | $120,959 | $82,878 |
| 2021 | $1,763,393 | $308,909 | $189,557 | $172,000 | 3 | $172,000 | $107,702 | $95,503 |
| 2020 | $1,649,950 | $326,626 | $313,698 | $298,195 | 5 | — | $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
- IRS filings on file for fiscal years 2020–2024
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