The Peter J Palermo Trust Under Agreement
The Peter J Palermo Trust Under Agreement is a private foundation, based in Ithaca, NY. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $2.6M in total assets. In 2025, it awarded 8 grants totaling $200K. Net investment income was $114K.
The Peter J Palermo Trust Under Agreement at a glance
In short: The Peter J Palermo Trust Under Agreement gave $200K across 8 grants in 2025 (avg $25K), mostly in New York. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $200,000
- +122.2% vs 2024
- Grants made (2025)
- 8
- +166.7% vs 2024
- Average grant
- $25,000
- -16.7% vs 2024
- Median grant
- $15,500
- Total assets
- $2,555,512
- -3.8% vs 2024
- Primary geography
- New York (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Peter J Palermo Trust Under Agreement funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2025
The largest 2025 recipient was Siena College ($103K). Together the top 4 received $132K.
Organizations only. It also paid 4 individual scholarships ($68,500), which are not listed by name.
Grant Size Distribution
29 grants across all recorded years
The most common grant size was under $50K: 28 grants of 29 (97%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 8 itemized grants.
States
Cities
How The Peter J Palermo Trust Under Agreement gives
- Giving grew 627% from 2022 to 2025. Method
- In 2025 it paid out 146% 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 2019 to 2025, annual grant giving ranged from $10K (2023) to $200K (2025). In 2025 it made 8 grants totaling $200K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Siena College Loudonville, NY | Scholarships | $102,500 |
| 4 individual scholarships Recipients not named | — | $68,500 |
| John Jay College New York, NY | Charitable | $25,000 |
| Blessed Sacrament School Albany, NY | Education | $2,000 |
| Mater Christi School Albany, NY | Education | $2,000 |
Ready to take the next step with The Peter J Palermo Trust Under Agreement?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $2,555,512 | $135,984 | $235,930 | $200,000 | 8 | $201,500 | $113,650 | $138,438 |
| 2024 | $2,655,344 | $281,907 | $117,582 | $90,000 | 3 | $91,500 | $266,039 | $133,240 |
| 2023 | $2,513,450 | $35,675 | $72,444 | $10,000 | 1 | $49,504 | $45,471 | $125,258 |
| 2022 | $2,521,322 | $-38,856 | $87,451 | $27,500 | 7 | $51,840 | $27,550 | $126,446 |
| 2021 | $2,647,591 | $502,692 | $85,908 | $35,000 | 10 | $58,937 | $474,500 | $137,151 |
| 2020 | $2,228,063 | $143,179 | $80,268 | $37,500 | 10 | — | $121,186 | $116,671 |
| 2019 | $2,166,342 | $143,460 | $98,405 | $57,500 | 14 | — | $130,963 | $111,913 |
Under IRS private-foundation payout rules, The Peter J Palermo Trust Under Agreement reported a distributable amount of $138K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Peter J Palermo Trust Under Agreement's only listed officer is Tompkins Community Bank, Trustee on every filing since 2024 (compensated).
Officers on the 2025 filing
Tompkins Community Bank
Trustee
On filings since 2024
1 hr/week
$22K (2024) → $30K (2025)
Former officers (2)
- Former: Bank Of America (2021–2024) — Trustee
- Former: Bank Of America N A (2019–2020) — Trustee
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $30K, to Tompkins Community Bank (Trustee).
Frequently asked questions about The Peter J Palermo Trust Under Agreement
How much does The Peter J Palermo Trust Under Agreement give each year?
The Peter J Palermo Trust Under Agreement gave $200K across 8 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $90K across 3 grants.
What is The Peter J Palermo Trust Under Agreement's typical grant size?
The Peter J Palermo Trust Under Agreement's median grant in 2025 was $15,500, and its average grant was $25,000, across 8 grants on its 2025 IRS Form 990-PF.
Where does The Peter J Palermo Trust Under Agreement give grants?
The Peter J Palermo Trust Under Agreement gives mostly in New York: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Albany, NY (2 grants).
Does The Peter J Palermo Trust Under Agreement give general operating support?
Not in 2025: none of the 8 grants with a stated purpose on The Peter J Palermo Trust Under Agreement's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarships" (5 grants).
Who are The Peter J Palermo Trust Under Agreement's largest grantees?
The Peter J Palermo Trust Under Agreement's largest 2025 grantees include Siena College ($102,500), John Jay College ($25,000) and Blessed Sacrament School ($2,000), according to its 2025 IRS Form 990-PF. It also paid 4 individual scholarships ($68,500), which are not listed by name. Together they received 65% of its itemized 2025 grant dollars.
How large is The Peter J Palermo Trust Under Agreement?
The Peter J Palermo Trust Under Agreement reported $2.6M in total assets on its 2025 IRS Form 990-PF. It paid out $202K in qualifying distributions that year, against a required minimum of $138K (roughly 5% of its investment assets).
What is The Peter J Palermo Trust Under Agreement's EIN?
The Peter J Palermo Trust Under Agreement's EIN (Employer Identification Number) is 54-6898253. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS April 2, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 6, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in The Peter J Palermo Trust Under Agreement's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
IBM International Foundation
Armonk, NY
The IBM International Foundation funds education and workforce programs that build 21st-century and technology job skills, including initiatives for underserved students and job seekers. Its 2024 grants ranged from $10,000 to $8.48 million, with a median of $100,000, and went to organizations across several U.S. states, especially Delaware and Massachusetts. It funds only preselected organizations and does not accept unsolicited requests.
Assets
$357.7M
Grants
16
Total Given
$11.7M
Conrad H & Anna B Gillen Scholarship Fund
Norwich, NY
Assets
$286K
Grants
15
Total Given
$14K
Burton and Wemple Scholarship Fund Uw
Norwich, NY
The Burton and Wemple Scholarship Fund UW supports scholarships for higher education, with a preference for graduates from a specified school district and towns in Montgomery County, New York. In 2025, its 15 grants ranged from $4,065 to $17,440, with a median of $4,655, and all went to New York recipients. A 2023 filing says applications are available through the high school guidance office and trustee’s office.
Assets
$1.7M
Grants
15
Total Given
$95K
Tuw Alice Koon FBO Scholastic Fund
Norwich, NY
The fund supports scholarships through grants to educational institutions, primarily in New York, with some funding in Florida and Utah. Its 2025 grants ranged from $1,884 to $15,000, with a median of $5,000; it gives only to preselected organizations and does not accept unsolicited requests.
Assets
$1.2M
Grants
16
Total Given
$98K
The Kilkea Foundation Inc
New York, NY
The Kilkea Foundation primarily funds college tuition, with 2025 grants ranging from $100 to $96,200 and a median grant of $1,000. Most grant dollars went to Vermont recipients, followed by New York; its 2024 filing says it does not restrict giving to preselected organizations, but does not specify an application process.
Assets
$1.0M
Grants
13
Total Given
$109K
Aetna Foundation Inc
Hartford, CT
Aetna Foundation supported health and wellness, access to health care, and related community needs; its 2021 grants ranged from $5,000 to $1 million, with a median of $40,000, and went to organizations across multiple states, especially in D.C. and Connecticut. Its 2021 filing was marked final, so it appears to have ended or be winding down grantmaking; that filing said there were no restrictions on who could apply and pointed applicants to its website for application materials.
Assets
—
Grants
65
Total Given
$7.2M
More similar funders
More Funders in New York
Cite this profile
Grantable. (2026). The Peter J Palermo Trust Under Agreement funder profile. GrantGraph. Retrieved October 4, 2026, from https://grantable.co/funders/the-peter-j-palermo-trust-under-agreement-morg_ce45a0c755b2445ea14b518c76bb8fdb
BibTeX
@misc{grantable_546898253_2026,
author = {{Grantable}},
title = {{The Peter J Palermo Trust Under Agreement funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-peter-j-palermo-trust-under-agreement-morg_ce45a0c755b2445ea14b518c76bb8fdb},
note = {Accessed 2026-10-04. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from The Peter J Palermo Trust Under Agreement'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.
The Peter J Palermo Trust Under Agreement down — hundreds of funders to go?