The Peterson Family Foundation Inc
The Peterson Family Foundation Inc is a private foundation based in Fairfax, Virginia, established in 1998. The foundation operates as a 501(c)(3) charitable organization dedicated to supporting a range of causes including education, health, human services, and religious purposes. The foundation is led by members of the Peterson family and maintains a significant presence in philanthropic giving across multiple states.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.4M
-44.2% YoY
Annual Giving
$6.3M
+84.3% YoY
Grant Count
116
+17.2% YoY
Avg Grant Size
$54K
+57.3% YoY
Mission & Focus Areas
The foundation's primary mission is to support individuals with limited financial resources. Key focus areas include:
- Music Therapy: Supporting music therapy programs in children's hospitals, recognizing music therapy's role in addressing physical, emotional, cognitive, and spiritual health needs
- Childhood Leukemia Research: Funding medical research initiatives focused on childhood leukemia
- Education: General educational support and funding for educational institutions
- Health & Healthcare: Supporting cancer care programs, medical equipment, and healthcare expansion
- Human Services: Assistance for vulnerable populations
- Religious Purposes: Support for church-related activities and organizations
- Philanthropy & Grantmaking: Supporting the philanthropic sector itself
The foundation has a particular commitment to international work, having built and operated a church-related daycare and education center in La Romana, Dominican Republic (affiliated with Iglesia Africana Metodista Episcopal A.M.C. Inc.), which currently serves approximately 250 children with feeding and educational programs. The foundation also operates a girls orphanage on the same property.
Grantmaking
The foundation has made 99 grants in recent years, including support for the Protestant Episcopal Cathedral Foundation and other organizations.
Grant Range
s & Amounts:**
Average Grant
amount: $150
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Geographic Focus
Where this funder awards grants
The foundation supports initiatives across numerous U.S. states and cities, including:
Arizona, California, Colorado, Washington D.C., Florida, Hawaii, Idaho, Illinois, Kansas, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, Pennsylvania, South Carolina, Tennessee, and additional states.
The foundation also maintains international giving focused on the Dominican Republic through its church-related programs.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent Financial Data (2023-2024):
| Metric | Amount |
|---|---|
| Total Assets | $2.4M - $4.3M |
| Total Revenue | $4.4M - $6.4M |
| Total Giving | $6.3M - $6.4M |
| Total Expenses | $3.5M - $6.3M |
| Giving Rate | 187.4% |
The foundation's giving rate exceeds 100%, indicating it distributes more annually than its asset base, likely drawing on accumulated reserves and revenue.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,408,748 | $4,319,660 | $6,398,355 |
| Revenue | $4,431,642 | $6,410,770 | $3,144,640 |
| Expenses | $6,342,554 | $3,478,032 | $4,381,021 |
| Qualifying Distributions | $6,303,133 | $3,434,396 | $4,352,822 |
| Net Investment Income | $647,557 | $5,523,887 | $3,116,225 |
| Distributable Amount | $164,766 | $221,072 | $408,855 |
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
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is led by members of the Peterson family, all serving voluntarily without compensation:
- Lauren E. Peterson - President (1 hour/week)
- Jon M. Peterson - Vice President (1 hour/week)
- Carolyn S. Peterson - Secretary (1 hour/week)
- Steven B. Peterson - Director (1 hour/week)
- William E. Peterson - Treasurer (1 hour/week)
Carolyn and Milt Peterson were instrumental in helping create the Life with Cancer program at Inova in 1988. The Peterson Family has hosted the annual Lobster Extravaganza since 1998, which has raised more than $20 million for Life with Cancer.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LAUREN E PETERSON | PRESIDENT | 1 | — |
| JON M PETERSON | VICE PRESIDENT | 1 | — |
| CAROLYN S PETERSON | SECRETARY | 1 | — |
| STEVEN B PETERSON | DIRECTOR | 1 | — |
| WILLIAM E PETERSON | TREASURER | 1 | — |
Recent News & Activity
Recent developments and announcements
**2024 Major Gift:**
The Peterson Family announced a transformational $20 million gift to Inova in April 2024. This represents the latest in a 30-year history of support totaling more than $50 million. The gift includes $15 million for Inova Life with Cancer (with the program being renamed Inova Peterson Life with Cancer in recognition) and $5 million for the expansion of the Inova Fairfax Emergency Room. In 2014, the Peterson Family made a historic $10 million gift to Inova, which was the first eight-figure gift to the organization and inspired subsequent major gifts from others.
Inova Receives $20M from Peterson Family for Life with Cancer Programs and**Ongoing Commitment:**
The foundation continues its annual Lobster Extravaganza fundraiser, which has become a highly anticipated event that has raised more than $20 million since its inception in 1998.
Peterson Foundation Announces $200 Million Commitment for Its New CenterSubject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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