The Prudential Foundation
Looking for Prudential grants for nonprofits? The Prudential Foundation is Prudential's company-sponsored foundation, and this page covers the grants it reports to the IRS on Form 990-PF.
The Prudential Foundation is a private foundation based in Newark, New Jersey. Its 2025 filing reports grants for work including community development, economic opportunity, financial well-being, youth workforce services, arts and economic development, employee ownership, and disaster response.
The Prudential Foundation at a glance
In short: The Prudential Foundation gave $41.3M across 141 grants in 2025 (avg $293K), top state New Jersey. 24% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $41,304,940
- +1.3% vs 2024
- Grants made (2025)
- 141
- -20.8% vs 2024
- Average grant
- $292,943
- +27.8% vs 2024
- Median grant
- $200,000
- Total assets
- $77,044,610
- +7.9% vs 2024
- New grantees (estimate)
- 24% first-time grantees (29 of 122, 2025)
- Primary geography
- New Jersey (27% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Prudential Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 751 Broad Street 3Rd Floor, Newark, NJ 07102
Phone: (973) 367-4565
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Prudential Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was American Online Giving Foundation ($3.8M). Together the top 10 received $16.7M.
Organizations only. It also paid 1 grant to individuals ($50,000), which are not listed by name.
Grant Size Distribution
782 grants across all recorded years
The most common grant size was in the $100–250K range: 236 grants of 782 (30%).
Geographic Focus
Where this funder awards grants
In 2025, grant dollars by recipient state were reported as: New Jersey, 27%; District of Columbia, 16%; New York, 16%; Delaware, 9%; and Illinois, 8%.
Grant Distribution by State
Share of 2025 grant dollars across all 141 itemized grants.
States
Cities
Is The Prudential Foundation open to new grantees?
24%
first-time grantees, 2025
In 2025, 29 of 122 grantees (24%) were first-time recipients. First grants averaged $223K; repeat grants $374K. How we count
Medians: $150K first-time, $240K repeat.
- 70% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−9%). Method
- In 2025 it paid out well above its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $40.8M (2024) to $48.5M (2021). In 2025 it made 141 grants totaling $41.3M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| American Online Giving Foundation Newark, DE | Benevity Invoice Matching Gifts & Volunteer Rewards Program | $3,847,656 |
| Nonprofit Finance Fund New York, NY | To support nonprofit finance fund's efforts to strengthen the financial sustainability and impact of newark's community development corporations. | $2,100,000 |
| The Barack Obama Foundation Chicago, IL | To sponsor a core exhibit called "a more inclusive America" at the obama presidential center. | $1,300,000 |
| Newark Alliance Inc Newark, NJ | To support the newark alliance in galvanizing public and private stakeholders to drive inclusive economic growth and expand economic opportunities for all residents of newark. | $1,200,000 |
| The Aspen Institute Inc Washington, DC | To expand the aspen institute's global opportunity youth network to more cities around the world in order to reach and connect one million youth to economic opportunity. | $1,100,000 |
| The Aspen Institute Inc Washington, DC | To support the aspen institute in reimagining work, wealth and capitalism to improve the financial well-being of all workers and reduce the racial wealth gap. | $1,000,000 |
| Financial Health Network Inc Chicago, IL | To support the financial health network in improving the financial health of newark residents and nonprofit workers through research and strategic interventions. | $800,000 |
| Kindred Futures Atlanta, GA | To support kindred futures in advancing economic opportunity and asset ownership in the American south. | $700,000 |
| United States Fund for UNICEF New York, NY | To support unicef's efforts to provide disaster response, preparedness, and mitigation services for vulnerable communities and families across the globe. | $670,000 |
| New Jersey Performing Arts Center Corporation Newark, NJ | To advance njpac's strategic priorities to be a premier urban presenter of arts and entertainment and a catalyst for economic development in newark. | $665,000 |
Ready to take the next step with The Prudential Foundation?
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 | $77,044,610 | $45,279,741 | $43,244,251 | $41,304,940 | 141 | $53,024,912 | $3,492,025 | $3,718,439 |
| 2024 | $71,396,350 | $35,270,556 | $30,786,124 | $40,787,267 | 178 | $41,712,072 | $3,627,525 | $3,439,637 |
| 2023 | $76,187,343 | $32,401,528 | $52,090,210 | $43,342,176 | 140 | $44,224,308 | $3,316,320 | $3,517,336 |
| 2022 | $81,677,052 | $646,652 | $28,690,686 | $45,167,465 | 150 | $46,150,715 | $1,519,518 | $4,390,323 |
| 2021 | $137,651,624 | $53,115,847 | $47,970,671 | $48,544,688 | 173 | $54,086,430 | $5,765,050 | $4,891,737 |
| 2020 | $138,718,395 | $77,328,293 | $47,008,666 | $47,217,099 | 146 | — | $21,629,662 | $5,104,495 |
| 2019 | $104,837,838 | $15,805,071 | $49,612,837 | $46,852,437 | 163 | — | $4,057,949 | $5,260,095 |
Under IRS private-foundation payout rules, The Prudential Foundation reported a distributable amount of $3.7M for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The available filing information does not state an overall mission for the foundation. Its 2025 grants include support for nonprofit financial sustainability, inclusive economic growth in Newark, youth access to economic opportunity, workers’ financial well-being, disaster response, the arts, and employee ownership.
Grantees describe their work in their own terms. Nonprofit Finance Fund says it is a nonprofit lender, consultant, and advocate helping organizations access resources and build community wealth and well-being. Newark Alliance describes its work as partnering to make Newark a better, safer place to work, live, learn, play, and do business. Project Equity describes itself as a national leader in employee ownership, which it says can help sustain local businesses and address income and wealth inequality. These are grantees’ descriptions, not stated foundation priorities.
Grantmaking
In filing year 2025, the foundation reported 141 grants totaling $41,304,940. Grants ranged from $5,000 to $3,847,656, with a median grant of $200,000.
Among the largest reported grants were $2,100,000 to Nonprofit Finance Fund for work strengthening the financial sustainability and impact of Newark community development corporations; $1,200,000 to Newark Alliance to support inclusive economic growth and economic opportunity in Newark; and two grants to The Aspen Institute, for $1,100,000 and $1,000,000, for youth access to economic opportunity and work on financial well-being and the racial wealth gap. Other notable grants included $800,000 to Financial Health Network for research and strategic interventions to improve the financial health of Newark residents and nonprofit workers; $700,000 to Kindred Futures to advance economic opportunity and asset ownership in the American South; and $600,000 to Project Equity to expand access to employee ownership.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Shane T. Harris as president, Jonathan Francisco as treasurer, and Sarah S. Keh as secretary. Trustees listed were Lata Reddy, chairman; Gilbert F. Casellas; Caroline Feeney; Sandra Pianalto; and Timothy Schmidt. Charles Lowrey and Lucien Alziari were listed as trustees until June 2025.
The Prudential Foundation is led by Shane T. Harris, President on every filing since 2019; none of the 16 officers listed in 2025 report compensation.
Officers on the 2025 filing
Shane T. Harris
President
On filings since 2019
32 hrs/week
No compensation reported
Lata N. Reddy
Trustee & Chairman
On filings since 2019
8 hrs/week
No compensation reported
Caroline Feeney
Trustee
On filings since 2019
0.2 hrs/week
No compensation reported
Charles F. Lowrey
Trustee
On filings since 2019
0.2 hrs/week
No compensation reported
Gilbert F. Casellas
Trustee
On filings since 2019
0.2 hrs/week
No compensation reported
Lucien Alziari
Trustee
On filings since 2019
0.2 hrs/week
No compensation reported
Sandra Pianalto
Trustee
On filings since 2019
0.2 hrs/week
No compensation reported
Timothy Schmidt
Trustee
On filings since 2020
0.2 hrs/week
No compensation reported
Andrew Sullivan
Trustee Started June
New on the 2025 filing
0.2 hrs/week
No compensation reported
Ann Kappler
Trustee Started June
New on the 2025 filing
0.2 hrs/week
No compensation reported
Sarah S. Keh
Secretary
Secretary → Vice President & Secretary, 2020
Vice President & Secretary → Secretary, 2021
On filings since 2019
32 hrs/week
No compensation reported
Joseph McCarthy
Assistant Treasurer
On filings since 2020
No compensation reported
Jonathan Francisco
Treasurer
Treasurer Started in Feb → Treasurer, 2025
On filings since 2024
0.3 hrs/week
No compensation reported
Michael Simonetti
Controller
Controller Started in June → Controller, 2025
On filings since 2024
0.4 hrs/week
No compensation reported
Rob Stekson
Investment Officer
Investment Officer Started in Aug. → Investment Officer, 2025
On filings since 2024
8 hrs/week
No compensation reported
Janette Niland
Assistant Treasurer Started June
New on the 2025 filing
No compensation reported
Former officers (12)
- Former: Nandini Mongia (2019–2024) — Treasurer
- Former: Thomas Laurita (2019–2024) — Controller
- Former: Jason Heath (2022–2024) — Investment Officer
- Former: Peter Lighte (2020–2022) — Trustee
- Former: Paul Curcio (2021–2022) — Investment Officer
- Former: Ommeed Sathe (2019–2021) — Investment Officer
- Former: Kathleen C. Hoffman (2019–2020) — Assistant Treasurer
- Former: Kimberly Ostrowski (2019–2020) — Vice President
- Former: Scott Sleyster (2019–2020) — Trustee
- Former: Christine Poon (2019) — Trustee
- Former: John Strangfeld (2019) — Trustee
- Former: Kenneth Y. Tanji (2019) — Treasurer
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.
Frequently asked questions about The Prudential Foundation
How much does The Prudential Foundation give each year?
The Prudential Foundation gave $41.3M across 141 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $40.8M across 178 grants.
What is The Prudential Foundation's typical grant size?
The Prudential Foundation's median grant in 2025 was $200,000, and its average grant was $292,943, across 141 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Prudential Foundation that year got $223K on average.
Where does The Prudential Foundation give grants?
The Prudential Foundation's top state is New Jersey, with 27% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were District of Columbia (16%) and New York (16%). The most frequent recipient cities were Newark, NJ (28 grants), New York, NY (20 grants), Washington, DC (19 grants) and Morristown, NJ (8 grants).
Does The Prudential Foundation give general operating support?
Occasionally: 1% of The Prudential Foundation's 2025 grants with a stated purpose (2 of 141) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are The Prudential Foundation's largest grantees?
The Prudential Foundation's largest 2025 grantees include American Online Giving Foundation ($3,847,656), The Aspen Institute Inc ($2,375,000 across 4 grants) and Community Foundation of New Jersey ($2,307,000 across 8 grants), according to its 2025 IRS Form 990-PF. It also paid 1 grant to individuals ($50,000), which are not listed by name. Together they received 21% of its itemized 2025 grant dollars.
How large is The Prudential Foundation?
The Prudential Foundation reported $77.0M in total assets on its 2025 IRS Form 990-PF. It paid out $53.0M in qualifying distributions that year, against a required minimum of $3.7M (roughly 5% of its investment assets).
What does The Prudential Foundation fund?
The available filing information does not state an overall mission for the foundation. See mission & focus areas ↑
How do I apply for a grant from The Prudential Foundation?
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Prudential Foundation's EIN?
The Prudential Foundation's EIN (Employer Identification Number) is 22-2175290. IRS Form 990 filing data is available on this page for 2019–2025.
Does The Prudential Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Does Prudential give grants to nonprofits?
Yes. The Prudential Foundation, Prudential's company-sponsored foundation, awarded 141 grants totaling $41.3M in 2025, according to its IRS Form 990-PF. Prudential may also give through corporate programs that are not reported on the foundation's 990.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
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 May 28, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 12, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in The Prudential Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). The Prudential Foundation funder profile. GrantGraph. Retrieved October 10, 2026, from https://grantable.co/funders/the-prudential-foundation-morg_94c04279b64a4a72bba2f1dda953be0e
BibTeX
@misc{grantable_222175290_2026,
author = {{Grantable}},
title = {{The Prudential Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-prudential-foundation-morg_94c04279b64a4a72bba2f1dda953be0e},
note = {Accessed 2026-10-10. 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 Prudential 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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