The Queally Foundation Inc
The Queally Foundation Inc. is a private foundation based in Palm Beach, Florida, established in 2004. The foundation operates as a 501(c)(3) organization dedicated to advancing educational opportunity and supporting disadvantaged populations across the United States.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$31.2M
+2.8% YoY
Annual Giving
$1.1M
-63.1% YoY
Grant Count
14
-6.7% YoY
Avg Grant Size
$78K
-60.4% YoY
Mission & Focus Areas
The foundation's mission is to promote educational opportunity for America's most disadvantaged populations by investing in future generations through scholarships and funding student opportunities in underprivileged areas.
The foundation's core belief is that every person has the potential to succeed in life, and that education, gainful employment, and self-determination are valuable for all people regardless of their circumstances of birth. The foundation addresses opportunity gaps and helps people overcome obstacles to success.
Primary funding areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
Grantmaking
The foundation made 16 grants in 2024, including:
Average Grant
amount: $221,000
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in:
- New York
- Connecticut
- Florida
Grantmaking reaches organizations across 8 states, with Virginia, Connecticut, and New York accounting for 59% of all grants.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of December 31, 2024:
- Total Assets: $31,150,689
- Total Giving: $1,092,441
- Total Revenues: $2,518,654
- Total Expenses: $1,634,966
- Giving Rate: 10.8%
Historical Asset Growth: Total assets have grown from $2.4 million in 2011 to $31.2 million in 2024.
Investment Income:
- 2024: $457,404 in investment income and dividends
- 2023: $308,490 in investment income and dividends
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $31,150,689 | $30,296,361 | $25,526,775 |
| Revenue | $2,518,654 | $8,500,910 | $3,280,695 |
| Expenses | $1,634,966 | $3,742,306 | $3,402,473 |
| Qualifying Distributions | $1,165,680 | $3,023,182 | $2,988,091 |
| Net Investment Income | $1,515,401 | $11,882,345 | $3,233,406 |
| Distributable Amount | $1,663,597 | $1,455,330 | $1,672,098 |
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
66 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
- Paul B. Queally – President, Director, Secretary (1 hour per week, no compensation)
- Anne-Marie Queally – Vice President, Director (1 hour per week, no compensation)
The foundation has limited staffing with 0 employees reported.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ANNE-MARIE QUEALLY | VICE PRESIDENT/ DIRECTOR | 1 | — |
| PAUL B QUEALLY | PRESIDENT/ DIRECTOR/ SECRE | 1 | — |
Subject 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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