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
Under IRS private-foundation payout rules, The Queally Foundation Inc reported a distributable amount of $1.7M for 2024 — the minimum it must pay out in qualifying distributions.
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
Among its reported 2024 grants, the largest include Catholic Academy of Bridgeport ($320,975), Jdrf ($250,000), Diocese of Bridgeport - We Stand With Christ ($100,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN FOUNDATION FOR SUICIDE PREVENTION NEW YORK, NY | GENERAL SUPPORT | $250 |
| CATHOLIC ACADEMY OF BRIDGEPORT BRIDGEPORT, CT | GENERAL SUPPORT | $320,975 |
| FRIENDS OF SCHOOL IN THE SQUARE INC NEW YORK, NY | GENERAL SUPPORT | $66,090 |
| HOPE RURAL SCHOOL INDIANTOWN, FL | GENERAL SUPPORT | $56,626 |
| INVEST IN EDUCATION FOUNDATION ALBANY, NY | GENERAL SUPPORT | $75,000 |
| JDRF NEW YORK, NY | GENERAL SUPPORT | $250,000 |
| THE MULTIPLE MYELOMA RESEARCH FOUNDATION NORWALK, CT | GENERAL SUPPORT | $83,000 |
| RISING STARS INC FREEPORT, NY | GENERAL SUPPORT | $70,000 |
| ROMULUS T WEATHERMAN MEMORIAL FUND SARATOGA SPRINGS, NY | GENERAL SUPPORT | $30,000 |
| SACRED HEART UNIVERSITY FAIRFIELD, CT | GENERAL SUPPORT | $2,000 |
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
Frequently Asked Questions
What does The Queally Foundation Inc fund?
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 …
How do I apply for a grant from The Queally Foundation Inc?
**Grant Characteristics:** • Typical award range: $250 to $2,000,000 • Median grant amount: $55,000 to $202,938 (varies by reporting period) • Average grant amount: $221,000 • Grant type: General support **Recent Grant Activity:** The foundation made 16 grants in 2024, including: • Catholic Academy of Bridgeport: $320,975 • Breakthrough T1D (JDRF): $250,000 • Multiple Myeloma Research Foundation (MMRF): $83,000 Historical grant data shows the foundation has made 39 grants totaling $8.6 million …
Where does The Queally Foundation Inc make 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.
What size grants does The Queally Foundation Inc award?
In 2024, The Queally Foundation Inc awarded 14 grants totaling $1.1M — an average of about $78K per grant, based on its IRS Form 990 filings.
How much is The Queally Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Queally Foundation Inc reported a distributable amount of $1.7M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Queally Foundation Inc's EIN?
The Queally Foundation Inc's EIN (Employer Identification Number) is 77-0607990. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Queally Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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