The Richard and Margaret Romano
The Richard and Margaret Romano Charitable Trust is a private foundation based in Evanston, Illinois. Established in 2005, the Trust operates as a 501(c)(3) organization with no employees, functioning as a family foundation supported by Richard C. Romano.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$6.8M
+17.8% YoY
Annual Giving
$1.0M
+65.4% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$1.0M
+65.4% YoY
Under IRS private-foundation payout rules, The Richard and Margaret Romano reported a distributable amount of $409K for 2024 — the minimum it must pay out in qualifying distributions.
Grantmaking
The Trust demonstrates active grantmaking with 38 grants awarded in the most recent fiscal year. Recent grantees include Learn Charter School Network.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 31, 2024:
| Metric | Amount |
|---|---|
| Total Assets | $6,753,467 |
| Total Revenues | $3,211,223 |
| Total Expenses | $1,062,343 |
| Grants & Contributions | $2,076,955 |
| Investment Income & Dividends | $275,827 |
| Net Gain from Asset Sales | $858,441 |
Year-over-Year Growth (2023-2024):
- Total revenues increased 93.1% ($1,662,669 to $3,211,223)
- Grants and contributions increased 71.9% ($1,208,179 to $2,076,955)
- Investment income increased 12.4% ($245,414 to $275,827)
- Net gains from asset sales increased 310.6% ($209,076 to $858,441)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $6,753,467 | $5,734,538 | $5,272,729 |
| Revenue | $3,211,223 | $1,662,669 | $1,266,574 |
| Expenses | $1,062,343 | $645,606 | $516,734 |
| Qualifying Distributions | $1,001,000 | $605,150 | $510,000 |
| Net Investment Income | $218,151 | $218,164 | $194,534 |
| Distributable Amount | $408,860 | $331,271 | $326,495 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
76 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Schwab Charitable Fund ($1,001,000).
| Recipient | Purpose | Amount |
|---|---|---|
| SCHWAB CHARITABLE FUND ORLANDO, FL | DONOR-ADVISED FUND | $1,001,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Richard C. Romano serves as the primary supporter of the Trust. Margaret V. Romano is also referenced in the Trust's formal name.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RICHARD C ROMANO | TRUSTEE | 0.5 | — |
| NATALIE ROMANO | TRUSTEE | 0.5 | — |
| JAMES D ROMANO | TRUSTEE | 0.5 | — |
| KATHRYN R MAYER | TRUSTEE | 10 | $24,996 |
| JOSEPH RV ROMANO | TRUSTEE | 0.5 | — |
| LOU DIBERARDINO | TRUSTEE | 0.5 | — |
| VALERIE ROMANO | TRUSTEE | 0.5 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
How do I apply for a grant from The Richard and Margaret Romano?
The Trust demonstrates active grantmaking with 38 grants awarded in the most recent fiscal year. Recent grantees include Learn Charter School Network. The Trust's funding interests span multiple sectors, including: • Community improvement and capacity building • Philanthropy, voluntarism, and grantmaking foundations • Management and technical assistance • International affairs and national security • Alliances and advocacy Recent grantmaking activity shows total giving of $605,150 in one report…
What size grants does The Richard and Margaret Romano award?
In 2024, The Richard and Margaret Romano awarded 1 grants totaling $1.0M — an average of about $1.0M per grant, based on its IRS Form 990 filings.
How much is The Richard and Margaret Romano required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Richard and Margaret Romano reported a distributable amount of $409K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Richard and Margaret Romano's EIN?
The Richard and Margaret Romano's EIN (Employer Identification Number) is 68-6251318. IRS Form 990 filing data is available on this page for 2020–2024.
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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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