The Steven E and Michelle Karol is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in BOSTON, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $74K in total assets. In 2024, it awarded 24 grants totaling $51K. Net investment income was $6K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$74K
-38.1% YoY
Annual Giving
$51K
+15.2% YoY
Grant Count
24
-4.0% YoY
Avg Grant Size
$2K
+20.0% YoY
Under IRS private-foundation payout rules, The Steven E and Michelle Karol reported a distributable amount of $5K for 2024 — the minimum it must pay out in qualifying distributions.
About The Steven E and Michelle Karol
Based on IRS filings
The Steven E and Michelle Karol is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in BOSTON, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $74K in total assets. In 2024, it awarded 24 grants totaling $51K. Net investment income was $6K.
Focus Areas
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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
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $74,061 | $119,579 | $171,387 |
| Revenue | $8,318 | $2,503 | $491,977 |
| Expenses | $53,836 | $54,311 | $141,585 |
| Qualifying Distributions | $51,251 | $44,500 | $138,500 |
| Net Investment Income | $5,653 | $2,503 | $189,562 |
| Distributable Amount | $5,403 | $7,877 | — |
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
128 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Baptist Health ($27,001), Tufts University ($10,000), Spring Island Trust Foundation ($5,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AUDUBON SOCIETY OF RHODE ISLAND SMITHFIELD, RI | SUPPORTING PRESERVATION OF WILDLIFE | $250 |
| BAPTIST HEALTH CORAL GABLES, FL | SUPPORTING HOSPITALS TO PROVIDE IMPROVED HEALTH CARE | $27,001 |
| BEACON HILL CIRCLE FOR CHARITY BOSTON, MA | GENERAL SUPPORT | $250 |
| BEAUFORT MEMORIAL FOUNDATION BEAUFORT, SC | IN HONOR OF DAVID HOUSE | $500 |
| BOSTON ATHENAEUM BOSTON, MA | ANNUAL FUND | $250 |
| BOURNE CONSERVATION TRUST CATAUMET, MA | CONTRIBUTION | $500 |
| CHARLESTON ANIMAL SOCIETY NORTH CHARLESTON, SC | IN HONOR OF CHELSEA KAROL | $250 |
| CHIMNEY BECKET CORNERS YMCA BECKET, MA | CONTRIBUTION | $250 |
| CYSTIC FIBROSIS FOUNDATION NATICK, MA | IN HONOR OF CAITLIN O'HARA | $250 |
| ETV ENDOWMENT OF SOUTH CAROLINA SPARTANBURG, SC | SUPPORTING THE FUNDING OF PUBLIC RADIO PROGRAMS | $250 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| STEVEN E KAROL | TRUSTEE | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Steven E and Michelle Karol?
The Steven E and Michelle Karol is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in BOSTON, MA. It holds $74K in total assets as of 2024.
How large is The Steven E and Michelle Karol?
As of 2024, The Steven E and Michelle Karol holds $74K in total assets with $8K in annual revenue. It awarded 24 grants totaling $51K in 2024.
Where does The Steven E and Michelle Karol operate?
The Steven E and Michelle Karol has awarded grants in California, Colorado, District of Columbia, Florida, Illinois, Massachusetts, Maryland, New York, Rhode Island, South Carolina, Tennessee, Virginia, Vermont.
What size grants does The Steven E and Michelle Karol award?
In 2024, The Steven E and Michelle Karol awarded 24 grants totaling $51K — an average of about $2K per grant, based on its IRS Form 990 filings.
How much is The Steven E and Michelle Karol required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Steven E and Michelle Karol reported a distributable amount of $5K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Steven E and Michelle Karol's EIN?
The Steven E and Michelle Karol's EIN (Employer Identification Number) is 04-3282853. IRS Form 990 filing data is available on this page for 2020–2024.
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Browse active grant opportunities in The Steven E and Michelle Karol's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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