The Steven E and Michelle Karol
The Steven E and Michelle Karol is a private foundation based in Boston, Massachusetts. It reported 24 grants totaling $51,251 in 2024, supporting charitable organizations in several states.
The Steven E and Michelle Karol at a glance
In short: The Steven E and Michelle Karol gave $51K across 24 grants in 2024 (avg $2K), mostly in Florida. 33% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $51,251
- +15.2% vs 2023
- Grants made (2024)
- 24
- -4.0% vs 2023
- Average grant
- $2,135
- +20.0% vs 2023
- Median grant
- $500
- Total assets
- $74,061
- -38.1% vs 2023
- New grantees (estimate)
- 33% first-time grantees (8 of 24, 2024; small sample)
- Primary geography
- Florida (53% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Steven E and Michelle Karol
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states on its 2024 filing that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 321 Newbury Street 2Nd Floor, Boston, MA 02115
Phone: (781) 891-6660
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Steven E and Michelle Karol funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Baptist Health ($27K). Together the top 10 received $47K.
Grant Size Distribution
128 grants across all recorded years
The most common grant size was under $50K: 127 grants of 128 (99%).
Geographic Focus
Where this funder awards grants
In 2024, the largest shares of grant dollars went to recipients in Florida (53%), Massachusetts (27%), and South Carolina (16%). Smaller shares went to recipients in Vermont (2%) and Tennessee (1%).
Grant Distribution by State
Share of 2024 grant dollars across all 24 itemized grants.
States
Cities
Is The Steven E and Michelle Karol open to new grantees?
33%
first-time grantees, 2024
In 2024, 8 of 24 grantees (33%) were first-time recipients. With only 24 grantees, that is a small sample: one grantee more or less moves the share by about 4 points. First grants averaged $5K; repeat grants $734. How we count
Medians: $500 first-time, $250 repeat.
- 63% of 2024 grantees were also funded in 2023. Method
- Giving fell 36% from 2021 to 2024. Method
- In 2024 it paid out 949% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). 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 2020 to 2024, annual grant giving ranged from $45K (2023) to $139K (2022). In 2024 it made 24 grants totaling $51K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Baptist Health Coral Gables, FL | Supporting Hospitals to Provide Improved Health Care | $27,001 |
| Tufts University Medford, MA | Contribution | $10,000 |
| Spring Island Trust Foundation Okatie, SC | General Support | $5,000 |
| Noah's Ark Rescue Ridgeland, SC | Cotribution | $1,000 |
| Rodman for Kids Foxboro, MA | Contribution | $1,000 |
| Vermont Academy Saxtons River, VT | Annual Fund | $1,000 |
| Beaufort Memorial Foundation Beaufort, SC | In Honor of David House | $500 |
| Bourne Conservation Trust Cataumet, MA | Contribution | $500 |
| Hopeful Horizons Beaufort, SC | Contribution | $500 |
| Marshview Community Organic Farm St Helena Island, SC | Contribution | $500 |
Ready to take the next step with The Steven E and Michelle Karol?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $74,061 | $8,318 | $53,836 | $51,251 | 24 | $51,251 | $5,653 | $5,403 |
| 2023 | $119,579 | $2,503 | $54,311 | $44,500 | 25 | $44,500 | $2,503 | $7,877 |
| 2022 | $171,387 | $491,977 | $141,585 | $138,500 | 27 | $138,500 | $189,562 | — |
| 2021 | $9,748 | $100,133 | $82,997 | $80,350 | 24 | $80,350 | $49,273 | $2,071 |
| 2020 | $41,472 | $173,855 | $62,725 | $61,550 | 28 | — | $78,454 | — |
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.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2024 grants went to organizations working in areas including health care, education, youth services, conservation, farming, victim services, and animal welfare. For example, Rodman For Kids says its mission is to benefit disadvantaged youth from all ethnic and cultural backgrounds. Bourne Conservation Trust describes its mission as providing public woodland trails through a wildlife sanctuary, and Hopeful Horizons says it works to protect, treat, and prevent domestic violence, sexual assault, and child abuse.
Grantmaking
In 2024, the foundation made 24 grants totaling $51,251. Grants ranged from $250 to $27,001, with a median grant of $500. The largest awards included $27,001 to Baptist Health for supporting hospitals to provide improved health care, $10,000 to Tufts University, and $5,000 to Spring Island Trust Foundation for general support.
Other listed 2024 grants included $1,000 each to Noah’s Ark Rescue, Rodman For Kids, and Vermont Academy, and $500 each to Beaufort Memorial Foundation, Bourne Conservation Trust, Hopeful Horizons, Marshview Community Organic Farm, St. Jude Children’s Research Hospital, and the National Brain Tumor Society.
Leadership & Key People
Leadership team and compensation from IRS filings
Steven E. Karol was listed as trustee on the 2024 filing.
The Steven E and Michelle Karol is led by Steven E. Karol, Trustee on every filing since 2020 — the only officer listed, and uncompensated.
Officers on the 2024 filing
Steven E. Karol
Trustee
On filings since 2020
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "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 Steven E and Michelle Karol
How much does The Steven E and Michelle Karol give each year?
The Steven E and Michelle Karol gave $51K across 24 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $45K across 25 grants.
What is The Steven E and Michelle Karol's typical grant size?
The Steven E and Michelle Karol's median grant in 2024 was $500, and its average grant was $2,135, across 24 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Steven E and Michelle Karol that year got $5K on average.
Where does The Steven E and Michelle Karol give grants?
The Steven E and Michelle Karol gives mostly in Florida: 53% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were Massachusetts (27%) and South Carolina (16%). The most frequent recipient cities were Boston, MA (4 grants) and Beaufort, SC (2 grants).
Does The Steven E and Michelle Karol give general operating support?
Yes: 17% of The Steven E and Michelle Karol's 2024 grants with a stated purpose (4 of 24) were for general or operating support, per its 2024 IRS Form 990-PF. Recurring purposes include "Contribution" (11 grants).
Who are The Steven E and Michelle Karol's largest grantees?
The Steven E and Michelle Karol's largest 2024 grantees include Baptist Health ($27,001), Tufts University ($10,000) and Spring Island Trust Foundation ($5,000), according to its 2024 IRS Form 990-PF. Together they received 82% of its itemized 2024 grant dollars.
How large is The Steven E and Michelle Karol?
The Steven E and Michelle Karol reported $74K in total assets on its 2024 IRS Form 990-PF. It paid out $51K in qualifying distributions that year, against a required minimum of $5K (roughly 5% of its investment assets).
What does The Steven E and Michelle Karol fund?
No mission statement for the foundation is provided. Its 2024 grants went to organizations working in areas including health care, education, youth services, conservation, farming, victim services, and animal welfare. See mission & focus areas ↑
How do I apply for a grant from The Steven E and Michelle Karol?
The foundation states on its 2024 filing 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 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.
Does The Steven E and Michelle Karol accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). The Steven E and Michelle Karol funder profile. GrantGraph. Retrieved October 12, 2026, from https://grantable.co/funders/the-steven-e-and-michelle-karol-morg_4c799a2c684a443e9d12a019ad330cdb
BibTeX
@misc{grantable_043282853_2026,
author = {{Grantable}},
title = {{The Steven E and Michelle Karol funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-steven-e-and-michelle-karol-morg_4c799a2c684a443e9d12a019ad330cdb},
note = {Accessed 2026-10-12. 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 Steven E and Michelle Karol'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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