The Veale Foundation
The Veale Foundation is a private philanthropic organization established in 1964 by Harriet and Tinkham Veale. Based in Pepper Pike, Ohio, the foundation operates as a 501(c)(3) nonprofit with a mission to improve the quality of life for residents, primarily in Northeast Ohio. The foundation maintains a staff of 3 employees and operates the Veale Youth Entrepreneurship Forum (VYEF), a signature program established in 2012.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$122.2M
+0.9% YoY
Annual Giving
$6.9M
-6.7% YoY
Grant Count
57
+9.6% YoY
Avg Grant Size
$120K
-14.9% YoY
Under IRS private-foundation payout rules, The Veale Foundation reported a distributable amount of $8.4M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Veale Foundation is committed to supporting charitable causes in the following areas:
- Education (elementary, secondary, and higher education)
- Human and Social Services
- Civic and Community Development
- Healthcare
- Children and Youth Development
- International Relations and Foreign Policy
The foundation places particular emphasis on entrepreneurship education and youth development, honoring the legacy of Tinkham Veale II, a successful businessman and co-founder of Alco Standard Corporation in the 1960s.
Grantmaking
The foundation does not publicly disclose decision timelines or success rates. Inquiries regarding the Youth Entrepreneurship Forum can be directed to programs@vealefound.org.
Grant Range
$10,000 to $20,000,000
Average Grant
$141,209 to $629 (depending on calculation method)
How to Apply
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Geographic Focus
Where this funder awards grants
The Veale Foundation primarily supports organizations located in Northeast Ohio, with particular concentration in the Pepper Pike area. The foundation also extends funding to select organizations in:
- Washington, DC
- Florida
- Georgia
- Indiana
- Maine
- New York
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (as of 2024):
- Total Assets: $122,186,644
- Total Revenues: $12,596,602
- Total Expenses: $8,370,689
- Total Liabilities: $1,140 (2023)
Historical Context: The foundation has contributed more than $76 million to Case Western Reserve University alone, supporting multiple facilities and programs.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $122,186,644 | $121,152,263 | $126,388,108 |
| Revenue | $12,596,602 | $7,471,341 | $2,052,154 |
| Expenses | $8,370,689 | $8,944,440 | $8,413,753 |
| Qualifying Distributions | $7,296,362 | $7,808,126 | $6,804,394 |
| Net Investment Income | $11,544,400 | $6,361,263 | $999,154 |
| Distributable Amount | $8,367,543 | $7,735,210 | $7,741,970 |
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
246 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include University Hospitals ($5,000,000), Case Western Reserve University ($573,000), American Foreign Policy Council ($400,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN FOREIGN POLICY COUNCIL WASHINGTON, DC | GENERAL FUND | $400,000 |
| AMERICAN RED CROSS CLEVELAND, OH | GENERAL FUND | $25,000 |
| BEAUMONT SCHOOL CLEVELAND HEIGHTS, OH | GENERAL FUND | $10,000 |
| BENEDICTINE HIGH SCHOOL CLEVELAND, OH | GENERAL FUND | $10,000 |
| Bluecoats BEACHWOOD, OH | GENERAL FUND | $10,000 |
| CASE WESTERN RESERVE UNIVERSITY CLEVELAND, OH | VEALE INSTITUTE & ENGINEERING SCHOOL& VEALE NATATORIUM & SNYDER ENTREPRENEURIAL FELLOWSHIP & GENERAL FUND | $573,000 |
| CHAGRIN FALLS EDUCATIONAL FDN CHAGRIN FALLS, OH | GENERAL FUND | $10,000 |
| CLEVELAND MUSEUM OF ART CLEVELAND, OH | GENERAL FUND | $25,000 |
| CLEVELAND MUSEUM OF NATURAL HISTORY CLEVELAND, OH | GENERAL FUND | $26,000 |
| CLEVELAND CLINIC CLEVELAND, OH | GENERAL FUND | $25,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Daniel P. Harrington – Chairman
- Brant Fairchild – Executive Director (compensation: $109,748 as of 2024)
Additional trustees serve on the foundation's board without compensation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DANIEL HARRINGTON | CHAIRMAN | 4 | — |
| WILLIAM JAMES CULBERTSON | TRUSTEE | 0.5 | — |
| WILLIAM BRANCOVSKY | TRUSTEE | 0.5 | — |
| THOMAS HARRINGTON | TRUSTEE | 0.5 | — |
| THOMAS DICARRO | TRUSTEE | 4 | — |
Recent News & Activity
Recent developments and announcements
The Veale Foundation announced support for the establishment of the **University Hospitals Veale Healthcare Transformation Institute**, demonstrating the foundation's commitment to healthcare innovation and transformation in Northeast Ohio.
Veale Foundation\u2019s Visionary Support to Launch Veale HealthcareThe foundation continues to operate the **Veale Youth Entrepreneurship Forum**, offering free programs and resources to high school students and educators throughout Northeast Ohio. VYEF programs focus on developing entrepreneurial mindsets, creative and analytical thinking, problem-solving, and business opportunity recognition.
Frequently Asked Questions
What does The Veale Foundation fund?
The Veale Foundation is committed to supporting charitable causes in the following areas: • **Education** (elementary, secondary, and higher education) • **Human and Social Services** • **Civic and Community Development** • **Healthcare** • **Children and Youth Development** • **International Relations and Foreign Policy** The foundation places particular emphasis on entrepreneurship education and youth development, honoring the legacy of Tinkham Veale II, a successful businessman and co-founde…
How do I apply for a grant from The Veale Foundation?
**Grant Activity (2023-2024):** • Annual giving: approximately $7.3 million (2023) and $6.85 million (2024) • Number of grants: 52 grants in 2023; 40 grants in 2024 • Grant range: $10,000 to $20,000,000 • Median grant size: $10,000 • Average grant size: $141,209 to $629 (depending on calculation method) **Recent Grant Recipients (2024):** • Case Western Reserve University: $573,000 (Veale Institute, Engineering School, Veale Natatorium, Snyder Entrepreneurial Fellowship, and General Fund) • Ame…
Where does The Veale Foundation make grants?
The Veale Foundation primarily supports organizations located in **Northeast Ohio**, with particular concentration in the Pepper Pike area. The foundation also extends funding to select organizations in: • Washington, DC • Florida • Georgia • Indiana • Maine • New York
What size grants does The Veale Foundation award?
In 2024, The Veale Foundation awarded 57 grants totaling $6.9M — an average of about $120K per grant, based on its IRS Form 990 filings.
How much is The Veale Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Veale Foundation reported a distributable amount of $8.4M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Veale Foundation's EIN?
The Veale Foundation's EIN (Employer Identification Number) is 34-6565830. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Veale Foundation'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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