Third Federal Foundation
Third Federal Foundation is a private foundation based in Cleveland, Ohio. Its charitable giving supports conditions for successful homeownership, with emphasis on affordable housing, financial literacy, education, and neighborhood revitalization. It serves low- and moderate-income communities in greater Cleveland and Akron and select Florida markets, with a special focus on Cleveland’s Slavic Village neighborhood.
Third Federal Foundation at a glance
In short: Third Federal Foundation gave $2.8M across 101 grants in 2025 (avg $27K), mostly in Ohio. 12% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $2,771,421
- -29.4% vs 2024
- Grants made (2025)
- 101
- +11.0% vs 2024
- Average grant
- $27,440
- -36.4% vs 2024
- Median grant
- $15,000
- Total assets
- $28,013,119
- -0.0% vs 2024
- New grantees (estimate)
- 12% first-time grantees (12 of 101, 2025)
- Primary geography
- Ohio (83% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Third Federal Foundation
- How to Apply
-
The Foundation’s 2025 filing says it does not restrict giving to preselected organizations, and describes written applications. Submissions should explain the nature of the request, the charitable or educational purpose of the grant, and the requesting organization’s charitable or educational programs. The Foundation’s website says proposals are invited based on alignment with its giving focus; if it sees potential to invite a proposal, it will request more information. Eligible organizations must meet the stated 501(c)(3) requirements.
- Review Cycle
- The filing states there are no submission deadlines and that requests are evaluated in a timely manner.
- Deadline
- The filing states there are no submission deadlines and that requests are evaluated in a timely manner.
- Contact
Application contact: Third Federal Foundation Co Emily T
Mailing address: 7007 Broadway Avenue, Cleveland, OH 44105-1441
Phone: (216) 641-7270
Website: https://thirdfederal.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Third Federal Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Cleveland Central Catholic High School ($300K). Together the top 10 received $1.0M.
Organizations only. It also paid 1 grant to individuals ($10,000), which are not listed by name.
Grant Size Distribution
521 grants across all recorded years
The most common grant size was under $50K: 372 grants of 521 (71%).
Geographic Focus
Where this funder awards grants
The Foundation’s stated service area includes greater Cleveland and Akron, Ohio, and select Florida markets, with special emphasis on Slavic Village. In 2025, its filing reported that grant dollars went to recipients in Ohio (83%), Florida (17%), and New York (1%); the percentages may not total 100% because of rounding.
Grant Distribution by State
Share of 2025 grant dollars across all 101 itemized grants.
Cities
Is Third Federal Foundation open to new grantees?
12%
first-time grantees, 2025
In 2025, 12 of 101 grantees (12%) were first-time recipients. First grants averaged $12K; repeat grants $29K. How we count
Medians: $10K first-time, $15K repeat.
- 83% of 2025 grantees were also funded in 2024. Method
- Giving fell 47% from 2022 to 2025. Method
- In 2025 it paid out 170% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). 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 2025, annual grant giving ranged from $2.8M (2025) to $5.2M (2022). In 2025 it made 101 grants totaling $2.8M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Cleveland Central Catholic High School Cleveland, OH | Charitable Purpose | $300,000 |
| Boys and Girls Club of Cleveland Cleveland, OH | Charitable Purpose | $100,000 |
| St Stanislaus Cleveland, OH | Charitable Purpose | $100,000 |
| University Settlement Cleveland, OH | Charitable Purpose | $100,000 |
| Jennings Center for Older Adults Garfield Heights, OH | Charitable Purpose | $88,000 |
| Cleveland Neighborhood Progress Cleveland, OH | Charitable Purpose | $75,000 |
| Tampa Bay Neighborhood Housing Services Inc Clearwater, FL | Charitable Purpose | $75,000 |
| City Year Cleveland Cleveland, OH | Charitable Purpose | $65,000 |
| America Scores Cleveland Cleveland, OH | Charitable Purpose | $60,000 |
| Slavic Village Development Cleveland, OH | Charitable Purpose | $60,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $28,013,119 | $2,869,952 | $2,927,037 | $2,771,421 | 101 | $2,772,600 | $2,829,096 | $1,635,358 |
| 2024 | $28,016,788 | $3,057,250 | $4,189,219 | $3,928,200 | 91 | $4,030,721 | $3,025,018 | $1,452,435 |
| 2023 | $29,028,686 | $2,916,943 | $5,268,587 | $4,680,421 | 112 | $5,143,159 | $2,886,806 | $1,626,929 |
| 2022 | $31,363,119 | $1,393,967 | $5,832,639 | $5,223,800 | 121 | $5,721,572 | $2,007,894 | $1,975,029 |
| 2021 | $35,709,526 | $3,618,702 | $5,967,804 | $4,458,342 | 96 | $5,846,722 | $3,573,713 | $2,540,038 |
| 2020 | $38,057,359 | $3,794,293 | $5,046,576 | $3,913,085 | 108 | — | $3,747,952 | $2,348,583 |
Under IRS private-foundation payout rules, Third Federal Foundation reported a distributable amount of $1.6M for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The Foundation’s stated purpose is to strengthen the conditions for successful homeownership. Its priorities include affordable housing, community stability and revitalization, financial literacy, and education. Its 2025 filing also describes support for community development and redevelopment of economically depressed areas, as well as education initiatives at primary, secondary, and post-secondary levels.
The Foundation’s 2025 filing restricts grants to organizations operating charitable or educational programs that qualify under section 501(c)(3). Examples of supported organizations illustrate a range of work: CHN Housing Partners says its mission is to leverage affordable housing to improve lives and communities; Slavic Village Development says it works with residents, businesses, and institutions on civic engagement, community empowerment, and neighborhood investment; and America SCORES Cleveland says it inspires urban youth to lead healthy lives, engage as students, and build confidence and character. University Settlement describes its mission as offering individuals and families resources to learn, grow, and thrive.
Grantmaking
In filing year 2025, the Foundation reported 101 grants totaling $2,771,421. Awards ranged from $500 to $300,000, with a median grant of $15,000. Among its largest grants were $300,000 to Cleveland Central Catholic High School; $100,000 each to Boys and Girls Club of Cleveland, St. Stanislaus, and University Settlement; and $88,000 to Jennings Center for Older Adults. Other notable 2025 grants included $75,000 each to Cleveland Neighborhood Progress and Tampa Bay Neighborhood Housing Services, and $60,000 each to City Year Cleveland, America SCORES Cleveland, and Slavic Village Development.
Leadership & Key People
Leadership team and compensation from IRS filings
The Foundation’s 2025 filing lists Marc A. Stefanski as chairman and director; Emily Thome as president; Daniel Weir, John Marino, Robert A. Fiala, and Terri Owens-Johnson as directors; Sarah Grosso as treasurer; and Kitty Danckers as secretary.
Third Federal Foundation is led by Emily Thome, President since 2022 (on filings since 2020); none of the 8 officers listed in 2025 report compensation.
Officers on the 2025 filing
Emily Thome
President
Vice President → President, 2022
On filings since 2020
40 hrs/week
$235K (2020) → $0 (2025)
Marc A. Stefanski
Chairman & Director
On filings since 2020
5 hrs/week
No compensation reported
John Marino
Director
On filings since 2020
5 hrs/week
No compensation reported
Robert A. Fiala
Director
On filings since 2020
5 hrs/week
No compensation reported
Daniel Weir
Director
On filings since 2023
5 hrs/week
No compensation reported
Terri Owens-Johnson
Director
On filings since 2023
5 hrs/week
No compensation reported
Sarah Grosso
Treasurer
On filings since 2020
5 hrs/week
No compensation reported
Kitty Danckers
Secretary
On filings since 2023
5 hrs/week
No compensation reported
Former officers (3)
- Former: Lisa Hamilton (2020–2022) — Director
- Former: Nancy Cox (2020–2022) — Secretary
- Former: Kurt Karakul (2020–2021) — President & Executive Director
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $65K, to Emily Thome (President).
Frequently asked questions about Third Federal Foundation
How much does Third Federal Foundation give each year?
Third Federal Foundation gave $2.8M across 101 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $3.9M across 91 grants.
What is Third Federal Foundation's typical grant size?
Third Federal Foundation's median grant in 2025 was $15,000, and its average grant was $27,440, across 101 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Third Federal Foundation that year got $12K on average.
Where does Third Federal Foundation give grants?
Third Federal Foundation gives mostly in Ohio: 83% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Florida (17%). The most frequent recipient cities were Cleveland, OH (57 grants), Tampa, FL (5 grants), West Palm Beach, FL (4 grants) and Akron, OH (3 grants).
Who are Third Federal Foundation's largest grantees?
Third Federal Foundation's largest 2025 grantees include Cleveland Central Catholic High School ($300,000), Boys and Girls Club of Cleveland ($100,000) and St Stanislaus ($100,000), according to its 2025 IRS Form 990-PF. It also paid 1 grant to individuals ($10,000), which are not listed by name. Together they received 18% of its itemized 2025 grant dollars.
How large is Third Federal Foundation?
Third Federal Foundation reported $28.0M in total assets on its 2025 IRS Form 990-PF. It paid out $2.8M in qualifying distributions that year, against a required minimum of $1.6M (roughly 5% of its investment assets).
What does Third Federal Foundation fund?
The Foundation’s stated purpose is to strengthen the conditions for successful homeownership. Its priorities include affordable housing, community stability and revitalization, financial literacy, and education. See mission & focus areas ↑
How do I apply for a grant from Third Federal Foundation?
The Foundation’s 2025 filing says it does not restrict giving to preselected organizations, and describes written applications. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Third Federal Foundation's EIN?
Third Federal Foundation's EIN (Employer Identification Number) is 20-8467212. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS July 23, 2026)
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Third Federal Foundation funder profile. GrantGraph. Retrieved October 10, 2026, from https://grantable.co/funders/third-federal-foundation-morg_0a91335eb9394a2fb15cfb15ae4bb707
BibTeX
@misc{grantable_208467212_2026,
author = {{Grantable}},
title = {{Third Federal Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/third-federal-foundation-morg_0a91335eb9394a2fb15cfb15ae4bb707},
note = {Accessed 2026-10-10. 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 Third Federal Foundation'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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