Third Federal Foundation is a corporate foundation based in Cleveland, Ohio, established in 2007 as part of the initial public offering of Third Federal Savings and Loan. The foundation is classified as a 501(c)(3) organization and operates as a grantmaking foundation focused on supporting nonprofit organizations in education and community development.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$28.0M
-3.5% YoY
Annual Giving
$3.9M
-16.1% YoY
Grant Count
91
-18.8% YoY
Avg Grant Size
$43K
+3.3% YoY
Under IRS private-foundation payout rules, Third Federal Foundation reported a distributable amount of $1.5M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation supports nonprofit organizations involved with education and community development. Special emphasis is directed toward programs designed to raise the aspirations of students in the community and enhance knowledge of specific areas, including economics, communications, business, and public speaking.
The foundation's grantmaking priorities include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
Grantmaking
The foundation made 74 grants totaling $3,469,700 in documented recent activity.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Ohio, Florida, and New York, with particular emphasis on Cleveland and the surrounding region. The foundation has demonstrated a long-term commitment to Cleveland's neighborhoods, including Slavic Village.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $28,016,788
- Total revenues: $3,057,250
- Total expenses: $4,189,219
- Total liabilities: $0
As of 2023:
- Total assets: $29,000,000
- Total revenues: $2,920,000
- Total expenses: $5,270,000
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $28,016,788 | $29,028,686 | $31,363,119 |
| Revenue | $3,057,250 | $2,916,943 | $1,393,967 |
| Expenses | $4,189,219 | $5,268,587 | $5,832,639 |
| Qualifying Distributions | $4,030,721 | $5,143,159 | $5,721,572 |
| Net Investment Income | $3,025,018 | $2,886,806 | $2,007,894 |
| Distributable Amount | $1,452,435 | $1,626,929 | $1,975,029 |
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
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Cleveland Central Catholic High School ($300,000), Boys and Girls Club of Cleveland ($125,000), Gilmour Academy ($110,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ABE BROWN MINISTRIES TAMPA, FL | CHARITABLE PURPOSE | $2,500 |
| AMERICA SCORES CLEVELAND CLEVELAND, OH | CHARITABLE PURPOSE | $75,000 |
| ANOTHER CHANCE OF OHIO CLEVELAND, OH | CHARITABLE PURPOSE | $50,000 |
| ARTS IMPACT CLEVELAND, OH | CHARITABLE PURPOSE | $30,000 |
| BEAT THE STREETS CLEVELAND, OH | CHARITABLE PURPOSE | $5,000 |
| BLESSING HOUSE LORAIN, OH | CHARITABLE PURPOSE | $1,000 |
| BOYS AND GIRLS CLUB OF CLEVELAND CLEVELAND, OH | CHARITABLE PURPOSE | $125,000 |
| BOYS AND GIRLS CLUBS OF COLLIER COUNTY NAPLES, FL | CHARITABLE PURPOSE | $10,000 |
| BOYS AND GIRLS CLUBS OF SARASOTA COUNTY SARASOTA, FL | CHARITABLE PURPOSE | $10,000 |
| BOYS HOPE GIRLS HOPE CLEVELAND, OH | CHARITABLE PURPOSE | $15,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARC A STEFANSKI | CHAIRMAN & DIRECTOR | 5 | — |
| EMILY THOME | PRESIDENT | 40 | $65,424 |
| DANIEL WEIR | DIRECTOR | 5 | — |
| JOHN MARINO | DIRECTOR | 5 | — |
| ROBERT A FIALA | DIRECTOR | 5 | — |
| TERRI OWENS-JOHNSON | DIRECTOR | 5 | — |
| SARAH GROSSO | TREASURER | 5 | — |
| KITTY DANCKERS | SECRETARY | 5 | — |
Recent News & Activity
Recent developments and announcements
In 2023, the foundation awarded a special $85,000 grant to College Now Greater Cleveland in honor of the 85th anniversary of Third Federal Savings & Loan.
Markets - Financial Advisors - College Now Greater Cleveland Receives SpecialIn 2021, the foundation donated $500,000 to The Literacy Cooperative to support child literacy initiatives in Cleveland.
Literacy Cooperative raises awareness of Cleveland's child literacy ...Contact Information
Address: 7007 Broadway Avenue, Cleveland, OH 44105-1441
Phone: 216-429-5412
Website: www.thirdfederal.com/our-advantage/community-support
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Third Federal Foundation fund?
The foundation supports nonprofit organizations involved with education and community development. Special emphasis is directed toward programs designed to raise the aspirations of students in the community and enhance knowledge of specific areas, including economics, communications, business, and public speaking. The foundation's grantmaking priorities include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services
How do I apply for a grant from Third Federal Foundation?
**Grant Activity & Amounts:** • Total giving in 2024: $3,928,200 • Typical award range: $500–$535,000 • Recent notable grants (2024): • University Settlement: $430,000 • Cleveland Central Catholic High School: $300,000 • Two Foundation: $151,200 The foundation made 74 grants totaling $3,469,700 in documented recent activity.
Where does Third Federal Foundation make grants?
The foundation primarily funds organizations in Ohio, Florida, and New York, with particular emphasis on Cleveland and the surrounding region. The foundation has demonstrated a long-term commitment to Cleveland's neighborhoods, including Slavic Village.
What size grants does Third Federal Foundation award?
In 2024, Third Federal Foundation awarded 91 grants totaling $3.9M — an average of about $43K per grant, based on its IRS Form 990 filings.
How much is Third Federal Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Third Federal Foundation reported a distributable amount of $1.5M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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 2020–2024.
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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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