Ann Theodore Foundation

The Ann Theodore Foundation, established in 2018 and governed solely by Trustee Amy Naughton from Boston, MA, operates as a high-conviction private trust deploying capital in focused, multi-year commitments rather than broad scattershot philanthropy. With $73.6 million in assets and $9.3 million in annual giving as of 2023, the foundation operates with an intentional spend-down philosophy — assets have declined from $95.2 million at founding while giving has risen 72%, signaling urgency and mission alignment over capital preservation. The 12.6% payout rate in 2023 is more than double the IRS minimum of 5%, a strong indicator that the foundation is accelerating, not decelerating.

All general grant applications are by invitation only. The foundation explicitly does not accept unsolicited proposals, which means cold outreach is virtually never productive. The relationship pathway typically begins through one of the foundation's established programmatic channels: the scholarship program (managed by The Philanthropic Initiative in Boston) or the Milken Institute SPARC sarcoidosis research grants. Organizations outside these channels should focus on building visibility through peer grantees or affiliated intermediaries already in the foundation's network.

The foundation favors organizations with hyperlocal roots in three communities: Roosevelt and North Babylon, New York; Manchester, New Hampshire; and Eastern Massachusetts. Of 69 documented grants totaling $14.5 million, NH and MA account for 34 grants combined — 49% by count — reflecting deep community ties rather than national distribution. Organizations outside these geographies must align precisely with the foundation's national program areas: sarcoidosis research (exclusively through Milken Institute SPARC) or climate mitigation targeting systemic, scalable solutions.

The foundation's giving philosophy is explicitly equity-centered, favoring programs that open pathways to opportunity regardless of race or socioeconomic status. Successful grantees — including National Society of Black Engineers, Artists for Humanity, Year Up, and Children of Promise NYC — share rigorous program models demonstrating measurable economic mobility for low-income or historically underserved populations. First-time organizations seeking engagement should lead with outcome data rather than need narratives, and must demonstrate genuine alignment with the foundation's community geography before expecting a conversation.

Ann Theodore Foundation's grantmaking data reveals a concentrated portfolio with a clear upward trajectory. Total documented grants reach $14,517,712 across 69 awards, with an average grant of $210,402 and a median of approximately $125,000. Grant sizes range from $10,000 (small community organizations such as YWCA New Hampshire and Furthering Fathering Corporation) to $1,500,000 (the upper bound per the foundation's own parameters, with the largest documented single award being $2,380,000 to its internal Ann Theodore Foundation Scholarship Fund across two grants).

Annual giving has grown consistently across all six years of operation: $5.4M (2018), $5.6M (2019), $6.8M (2020), $7.6M (2021), and $9.3M (2022-2023). This 72% increase over five years, occurring while total assets fell from $95.2M to $73.6M, confirms a deliberate accelerating spend-down strategy.

By program area, sarcoidosis research commands the largest share in absolute dollars. The top six research grants alone — National Jewish Health ($789K), Duke University ($575K), UC San Francisco ($575K), Johns Hopkins ($575K), University of Iowa Foundation ($575K), and Ohio State University Foundation ($300K) — total $3.39 million. ATF-BSI has committed over $11 million to sarcoidosis research since 2020, making it the foundation's single biggest financial commitment area.

Education and youth development dominate by grant count. Grants to the Ann Theodore Foundation Scholarship Fund ($2.38M), Roosevelt Union Free School District ($963K), Harmony Program ($520K), The Food Project ($500K), Artists for Humanity ($450K), Philanthropy Massachusetts ($400K), and Year Up ($300K) collectively represent the foundation's second largest concentration. Most recurring grantees receive $100,000-$300,000 per annual cycle over two-year commitments.

Geographically, NH and MA dominate (34 of 69 grants). NY follows with 11 grants, primarily serving Long Island and NYC communities. DC grantees (4 grants) tend to be national-scope organizations. Colorado, California, Iowa, Maryland, North Carolina, and Virginia each receive 1-4 grants for sarcoidosis research or climate work. Multi-year commitments are standard: 41 of 50 top grantees show exactly 2 grants, suggesting annual renewal is the norm for established relationships.

The Ann Theodore Foundation occupies a distinctive niche among comparably-sized private foundations. Its peers in the $73-74 million asset range typically concentrate on a single geography or issue area and operate at standard 5-6% payout rates. Ann Theodore is unusual in maintaining multiple program areas while deploying capital at more than twice the IRS minimum payout rate.

Ann Theodore's 12.6% payout rate stands out sharply against the peer set. Foundations at this asset level operating near the 5% minimum would give approximately $3.5-3.7M annually; Ann Theodore gives $9.3M, a gap of nearly $5.6M per year. Its partnership structure with the Milken Institute SPARC — offloading scientific peer review and grant administration to a specialized external partner — is a sophisticated model that allows a single-trustee foundation to run a nationally competitive sarcoidosis research program without internal scientific staff. Comparable disease-focused foundations of this size (e.g., Cystic Fibrosis Foundation affiliates or rare-disease trusts) typically require larger internal teams or limit themselves to established academic medical centers.

The most significant recent development is the February 20, 2026 launch of the ATF Sarcoidosis Inhibitor of mTOR (SIM) Trial grant — a new $575,000 two-year award supporting an investigator-initiated clinical trial for cutaneous sarcoidosis treatment using repurposed mechanistic target of rapamycin (mTOR) inhibitors. This marks the foundation's first foray into clinical trial funding, a meaningful escalation from the basic science orientation of prior ATF-BSI rounds. Applications closed April 20, 2026; awardees will be announced in June 2026.

In October 2025, the Milken Institute and Ann Theodore Foundation announced ATF-BSI fourth-round results: five grants totaling more than $2.5 million to interdisciplinary research teams at institutions including those in the US and internationally. Simultaneously, they launched both a fifth ATF-BSI round (full proposals due January 19, 2026) and the inaugural ATF-LOMAS program for early-career investigators (awards up to $100,000/year for two years; applications closed October 27, 2025). These parallel launches signal a deliberate expansion of the sarcoidosis research pipeline in breadth and career stage.

No leadership changes have been announced; Amy Naughton remains the sole trustee. The foundation maintains no public annual report, press room, or active social media presence. The Milken Institute FasterCures / SPARC news hub is the primary real-time information source for foundation announcements. On the community programs side, the foundation's grantee list on its website was updated to reflect new climate partners (GreenWave, Grid Alternatives) alongside longstanding youth development grantees, suggesting ongoing quiet expansion in the climate portfolio.

The single most critical fact about the Ann Theodore Foundation: standard grant applications do not exist for most of its work. The foundation categorically rejects unsolicited proposals, and this applies to all program areas except the scholarship and the Milken Institute-administered sarcoidosis research grants. For community organizations, the only viable path is relationship-building through current grantees or affiliated intermediaries.

For sarcoidosis researchers: All grant programs — ATF-BSI, ATF-LOMAS, and the new SIM Trial — are administered through the Milken Institute SPARC via the smapply.io platform. Projects must be led by doctorate-level investigators at qualifying research institutions. ATF-BSI favors interdisciplinary teams (up to $575,000 over two years at $287,500/year including 15% indirect) over individual investigators (up to $460,000 over two years at $230,000/year). Milken Institute hosts information sessions 2-4 weeks after each RFP release — attending is strongly recommended as program officers clarify scope and eligibility questions directly. Proposals should center on the underlying biology and epidemiology of sarcoidosis. For the SIM program, focus on repurposed mTOR inhibitors specifically, not novel drug development. Budget notes: 15% indirect costs are permitted on direct costs; this is non-negotiable.

For scholarship applicants: Applications are managed by The Philanthropic Initiative (contact: anntheodorescholarship@tpi.org). Apply through the GrantInterface portal. Applications open in February; the deadline is historically early May (5:00 pm sharp). Eligibility is tightly geographic — current residents or high school graduates from Roosevelt, NY; North Babylon, NY; or Manchester, NH only. Mandatory materials include: FAFSA Student Aid Report (all five pages), financial aid award letter, transcripts, and essays addressing the portal's specific questions. Essays must demonstrate unmet financial need exceeding $10,000 beyond current aid AND articulate a specific personal narrative connecting the scholarship to career and life goals. Vague aspirational statements are not competitive.

For community nonprofits: Do not contact the foundation cold. Identify current grantees in your geography (The Food Project, Manchester Community Music School, New Hampshire Jobs for America's Graduates, Artists for Humanity) and pursue warm introductions through program leadership. Frame your work around economic mobility metrics and target populations in the foundation's three core communities.