Chipstone Foundation

The Chipstone Foundation is a private operating foundation — a critical structural distinction that shapes every element of a potential funding relationship. Unlike conventional grantmakers that distribute most of their annual budget externally, Chipstone deploys the majority of its $5.4 million in annual expenses (FY2024) on its own programs: maintaining the Fox Point collection facility, publishing two scholarly journals, producing digital content, and running exhibitions in partnership with the Milwaukee Art Museum. External cash grants to outside organizations totaled approximately $424,858 in FY2024 and $429,217 in FY2023 — modest sums relative to the foundation's $75.7 million endowment.

Chipstone is explicitly preselected only. The foundation's IRS filings show zero contributions received from outside sources in FY2022 and FY2023, and its database record confirms `preselected_only: true` with no published application instructions. There is no open RFP, no grants portal, and no documented submission deadline on chipstone.org. For grant seekers, this means the path to funding runs entirely through established scholarly relationships and demonstrated institutional credibility in American material culture.

Organizations best positioned for Chipstone funding share these characteristics: deep engagement with American decorative arts, furniture, ceramics, or material culture scholarship; museum-quality collections or curatorial expertise; and a track record of peer-reviewed publication in the field. The foundation's decade-long partnership with the Milwaukee Art Museum (begun in 1999) and its sustained collaboration with the University of Wisconsin-Madison are the models for Chipstone's ideal funding relationships — long-term, institutionally anchored, and intellectually aligned.

Leadership composition reinforces this curatorial orientation. Jonathan Prown, Executive Director and Chief Curator ($287,810 in FY2024), brings scholarly credentials as the primary programmatic decision-maker. W. David Knox II ($605,706 in FY2024) oversees finances and governance. First-time applicants should approach Chipstone as a scholarly partner rather than a conventional funder — the question is not whether your organization needs money, but whether your work advances Chipstone's mission of promoting appreciation and knowledge of American material culture.

Chipstone's grantmaking separates into two distinct financial streams: total organizational giving (which funds the foundation's own operations and programs) and external grants paid to outside organizations.

Total organizational giving (internal programs plus external grants) has ranged from $3.7 million to $5.6 million annually: - FY2019: $4,222,111 - FY2020: $3,719,636 - FY2021: $4,286,918 - FY2022: $5,583,974 - FY2023: $5,452,362

External grants paid (cash to other organizations) are considerably smaller: - FY2019: $211,405 - FY2020: $323,812 - FY2021: $464,380 - FY2022: $503,752 - FY2023: $429,217 - FY2024: $424,858

The grant range documented in 990 data spans from as little as $2 to a maximum of $375,000, per Instrumentl analysis. Three grants recorded in the foundation's database averaged $465,783 with a combined total of $1,397,349 — figures that likely reflect multi-year or larger institutional awards rather than a typical single grant. Smaller individual project grants have been documented well below $50,000.

Geographically, Wisconsin dominates — consistent with the Milwaukee headquarters and Fox Point facility — but 990 disclosures confirm giving reached Tennessee, Maine, New Hampshire, Illinois, Connecticut, New York, and Pennsylvania. This multi-state footprint suggests grants tied to specific scholarly projects or museum exhibitions at institutions across the Northeast and Midwest.

By program area, the foundation's giving concentrates overwhelmingly on decorative arts scholarship and publications (estimated 60-70% of total expenditures), museum partnerships and exhibitions (15-25%), and research fellowships or academic collaborations (10-15%). No grants to social services, health, or general education appear in available disclosures.

Total assets grew from $63.4 million in FY2013 to $75.7 million in FY2024. FY2024 saw a revenue spike to $11.9 million — more than double FY2023's $4.6 million — driven by $6.6 million in net asset sales and $2.2 million in dividends. Net investment income has historically ranged between $3.7 million and $10.1 million annually, providing the endowment capacity to sustain or modestly expand external grantmaking if leadership chooses.

The following foundations share Chipstone's approximate asset level (~$75-76M) and NTEE classification (T23, Private Operating Foundations, Philanthropy & Grantmaking):

Among foundations with comparable endowments, Chipstone stands apart in two critical respects. First, its hyper-specialized focus on American decorative arts scholarship is highly unusual at this asset level — most comparable foundations support broad philanthropic portfolios spanning education, health, and community development. Second, Chipstone's operating foundation structure means its own programs absorb the majority of expenditures, leaving only approximately $400,000-$500,000 annually for external grants — far less than a conventional private foundation of similar size would typically distribute. Grant seekers accustomed to peer foundations at the $75M+ asset level should recalibrate expectations: Chipstone's accessible external grant pool is closer in scale to a $5-$10M traditional private foundation. The Pohlad Family Foundation is the only peer with a public-facing website and disclosed grant process, but its general philanthropic focus bears no programmatic resemblance to Chipstone's academic mission.

No public grant award announcements, leadership changes, or program press releases were found for 2025 or 2026 as of April 2026. The foundation maintains a characteristically low public profile.

The most significant recent programmatic development was the April 2022 launch of *Material Intelligence*, a quarterly digital publication exploring specific materials across historical disciplines. This expanded Chipstone's publishing portfolio beyond *American Furniture* and *Ceramics in America* — both annual scholarly journals the foundation has produced for decades — into more accessible digital formats.

On the governance side, Director Charles F. Hummel retired as Emeritus in June 2023, ending a long board tenure. His departure was documented in FY2023 990 filings. W. David Knox II and Jonathan Prown have remained in their respective senior roles continuously across all recent fiscal years, providing stable leadership continuity.

Financially, FY2024 saw a notable revenue surge to $11.9 million (from $4.6M in FY2023), attributable to $6.6 million in net asset sales — the largest such gain in the 10-year financial record available. No acquisition, divestiture, or portfolio announcement accompanied this data in public filings.

The foundation's active digital programs — the *Object Lab* series, *Object Lessons* educational content, and the *Cellar Door* podcast — represent ongoing investment in public engagement beyond traditional print scholarship. The UW-Madison teaching partnership and Milwaukee Art Museum relationship both appear to remain active based on web research and institutional references.

Understanding Chipstone's preselected-only posture is the single most important piece of intelligence for any prospective applicant. The foundation does not publish an RFP, maintain a grants portal, or list application deadlines anywhere on chipstone.org. Unsolicited requests are explicitly not invited. This does not make engagement impossible — it means the pathway is relationship-driven rather than application-driven.

Build scholarly credibility first. Executive Director Jonathan Prown (jprown@chipstone.org) is a leading scholar of American material culture. Publications, peer-reviewed articles, and conference presentations on American furniture, ceramics, or decorative arts are the most effective entry points. Organizations whose staff have contributed to or peer-reviewed for *American Furniture* or *Ceramics in America* are more likely to come to Chipstone's attention organically.

Target institutional partnerships, not project grants. Chipstone's documented relationships — Milwaukee Art Museum (since 1999), UW-Madison — are multi-year, institutionally anchored collaborations, not single-project awards. Frame any potential engagement as a sustained scholarly partnership rather than a one-time grant request.

Lead with academic credentials, not organizational scale. In any introductory correspondence, foreground the scholarly credentials of your curators, researchers, or principal investigators. Chipstone is led by curators, not program officers, so academic rigor and museum-quality scholarship carry more weight than community impact metrics or organizational budget size.

Optimal timing: There is no disclosed grant cycle. Fiscal year-end is December 31. Introductory contact in Q1-Q2 (January through June) may align with early-stage planning before year-end disbursement decisions.

Common mistakes to avoid: Do not pitch community programs, social services, or general education — these are categorically outside Chipstone's scope. Do not open with a six-figure funding request; given the ~$425K annual external grant pool, even a $100,000 ask represents nearly a quarter of the total annual budget for outside grants.

Language that resonates: Frame proposals around scholarship, connoisseurship, material culture, American decorative arts, object-based learning, and craft tradition. Chipstone's own foundational language — 'newer ways to look at old things' — signals a preference for fresh scholarly perspectives on established collections and periods.

First contact: Administrator Veronica Jasper at vjasper@chipstone.org or (414) 220-4321 is the appropriate initial point of contact for any administrative inquiry.