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Drexel Funds is a private corporation based in SOUTH BEND, IN. The foundation received its IRS ruling in 2014. It holds total assets of $21.6M. Annual income is reported at $9.3M. The foundation is governed by 9 officers and trustees. The foundation operates in the area of education. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2022 to 2024. According to available records, Drexel Funds has made 130 grants totaling $9.1M, with a median grant of $39K. The foundation has distributed between $4.1M and $4.5M annually from 2022 to 2023. Individual grants have ranged from $262 to $1M, with an average award of $72K. The foundation has supported 61 unique organizations. The foundation primarily supports organizations in Florida, Wisconsin, Louisiana, which account for 56% of all grants. Grantmaking reaches organizations across 16 states. Contributions to this foundation are tax-deductible.
Drexel Funds reported 126 individual grants totaling $9.1 million between 2022 and 2023 across its IRS Form 990-PF filings, with a median grant of $38,903. Half of those grants fell between $15,000 and $97,500. Its largest single grant in the record was $1.0 million. Its most recent available filing, for fiscal year 2023, reports $3.5 million in total giving.
The largest share of grants went to organizations in FL (38 of 126), followed by LA (18) and WI (15). In total the foundation's grantees span 16 states. Of its 61 distinct grantees, 64 percent received funding more than once, so repeat relationships are the norm rather than the exception. Its largest institutional recipients were The Basilica School Of St Mary's Star Of The Sea ($1.1 million), St Marcus Lutheran School ($960,000) and Sailfuture Academy ($587,500).
Computed from 126 individual grant records (2022–2023) in this foundation's IRS Form 990-PF Part XV filings, reaching 16 states. Source: IRS 990-PF.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Drexel Funds primarily funds organizations in the area of education. Based on available records, the foundation has funded 130 grants. Its grantmaking reaches organizations primarily in FL, WI, LA.
Drexel Funds has distributed a total of $9.1M across 130 grants. The median grant size is $39K, with an average of $72K. Individual grants have ranged from $262 to $1M.
Drexel Funds typically selects its grantees rather than accepting unsolicited proposals.
Drexel Funds is headquartered in SOUTH BEND, IN. While based in IN, the foundation distributes grants to organizations across 16 states.
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| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| John Eriksen | MANAGING PARTNER | $272K | $30K | $302K |
| Abigail Schumwinger | TRUSTEE | $0 | $0 | N/A |
| Darla Romfo | TRUSTEE | $0 | $0 | N/A |
| Michael Messner | TRUSTEE | $0 | $0 | N/A |
| Darren Jackson | SECRETARY | $0 | $0 | N/A |
| Nick Howley | TRUSTEE | $0 | $0 | N/A |
| Thomas J Healey | TREASURER | $0 | $0 | N/A |
| Christopher Wilson | TRUSTEE | $0 | $0 | N/A |
| Bj Cassin | CHAIRMAN | $0 | $0 | N/A |
Total Giving
N/A
Total Assets
$21.6M
Fair Market Value
N/A
Net Worth
$19.8M
Grants Paid
N/A
Contributions
N/A
Net Investment Income
N/A
Distribution Amount
N/A
Total Grants
130
Total Giving
$9.1M
Average Grant
$72K
Median Grant
$39K
Unique Recipients
61
Most Common Grant
$25K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| The Basilica School Of St Mary'S Star Of The SeaNETWORK GRANTS | Key West, FL | $1M | 2023 |
| King'S Academy (Tusculum Hills Baptist Church)START-UP GRANTS | Nashville, TN | $275K | 2023 |
| Julie BilliartNETWORK GRANTS | Lyndhurst, OH | $250K | 2023 |
| Partnership SchoolsOTHER SCHOOL SUPPORT | New York, NY | $185K | 2023 |
| Great Hearts FoundationNETWORK GRANTS | Phoenix, AZ | $150K | 2023 |
| Christian School System Dba Indy West ChristianNETWORK GRANTS | Indianapolis, IN | $150K | 2023 |
| Icon Preparatory School ClevelandNETWORK GRANTS | Cleveland, OH | $150K | 2023 |
| Cristo Rey Network Atlanta Jesuit High SchoolNETWORK GRANTS | Atlanta, GA | $150K | 2023 |
| Cristo Rey Research Triangle Hs NcNETWORK GRANTS | Durham, NC | $150K | 2023 |
| Icon Preparatory SchoolNETWORK GRANTS | Tampa, FL | $125K | 2023 |
| Aba Healing AcademyNETWORK GRANTS | New Orleans, LA | $115K | 2023 |
| Cristo Rey Miami High SchoolOTHER SCHOOL SUPPORT | North Miami, FL | $88K | 2023 |
| Sailfuture AcademySTART-UP GRANTS | St Petersburg, FL | $88K | 2023 |
| Coolanu Inc Dba Torah 4 EveryoneFOUNDERS PROGRAM EXPENSES | N Miami Beach, FL | $85K | 2023 |
| The Way AcademyFOUNDERS STIPEND | Minneola, FL | $80K | 2023 |
| Liberty AcademyLEARNING PLAN EXPENSES | Columbus, IN | $75K | 2023 |
| Link School Baton RougeLEARNING PLAN EXPENSES | Baton Rouge, LA | $68K | 2023 |
| Bader Hillel High SchoolOTHER SCHOOL SUPPORT | Glendale, WI | $65K | 2023 |
| Stars Autism Schools FoundationOTHER SCHOOL SUPPORT | Miami, FL | $60K | 2023 |
| Hope Youth RanchNETWORK GRANTS | Hudson, FL | $60K | 2023 |
| Blazing Stars Montessori SchoolNETWORK GRANTS | Dade City, FL | $52K | 2023 |
| Seton Education PartnersOTHER SCHOOL SUPPORT | New York, NY | $50K | 2023 |
| Ecclesial Schools InitiativeOTHER SCHOOL SUPPORT | Oviedo, FL | $50K | 2023 |
| Seton Education Partners (Romero Academy At Annunciation)NETWORK GRANTS | Cincinnati, OH | $50K | 2023 |
| The Julie Billiart SchoolNETWORK GRANTS | Lyndhurst, OH | $50K | 2023 |
| Shepherd'S Watch Christian AcademyNETWORK GRANTS | Mattoon, WI | $35K | 2023 |
| Desert Peach Montessori SchoolNETWORK GRANTS | Reno, NV | $33K | 2023 |
| Kenosha Christian AcademyNETWORK GRANTS | Kenosha, WI | $25K | 2023 |
| Autism Inspired AcademyOTHER SCHOOL SUPPORT | Clearwater, FL | $25K | 2023 |
| Cristo Rey Network - OrlandoPLANNING GRANTS | Chicago, IL | $25K | 2023 |
| Hyacinth Montessori SchoolNETWORK GRANTS | Philadelphia, PA | $25K | 2023 |
| Notre Dame School Of MilwaukeeNETWORK GRANTS | Milwaukee, WI | $25K | 2023 |
| Jupiter Christian SchoolNETWORK GRANTS | West Palm Beach, FL | $23K | 2023 |
| Westside Christian SchoolSTART-UP GRANTS | Columbus, OH | $22K | 2023 |
| Cristo Rey Philadelphia High SchoolSTART-UP GRANTS | Philadelphia, PA | $20K | 2023 |
| Azalea Montessori SchoolNETWORK GRANTS | Norwood, OH | $10K | 2023 |
| Cristo Rey MilwaukeeNETWORK GRANTS | Milwaukee, WI | $7K | 2023 |
| St Marcus Lutheran SchoolNETWORK GRANTS | Milwaukee, WI | $480K | 2022 |
| Misericordia Career And Technical EducationSTART-UP GRANTS | Stuart, FL | $172K | 2022 |