Jasteka Foundation Inc.

Jasteka Foundation Inc. occupies a distinctive niche among family foundations: it is simultaneously a private grantmaking entity and the operator of a functioning contemporary art gallery and cultural center at 101 Logistics Avenue, Jeffersonville, Indiana. That dual identity is the essential entry point for understanding how the foundation thinks about giving. James S. Karp (Chairman) and Irene J. Karp (Secretary/Treasurer) are committed arts patrons whose personal relationships, aesthetic values, and community ties drive every award decision — there are no program officers, no advisory committees, and no staff compensation.

The IRS filing's terse instruction — 'NO PRESCRIBED FORMAT' — is not a casual omission. It is a signal that Jasteka does not operate a competitive open-grant process. Giving flows from relationships the Karps maintain with organizations they know personally across three corridors: Louisville/Jefferson County (Kentucky), Palm Beach (Florida), and Manhattan (New York). Jeffersonville grants are fewer and smaller despite being the legal headquarters; the Indiana presence is programmatic rather than primarily grantmaking.

First-time applicants should frame this as a long-term cultivation opportunity. Organizations fitting the profile — arts institutions, orchestras, museums, K-12 schools, universities, and community programs in the three core geographies — should initiate contact by sending a concise organizational introduction to Cynthia M. Padgett at info@jasteka.org. The letter should be brief (one to two pages), plainly written, and articulate how the organization's mission embodies arts access, creative education, or cultural engagement. Avoid programmatic jargon; the Karps are patrons, not professional program staff.

Relationship progression is multi-year. The top grantees — River Ridge Learning Center ($1.87M cumulative across 3 award cycles), Center for Creative Education ($920K), Speed Art Museum ($722K), Louisville Orchestra ($708K) — all appear in 3 consecutive grant cycles in the public record. New entrants should expect an initial award well below the $61,030 database average; the reported median of $5,000 indicates that most new relationships begin at modest token-level recognition. Patience and organic engagement with the Jasteka Cultural Center's Fine Art Fridays programming — particularly for Louisville-area organizations — may meaningfully accelerate familiarity with the decision-makers.

Annual giving has ranged from $1.14M (FY2019) to $2.49M (FY2020, the peak year) over six tracked fiscal years, settling at $1.37M in FY2024 (fiscal year ending October 2024). The FY2020 surge to $2.49M coincided with a period of likely COVID-response generosity. Revenue is entirely investment-based — dividends ($629,145) and interest ($223,760) in FY2024 — with zero external contributions. Because distributions consistently exceed earnings, net assets have declined from $26.4M (FY2018) to $21.7M (FY2024), a $4.7M drawdown over six years. Absent major new contributions or a strong market run, annual giving will likely remain in the $1.2M–$1.5M range.

Grant size distribution is sharply bimodal. A small core tier receives transformatively large annual awards: FY2024 top grants were Center for Creative Education ($300,000), Louisville Orchestra ($275,000), and River Ridge Learning Center ($180,000) — together representing roughly 55% of that year's total. Yet the foundation's reported median grant is only $5,000, reflecting a long tail of smaller annual gifts to schools, cultural venues, and community organizations ($1,000–$15,000 range). The database average of $61,030 is distorted upward by the core-tier grants.

Geographically, 100 tracked grants break down as follows: New York 33 grants (33%), Florida 22 (22%), Kentucky 16 (16%), Colorado 10 (10%), Indiana 4 (4%), Virginia 3 (3%), DC and NC 2 each, Tennessee 2. Florida and Kentucky institutions dominate dollar volume — the Speed Art Museum ($722K cumulative), Louisville Orchestra ($708K), Palm Beach United Way ($375K), Kravis Center ($362,500), and Norton Museum of Art ($267,500) account for approximately $2.43M of the $6.1M total tracked.

By sector, arts and culture (museums, orchestras, galleries, performing arts centers) captures roughly 60–65% of giving by dollar value. Education (K-12 schools, universities, learning centers) accounts for 25–30%. Human services and health — American Heart Association, Foundcare Health Center, National Alliance for Eating Disorders — represent under 10%. All 100 tracked grants carry the purpose code 'GENERAL CONTRIBUTION,' confirming that unrestricted operating support is the only grant type offered.

The five foundations most comparable to Jasteka by asset size are all private grantmaking entities in the $21.7M–$21.8M asset range. Jasteka's distinguishing features emerge clearly in side-by-side comparison.

Estimates for peers are based on the standard 5–6% private foundation minimum payout applied to stated assets; actual figures are not publicly confirmed for these entities.

Jasteka stands apart in three ways. First, it operates a direct cultural programming site — the Jasteka Cultural Center — giving it a mission-driven identity most pure grantmaking peers lack. Second, its effective payout rate of 6.3–8.5% in FY2020–FY2022 exceeded the required 5% minimum, indicating a generous disposition that has nonetheless pressured assets over time. Third, its documented focus on arts and education is more thematically specific than the generic 'Philanthropy & Grantmaking' classification shared by all peers. Of the five comparable foundations, Harris Philanthropies (harrisphilanthropies.org, New York) is the one with a public web presence and may offer complementary funding for New York-based arts and education applicants approaching Jasteka.

No public news releases, program announcements, or leadership changes were found in web searches covering 2025–2026. Jasteka Foundation maintains a deliberately low profile; its website (jasteka.org) presents the cultural center's exhibition and programming calendar rather than grant communications, and no media coverage of new awards or strategic shifts was indexed.

The most substantive recent data is the FY2024 IRS 990 (fiscal year ending October 2024). The foundation distributed $1,367,000 in charitable disbursements across approximately 39–40 awards. Top FY2024 grants: Center for Creative Education ($300,000), Louisville Orchestra ($275,000), River Ridge Learning Center ($180,000). These three organizations together accounted for an estimated $755,000, or 55% of FY2024 total giving.

This filing marked the first year the foundation's assets dropped below $22M since the family's $16.6M contribution in FY2014 that dramatically scaled the foundation from its original $5–7M asset base. The steady erosion — from $26.4M in FY2018 to $21.7M in FY2024 — reflects annual distributions consistently outpacing investment income.

The Jasteka Cultural Center continues to operate Fine Art Fridays (10am–3pm) at 101 Logistics Avenue, Jeffersonville, and maintains a collection of 70+ contemporary artists including McArthur Binion, Carol Bove, Noah Davis, Olafur Eliasson, KAWS, Gordon Parks, Hank Willis Thomas, and James Turrell. James S. Karp and Irene J. Karp remain the sole officers in all public filings; no succession or leadership transition has been announced.

Because Jasteka Foundation publishes no application portal, deadline calendar, or proposal guidelines, every element of strategy must be inferred from the foundation's documented giving behavior.

Confirm geographic and sector fit before reaching out. The three primary corridors are Louisville/Jefferson County KY, Palm Beach FL, and Manhattan NY. Arts institutions, orchestras, performing arts venues, museums, K-12 schools, universities, and learning centers within these geographies represent virtually all documented giving by dollar value. Colorado-based organizations (10 tracked grants) represent a secondary corridor worth pursuing if your geography aligns. Organizations outside these four areas face very long odds regardless of mission fit.

Lead with arts and education as an intersection, not in isolation. The foundation's mission language — 'diverse cultural experiences with education a centerpiece' — describes every major grantee. River Ridge Learning Center (arts-integrated education), Center for Creative Education, Speed Art Museum (education programs), and Louisville Orchestra (community education initiatives) all embody this nexus. Frame your organization's work in terms of creative access, cultural learning, and community insight.

Request unrestricted general operating support only. Every single documented grant carries the code 'GENERAL CONTRIBUTION.' Never submit a project-specific or restricted-use request to this foundation — it is entirely inconsistent with its practice.

Write a brief, human letter — not a formal proposal. One to two pages is appropriate. Address to James S. Karp, Chairman, with attention to Cynthia M. Padgett. Send to info@jasteka.org or 266 America Place, Jeffersonville, IN 47130-4286. Avoid sector jargon and dense outcome metrics; the Karps are arts patrons who respond to organizational character and mission alignment.

Calibrate the initial ask to relationship stage. New-entrant grants in the database start at $1,000–$15,000. The reported median grant is $5,000. Request $5,000–$20,000 for a first approach; large asks ($100K+) are reserved for multi-year core relationships. Establish the relationship first.

Engage directly with the cultural center. Attending Fine Art Fridays at 101 Logistics Avenue, Jeffersonville — or citing specific works from the Jasteka collection in your letter — demonstrates genuine alignment and creates informal name recognition with staff and leadership. This is a differentiator most applicants will not pursue.

Follow up once, gently. No review cycle is published. After submitting, wait six to eight weeks, then place a single polite follow-up call to 812.283.7208.