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Penske Foundation Inc. is a private corporation based in BLOOMFLD HLS, MI. The foundation received its IRS ruling in 2012. The principal officer is % Mary Lou Pernicano. It holds total assets of $215.2M. Annual income is reported at $123.7M. The foundation operates in the area of philanthropy & grantmaking. According to available records, Penske Foundation Inc. has made 59 grants totaling $8.4M, with a median grant of $10K. Annual giving has grown from $1.4M in 2020 to $5.3M in 2022. Individual grants have ranged from $5K to $1M, with an average award of $143K. The foundation has supported 23 unique organizations. The foundation primarily supports organizations in Michigan, District of Columbia, Minnesota, which account for 42% of all grants. Grantmaking reaches organizations across 12 states. Contributions to this foundation are tax-deductible.
Penske Foundation Inc. primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 59 grants. Its grantmaking reaches organizations primarily in MI, DC, MN.
Penske Foundation Inc. has distributed a total of $8.4M across 59 grants. The median grant size is $10K, with an average of $143K. Individual grants have ranged from $5K to $1M.
Penske Foundation Inc. typically selects its grantees rather than accepting unsolicited proposals.
Penske Foundation Inc. is headquartered in BLOOMFLD HLS, MI. While based in MI, the foundation distributes grants to organizations across 12 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Blair Penske Hall | DIRECTOR | $0 | $0 | $0 |
| Angela Broaddus | TREASURER | $0 | $0 | $0 |
| Jay C Penske | DIRECTOR | $0 | $0 | $0 |
| Lawrence N Bluth | SECRETARY | $0 | $0 | $0 |
| Kathryn H Penske | PRESIDENT | $0 | $0 | $0 |
Total Giving
$2.4M
Total Assets
$116M
Fair Market Value
$128.3M
Net Worth
$116M
Grants Paid
$2.4M
Contributions
$100.9M
Net Investment Income
$523K
Distribution Amount
$1.3M
Total Grants
59
Total Giving
$8.4M
Average Grant
$143K
Median Grant
$10K
Unique Recipients
23
Most Common Grant
$10K
of 2022 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Ryan Blaney Family FoundationGENERAL | Concord, NC | $5K | 2022 |
| Paralyzed Veterans Of AmericaGENERAL | Washington, DC | $1M | 2022 |
| Mayo ClinicGENERAL | Rochester, MN | $500K | 2022 |
| Detroit Institute Of ArtsGENERAL | Detroit, MI | $500K | 2022 |
| Birthstone CorporationGENERAL | Kirkwood, MO | $250K |
| Mark H Penske |
| DIRECTOR |
| $0 |
| $0 |
| $0 |
| Roger S Penske Jr | DIRECTOR | $0 | $0 | $0 |
| Gregory W Penske | DIRECTOR | $0 | $0 | $0 |
| 2018 | 990PF | View |
| 2017 | 990PF | View |
| 2016 | 990PF | View |
| 2022 |
| United Way Of Southern MichiganGENERAL | Detroit, MI | $125K | 2022 |
| Navy Seal FoundationGENERAL | Virginia Beach, VA | $100K | 2022 |
| Horatio Alger Association Of Distinguished Americans IncGENERAL | Alexandria, VA | $100K | 2022 |
| Regents Of The University Of MichiganGENERAL | Ann Arbor, MI | $25K | 2022 |
| Tech Force FoundationGENERAL | Scottsdale, AZ | $10K | 2022 |
| Nantucket Dreamland FoundationGENERALGENERAL | Nantucket, MA | $10K | 2022 |
| Nantucket Conservation FoundationGENERAL | Nantucket, MA | $10K | 2022 |
| Childsafe MichiganGENERAL | Madison Heights, MI | $10K | 2022 |
| El EducationGENERAL | New York, NY | $10K | 2022 |
| Detroit Symphony OrchestraGENERAL | Detroit, MI | $10K | 2022 |
| Joey Logano Foundation IncGENERAL | Huntersville, NC | $5K | 2022 |
| Rileys Children'S FoundationGENERAL | Indianapolis, IN | $200K | 2021 |
| National Philanthropic Trust - Race Against DementiaGENERAL | Jenkintown, PA | $50K | 2021 |
| Detroit Historical SocietyGENERAL | Detroit, MI | $10K | 2021 |
| Checkered Flag FoundationGENERAL | Statesville, NC | $5K | 2021 |
| Alzheimer'S AssociationGENERAL | Southfield, MI | $5K | 2021 |
| Nantucket Cottage HospitalGENERAL | Nantucket, MA | $100K | 2020 |
| The Mark Donahue FoundationGENERAL | Lewis Center, OH | $10K | 2020 |
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