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State Farm Companies Foundation is a private corporation based in BLOOMINGTON, IL. The foundation received its IRS ruling in 1968. The principal officer is Corporate Tax Department. It holds total assets of $15.9M. Annual income is reported at $35.2M. The foundation is governed by 14 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. Tax records are available from 2020 to 2023. The foundation primarily funds organizations in Illinois and North Carolina. According to available records, State Farm Companies Foundation has made 41 grants totaling $68.5M, with a median grant of $400K. Annual giving has decreased from $15.7M in 2020 to $12M in 2023. Grantmaking activity was highest in 2022 with $40.7M distributed across 28 grants. Individual grants have ranged from $50K to $14.2M, with an average award of $1.7M. The foundation has supported 24 unique organizations. The foundation primarily supports organizations in Illinois, North Carolina, Texas, which account for 85% of all grants. Grantmaking reaches organizations across 5 states. Contributions to this foundation are tax-deductible.
No specific application information is available for this foundation. Check the 990-PF filings below for application guidelines, or visit the foundation's website if listed above.
Smallest Grant
$50K
Median Grant
$500K
Average Grant
$1.7M
Largest Grant
$10M
Based on 9 grants from the most recent 990-PF filing.
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.
State Farm Companies Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 41 grants. Its grantmaking reaches organizations primarily in IL, NC, TX.
State Farm Companies Foundation has distributed a total of $68.5M across 41 grants. The median grant size is $400K, with an average of $1.7M. Individual grants have ranged from $50K to $14.2M.
State Farm Companies Foundation is a private foundation. To inquire about grants, you can look up the foundation using their EIN (366110423) on GuideStar or contact them directly. Many private foundations have specific application processes that may not be publicly listed.
State Farm Companies Foundation is headquartered in BLOOMINGTON, IL. While based in IL, the foundation distributes grants to organizations across 5 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Joseph P Young | Vice President - Fixed Income | $0 | $0 | N/A |
| Apsara Sorensen | Assistant Secretary | $0 | $0 | N/A |
| Dr W H Knight Jr | Director | $0 | $0 | N/A |
| Alana Reimer | Assistant Treasurer | $0 | $0 | N/A |
| Michael Tipsord | Chairman of the Board and President | $0 | $0 | N/A |
| Michele Russo | Vice President | $0 | $0 | N/A |
| Sonya Robinson | Vice President | $0 | $0 | N/A |
| Vicki O'Meara | Director | $0 | $0 | N/A |
| Mary Schmidt | Vice President and Secretary | $0 | $0 | N/A |
| Mark Schwamberger | Assistant Treasurer | $0 | $0 | N/A |
| Jon C Farney | Vice President and Treasurer | $0 | $0 | N/A |
| Kristi Higgins | Assistant Secretary | $0 | $0 | N/A |
| Victor Terry | Vice President | $0 | $0 | N/A |
| Rasheed Merritt | Assistant Secretary | $0 | $0 | N/A |
Total Giving
$12.6M
Total Assets
$7M
Fair Market Value
$7M
Net Worth
$7M
Grants Paid
$12M
Contributions
$10M
Net Investment Income
$10.4M
Distribution Amount
$397K
Total Grants
41
Total Giving
$68.5M
Average Grant
$1.7M
Median Grant
$400K
Unique Recipients
24
Most Common Grant
$500K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Lincoln CollegeEducation Award | Lincoln, IL | $50K | 2020 |
| Matching Gift ProgramEducation and Charitable Giving | Bloomington, IL | $8.6M | 2023 |
| National Merit Scholarship CorporationEducation Award | Evanston, IL | $2M | 2023 |
| Good Neighbor Grant ProgramEducation and Chartable Giving Grants | Bloomington, IL | $965K | 2023 |
| E4e Relief LlcEmployee Assistance Hardship Fund | Charlotte, NC | $500K | 2023 |
| Matching Gift Program Part Via Donor-Advised Fund (Charities Aid FoundationEducation and Charitable Giving | Bloomington, IL | $14.2M | 2022 |
| National Merit Scholarship Corporation Via Donor-Advised Fund (Charities AiEducation Award | Evanston, IL | $1.9M | 2022 |
| Good Neighbor Grant Program Part Via Donor-Advised Fund (Charities Aid FounEducation and Charitable Giving Grants | Bloomington, IL | $1.5M | 2022 |
| University Of Illinois Foundation Via Donor-Advised Fund (Charities Aid FouEducation Award | Urbana, IL | $500K | 2022 |
| Illinois State University Foundation Via Donor-Advised Fund (Charities AidEducation Award | Normal, IL | $500K | 2022 |
| Georgia State University Foundation Inc Via Donor-Advised Fund (Charities AEducation Award | Atlanta, GA | $400K | 2022 |
| Illinois Wesleyan University Via Donor-Advised Fund (Charities Aid FoundatiEducation Award | Bloomington, IL | $300K | 2022 |
| University Of Texas At Dallas Via Donor-Advised Fund (Charities Aid FoundatEducation Award | Richardson, TX | $232K | 2022 |
| Arizona State University Foundation For A New American University Via DonorEducation Award | Tempe, AZ | $230K | 2022 |
| Heartland Community College Foundation Via Donor-Advised Fund (Charities AiEducation Award | Normal, IL | $192K | 2022 |
| Maricopa County Community College District Foundation Via Donor-Advised FunEducation Award | Tempe, AZ | $170K | 2022 |
| Collin County Community College District Foundation Via Donor-Advised FundEducation Award | Mckinney, TX | $105K | 2022 |
| Dallas County Community College District Foundation Inc Via Donor-Advised FEducation Award | Dallas, TX | $63K | 2022 |
| Lincoln College Via Donor-Advised Fund (Charities Aid Foundation Of AmericaEducation Award | Lincoln, IL | $50K | 2022 |
| Foundation For The CarolinasEmployee Assistance Harship Fund | Charlotte, NC | $686K | 2020 |
| Illinois State UniversityEducation Award | Normal, IL | $500K | 2020 |
| University Of IllinoisEducation Award | Urbana, IL | $500K | 2020 |
| Illinois Wesleyan UniversityEducation Award | Bloomington, IL | $300K | 2020 |
| Heartland Community CollegeEducation Award | Normal, IL | $192K | 2020 |