The Earl & Brenda Shapiro Foundation makes a small number of very large grants, primarily providing general/unrestricted support to elite higher-education institutions and to a large single recipient account. Their giving is concentrated and relationship-driven, with repeat multi-million dollar grants to major universities rather than broad community-level funding. The foundation appears to favor flexible operating support that universities can deploy across programs and operations.
Highly concentrated: very few grants (7) totaling large sums, repeat multi-grant relationships with the same elite universities, and substantial funding routed to a single large account. Emphasis on large, flexible general-fund support rather than many small or geographically distributed grants.
A defining feature of the Earl & Brenda Shapiro Foundation c/o Mason Avenue Investments is its repeated, large-scale support for a small set of institutions, including consecutive $2,000,000 grants to Brown University in 2024 and 2025 and $500,000 gifts to The Trustees of Princeton University in both years. That pattern points to relationship-based philanthropy centered on flexible institutional support rather than broad, issue-by-issue grantmaking. The foundation’s recent giving also includes substantial transfers to a Chicago-based account listed as “See Attached Statement,” with grants of $4,714,583 in 2023 and 2024 and another $2,514,917 in 2024, indicating that a meaningful share of its activity flows through a single large recipient line. Beyond higher education, the foundation funds cultural, civic, and research organizations such as the Art Institute of Chicago - Exhibitions Trust, the University of Chicago - Division Social Science, Steppenwolf Theatre Company, and Inside Climate News. Across these grants, the common thread is operating and program support for established institutions, often at seven-figure or six-figure levels.
Higher education is the clearest theme in the recent record. Brown University received $2,000,000 in 2024 and another $2,000,000 in 2025 for program and operational expenses, while The Trustees of Princeton University received $500,000 in both years for the same purpose. The foundation also supports Chicago-based academic work: the University of Chicago - Division Social Science received $161,000 in 2024 and $130,000 in 2025, and the University of Chicago received $100,000 in 2025. Its arts and culture giving includes $250,000 to the Art Institute of Chicago - Exhibitions Trust and $125,000 each to Steppenwolf Theatre Company in 2024 and 2025. The record also shows support for public-interest and policy-oriented organizations, including $125,000 in 2024 and 2025 to Inside Climate News and $75,000 in 2024 and 2025 to One World Network of Schools.
Typical grants cluster at the upper end of the distribution: p25 is $10,000, median is $25,000, and p75 is $100,000. The recent record shows a concentrated style, with a small number of very large grants and many repeated awards to the same organizations across 2024 and 2025. The foundation is a regular funder, not a DAF and not a funder of individuals, and the available grants point to flexible support rather than restricted project grants. Purpose language is usually broad, most often “to support program and operational expenses” or “general fund.”
$3.6M
$12.7M
$1.8M
$3.7M
Most grants fall between $10K and $100K, with a median of $25K.
25th Percentile
$10K
Median
$25K
75th Percentile
$100K
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Notable grantees: SEE ATTACHED STATEMENT (large recipient/account), Brown University, The Trustees of Princeton University
Giving is national, but it is heavily concentrated in Illinois: 53% of grants go to recipients in the HQ state, and Illinois is also the top state by grant count. Chicago appears repeatedly among recipients, including the Art Institute of Chicago - Exhibitions Trust, the University of Chicago, Steppenwolf Theatre Company, Nourishing Hope, Wfmt, and Lyric Opera. Outside Illinois, recurring recipients include Brown University in Providence, Rhode Island; The Trustees of Princeton University in Princeton, New Jersey; and Inside Climate News and One World Network of Schools in New York City.
The record centers on established institutions, especially universities and other large nonprofits. Brown University received $2,000,000 in both 2024 and 2025, The Trustees of Princeton University received $500,000 in both years, and the foundation also made six-figure gifts to Chicago cultural, academic, and public-interest organizations.
Yes. The recent grants repeatedly use broad purpose language such as “general fund” and “to support program and operational expenses.” Examples include the $4,714,583 transfers to See Attached Statement and the $2,000,000 grants to Brown University.
The distribution is weighted toward large awards: p25 is $10,000, median is $25,000, and p75 is $100,000. The recent list also includes multiple six-figure grants and several multi-million-dollar awards.
Yes. Illinois receives 53% of grants, and Chicago shows up frequently among recipients. The foundation’s giving is national overall, but the recent list is especially dense with Illinois organizations and institutions.
Yes. Several recipients appear in consecutive years, including Brown University in 2024 and 2025, The Trustees of Princeton University in 2024 and 2025, Inside Climate News in 2024 and 2025, and Steppenwolf Theatre Company in 2024 and 2025.
2025
Source: IRS Form 990-PF, fiscal year 2025.
Most recent grants reported to the IRS.
| Recipient | Location | Amount | Year | Purpose |
|---|---|---|---|---|
| Brown University | Providence, RI | $2,000,000 | 2025 | To support program and operational expenses |
| The Trustees of Princeton University | Princeton, NJ | $500,000 | 2025 | To support program and operational expenses |
| University of Chicago - Division Social Science | Chicago, IL | $130,000 | 2025 | To support program and operational expenses |
| Steppenwolf Theatre Company | Chicago, IL | $125,000 | 2025 | To support program and operational expenses |
| Inside Climate News | Brooklyn, NY | $125,000 | 2025 | To support program and operational expenses |
| University of Chicago | Chicago, IL | $100,000 | 2025 | To support program and operational expenses |
| The Aspen Institute | Washington, DC | $100,000 | 2025 | To support program and operational expenses |
| Nourishing Hope | Chicago, IL | $100,000 | 2025 | To support program and operational expenses |
| Anti-Defamation League | New York, NY | $100,000 | 2025 | To support program and operational expenses |
| One World Network of Schools | New York, NY | $75,000 | 2025 | To support program and operational expenses |
| Wild Salmon Center | Portland, OR | $70,000 | 2025 | To support program and operational expenses |
| Yale School of Architecture | New Haven, CT | $50,000 | 2025 | To support program and operational expenses |
| Northwestern Memorial Foundation | Chicago, IL | $34,000 | 2025 | To support program and operational expenses |
| Greater Chicago Food Depository | Chicago, IL | $15,000 | 2025 | To support program and operational expenses |
| VIA Art Fund | New York, NY | $15,000 | 2025 | To support program and operational expenses |
| Chicago High School for the Arts | Chicago, IL | $10,000 | 2025 | To support program and operational expenses |
| Math4Science | Lincolnville, ME | $5,000 | 2025 | To support program and operational expenses |
| SEE ATTACHED STATEMENT | CHICAGO, IL | $4,714,583 | 2024 | GENERAL FUND |
| SEE ATTACHED STATEMENT | CHICAGO, IL | $2,514,917 | 2024 | GENERAL FUND |
| Brown University | Providence, RI | $2,000,000 | 2024 | To support program and operational expenses |
| The Trustees of Princeton University | Princeton, NJ | $500,000 | 2024 | To support program and operational expenses |
| Art Institute of Chicago - Exhibitions Trust | Chicago, IL | $250,000 | 2024 | To support program and operational expenses |
| University of Chicago - Division Social Science | Chicago, IL | $161,000 | 2024 | To support program and operational expenses |
| Steppenwolf Theatre Company | Chicago, IL | $125,000 | 2024 | To support program and operational expenses |
| Inside Climate News | Brooklyn, NY | $125,000 | 2024 | To support program and operational expenses |
| Anti-Defamation League | New York, NY | $100,000 | 2024 | To support program and operational expenses |
| The Aspen Institute | Washington, DC | $100,000 | 2024 | To support program and operational expenses |
| Nourishing Hope | Chicago, IL | $100,000 | 2024 | To support program and operational expenses |
| ELPC (Environmental Law & Policy Center) | Chicago, IL | $75,000 | 2024 | To support program and operational expenses |
| One World Network of Schools | New York, NY | $75,000 | 2024 | To support program and operational expenses |
| Lyric Opera | Chicago, IL | $50,000 | 2024 | To support program and operational expenses |
| Nature Conservancy | Arlington, VA | $50,000 | 2024 | To support program and operational expenses |
| WFMT | Chicago, IL | $50,000 | 2024 | To support program and operational expenses |
| Nature Conservancy - IL Chapter | Arlington, VA | $50,000 | 2024 | To support program and operational expenses |
| Yale School of Architecture | New Haven, CT | $50,000 | 2024 | To support program and operational expenses |
| SkyART | Chicago, IL | $30,000 | 2024 | To support program and operational expenses |
| Wild Salmon Center | Portland, OR | $30,000 | 2024 | To support program and operational expenses |
| Harris Theater | Chicago, IL | $25,000 | 2024 | To support program and operational expenses |
| University of Chicago | Chicago, IL | $25,000 | 2024 | To support program and operational expenses |
| Art Institute Chicago - Photography Dept | Chicago, IL | $20,000 | 2024 | To support program and operational expenses |
| Chicago High School for the Arts | Chicago, IL | $20,000 | 2024 | To support program and operational expenses |
| University of Chicago - Court Theatre | Chicago, ID | $20,000 | 2024 | To support program and operational expenses |
| Reading Between The Lines | Chicago, IL | $15,000 | 2024 | To support program and operational expenses |
| Yale University | New Haven, CT | $15,000 | 2024 | To support program and operational expenses |
| Greater Chicago Food Depository | Chicago, IL | $15,000 | 2024 | To support program and operational expenses |
| Leukemia & Lymphoma Society | Rye Brook, NY | $10,000 | 2024 | To support program and operational expenses |
| Chicago Symphony Orchestra | Chicago, IL | $10,000 | 2024 | To support program and operational expenses |
| Foundation Fighting Blindness | Columbia, MD | $10,000 | 2024 | To support program and operational expenses |
| Fulcrum Point | Chicago, IL | $10,000 | 2024 | To support program and operational expenses |
| Art Institute of Chicago | Chicago, IL | $10,000 | 2024 | To support program and operational expenses |
Brown University
$2,000,000To support program and operational expenses
The Trustees of Princeton University
$500,000To support program and operational expenses
To support program and operational expenses
Steppenwolf Theatre Company
$125,000To support program and operational expenses
To support program and operational expenses
One World Network of Schools
$75,000To support program and operational expenses
Yale School of Architecture
$50,000To support program and operational expenses
Northwestern Memorial Foundation
$34,000To support program and operational expenses
Math4Science
$5,000To support program and operational expenses
SEE ATTACHED STATEMENT
$4,714,583GENERAL FUND
SEE ATTACHED STATEMENT
$2,514,917GENERAL FUND
Brown University
$2,000,000To support program and operational expenses
The Trustees of Princeton University
$500,000To support program and operational expenses
Art Institute of Chicago - Exhibitions Trust
$250,000To support program and operational expenses
University of Chicago - Division Social Science
$161,000To support program and operational expenses
ELPC (Environmental Law & Policy Center)
$75,000To support program and operational expenses
One World Network of Schools
$75,000To support program and operational expenses
WFMT
$50,000To support program and operational expenses
Nature Conservancy - IL Chapter
$50,000To support program and operational expenses
Yale School of Architecture
$50,000To support program and operational expenses
SkyART
$30,000To support program and operational expenses
Harris Theater
$25,000To support program and operational expenses
To support program and operational expenses
University of Chicago - Court Theatre
$20,000To support program and operational expenses
Reading Between The Lines
$15,000To support program and operational expenses
Yale University
$15,000To support program and operational expenses
Fulcrum Point
$10,000To support program and operational expenses