To fund the education and development of future leaders in risk management, insurance, actuarial science and related fields through scholarships, grants, internships and curriculum development.
Spencer Educational Foundation Inc. centers its giving on building the pipeline into risk management, insurance, actuarial science, and related fields. The clearest sign of that focus is its mix of scholarships, course development support, internships, and campus-based programming, all aimed at students and early-career professionals. In the recent grants list, Temple University received $75,000 in 2024 for scholarship support, while St Joseph's University received $75,000 in 2024 for a general grant. Other large awards show the same pattern of education-first funding, including course development support for Bowie State University, Brenau University, and Faulkner University. The foundation also backs programs that connect students with practitioners. Its active grant programs include undergraduate, master’s, Ph.D., and pre-instructor of practice scholarships, internship support, and Risk Manager on Campus grants for university visits by practicing risk managers. That combination points to a funder that supports both formal academic pathways and applied professional exposure. With annual grants of $2,330,649 and assets of $10,061,035, it operates at a meaningful scale for a specialized education funder. Recent awards are mostly in the $7,500 to $11,000 range, with larger grants used for university partnerships and course-building efforts.
Course development is a major theme. Spencer Educational Foundation Inc. gave $50,000 in 2025 to Bowie State University for course development, and $33,646 in 2025 to The University of Georgia for course development. It also supported curriculum-building at Brooklyn College with a $30,000 grant in 2025 and at State University of New York at Brockport with $22,500 in 2025. Internship and workforce preparation is another clear area. Appalachian State University Foundation Inc. received $25,000 in 2024 for an internship grant, while the University of North Texas received $20,000 in 2024 for internship support. The foundation’s program menu also includes internship grants for employers and intern success grants for student expenses tied to internships. It also funds student competitions and campus engagement. California State University-fullerton received a $40,000 award in 2025 that combined general grant, course development, and RMOC grant purposes, and Virginia Commonwealth University received a $34,725 award in 2025 with general grant and RMOC grant purposes.
$955K
$10.1M
$3.6M
$3.1M
Most grants fall between $8K and $11K, with a median of $8K.
25th Percentile
$8K
Median
$8K
75th Percentile
$11K
About 11% of grants go to recipients in TX.
MEGAN MILLER
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Grant size clusters tightly around smaller awards. The typical grant size is $7,500 at the 25th percentile, $7,500 at the median, and $11,000 at the 75th percentile. Program descriptions also show fixed-size bands such as $5,000 to $10,000 for scholarships and up to $5,000 for Risk Manager on Campus grants. Larger awards appear for institutional partnerships and course-development work. The recent list shows repeat recipients across multiple years, including Temple University, St Joseph's University, Appalachian State University Foundation Inc, The National Alliance for Insurance Education and Research, and Virginia Commonwealth University. That suggests ongoing relationships rather than one-time awards in some cases. Spencer Educational Foundation Inc. does accept unsolicited applications for several active programs, including scholarships, internship grants, RMOC grants, and course development grants. It is not a funder of individuals directly; its support runs through programs and institutions.
Grantmaking is national, and every recent grant listed goes to a U.S. recipient. The heaviest concentration by count is in Minnesota, while 10% of grants go to recipients in New York, the foundation’s headquarters state. Among the cities appearing most often in the recent list are Philadelphia, Richmond, and Boca Raton? No — the listed recipient cities include Philadelphia, Richmond, Bowie, Houston, Brooklyn, and Fullerton, showing a spread across multiple regions. Pennsylvania appears repeatedly through Philadelphia-area grants, while New York recipients include Brooklyn and New York City.
It funds universities, colleges, and education-related organizations that prepare students for risk management, insurance, actuarial science, and related fields. Recent grants went to Temple University, St Joseph's University, Bowie State University, and The University of Georgia, mostly for scholarships, course development, or general program support.
Yes. Several active programs accept unsolicited applications, including Undergraduate Scholarship, Ph.D. Scholarship, Intern Success Grants, Risk Manager on Campus Grants, Course Development Grants, Internship Grants, Master’s Scholarship, and Scholarships for undergraduate, master’s, Ph.D., and pre-instructor of practice students.
The typical grant size is $7,500 at both the 25th percentile and the median, with the 75th percentile at $11,000. Program-specific ranges also show smaller structured awards, such as scholarships at $5,000 to $10,000 and Risk Manager on Campus grants up to $5,000.
Minnesota receives the highest number of grants by count. New York, the headquarters state, receives 10% of grants. Recent grants also land in Pennsylvania, Virginia, Georgia, Texas, and California.
The most visible themes are risk management and insurance education, curriculum and course development, scholarships, internships, and campus-based professional engagement. Recent awards include course development grants, scholarship support, internship grants, and RMOC-related funding tied to university programs.
2025
Source: IRS Form 990-PF, fiscal year 2025.
Current and upcoming funding from Spencer Educational Foundation that your nonprofit may be able to apply for.
Who can apply: Universities and colleges in the United States and Canada; priority appears to be for Minority Serving Institutions developing introductory or additional RMI courses.
Deadline: Applications are accepted every four months. For 2026, deadlines are February 13, June 15, and October 1.
Who can apply: Risk managers who wish to hire interns within the risk management function of their companies.
Deadline: 2026 application opens August 15, 2026 and closes October 15, 2026.
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Most recent grants reported to the IRS.
| Recipient | Location | Amount | Year | Purpose |
|---|---|---|---|---|
| BOWIE STATE UNIVERSITY | BOWIE, MD | $50,000 | 2025 | COURSE DEVELOPMENT |
| FAULKNER UNIVERSITY | MONTGOMERY, AL | $50,000 | 2025 | COURSE DEVELOPMENT |
| ST JOSEPH'S UNIVERSITY | PHILADELPHIA, PA | $50,000 | 2025 | GENERAL GRANT |
| CALIFORNIA STATE UNIVERSITY-FULLERTON | FULLERTON, CA | $40,000 | 2025 | GENERAL GRANTCOURSE DEVELOPMENTRMOC GRANT |
| VIRGINIA COMMONWEALTH UNIVERSITY | RICHMOND, VA | $34,725 | 2025 | GENERAL GRANTRMOC GRANT |
| THE UNIVERSITY OF GEORGIA | ATHENS, GA | $33,646 | 2025 | COURSE DEVELOPMENT |
| UNIVERSITY OF HOUSTON - DOWNTOWN | HOUSTON, TX | $32,400 | 2025 | COURSE DEV GRANTGENERAL GRANTRMOC GRANT |
| BROOKLYN COLLEGE | BROOKLYN, NY | $30,000 | 2025 | COURSE DEVELOPMENT |
| SOUTHEASTERN LOUISIANA UNIVERSITY | HAMMOND, LA | $29,052 | 2025 | COURSE DEVLOPMENT |
| THE NATIONAL ALLIANCE FOR INSURANCE EDUCATION AND RESEARCH | AUSTIN, TX | $25,000 | 2025 | GENERAL GRANT |
| STATE UNIVERSITY OF NEW YORK AT BROCKPORT | BROCKPORT, NY | $22,500 | 2025 | COURSE DEVLOPMENT |
| SAVANNAH STATE UNIVERSITY | DALLAS, TX | $20,000 | 2025 | COURSE DEVELOPMENT |
| UNIVERSITY OF COLORADO-DENVER | DENVER, CO | $20,000 | 2025 | GENERAL GRANT |
| AMERICAN RISK & INSURANCE ASSOCIATION (ARIA) RISK & INSURANCE TEACHING SO | BELLEAIR BLF, FL | $20,000 | 2025 | GENERAL GRANT |
| INSURING MI FUTURE | LANSING, MI | $19,500 | 2025 | GENERAL GRANT |
| NATIONAL AFRICAN AMERICAN INSURANCE ASSOCIATION (NAAIA) | NEW YORK, NY | $17,000 | 2025 | GENERAL GRANT |
| ILLINOIS STATE UNIVERSITY | NORMAL, IL | $17,000 | 2025 | GENERAL GRANTRMOC GRANT |
| UNIVERSITY OF NEVADA RENO | RENO, NV | $16,050 | 2025 | GENERAL GRANT |
| THE ACTUARIAL FOUNDATION | SCHAUMBURG, IL | $15,000 | 2025 | GENERAL GRANT |
| UNIVERSITY OF ST THOMAS | ST PAUL, MN | $14,715 | 2025 | GENERAL GRANT |
| LE MOYNE COLLEGE | SYRACUSE, NY | $12,331 | 2025 | GENERAL GRANT |
| EAST CAROLINA UNIVERSITY | GREENVILLE, NC | $12,000 | 2025 | GENERAL GRANT |
| UNIVERSITY OF HOUSTON-CT BAUER | HOUSTON, TX | $11,000 | 2025 | COURSE DEVELOPMENT |
| FISK UNIVERSITY | NASHVILLE, TN | $10,535 | 2025 | COURSE DEVELOPMENT |
| INDIANA STATE UNIVERSITY | TERRE HAUTE, IN | $10,320 | 2025 | COURSE DEV GRANTRMOC GRANT |
| URMIA | GLENDALE, CA | $10,000 | 2025 | GENERAL GRANT |
| BOWLING GREEN STATE UNIVERSITY | BOWLING GREEN, OH | $10,000 | 2025 | COURSE DEVELOPMENT |
| UNIVERSITY OF NORTH TEXAS | DENTON, TX | $10,000 | 2025 | COURSE DEV GRANTRMOC GRANT |
| BALL STATE UNIVERSITY | MUNCIE, IN | $10,000 | 2025 | COURSE DEVELOPMENT |
| GEORGIA STATE UNIVERSITY | ATLANTA, GA | $10,000 | 2025 | GENERAL GRANT |
| MORGAN STATE UNIVERSITY | BALTIMORE, MD | $10,000 | 2025 | GENERAL GRANT |
| APPALACHIAN STATE UNIVERSITY FOUNDATION INC | BOONE, NC | $8,500 | 2025 | GENERAL GRANTRMOC GRANT |
| NATIONAL ASSOCIATION OF BLACK COMPLIANCE AND RISK MANAGEMENT PROFESSIONALS | NORTH LAUDERDALE, FL | $8,000 | 2025 | GENERAL GRANT |
| LVMH | NEW YORK, NY | $7,500 | 2025 | INTERNSHIP |
| KITE REALTY GROUP | BRONX, NY | $7,500 | 2025 | INTERNSHIP |
| COLUMBIA SPORTSWEAR COMPANY | PORTLAND, OR | $7,500 | 2025 | INTERNSHIP |
| DALLAS FORT WORTH (DFW) INTERNATIONAL AIRPORT BOARD | DALLAS, TX | $7,500 | 2025 | INTERNSHIP |
| SP PLUS CORPORATION | NEW YORK, NY | $7,500 | 2025 | INTERNSHIP |
| UNIVERSITY OF DENVER | DENVER, CO | $7,500 | 2025 | INTERNSHIP |
| OKLAHOMA CITY COMMUNITY COLLEGE (OCCC) | OKLAHOMA CITY, OK | $7,500 | 2025 | INTERNSHIP |
| OREGON HEALTH AND SCIENCE UNIVERSITY | PORTLAND, OR | $7,500 | 2025 | INTERNSHIP |
| VARSITY BRANDS LLC | FARMERS BRANCH, TX | $7,500 | 2025 | INTERNSHIP |
| BLOCK COMMUNICATIONS INC | DOYLESTOWN, PA | $7,500 | 2025 | INTERNSHIP |
| OVERHEAD DOOR CORPORATION | LEWISVILLE, TX | $7,500 | 2025 | INTERNSHIP |
| MATCH GROUP INC | DALLAS, TX | $7,500 | 2025 | INTERNSHIP |
| FLOW CONTROL GROUP | CHARLOTTE, NC | $7,500 | 2025 | INTERNSHIP |
| HENRY SCHEIN INC | MELVILLE, NY | $7,500 | 2025 | INTERNSHIP |
| HACKENSACK MERIDIAN HEALTH | EDISON, NJ | $7,500 | 2025 | INTERNSHIP |
| YMCA OF SNOHOMISH COUNTY | EVERETT, WA | $7,500 | 2025 | INTERNSHIP |
| DIOCESE OF ST AUGUSTINE | JACKSONVILLE, FL | $7,500 | 2025 | INTERNSHIP GRANT |
GENERAL GRANTCOURSE DEVELOPMENTRMOC GRANT
VIRGINIA COMMONWEALTH UNIVERSITY
$34,725GENERAL GRANTRMOC GRANT
THE UNIVERSITY OF GEORGIA
$33,646COURSE DEVELOPMENT
UNIVERSITY OF HOUSTON - DOWNTOWN
$32,400COURSE DEV GRANTGENERAL GRANTRMOC GRANT
SOUTHEASTERN LOUISIANA UNIVERSITY
$29,052COURSE DEVLOPMENT
THE NATIONAL ALLIANCE FOR INSURANCE EDUCATION AND RESEARCH
$25,000GENERAL GRANT
STATE UNIVERSITY OF NEW YORK AT BROCKPORT
$22,500COURSE DEVLOPMENT
SAVANNAH STATE UNIVERSITY
$20,000COURSE DEVELOPMENT
UNIVERSITY OF COLORADO-DENVER
$20,000GENERAL GRANT
AMERICAN RISK & INSURANCE ASSOCIATION (ARIA) RISK & INSURANCE TEACHING SO
$20,000GENERAL GRANT
INSURING MI FUTURE
$19,500GENERAL GRANT
NATIONAL AFRICAN AMERICAN INSURANCE ASSOCIATION (NAAIA)
$17,000GENERAL GRANT
LE MOYNE COLLEGE
$12,331GENERAL GRANT
EAST CAROLINA UNIVERSITY
$12,000GENERAL GRANT
INDIANA STATE UNIVERSITY
$10,320COURSE DEV GRANTRMOC GRANT
URMIA
$10,000GENERAL GRANT
BOWLING GREEN STATE UNIVERSITY
$10,000COURSE DEVELOPMENT
UNIVERSITY OF NORTH TEXAS
$10,000COURSE DEV GRANTRMOC GRANT
BALL STATE UNIVERSITY
$10,000COURSE DEVELOPMENT
MORGAN STATE UNIVERSITY
$10,000GENERAL GRANT
NATIONAL ASSOCIATION OF BLACK COMPLIANCE AND RISK MANAGEMENT PROFESSIONALS
$8,000GENERAL GRANT
LVMH
$7,500INTERNSHIP
KITE REALTY GROUP
$7,500INTERNSHIP
COLUMBIA SPORTSWEAR COMPANY
$7,500INTERNSHIP
DALLAS FORT WORTH (DFW) INTERNATIONAL AIRPORT BOARD
$7,500INTERNSHIP
SP PLUS CORPORATION
$7,500INTERNSHIP
OKLAHOMA CITY COMMUNITY COLLEGE (OCCC)
$7,500INTERNSHIP
OREGON HEALTH AND SCIENCE UNIVERSITY
$7,500INTERNSHIP
VARSITY BRANDS LLC
$7,500INTERNSHIP
BLOCK COMMUNICATIONS INC
$7,500INTERNSHIP
OVERHEAD DOOR CORPORATION
$7,500INTERNSHIP
MATCH GROUP INC
$7,500INTERNSHIP
FLOW CONTROL GROUP
$7,500INTERNSHIP
HENRY SCHEIN INC
$7,500INTERNSHIP
HACKENSACK MERIDIAN HEALTH
$7,500INTERNSHIP
YMCA OF SNOHOMISH COUNTY
$7,500INTERNSHIP
DIOCESE OF ST AUGUSTINE
$7,500INTERNSHIP GRANT
