The Michael and Karen Stone Family Foundation makes a small number of large, unrestricted gifts focused primarily on higher education and independent schools, with secondary interests in conservation, arts, and regional healthcare. A majority of funding is concentrated in a handful of repeat beneficiaries (notably Duke University), while other sizable one-off gifts support cultural institutions, a children's hospital, and an international wildlife trust. Grants are often designated as general or at the discretion of leadership, suggesting flexible, mission-aligned support rather than project-restricted funding.
The Michael and Karen Stone Family Foundation Inc stands out for repeated, large support to Duke University across several years and multiple named funds, including the Stone-Ubben professorship, climate literacy, and the Lily Renovation Reserve Fund. That pattern points to a foundation that favors flexible, multi-purpose academic giving rather than narrowly restricted project grants. The same approach appears in its 2025 general support for Duke, alongside earlier contributions that combine scholarship, faculty support, and annual fund priorities in a single institution. Beyond Duke, the foundation has made sizable gifts to Harvard Business School, Stanford University, and the University of Michigan, indicating a strong higher-education orientation. It also supports other institution types, including a private school capital campaign, a museum, and a children’s hospital. Several grants are designated for general or unrestricted use, while others are directed to leadership discretion, annual funds, or reserve funds. The result is a grantmaking profile centered on institutional capacity, endowments, and long-term priorities more than one-off program projects.
Higher education is the clearest theme in the foundation’s recent grants. In 2025, it gave $1,150,000 to Duke University for general and unrestricted support, and in 2024 it gave $953,333 to Duke for the Stone Family scholarship fund, Fuqua School of Business annual fund, Lily Renovation Reserve fund, Stone-Ubben professorship fund, and Climate Literacy fund. Faculty support and academic infrastructure appear in the Stone-Ubben Professorship grants, including $583,333 in 2023. Student support also shows up through the Stone Family scholarship fund tied to Duke in 2024. The foundation’s higher-education giving is not limited to one campus: Harvard Business School received $250,000 for its 35th Reunion Gift and $62,500 for the HBS Fund, while the Regents of the University of Michigan received $150,000 for the Maize & Blue Cupboard Fund.
The foundation’s recent grants are concentrated in the upper end of its size range, with a typical grant size of $2,500 at the 25th percentile, a median of $20,000, and $46,000 at the 75th percentile. In practice, the recent list includes several six-figure gifts alongside many gifts in the $50,000 to $100,000 range. A small number of recipients appear more than once across the recent years shown, especially Duke University and Bishops School, which suggests recurring institutional relationships rather than one-time support. The foundation is a family foundation and funds individuals, with grants often marked as general, unrestricted, annual fund, reserve fund, or at the discretion of leadership.
$2.9M
$63.3M
$8.4M
$3.2M
Most grants fall between $3K and $46K, with a median of $20K.
25th Percentile
$3K
Median
$20K
75th Percentile
$46K
About 0% of grants go to recipients in CA.
Top 2 recipient countries by grant volume for Michael and Karen Stone Family Foundation.
| Rank | Country | Grants | Total | Share |
|---|---|---|---|---|
| 1 | United StatesDomestic | 109 | $7.3M | 98.2% |
| 2 | South Africa |
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Concentrated and high-dollar: few (11) grants totaling over $5M, with a dominant, repeated commitment to one lead grantee (Duke) and several large single grants; gifts tend to be unrestricted or discretionary rather than narrowly program-restricted.
Notable grantees: Duke University, Wilderness Safaris Wildlife Trust, San Diego Museum of Art, Rady Children’s Hospital – San Diego, Bishop's School
Grantmaking is national, with the strongest concentration in Massachusetts by grant count even though the foundation is headquartered in Wilmington, Delaware. Recent grants also cluster in Durham, North Carolina; San Diego and La Jolla, California; Boston, Massachusetts; and Ann Arbor, Michigan. Outside the United States, the recent list includes one recipient in Rivonia, Johannesburg, tied to Wilderness Safaris Wildlife Trust. The recipient-country distribution is overwhelmingly U.S.-based, at 98.2% of grants.
Its recent grants lean heavily toward higher education, especially universities and business schools, with support also reaching a private K–12 school, a museum, a children’s hospital, and wildlife conservation groups. The grant descriptions often emphasize scholarships, annual funds, professorships, reserve funds, and unrestricted support.
Yes. Duke University appears multiple times across 2023, 2024, and 2025, with grants ranging from general support to named funds. Bishops School also appears more than once, including capital campaign and annual fund support. That pattern suggests ongoing relationships with select institutions.
The grant-size distribution shows a p25 of $2,500, a median of $20,000, and a p75 of $46,000. The recent list also includes several grants well above that range, including seven-figure and six-figure awards.
By grant count, Massachusetts is the top state, while the recipient distribution is overwhelmingly U.S.-based at 98.2%. Recent named recipients also appear in North Carolina, California, Michigan, Pennsylvania, Vermont, Georgia, and South Africa.
2025
Source: IRS Form 990-PF, fiscal year 2025.
| 2 |
| $550K |
1.8% |
Recipient country reflects the grantee's headquarters per IRS 990-PF and Schedule F filings, not the program's implementation country.
Most recent grants reported to the IRS.
| Recipient | Location | Amount | Year | Purpose |
|---|---|---|---|---|
| DUKE UNIVERSITY | DURHAM, NC | $1,150,000 | 2025 | General & Unrestricted |
| BISHOPS SCHOOL | LA JOLLA, CA | $250,000 | 2025 | Capital Campaign |
| SAN DIEGO MUSEUM OF ART | SAN DIEGO, CA | $250,000 | 2025 | General & Unrestricted |
| WILDERNESS SAFARIS WILDLIFE TRUST | RIVONIA JOHANNESBURG | $250,000 | 2025 | Drought relief food program |
| STANFORD UNIVERSITY | STANFORD, CA | $100,000 | 2025 | General & Unrestricted |
| RADY CHILDRENS HOSPITAL - SAN DIEGO | SAN DIEGO, CA | $100,000 | 2025 | The President's Fund |
| HARVARD BUSINESS SCHOOL | BOSTON, MA | $62,500 | 2025 | HBS Fund |
| SHELBURNE FARMS | SHELBURNE, VT | $51,500 | 2025 | General & Unrestricted |
| BIG BROTHERS BIG SISTERS OF SAN DIEGO COUNTY INC | SAN DIEGO, CA | $51,500 | 2025 | General & Unrestricted |
| VOICES FOR CHILDREN | SAN DIEGO, CA | $51,500 | 2025 | General & Unrestricted |
| BISHOPS SCHOOL | LA JOLLA, CA | $50,000 | 2025 | Annual Fund |
| CAMP SOUTHERN GROUND INC | FAYETTEVILLE, GA | $50,000 | 2025 | General & Unrestricted |
| DUKE UNIVERSITY | DURHAM, NC | $50,000 | 2025 | Lemur Center Operations and Lemur Madagascar Programs |
| REGENTS OF THE UNIVERSITY OF MICHIGAN | ANN ARBOR, MI | $50,000 | 2025 | General & Unrestricted |
| DUKE UNIVERSITY | DURHAM, NC | $45,000 | 2025 | Fuqua Annual Fund and Fuqua Scholarship Fund |
| CHARITIES AID FOUNDATION AMERICA | ALEXANDRIA, VA | $30,000 | 2025 | Friends Fund: GAVI, The Vaccine Alliance |
| LAKE CHAMPLAIN COMMITTEE INC | BURLINGTON, VT | $25,000 | 2025 | General & Unrestricted |
| REGENTS OF THE UNIVERSITY OF MICHIGAN | ANN ARBOR, MI | $25,000 | 2025 | Emergency Fund |
| REGENTS OF THE UNIVERSITY OF MICHIGAN | ANN ARBOR, MI | $25,000 | 2025 | Maize & Blue Cupboard Fund |
| UNIVERSITY OF VERMONT | BURLINGTON, VT | $25,000 | 2025 | Special Collections Fund |
| UNIVERSITY OF VERMONT | BURLINGTON, VT | $25,000 | 2025 | General & Unrestricted |
| CLIMATE VAULT INC | CHICAGO, IL | $15,000 | 2025 | General & Unrestricted |
| U C SAN DIEGO FOUNDATION | LA JOLLA, CA | $15,000 | 2025 | To support Scripps Institution of Oceanography and to be used at the discretion of the SIO Director |
| GOVERN FOR CALIFORNIA FOUNDATION | SAN RAFAEL, CA | $12,500 | 2025 | General & Unrestricted |
| BISHOPS SCHOOL | LA JOLLA, CA | $12,500 | 2025 | The Bishops School 2024 Gala |
| SHELBURNE MUSEUM INCORPORATED | SHELBURNE, VT | $10,000 | 2025 | General & Unrestricted |
| THE NATURE CONSERVANCY GEORGIA CHAPTER | ATLANTA, GA | $10,000 | 2025 | Coastal Conservation fund |
| HARVARD BUSINESS SCHOOL | BOSTON, MA | $10,000 | 2025 | General & Unrestricted |
| DAKSHANA FOUNDATION | WEST LAKE HILLS, TX | $10,000 | 2025 | General & Unrestricted |
| THE SAN DIEGO FOUNDATION | SAN DIEGO, CA | $10,000 | 2025 | La Jolla Country Club Employee Scholarship Fund |
| HOTCHKISS SCHOOL | LAKEVILLE, CT | $5,000 | 2025 | The Hotchkiss Fund/Parents Fund |
| HOTCHKISS SCHOOL | LAKEVILLE, CT | $5,000 | 2025 | Giving Day 2018 |
| SKIDMORE COLLEGE | SARATOGA SPGS, NY | $5,000 | 2025 | General & Unrestricted |
| THE GILLISPIE SCHOOL | LA JOLLA, CA | $5,000 | 2025 | General & Unrestricted |
| HONORARY DEPUTY SHERIFFS ASSOCIATION OF SAN DIEGO | SAN DIEGO, CA | $2,500 | 2025 | General & Unrestricted |
| BOYS TO MEN MENTORING NETWORK INC | SPRING VALLEY, CA | $2,500 | 2025 | General & Unrestricted |
| NEUROLAB 360 | ENCINITAS, CA | $2,500 | 2025 | General & Unrestricted |
| UNIVERSITY OF NOTRE DAME DU LAC | NOTRE DAME, IN | $1,000 | 2025 | General & Unrestricted |
| DUKE UNIVERSITY | DURHAM, NC | $953,333 | 2024 | Stone Family scholarship fund, FUQUA School of Business annual fund, Lily Renovation Reserve fund, Stone-Ubben professorship fund, and Climate Literacy fund |
| DUKE UNIVERSITY | DURHAM, NC | $583,334 | 2024 | Stone-Ubben Professorship (2024 contribution) |
| DUKE UNIVERSITY | DURHAM, NC | $200,000 | 2024 | Lily Renovation Reserve Fund (2023 contribution) |
| DUKE UNIVERSITY | DURHAM, NC | $200,000 | 2024 | Lily Renovation Reserve Fund (2024 contribution) |
| REGENTS OF THE UNIVERSITY OF MICHIGAN | ANN ARBOR, MI | $150,000 | 2024 | Maize & Blue Cupboard Fund |
| DUKE UNIVERSITY | DURHAM, NC | $125,000 | 2024 | Climate Literacy (2024 contribution) |
| BISHOPS SCHOOL | LA JOLLA, CA | $50,000 | 2024 | Annual Fund |
| SHELBURNE FARMS | SHELBURNE, VT | $45,500 | 2024 | General & Unrestricted |
| BIG BROTHERS BIG SISTERS OF SAN DIEGO COUNTY INC | SAN DIEGO, CA | $45,500 | 2024 | General & Unrestricted |
| VOICES FOR CHILDREN | SAN DIEGO, CA | $45,500 | 2024 | General & Unrestricted |
| LIBRARY OF CONGRESS | WASHINGTON, DC | $25,000 | 2024 | General & Unrestricted |
| BISHOPS SCHOOL | LA JOLLA, CA | $25,000 | 2024 | General & Unrestricted |
BISHOPS SCHOOL
$250,000Capital Campaign
SAN DIEGO MUSEUM OF ART
$250,000General & Unrestricted
WILDERNESS SAFARIS WILDLIFE TRUST
$250,000Drought relief food program
STANFORD UNIVERSITY
$100,000General & Unrestricted
The President's Fund
HARVARD BUSINESS SCHOOL
$62,500HBS Fund
BISHOPS SCHOOL
$50,000Annual Fund
REGENTS OF THE UNIVERSITY OF MICHIGAN
$50,000General & Unrestricted
LAKE CHAMPLAIN COMMITTEE INC
$25,000General & Unrestricted
REGENTS OF THE UNIVERSITY OF MICHIGAN
$25,000Emergency Fund
REGENTS OF THE UNIVERSITY OF MICHIGAN
$25,000Maize & Blue Cupboard Fund
UNIVERSITY OF VERMONT
$25,000Special Collections Fund
UNIVERSITY OF VERMONT
$25,000General & Unrestricted
CLIMATE VAULT INC
$15,000General & Unrestricted
To support Scripps Institution of Oceanography and to be used at the discretion of the SIO Director
GOVERN FOR CALIFORNIA FOUNDATION
$12,500General & Unrestricted
BISHOPS SCHOOL
$12,500The Bishops School 2024 Gala
SHELBURNE MUSEUM INCORPORATED
$10,000General & Unrestricted
THE NATURE CONSERVANCY GEORGIA CHAPTER
$10,000Coastal Conservation fund
HARVARD BUSINESS SCHOOL
$10,000General & Unrestricted
DAKSHANA FOUNDATION
$10,000General & Unrestricted
HOTCHKISS SCHOOL
$5,000The Hotchkiss Fund/Parents Fund
HOTCHKISS SCHOOL
$5,000Giving Day 2018
THE GILLISPIE SCHOOL
$5,000General & Unrestricted
HONORARY DEPUTY SHERIFFS ASSOCIATION OF SAN DIEGO
$2,500General & Unrestricted
UNIVERSITY OF NOTRE DAME DU LAC
$1,000General & Unrestricted
Stone Family scholarship fund, FUQUA School of Business annual fund, Lily Renovation Reserve fund, Stone-Ubben professorship fund, and Climate Literacy fund
REGENTS OF THE UNIVERSITY OF MICHIGAN
$150,000Maize & Blue Cupboard Fund
BISHOPS SCHOOL
$50,000Annual Fund
LIBRARY OF CONGRESS
$25,000General & Unrestricted
BISHOPS SCHOOL
$25,000General & Unrestricted