The HTC Cottee Charles & Barbara Close Foundation concentrates its giving almost exclusively on Drexel University, funding designated endowments and entrepreneurship/leadership awards. Grants are programmatic and targeted (Close Foundation designated funds and the David O’Brien Leadership/entrepreneurship award), indicating a focus on supporting higher-education initiatives at a single institution rather than broad geographic or sector diversification.
Highly concentrated: few, very large grants directed to a single institution (repeat multi-year support and designated funds at Drexel University) rather than many small or diversified awards.
A defining pattern in the Htc Cottee Charles & Barbara Close Foundation’s grantmaking is its repeated support for Drexel University, especially designated foundation funds and the David O'Brien Leadership Award. Across the recent grants listed, Drexel receives the largest individual awards, including $500,000 in 2023 and 2024 and $369,955 in 2025 for the Close Foundation designated fund. The foundation also backed Drexel’s entrepreneurship and leadership work with $280,000 in 2023 and $160,045 in 2025 for the David O'Brien Leadership Award, showing a clear preference for university-based, program-specific support. The pattern is concentrated rather than broad. Its recent giving also includes support for a caddie scholarship at Cedarbrook Country Club and unrestricted grants to Friends of Saint Malachy in Philadelphia. That mix points to a foundation that funds both designated endowments and more flexible community support, while keeping most of its activity centered on one institution and related initiatives. The grant record shows a consistent emphasis on higher education, scholarship access, and entrepreneurship-related programming.
At the center of the foundation’s recent activity is higher education support at Drexel University. It gave $298,000 in 2023 and $250,000 in 2024 for the Close Foundation Fund, alongside larger designated grants for the Close Foundation designated fund. Entrepreneurship and leadership programming is another clear thread. Drexel University - David O'Brien Leadership Award received $280,000 in 2023, $30,000 in 2024, and $160,045 in 2025 for entrepreneurship-related support. The foundation also funds scholarship access. In 2024, Cedarbrook Country Club received $25,000 for the Platt Caddie Scholarship, tying part of its grantmaking to educational opportunity for scholarship recipients. It also made unrestricted grants to Friends of Saint Malachy in Philadelphia, including $20,000 in 2024 and $10,000 in both 2023 and 2025.
Typical grant sizes are fairly large: the 25th percentile is $23,750, the median is $205,022, and the 75th percentile is $315,989. The recent record shows repeated support for the same recipients over multiple years, especially Drexel University and Drexel University - David O'Brien Leadership Award, which suggests an ongoing, program-specific funding relationship rather than one-off awards. The foundation’s giving is structured around designated funds, named awards, and some unrestricted support. It also funds individuals, consistent with the scholarship-oriented grant noted in the recent grants list.
$1M
$4.3M
$866K
$1.2M
Most grants fall between $24K and $316K, with a median of $205K.
25th Percentile
$24K
Median
$205K
75th Percentile
$316K
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Notable grantees: Drexel University (Close Foundation designated fund), Drexel University — David O’Brien Leadership Award
The foundation gives locally and all recent grants in the record went to U.S. recipients. Philadelphia is the main grant destination, with multiple awards to Drexel University and Friends of Saint Malachy. Blue Bell also appears through Cedarbrook Country Club. The recipient distribution is entirely within Pennsylvania, with 100% of grants going to recipients in PA and PA as the top state by grant count.
Its recent grants point to three main areas: designated endowment support at Drexel University, entrepreneurship and leadership programming through the David O'Brien Leadership Award, and scholarship access through the Platt Caddie Scholarship at Cedarbrook Country Club.
Yes. Drexel University appears repeatedly across 2023, 2024, and 2025, and Drexel University - David O'Brien Leadership Award also received multiple grants across those years. Friends of Saint Malachy was funded in 2023, 2024, and 2025 as well.
The grant-size distribution is relatively high. The 25th percentile is $23,750, the median is $205,022, and the 75th percentile is $315,989, showing that many awards are substantial rather than small.
The record shows a local Pennsylvania pattern. All recent grants in the dataset went to U.S. recipients, and 100% of grants were made to recipients in PA, with Philadelphia the most common city in the recent grants list.
Yes. Friends of Saint Malachy in Philadelphia received unrestricted grants, including $20,000 in 2024 and $10,000 in both 2023 and 2025.
2026
Source: IRS Form 990-PF, fiscal year 2026.
Most recent grants reported to the IRS.
| Recipient | Location | Amount | Year | Purpose |
|---|---|---|---|---|
| DREXEL UNIVERSITY | PHILADELPHIA, PA | $1,000,000 | 2026 | CLOSE FOUNDATION DESIGNATED |
| FRIENDS OF SAINT MALACHY | PHILADELPHIA, PA | $10,000 | 2026 | UNRESTRICTED |
| DREXEL UNIVERSITY | PHILADELPHIA, PA | $369,955 | 2025 | CLOSE FOUNDATION DESIGNATED |
| DREXEL UNIVERSITY - DAVID O'BRIEN LEADERSHIP AWARD | PHILADELPHIA, PA | $160,045 | 2025 | ENTREPRENEURSHIP IN |
| FRIENDS OF SAINT MALACHY | PHILADELPHIA, PA | $10,000 | 2025 | UNRESTRICTED |
| DREXEL UNIVERSITY | PHILADELPHIA, PA | $500,000 | 2024 | CLOSE FOUNDATION DESIGNATED |
| DREXEL UNIVERSITY | PHILADELPHIA, PA | $250,000 | 2024 | CLOSE FOUNDATION FUND |
| DREXEL UNIVERSITY - DAVID O'BRIEN LEADERSHIP AWARD | PHILADELPHIA, PA | $30,000 | 2024 | ENTREPRENEURSHIP IN |
| CEDARBROOK COUNTRY CLUB | BLUE BELL, PA | $25,000 | 2024 | PLATT CADDIE SCHOLARSHIP |
| FRIENDS OF SAINT MALACHY | PHILADELPHIA, PA | $20,000 | 2024 | UNRESTRICTED |
| DREXEL UNIVERSITY | PHILADELPHIA, PA | $500,000 | 2023 | CLOSE FOUNDATION DESIGNATED |
| DREXEL UNIVERSITY | PHILADELPHIA, PA | $298,000 | 2023 | CLOSE FOUNDATION FUND |
| DREXEL UNIVERSITY - DAVID O'BRIEN LEADERSHIP AWARD | PHILADELPHIA, PA | $280,000 | 2023 | ENTREPRENEURSHIP IN |
| FRIENDS OF SAINT MALACHY | PHILADELPHIA, PA | $10,000 | 2023 | UNRESTRICTED |
FRIENDS OF SAINT MALACHY
$10,000UNRESTRICTED
FRIENDS OF SAINT MALACHY
$10,000UNRESTRICTED
CLOSE FOUNDATION DESIGNATED
CEDARBROOK COUNTRY CLUB
$25,000PLATT CADDIE SCHOLARSHIP
FRIENDS OF SAINT MALACHY
$20,000UNRESTRICTED
FRIENDS OF SAINT MALACHY
$10,000UNRESTRICTED