- The top 100 US foundations hold over $500 billion in combined assets, but asset size doesn't always correlate with generosity.
- By law, most private foundations must distribute at least 5% of assets annually — but many give significantly more.
- Don't chase the biggest names; focus on foundations whose giving patterns match your mission, geography, and grant size needs.
- Mid-size foundations ($50M–$500M in assets) are often more accessible and responsive to new grantees.
The Top 15 by Assets
Based on the most recent IRS 990-PF filings available, here are the largest private foundations in the United States by total assets. Each name links to their full profile on Signal990, where you can see grant recipients, financial history, and more.
| Rank | Foundation | State | Total Assets |
|---|---|---|---|
| 1 | Bill & Melinda Gates Foundation | WA | ~$67.3B |
| 2 | Lilly Endowment | IN | ~$42.8B |
| 3 | The Ford Foundation | NY | ~$16.4B |
| 4 | J. Paul Getty Trust | CA | ~$15.1B |
| 5 | Robert Wood Johnson Foundation | NJ | ~$13.8B |
| 6 | The William & Flora Hewlett Foundation | CA | ~$12.6B |
| 7 | W.K. Kellogg Foundation | MI | ~$9.2B |
| 8 | The David & Lucile Packard Foundation | CA | ~$8.9B |
| 9 | MacKenzie Scott (Yield Giving) | WA | ~$8.1B |
| 10 | Gordon & Betty Moore Foundation | CA | ~$7.8B |
| 11 | Andrew W. Mellon Foundation | NY | ~$7.5B |
| 12 | The Rockefeller Foundation | NY | ~$5.2B |
| 13 | The Kresge Foundation | MI | ~$4.1B |
| 14 | Bloomberg Philanthropies | NY | ~$3.9B |
| 15 | The Simons Foundation | NY | ~$3.7B |
Note: Asset figures are approximate and based on the most recent publicly available 990-PF filings. Actual current values may differ due to market fluctuations.
Assets vs. Actual Giving
A foundation's total assets indicate its overall size, but total grants paid is a better indicator of how much they actually distribute. The IRS requires most private foundations to distribute at least 5% of their net investment assets annually (the "5% payout rule").
This means:
- A foundation with $100 million in assets should distribute roughly $5 million per year in grants and operating expenses
- A foundation with $1 billion in assets should distribute roughly $50 million per year
However, many foundations significantly exceed the minimum. Some, like MacKenzie Scott's giving vehicle, have distributed billions in a single year — far exceeding the 5% threshold. Others hover right at the minimum.
When evaluating a foundation, compare their total grants paid to their total assets. A payout ratio significantly above 5% suggests a foundation that's actively trying to deploy capital, which may mean more opportunities for new grantees.
Notable Trends
Several patterns stand out from the data:
- Geographic concentration: California and New York dominate the top of the list. Combined, these two states are home to more than 40% of the largest foundations. See our California and New York foundation directories.
- Tech wealth is reshaping philanthropy: Foundations created from technology fortunes (Gates, Hewlett, Packard, Moore, Scott) now represent a significant share of total philanthropic assets.
- Giving is trending up: Total foundation giving in the US has increased year-over-year for over a decade, even after adjusting for inflation.
- Trust-based philanthropy is growing: More large foundations are shifting toward unrestricted, multi-year grants — a positive trend for nonprofits that historically had to chase narrow, restricted funding.
What This Means For Your Research
Don't just chase the biggest names. The top 15 foundations receive thousands of unsolicited proposals and typically fund through established relationships or invitation-only processes. Instead, consider this strategy:
- Start with mid-size foundations ($50M–$500M). They're large enough to make meaningful grants but small enough to be accessible. Many don't have elaborate application processes.
- Check if they fund your area. A $10B foundation focused on global health won't fund your local arts program, no matter how compelling your proposal.
- Look at grant size distribution. Some large foundations make hundreds of small grants ($5K–$50K); others make fewer, larger grants ($500K+). Match your ask to their pattern.
- Review their grantees. If a foundation already funds organizations similar to yours, you're a much stronger candidate. Use our reverse 990 method to find these connections — or let Signal990's anchor matching and AI funder matching do the work automatically.
- Map your connections. Signal990's connection paths feature shows how your board and network connect to any foundation — through shared board seats, co-funded organizations, and 2-hop network paths. A warm introduction beats a cold proposal every time.
Browse the Full Directory
Explore our complete foundation directory to browse by state, focus area, and grant size. Every foundation profile includes grant recipients, financial history, connection paths, and approach recommendations. You can also search by state — California, New York, Texas, and Florida have the most foundations.
For a step-by-step guide on how to use this data, read our guide on how to research foundation funders using IRS 990 data.
Written by the Signal990 Team
We analyze IRS 990 data to help nonprofits find the right foundation funders. Our team combines nonprofit development expertise with data science to make grant research faster and more effective.
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