The Carroll and Milton Petrie Foundation Inc

Quick Stats

Annual Giving: $7,002,183 (2023)
Total Assets: $102.9 million (2024)
Number of Grants: 81 grants (2023)
Grant Range: $1,000 - $402,000
Median Grant: $100,000
Geographic Focus: New York City (five boroughs)
Decision Timeline: 8-12 weeks preparation before Board meetings (held three times annually)

Contact Details

Address: 15 Metrotech Center, Suite 731, Brooklyn, NY 11201

Phone: 917-753-0877

Overview

The Carroll and Milton Petrie Foundation began active operations in 1998 as a private, independent grantmaking institution, established from the estate of Milton Petrie, a successful retailer and philanthropist who died in 1994 leaving $300-400 million to establish the foundation. The foundation holds assets of $102.9 million (2024) and distributes approximately $7 million annually in grants. The foundation is dedicated to expanding opportunities by improving higher education and career connections for low-income New Yorkers, particularly those from marginalized communities and graduates of New York City public schools. Their core philosophy centers on "fighting poverty through higher education and career connections," viewing education and employment pathways as primary levers for economic mobility. The foundation operates primarily in the five boroughs of New York City, focusing on innovative programs that create sustainable pathways from college access through career success.

Funding Priorities

Grant Programs

The foundation focuses on three strategic priority areas:

1. Connect to College - Programs that improve readiness for and connection to higher education for low-income students. Grant amounts vary based on program scope.

2. Thrive and Succeed in College - Innovations toward persistence and graduation that enable students to succeed in college. Recent examples include $30,000-$80,000 for food pantries and student emergency grant funds at individual colleges.

3. Strong First Jobs - Programs that increase access to high-potential careers upon graduation. This includes comprehensive career readiness initiatives like the $1 million three-year grant to CUNY Beyond.

Application Method: Primarily invitation-only with initial inquiry process. Applications accepted on a rolling basis with Board meetings three times yearly (winter, spring, fall).

Recent Grant Examples (2023-2024)

New Visions for Public Schools Inc: $402,000 for Postsecondary Advising
Research Foundation of The City University of New York: $210,000 for LaGuardia English Express
Research Foundation Of The City University Of New York: $200,000 for Working the Gap
Internationals Network for Public Schools Inc: $200,000 for Providing Immigrant, Multilingual Learners Equitable Access to Postsecondary Opportunities
Hillel the Foundation for Jewish Campus Life: $175,000 for Hillel International's Campus Climate Initiative
CUNY Beyond: $1 million (three-year grant) for comprehensive career readiness initiative
Food pantries on seven CUNY campuses: $170,000
LaGuardia Community College: $30,000 for food pantry operations

Priority Areas

College access and readiness programs for NYC public school students
Student persistence and graduation initiatives
Food security programs addressing student basic needs
Career development and workforce readiness programs
Programs serving immigrant and multilingual learners
Emergency financial assistance for students
College-to-career transition support

What They Don't Fund

Individual student applications (except through institutional emergency grant programs)
Special events or fundraising benefits
Organizations outside New York City
Programs not serving graduates of New York City public schools or low-income New Yorkers

Governance and Leadership

Staff

Cass Conrad, Executive Director
Alex Roland, Knowledge & Grants Manager
Desiree Vazquez Barlatt, Program Officer

Board of Trustees

Co-Presidents:

Etta Brandman, Patterson Belknap Webb & Tyler LLP
Regina Peruggi, Kingsborough Community College, Retired

Trustees:

Steve Colón, Bottom Line
Cass Conrad, The Carroll and Milton Petrie Foundation
Gail Gordon, Loews Corporation, Retired
Meisha Porter, Center for Educational Innovation
David Tanner, Three Mile Capital LLC
Jean Troubh, City Parks Foundation Trustee
Karrin Wilks, Borough of Manhattan Community College, Retired

The board composition reflects deep expertise in education, particularly within the CUNY system, nonprofit management, and corporate leadership, with several trustees having direct experience in college administration and student support services.

Application Process & Timeline

How to Apply

The Carroll and Milton Petrie Foundation operates primarily on an invitation-only basis, though they do accept initial inquiries from organizations whose work aligns with their priorities.

Initial Inquiry Process:

Organizations interested in funding should submit an overview of 1,000 characters or less with an estimated total project budget to info@petrie.org
Focus the inquiry on one of the foundation's priority areas: "Connect to College," "Thrive and Succeed: Innovations toward Persistence and Graduation," or "Strong First Job"
The foundation notes that "the majority of applications are accepted by invitation only," though they remain open to learning about prospective projects with clear alignment to current priorities

If Invited to Apply:

Foundation staff will schedule a brief introductory call to discuss the project
Invited applicants prepare narrative and budget drafts for review with foundation staff
After staff review and feedback, applicants submit finalized materials through an online portal

Eligibility:

Must be a tax-exempt 501(c)(3) organization
Priority given to nonprofits and NYC-based colleges/universities
Must serve learners from the five boroughs of New York City
Must serve graduates of New York City public schools

Decision Timeline

Board Meetings: Three times yearly (winter, spring, fall)
Application Preparation: Typically commences 8-12 weeks before each Board meeting
Total Timeline: Organizations should anticipate approximately 2-3 months from invitation to Board decision

Success Rates

Specific success rate data is not publicly available. However, the foundation awarded 81 grants in 2023, suggesting a selective but active grantmaking approach. The invitation-only nature of most applications indicates a competitive process focused on strategic alignment with foundation priorities.

Reapplication Policy

Specific reapplication policies for unsuccessful applicants are not publicly documented. Organizations should inquire directly with program staff about reapplication timing if an initial proposal is declined.

Application Success Factors

Based on the foundation's documented priorities and recent grantmaking patterns, the following factors appear most important:

1. Geographic Focus and Population Served The foundation has a laser focus on New York City, specifically serving graduates of NYC public schools and low-income New Yorkers from the five boroughs. Programs must demonstrate clear service to this specific population.

2. Alignment with Strategic Priorities Successful grants clearly align with one of the three strategic areas: Connect to College, Thrive and Succeed in College, or Strong First Jobs. The foundation supports "innovative programs and practices" in these areas, suggesting they value fresh approaches to persistent challenges.

3. Evidence of Impact on Economic Mobility The foundation's core philosophy of "fighting poverty through higher education and career connections" suggests they look for programs with clear pathways to economic opportunity. Applications should articulate how their work creates sustainable change in participants' economic trajectories.

4. Systems-Level Change Recent grants to organizations like New Visions for Public Schools ($402K for Postsecondary Advising) and CUNY Beyond ($1M for career readiness) suggest the foundation supports programs that can influence practices at scale, not just individual student services.

5. Addressing Basic Needs Multiple grants to food pantries and student emergency funds demonstrate the foundation's recognition that basic needs must be met for students to succeed academically. Programs addressing food insecurity, emergency financial needs, and other barriers to persistence are valued.

6. Strong Institutional Partnerships The foundation works extensively with CUNY colleges and established NYC education nonprofits. Demonstrated partnerships with credible institutions and a track record of effective program delivery appear important.

7. Pre-Application Relationship Building The foundation's process emphasizes preliminary conversations with program officers before formal application. Organizations should be prepared to engage in dialogue about their work and demonstrate how it aligns with foundation priorities before receiving an invitation to apply.

Key Takeaways for Grant Writers

NYC-specific focus is non-negotiable: Your program must serve graduates of NYC public schools or low-income New Yorkers from the five boroughs. Geographic fit is essential.
Start with an inquiry, not a full proposal: Submit a concise 1,000-character overview to info@petrie.org before investing time in a full application. Be specific about which of the three priority areas your work addresses.
Emphasize innovation and systems change: The foundation seeks "innovative programs and practices" that can influence broader educational systems, not just incremental improvements to existing approaches.
Connect your work to economic mobility: Articulate clear pathways from your program to participants' economic opportunity. The foundation views education and career connections as tools for fighting poverty.
Don't overlook basic needs support: If your program addresses student food insecurity, emergency financial needs, or other barriers to persistence, this aligns well with recent grantmaking patterns.
Build the relationship first: The invitation-only process and emphasis on preliminary conversations suggest relationship-building with program staff is crucial before formal application.
Plan ahead for Board timing: With only three Board meetings annually and 8-12 weeks of preparation typically required, organizations should initiate contact well in advance of when funding is needed.

References

The Carroll and Milton Petrie Foundation official website - www.petrie.org (Accessed December 2024)
The Carroll and Milton Petrie Foundation, "Our Process" - www.petrie.org/our-process (Accessed December 2024)
The Carroll and Milton Petrie Foundation, "Our People" - www.petrie.org/our-people (Accessed December 2024)
The Carroll and Milton Petrie Foundation, "About" - www.petrie.org/about (Accessed December 2024)
ProPublica Nonprofit Explorer, "The Carroll And Milton Petrie Foundation Inc" - projects.propublica.org/nonprofits/organizations/201451752 (Accessed December 2024)
Instrumentl 990 Report, "The Carroll And Milton Petrie Foundation Inc" - www.instrumentl.com/990-report/carroll-and-milton-petrie-foundation-inc-co-brandman-at-stroock (Accessed December 2024)
CUNY Newswire, "The Carroll and Milton Petrie Foundation Supports LaGuardia Community College Student Success" (July 18, 2024) - www1.cuny.edu/mu/forum/2024/07/18/the-carroll-and-milton-petrie-foundation-supports-laguardia-community-college-student-success/
CUNY, "Petrie Foundation Awards Nearly $1.2 Million in New Funding for CUNY Food Pantries and Signature Career Readiness Initiative" - www.cuny.edu/news/petrie-foundation-awards-nearly-1-2-million-in-new-funding-for-cuny-food-pantries-and-signature-career-readiness-initiative/
Wikipedia, "Milton Petrie" - en.wikipedia.org/wiki/Milton_Petrie (Accessed December 2024)
Candid Foundation Directory Online, "The Carroll and Milton Petrie Foundation Inc" - fconline.foundationcenter.org/fdo-grantmaker-profile/?key=PETR417 (Accessed December 2024)