Financial Information

With assets of approx­i­mate­ly $3.7 bil­lion at the end of 2025, the Annie E. Casey Foun­da­tion, locat­ed in Bal­ti­more, is among the largest pri­vate foun­da­tions in the Unit­ed States.

Audit­ed Finan­cial Statements

The down­load­able files con­tain the Audit­ed Finan­cial State­ments for the Casey Foun­da­tion, includ­ing the Inde­pen­dent Audi­tors’ Report, State­ment of Finan­cial Posi­tions, State­ment of Activ­i­ties, State­ment of Cash Flows and Notes to the Finan­cial Statements.

• View Audi­tors’ Report and Finan­cial State­ments for 2025 and 2024
• View Audi­tors’ Report and Finan­cial State­ments for 2024 and 2023
• View Audi­tors’ Report and Finan­cial State­ments for 2023 and 2022
• View Audi­tors’ Report and Finan­cial State­ments for 2022 and 2021

Finan­cial Highlights

Below is infor­ma­tion regard­ing the Foundation’s qual­i­fy­ing dis­tri­b­u­tions and total assets for the past 10 years. These num­bers are cal­cu­lat­ed based on the cur­rent tax rules and will dif­fer from the Foundation’s finan­cial statements.

990-PF

The 990-PF is the tax return that pri­vate foun­da­tions file each year with the IRS. The 990-PF for the Foun­da­tion is post­ed on Guide Star and the Foun­da­tion Cen­ter web­sites. If you have ques­tions or would like more infor­ma­tion on how to inter­pret this doc­u­ment, please con­tact Katie Tetrault, vice pres­i­dent, Finance and Grants Management.

What is Casey’s over­all invest­ment approach?

The Casey Foun­da­tion uses its resources in sev­er­al con­nect­ed ways to help chil­dren, young peo­ple, fam­i­lies and com­mu­ni­ties thrive. We invest in orga­ni­za­tions, peo­ple, knowl­edge, pub­lic sys­tems and prac­ti­cal tools that improve results for chil­dren and families.

Each year, Casey’s Board of Trustees sets a bud­get from the Foundation’s endow­ment using a for­mu­la designed to sus­tain its work over the long term. That mat­ters because the chal­lenges we focus on — includ­ing child wel­fare, juve­nile jus­tice, eco­nom­ic oppor­tu­ni­ty, edu­ca­tion, basic needs and com­mu­ni­ty lead­er­ship — require steady work over many years. The Foundation’s 2025 Annu­al Results Report describes five invest­ment areas: basic needs; per­ma­nent rela­tion­ships; finan­cial sta­bil­i­ty; ear­ly care, edu­ca­tion and cre­den­tials; and com­mu­ni­ty and youth leadership. 

What counts as the Annie E. Casey Foundation’s char­i­ta­ble spending?

Some pri­vate foun­da­tions, includ­ing the Casey Foun­da­tion, car­ry out their char­i­ta­ble mis­sions through mul­ti­ple invest­ment vehi­cles. The IRS uses the term qual­i­fy­ing dis­tri­b­u­tions for mon­ey used to accom­plish char­i­ta­ble, edu­ca­tion­al, sci­en­tif­ic or oth­er pub­lic pur­pos­es. These dis­tri­b­u­tions can include grants, impact invest­ments and work a foun­da­tion does itself, rather than through a grantee. That can include staff salaries, trav­el and oth­er oper­at­ing costs when they are need­ed for the foundation’s char­i­ta­ble work and are rea­son­able in amount. 

For Casey, char­i­ta­ble invest­ments include grants, pro­gram-relat­ed invest­ments, research, data, eval­u­a­tion, tech­ni­cal assis­tance, lead­er­ship devel­op­ment, pol­i­cy work, com­mu­ni­ca­tions, con­ven­ings and direct work by staff and con­sul­tants with part­ners and pub­lic systems.

How does the Annie E. Casey Foun­da­tion invest beyond grants? What kind of char­i­ta­ble work do Foun­da­tion staff do?

Most of the Foundation’s 200 staff are direct­ly involved in mis­sion work. They work with non­prof­it lead­ers, advo­cates, researchers, pol­i­cy­mak­ers and gov­ern­ment offi­cials to improve poli­cies, strength­en prac­tice and help effec­tive ideas reach more chil­dren and families.

The Casey Foun­da­tion funds data col­lec­tion and analy­sis, demon­stra­tion projects, evi­dence-based pro­grams and prac­tices, pol­i­cy advo­ca­cy and analy­sis, research and eval­u­a­tion, tech­ni­cal assis­tance, youth engage­ment and lead­er­ship devel­op­ment. Casey also invests in the effec­tive­ness of non­prof­it and gov­ern­ment lead­ers, orga­ni­za­tions and networks. 

What are good exam­ples of the Foundation’s direct char­i­ta­ble work aside from grants to organizations?

KIDS COUNT^® Data Book and Data Center

The annu­al KIDS COUNT Data Book and KIDS COUNT Data Cen­ter rep­re­sent the Foundation’s long-run­ning invest­ment in analy­sis of pub­lic data about the well-being of chil­dren. The Data Book, pro­duced for the past 37 years, gives pol­i­cy­mak­ers, advo­cates, jour­nal­ists, grantees and com­mu­ni­ties reli­able nation­al and state-lev­el infor­ma­tion on how chil­dren are doing. The 2026 edi­tion tracks child well-being across four areas — eco­nom­ic well-being, edu­ca­tion, health, and fam­i­ly and com­mu­ni­ty — using 16 indi­ca­tors, and it adds an enhanced index with rank­ings and scores to show how states com­pare and how con­di­tions have changed since 2019. The KIDS COUNT Data Cen­ter draws on data from more than 53 state- and ter­ri­to­ry-based grantee orga­ni­za­tions in the KIDS COUNT Net­work and hous­es hun­dreds of indi­ca­tors and more than 4 mil­lion data points. 

Kin­ship care work in South Car­oli­na and Maryland

The Casey Foun­da­tion works with pub­lic child wel­fare agen­cies to help more chil­dren remain safe­ly with fam­i­ly, rel­a­tives or trust­ed fam­i­ly friends when­ev­er pos­si­ble. The num­ber of chil­dren and youth ini­tial­ly placed with rel­a­tives or close fam­i­ly friends when they entered the child wel­fare sys­tem had increased by 145% by 2025 across South Car­oli­na and Mary­land, where Foun­da­tion staff have been work­ing with state offi­cials since 2021 and 2022, respec­tive­ly. South Carolina’s Teen Alter­na­tive Path­way Pilot, sup­port­ed with tech­ni­cal assis­tance from Casey staff and con­sul­tants, offers cri­sis sup­port, ther­a­py and com­mu­ni­ty-based ser­vices to help teens remain safe­ly with their fam­i­lies and avoid fos­ter care when possible. 

In Mary­land, the Foun­da­tion sup­port­ed the Depart­ment of Human Ser­vices as it intro­duced stream­lined licens­ing in Decem­ber 2024 to make kin place­ments the pre­ferred option for chil­dren who can­not remain safe­ly at home. This work helps more rel­a­tives and trust­ed fam­i­ly friends become approved care­givers and access ser­vices and finan­cial support. 

Okla­homa fos­ter care sys­tem improvement

Foun­da­tion staff worked with the state of Okla­homa in a mul­ti­year effort to improve its fos­ter care sys­tem. Okla­homa dou­bled the num­ber of approved fos­ter beds in three years through an effort to recruit and sup­port fos­ter par­ents, reduce reliance on shel­ters and group facil­i­ties and imple­ment child safe­ty meet­ings with fam­i­lies and communities. 

Youth jus­tice and pro­ba­tion reform

The Foun­da­tion works with juve­nile jus­tice lead­ers, courts, pro­ba­tion depart­ments, com­mu­ni­ty orga­ni­za­tions and young peo­ple to reduce unnec­es­sary deten­tion, keep more young peo­ple safe­ly in their com­mu­ni­ties and improve how sys­tems respond when young peo­ple get in trou­ble. Through the Juve­nile Deten­tion Alter­na­tives Ini­tia­tive^® (JDAI), Casey staff and con­sul­tants work with a nation­al net­work of juve­nile jus­tice prac­ti­tion­ers and sys­tem stake­hold­ers to reduce unnec­es­sary deten­tion and build safer, fair­er youth jus­tice sys­tems. Casey pro­vides tech­ni­cal assis­tance, learn­ing labs, prac­tice guides, imple­men­ta­tion tools, con­ven­ings and online resources that help juris­dic­tions use data, col­lab­o­ra­tion and com­mu­ni­ty-based alter­na­tives to confinement. 

Thir­ty juris­dic­tions have adopt­ed the Casey Foundation’s approach to pro­ba­tion trans­for­ma­tion, and among the 17 sites with com­plete data through 2024, out-of-home place­ments were down 41% since they began work­ing with Casey. Across 73 sites par­tic­i­pat­ing in JDAI, deten­tion admis­sions fell 17% from 2020 through 2025.

How much does the Annie E. Casey Foun­da­tion dis­trib­ute for char­i­ta­ble purposes?

The Foun­da­tion reports qual­i­fy­ing dis­tri­b­u­tions because they show the broad­er set of dol­lars used for char­i­ta­ble pur­pos­es. In 2025, Casey report­ed $196 mil­lion in qual­i­fy­ing dis­tri­b­u­tions.

How does the Annie E. Casey Foun­da­tion share finan­cial information?

Casey makes finan­cial and grant-mak­ing infor­ma­tion pub­lic in sev­er­al ways. The Annu­al Results Reports describes the Foun­da­tion’s pri­or­i­ties, invest­ments and results. Vis­it Finan­cial Infor­ma­tion page to see audit­ed finan­cial reports and finan­cial high­lights. Casey also shares grant infor­ma­tion through Can­did.