Peter and Carmen Lucia Buck Foundation (PCLB)

The Peter and Carmen Lucia Buck Foundation (PCLB) is a left-of-center private grantmaking foundation that was created by late Subway co-founder Peter Buck and his wife Carmen. It primarily makes grants to schools and education programs, but also funds health-care programs, conservation efforts, and scientific research. 1

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At-A-Glance

Type: Non-profit, 501(c)(3), Private Foundation
Ideological Alignment: Left of Center
Website: pclbfoundation.org
Formation:

1999

Executive Director:

Carrie Schindele

Location: Mystic, CT View on map
Tax ID: 06-1547852
Most Recent Filing: 2025
Budget (2025): Assets: $2,838,832,516 Revenue: $1,918,181,862 Expenses: $116,089,618

Contents

    Background

    Founded in 1999, the Peter and Carmen Lucia Buck Foundation is the private foundation of Subway co-founder and former nuclear physicist Peter Buck and his wife Carmen. In 2021, Peter Buck passed away, leaving 50 percent of Subway to PCLB in his will. In 2023, Subway was sold for $9.6 billion to Roark Capital, yielding an estimated $4.8 billion bequest to PCLB. 1

    As of February 2026, PCLB has five grantmaking areas: education, conservation, healthcare, scientific research, and “family projects,” which it reports to be philanthropic ventures that align with the “personal interests and connections” of the Buck family. 2

    Funding

    According to its website, in 2025 the Peter and Carmen Lucia Buck Foundation reported making over $106 million in grants. Its website reported that it made $75.6 in grants and scholarships under its education grantmaking programming, $15.5 million towards conservation efforts and outdoor programs, $6.25 million under its healthcare programming, $5.9 million for scientific research, and $2.92 million under its “family projects” grantmaking. 3

    In 2024, the PCLB made a $30,000 grant to the American Civil Liberties Union Foundation of Connecticut, $10,000 to Boulder Pride, $10 million to the KIPP Foundation, $2.1 million to the Leadership for Educational Equity Foundation (LEEF), $1 million to Teach for America, and $4.25 million to Zeta Charter Schools. 4

    Leadership

    Carrie Scindele is the executive director of the Peter and Carmen Lucia Buck Foundation as of 2026. She previously worked as an associate director of development for the Salvation Army and as an associate manager of foundation relations for the New York Public Library. 5

    Financials

    According to its 2024 tax forms, the Peter and Carmen Lucia Buck Foundation over $1.9 billion in revenue, with roughly $1.75 billion through contributions from Peter Buck’s estate. It also reported $116 million in total expenses, $106 million of which were grants paid, and over $2.8 billion in net assets. 6

    Financial Statistics

    Total Assets

    Total Revenue

    Total Expenses

    YearTotal AssetsTotal RevenueTotal ExpensesFiling
    2025 $2,838,832,516 $1,918,181,862 $116,089,618 View
    2024 $1,027,671,996 $331,422,950 $54,615,644 View
    2023 $766,417,071 $205,282,218 $42,847,393 View
    2022 $592,475,663 $57,107,510 $36,087,830 View
    2021 $685,898,037 $60,829,826 $30,705,253 View

    Prior year filings: 2020, 2016, 2015, 2014, 2013, 2012

    Expenses Detail

    Employee Compensation

    Highest Earning Employees

    EmployeeTitleTotal Compensation
    Carrie SchindeleEXECUTIVE DIRECTOR$408,333
    D Ben BenoitCHIEF FINANCIAL OFFICER AND DIRECTOR$301,146
    Christopher BuckDIRECTOR$25,000
    Michael BuckTREASURER/DIRECTOR$25,000
    Samuel BuckSECRETARY/DIRECTOR$25,000
    Vera LourencoDIRECTOR$25,000
    William BuckPRESIDENT/DIRECTOR$25,000

    Grant Activity

    All-time grants received statistics from Candid dataset:

    • Total Grant Value: $65,000
    • Number of Grants: 4
    • Number of Funders: 1

    All-time grants given statistics from Candid dataset:

    • Total Grant Value: $410,160,150
    • Number of Grants: 1,987
    • Number of Recipients: 490

    Selection of highest value grants given from the last seven years:

    AmountYearFunderSubject
    $10,000,0002025 KIPP FoundationGENERAL OPERATING SUPPORT
    $9,400,0002025 The Mind Trust IncCHARTERFORWARDCT
    $4,975,0002023 Achievement FirstGENERAL OPERATING SUPPORT
    $4,500,0002022 Achievement FirstGENERAL OPERATING SUPPORT
    $4,500,0002021 Achievement FirstGENERAL OPERATING SUPPORT
    $4,250,0002025 Zeta Charter Schools IncGENERAL OPERATING SUPPORT
    $4,250,0002020 Achievement FirstGeneral operating support
    $3,708,1002024 50CAN INCLEAD (LATINOS FOR EDUCATIONAL ADVOCACY AND DIVERSITY)
    $3,600,0002025 New Leaders IncASPIRING TEACHERS ACCELERATOR PROGRAM
    $3,500,0002025 Achievement FirstGENERAL OPERATING SUPPORT
    $3,500,0002025 Success Academy Charter Schools IncK-12 CURRICULUM REDESIGN AND SCALING
    $3,500,0002024 Achievement FirstGENERAL OPERATING SUPPORT
    $3,000,0002025 Lake George Land Conservancy, Inc.PILOT KNOB MOUNTAIN (WHITETAIL TRUST)
    $2,630,0002025 Teachorg IncGENERAL OPERATING SUPPORT
    $2,500,0002025 Elevate Charter Schools IncGENERAL OPERATING AND DANBURY CHARTER SCHOOL SUPPORT
    $2,500,0002025 Medicines Sans FrontieresANTIBIOGO AND ANTIMICROBIAL RESISTANCE (AMR) PROJECT
    $2,493,5002025 Trustees of Columbia University in the City of New YorkCPRL: STRENGTHENING THE EDUCATOR WORKFORCE IN CONNECTICUT AND NEW YORK
    $2,493,5002024 Trustees of Columbia University in the City of New YorkCPRL: STRENGTHENING THE EDUCATOR WORKFORCE IN CONNECTICUT AND NEW YORK
    $2,480,0002025 Connecticut State Colleges and UniversitiesEXCELLENCE IN TEACHER PREPARATION THROUGH SYSTEMWIDE TEACHER RESIDENCY
    $2,360,0002022 Elevate Charter Schools IncGENERAL OPERATING SUPPORT
    $2,100,0002025 LEADERSHIP FOR EDUCATIONAL EQUITY FOUNDATIONGENERAL OPERATING SUPPORT
    $2,100,0002025 Relay Graduate School of EducationCHARTER RESIDENCY CONSORTIUM
    $2,100,0002025 TSNESCHOOL + STATE FINANCE PROJECT
    $2,025,0002023 Elevate Charter Schools IncGENERAL OPERATING SUPPORT
    $2,000,0002025 Equable InstituteNATIONAL CHARTER SCHOOL RETIREMENT SYSTEM

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    Financials, employee compensation, and grant information provided by Candid.

    Mentioned in this Article

    References

    1. Paris, Wendy. “Meet Another Billion-Dollar Foundation, Courtesy of the Subway Sandwich Fortune.” Inside Philanthropy. September 17, 2025. https://www.insidephilanthropy.com/home/meet-another-billion-dollar-foundation-courtesy-of-the-subway-sandwich-fortune.
    2. “Family Projects.” Peter and Lucia Buck Foundation. Accessed February 16, 2026. https://pclbfoundation.org/program-areas/family-projects/.
    3. “Grants Awarded or Paid in 2025.” Peter and Carmen Lucia Buck Foundation. Accessed February 16, 2026. https://pclbfoundation.org/grantees-2025/.
    4. Return of Private Foundation Exempt from Income Tax (Form 990-PF). Peter And Carmen Lucia Buck Foundation. 2024. Part XIV. https://projects.propublica.org/nonprofits/organizations/61547852/202543189349105474/full
    5. “Carrie Schindele.” LinkedIn. Accessed February 16, 2026. https://www.linkedin.com/in/carrie-schindele-74974730/.
    6. Return of Private Foundation Exempt from Income Tax (Form 990-PF). Peter And Carmen Lucia Buck Foundation. 2024. Part I and II. https://projects.propublica.org/nonprofits/organizations/61547852/202543189349105474/full