Ace and Connie Cory Foundation

Private foundation · Grantmaker Spencer, IA EIN: 42-1481103

Ace and Connie Cory Foundation is a private foundation, based in Spencer, IA. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $56K in total assets. In 2025, it awarded 1 grant totaling $5K. Net investment income was $84.

Key facts about Ace and Connie Cory Foundation

In short: Ace and Connie Cory Foundation gave $5K across 1 grant in 2025 (avg $5K), mostly in Iowa. Source: 2025 IRS Form 990-PF.

EIN
42-1481103
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$5,000
Grants made (2025)
1
Average grant
$5,000
Median grant
$5,000
Total assets
$55,564
Primary geography
Iowa (100% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$56K

-8.1% YoY

Annual Giving

$5K

+0.0% YoY

Grant Count

1

+0.0% YoY

Avg Grant Size

$5K

+0.0% YoY

Under IRS private-foundation payout rules, Ace and Connie Cory Foundation reported a distributable amount of $3K for 2025 — the minimum it must pay out in qualifying distributions.

How Ace and Connie Cory Foundation gives

  • Giving fell 29% from 2022 to 2025. Method
  • In 2025 it paid out 145% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

2states

Share of the 2025 grant dollars on its one itemized grant.

Cities

OkobojiMinneapolis

Giving Over Time

Total grant dollars and number of grants per year

$0$2.5K$5K$7.5K$10K0 grants2020 0 grants2021 2 grants2022 2 grants2023 1 grant2024 1 grant2025

From 2022 to 2025, annual grant giving ranged from $5K (2024) to $10K (2023). In 2025 it made 1 grant totaling $5K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top recipient in 2025

Pearson Lakes Art Center: $5KPearson Lakes Art Center$5K

The largest 2025 recipient was Pearson Lakes Art Center ($5K).

Grant Size Distribution

6 grants across all recorded years

6<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 6 grants of 6 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Pearson Lakes Art Center Okoboji, IASupport Area Performing Arts$5,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$20K$40K$60K$80K2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$55,564$60,481$73,798
Revenue$84$102$67,230
Expenses$5,001$13,419$10,114
Qualifying Distributions$5,000$5,000$10,000
Net Investment Income$84$102$67,230
Distributable Amount$3,437$3,880$1,132

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS April 26, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS November 15, 2022)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS September 5, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 14, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 15, 2025)
  6. Added Form 990-PF for fiscal year 2025 (received by the IRS May 7, 2026)
  7. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Officers and directors from IRS filings

Ace and Connie Cory Foundation is led by Gary Peters, Trustee on every filing since 2021 — the only officer listed, and uncompensated.

Officers on the 2025 filing

  • Gary Peters

    Trustee

    On filings since 2021

    1 hr/week

    No compensation reported

Former officers (1)
  • Former: Constance Cory (2020) — President

Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Frequently asked questions about Ace and Connie Cory Foundation

How much does Ace and Connie Cory Foundation give each year?

Ace and Connie Cory Foundation gave $5K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $5K across 1 grant.

How large is Ace and Connie Cory Foundation?

Ace and Connie Cory Foundation reported $56K in total assets on its 2025 IRS Form 990-PF. It paid out $5K in qualifying distributions that year, against a required minimum of $3K (roughly 5% of its investment assets).

Where does Ace and Connie Cory Foundation operate?

Ace and Connie Cory Foundation has awarded grants in Iowa, Minnesota.

What is Ace and Connie Cory Foundation's EIN?

Ace and Connie Cory Foundation's EIN (Employer Identification Number) is 42-1481103. IRS Form 990 filing data is available on this page for 2020–2025.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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