Beard Scholarship Fund
Beard Scholarship Fund is a private foundation, based in Pennington, NJ. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $58.3M in total assets. In 2025, it awarded 4 grants totaling $2.8M. Net investment income was $3.5M.
Beard Scholarship Fund at a glance
In short: Beard Scholarship Fund gave $2.8M across 4 grants in 2025 (avg $693K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $2,770,188
- +9.6% vs 2024
- Grants made (2025)
- 4
- +0.0% vs 2024
- Average grant
- $692,547
- +9.6% vs 2024
- Median grant
- $692,547
- Total assets
- $58,252,487
- +0.7% vs 2024
- Primary geography
- Illinois (90% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Beard Scholarship Fund funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2025
The largest 2025 recipient was Northwestern University ($1.1M). Together the top 4 received $2.8M.
Grant Size Distribution
20 grants across all recorded years
The most common grant size was in the $100–250K range: 6 grants of 20 (30%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 4 itemized grants.
Cities
How Beard Scholarship Fund gives
- Giving grew 42% from 2022 to 2025. Method
- In 2025 it paid out 90% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $1.8M (2020) to $2.8M (2025). In 2025 it made 4 grants totaling $2.8M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Northwestern University Evanston, IL | Unrestricted General | $1,108,075 |
| Bradley University Peoria, IL | Unrestricted General | $1,108,075 |
| Peoria High School Alumni Association Peoria, IL | Unrestricted General | $277,019 |
| Texas Lutheran University Seguin, TX | Unrestricted General | $277,019 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $58,252,487 | $3,909,870 | $3,486,875 | $2,770,188 | 4 | $3,010,606 | $3,476,753 | $3,333,257 |
| 2024 | $57,875,352 | $3,614,644 | $3,230,375 | $2,526,492 | 4 | $2,861,155 | $3,337,353 | $3,104,850 |
| 2023 | $57,406,808 | $3,273,533 | $2,947,605 | $2,334,654 | 4 | $2,647,545 | $2,957,879 | $2,839,382 |
| 2022 | $57,113,341 | $8,352,511 | $2,613,537 | $1,950,000 | 4 | $2,280,980 | $3,106,693 | $3,009,318 |
| 2020 | $46,679,775 | $3,452,225 | $2,316,924 | $1,797,930 | 4 | — | $704,141 | $2,417,245 |
Under IRS private-foundation payout rules, Beard Scholarship Fund reported a distributable amount of $3.3M for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Beard Scholarship Fund's only listed officer is Bank Of America N A, Trustee on every filing since 2020 (compensated).
Officers on the 2025 filing
Bank Of America N A
Trustee
On filings since 2020
2 hrs/week
$458K (2020) → $601K (2025)
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $601K, to Bank of America N a (Trustee).
Frequently asked questions about Beard Scholarship Fund
How much does Beard Scholarship Fund give each year?
Beard Scholarship Fund gave $2.8M across 4 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $2.5M across 4 grants.
What is Beard Scholarship Fund's typical grant size?
Beard Scholarship Fund's median grant in 2025 was $692,547, and its average grant was $692,547, across 4 grants on its 2025 IRS Form 990-PF.
Where does Beard Scholarship Fund give grants?
Beard Scholarship Fund gives mostly in Illinois: 90% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Texas (10%). The most frequent recipient cities were Peoria, IL (2 grants).
Does Beard Scholarship Fund give general operating support?
Yes: 100% of Beard Scholarship Fund's 2025 grants with a stated purpose (4 of 4) were for general or operating support, per its 2025 IRS Form 990-PF.
How large is Beard Scholarship Fund?
Beard Scholarship Fund reported $58.3M in total assets on its 2025 IRS Form 990-PF. It paid out $3.0M in qualifying distributions that year, against a required minimum of $3.3M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Beard Scholarship Fund's EIN?
Beard Scholarship Fund's EIN (Employer Identification Number) is 30-6661295. 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.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS October 4, 2021)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS August 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS August 7, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS December 17, 2024)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS February 13, 2026)
- IRS filings on file for fiscal years 2020–2025
Live grants for the work Beard Scholarship Fund funds
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