Bernice E Peterson Scholarship Trust

Private foundation · Grantmaker Algona, IA EIN: 47-7204491

Bernice E Peterson Scholarship Trust is a private foundation focused on Education, based in Algona, IA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $653K in total assets. In 2025, it awarded 9 grants totaling $24K. Net investment income was $21K.

Key facts about Bernice E Peterson Scholarship Trust

In short: Bernice E Peterson Scholarship Trust gave $24K across 9 grants in 2025 (avg $3K), mostly in Iowa. Source: 2025 IRS Form 990-PF.

EIN
47-7204491
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$23,800
Grants made (2025)
9
Average grant
$2,644
Median grant
$1,400
Total assets
$652,682
Primary geography
Iowa (88% of itemized 2025 grant dollars)

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

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$653K

-1.9% YoY

Annual Giving

$24K

+20.2% YoY

Grant Count

9

+28.6% YoY

Avg Grant Size

$3K

-6.5% YoY

Under IRS private-foundation payout rules, Bernice E Peterson Scholarship Trust reported a distributable amount of $28K for 2025 — the minimum it must pay out in qualifying distributions.

How Bernice E Peterson Scholarship Trust gives

  • Giving fell 21% from 2022 to 2025. Method
  • In 2025 it paid out 102% 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

4states

Share of 2025 grant dollars across all 9 itemized grants.

Cities

AmesSheldonSioux CityAlgonaDes MoinesIndianolaIowa CityStorm LakeWaterlooCookevilleForest CityJohnstonOrange CityPocahontasSewardWaverlyAnkenyBrookingsCedar FallsCouncil Bluffs

Giving Over Time

Total grant dollars and number of grants per year

$0$20K$40K$60K1 grant2019 1 grant2020 1 grant2021 13 grants2022 16 grants2023 7 grants2024 9 grants2025

From 2019 to 2025, annual grant giving ranged from $20K (2024) to $45K (2019). In 2025 it made 9 grants totaling $24K.

Grant Insights

How this funder distributes its grants

Grant Size Distribution

46 grants across all recorded years

46<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 46 grants of 46 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
9 individual scholarships Recipients not named —$23,800

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$20K$40K$60K2019 2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$652,682$665,168$677,311
Revenue$17,684$21,143$14,357
Expenses$30,220$29,754$32,146
Qualifying Distributions$29,050$25,254$31,086
Net Investment Income$21,016$20,279$19,152
Distributable Amount$28,416$28,446$28,885

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2025 (received by the IRS May 6, 2026)
  2. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 2, 2024)
  3. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 9, 2025)
  4. Added Form 990-PF for fiscal year 2019 (received by the IRS May 8, 2020)
  5. Updated Form 990-PF for fiscal year 2020 (received by the IRS May 7, 2021)
  6. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
  7. Updated Form 990-PF for fiscal year 2022 (received by the IRS October 25, 2023)

Leadership & Key People

Officers and directors from IRS filings

Bernice E Peterson Scholarship Trust's only listed officer is Iowa State Bank, Trustee on every filing since 2022 (uncompensated).

Officers on the 2025 filing

  • Iowa State Bank

    Trustee

    On filings since 2022

    1.2 hrs/week

    No compensation reported

Former officers (2)
  • Former: Iowa State Bank Kristie A Brown (2020–2021) — Trustee
  • Former: Availa Bank (2019) — Trustee

Data from IRS Form 990 filings, 2019–2025. "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 Bernice E Peterson Scholarship Trust

How much does Bernice E Peterson Scholarship Trust give each year?

Bernice E Peterson Scholarship Trust gave $24K across 9 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $20K across 7 grants.

What is Bernice E Peterson Scholarship Trust's typical grant size?

Bernice E Peterson Scholarship Trust's median grant in 2025 was $1,400, and its average grant was $2,644, across 9 grants on its 2025 IRS Form 990-PF.

Where does Bernice E Peterson Scholarship Trust give grants?

Bernice E Peterson Scholarship Trust gives mostly in Iowa: 88% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was South Dakota (12%).

Does Bernice E Peterson Scholarship Trust give general operating support?

Not in 2025: none of the 9 grants with a stated purpose on Bernice E Peterson Scholarship Trust's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarships for Pocahontas Area High School Graduates" (9 grants).

How large is Bernice E Peterson Scholarship Trust?

Bernice E Peterson Scholarship Trust reported $653K in total assets on its 2025 IRS Form 990-PF. It paid out $29K in qualifying distributions that year, against a required minimum of $28K (roughly 5% of its investment assets).

What is Bernice E Peterson Scholarship Trust?

Bernice E Peterson Scholarship Trust is a private foundation focused on Education, based in Algona, IA. It holds $653K in total assets as of 2025.

What is Bernice E Peterson Scholarship Trust's EIN?

Bernice E Peterson Scholarship Trust's EIN (Employer Identification Number) is 47-7204491. IRS Form 990 filing data is available on this page for 2019–2025.

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

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