Bernice E Peterson Scholarship Trust
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.
Bernice E Peterson Scholarship Trust at a glance
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.
- Annual giving (2025)
- $23,800
- +20.2% vs 2024
- Grants made (2025)
- 9
- +28.6% vs 2024
- Average grant
- $2,644
- -6.5% vs 2024
- Median grant
- $1,400
- Total assets
- $652,682
- -1.9% vs 2024
- Primary geography
- Iowa (88% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
Who Bernice E Peterson Scholarship Trust funds
How this funder distributes its grants
Grant Size Distribution
46 grants across all recorded years
The most common grant size was under $50K: 46 grants of 46 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 9 itemized grants.
Cities
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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $20K (2024) to $45K (2019). In 2025 it made 9 grants totaling $24K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 9 individual scholarships Recipients not named | — | $23,800 |
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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 | $652,682 | $17,684 | $30,220 | $23,800 | 9 | $29,050 | $21,016 | $28,416 |
| 2024 | $665,168 | $21,143 | $29,754 | $19,800 | 7 | $25,254 | $20,279 | $28,446 |
| 2023 | $677,311 | $14,357 | $32,146 | $25,615 | 16 | $31,086 | $19,152 | $28,885 |
| 2022 | $695,123 | $11,714 | $37,583 | $30,300 | 13 | $36,718 | $13,911 | $31,663 |
| 2021 | $721,329 | $6,258 | $27,948 | $20,350 | 1 | $24,135 | $1,987 | $35,847 |
| 2020 | $743,019 | $14,499 | $45,284 | $36,000 | 1 | — | $9,652 | $37,337 |
| 2019 | $773,804 | $20,857 | $54,006 | $44,500 | 1 | — | $16,805 | $37,818 |
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.
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.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2025 (received by the IRS May 6, 2026)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 2, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 9, 2025)
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 8, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 7, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS October 25, 2023)
Live grants for the work Bernice E Peterson Scholarship Trust funds
Education Open opportunities, soonest deadline first.
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Browse active grant opportunities in Bernice E Peterson Scholarship Trust's focus areas in our free grants database
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