Bernice Gotaas Scholarship Fund
The Bernice Gotaas Scholarship Fund is a private foundation based in Mountain Home, Arkansas. It supports college scholarships, and its 2025 filing describes direct charitable activity as providing scholarships to more than 50 recipients in Marion County, Arkansas.
Key facts about Bernice Gotaas Scholarship Fund
In short: Bernice Gotaas Scholarship Fund gave $157K across 16 grants in 2025 (avg $10K), mostly in Arkansas. 9% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 46-1278964
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $157,050
- Grants made (2025)
- 16
- Average grant
- $9,816
- Median grant
- $3,825
- New grantees (estimate)
- 9% first-time grantees (1 of 11, 2025)
- Total assets
- $3,407,409
- Primary geography
- Arkansas (94% of itemized 2025 grant dollars)
- How to apply
- The 2025 filing lists First Security Bank as the contact and an application form as the required material. Full details ↓
- Deadline
- The filing lists April 1.
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$3.4M
+0.3% YoY
Annual Giving
$157K
+10.8% YoY
Grant Count
16
+0.0% YoY
Avg Grant Size
$10K
+10.8% YoY
Under IRS private-foundation payout rules, Bernice Gotaas Scholarship Fund reported a distributable amount of $183K for 2025 — the minimum it must pay out in qualifying distributions.
Is Bernice Gotaas Scholarship Fund open to new grantees?
9%
first-time grantees, 2025
In 2025, 1 of 11 grantees (9%) were first-time recipients. First grants averaged $2K; repeat grants $7K. How we count
Medians: $2K first-time, $5K repeat.
- 91% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−14%). Method
- In 2025 it paid out 97% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The foundation’s stated charitable activity is college scholarships. Its 2025 grants went to educational institutions, with each of the listed grants designated for scholarships.
Among the grantees, John Brown University describes its mission as providing Christ-centered education that prepares students to honor God and serve others. College of the Ozarks says it provides Christian education, especially for students without sufficient means to obtain it. Harding University describes its mission as transforming learners for global impact by engaging minds and nurturing faith. Ottawa University describes its mission as preparing professional and liberal arts graduates for lives of personal significance, vocational fulfillment, and service to God and humanity. These are the grantees’ descriptions of their own missions.
Grantmaking
In 2025, the foundation gave $157,050 through 16 grants. Grant amounts ranged from $1,200 to $61,750, with a median grant of $3,825.
Review Cycle
The filing lists April 1. This deadline is from the 2025 filing and is a past cycle.
Ready to take the next step with Bernice Gotaas Scholarship Fund?
Geographic Focus
Where this funder awards grants
The foundation’s filing states that awards are limited to graduates of high schools in Marion County, Arkansas. In 2025, 94% of grant dollars went to recipients in Arkansas, 3% to Missouri, 2% to Kansas, and 1% to Florida.
Grant Distribution by State
Share of 2025 grant dollars across all 16 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $142K (2024) to $183K (2022). In 2025 it made 16 grants totaling $157K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Uca ($62K). Together the top 10 received $134K.
Organizations only. It also paid 3 individual scholarships ($18,950), which are not listed by name.
Grant Size Distribution
76 grants across all recorded years
The most common grant size was under $50K: 72 grants of 76 (95%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Uca Conway, AR | Scholarships | $61,750 |
| University of Arkansas Fayetteville, AR | Scholarships | $34,750 |
| 3 individual scholarships Recipients not named | — | $18,950 |
| Ark State University Jonesboro, AR | Scholarships | $9,600 |
| John Brown University Siloam Springs, AR | Scholarships | $5,900 |
| Ark Tech University Russellville, AR | Scholarships | $4,800 |
| North Ark College Harrison, AR | Scholarships | $4,800 |
| College of the Ozarks Point Lookout, MO | Scholarships | $4,700 |
| Harding University Searcy, AR | Scholarships | $2,950 |
| Southern Ark University Magnolia, AR | Scholarships | $2,950 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants | Grant count |
|---|---|---|---|---|---|
| 2025 | $3,407,409 | $139,147 | $200,319 | $157,050 | 16 |
| 2024 | $3,396,991 | $134,249 | $182,680 | $141,700 | 16 |
| 2023 | $3,443,025 | $110,316 | $224,518 | $182,575 | 17 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $3,407,409 | $3,396,991 | $3,443,025 |
| Revenue | $139,147 | $134,249 | $110,316 |
| Expenses | $200,319 | $182,680 | $224,518 |
| Qualifying Distributions | $176,820 | $160,433 | $204,568 |
| Net Investment Income | $187,568 | $112,676 | $89,698 |
| Distributable Amount | $183,125 | $178,377 | $175,922 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 9, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 14, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 15, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 7, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS April 28, 2026)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
Paul Johnson is listed as chairman on the 2025 filing.
Bernice Gotaas Scholarship Fund is led by Paul Johnson, Chairman on every filing since 2020 — the only officer listed, and uncompensated.
Officers on the 2025 filing
Paul Johnson
Chairman
On filings since 2020
1 hr/week
No compensation reported
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.
Contact
Application contact: First Security Bank
Mailing address: P O Box 1906, Mountain Home, AR 72654-1906
Phone: (870) 425-2196
Frequently asked questions about Bernice Gotaas Scholarship Fund
How much does Bernice Gotaas Scholarship Fund give each year?
Bernice Gotaas Scholarship Fund gave $157K across 16 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $142K across 16 grants.
What is Bernice Gotaas Scholarship Fund's typical grant size?
Bernice Gotaas Scholarship Fund's median grant in 2025 was $3,825, and its average grant was $9,816, across 16 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Bernice Gotaas Scholarship Fund that year got $2K on average.
Where does Bernice Gotaas Scholarship Fund give grants?
Bernice Gotaas Scholarship Fund gives mostly in Arkansas: 94% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Conway, AR (2 grants).
Does Bernice Gotaas Scholarship Fund give general operating support?
Not in 2025: none of the 16 grants with a stated purpose on Bernice Gotaas Scholarship Fund's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarships" (16 grants).
Who are Bernice Gotaas Scholarship Fund's largest grantees?
Bernice Gotaas Scholarship Fund's largest 2025 grantees include Uca ($61,750), University of Arkansas ($34,750) and Ark State University ($9,600), according to its 2025 IRS Form 990-PF. It also paid 3 individual scholarships ($18,950), which are not listed by name. Together they received 68% of its itemized 2025 grant dollars.
How large is Bernice Gotaas Scholarship Fund?
Bernice Gotaas Scholarship Fund reported $3.4M in total assets on its 2025 IRS Form 990-PF. It paid out $177K in qualifying distributions that year, against a required minimum of $183K (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 does Bernice Gotaas Scholarship Fund fund?
The foundation’s stated charitable activity is college scholarships. Its 2025 grants went to educational institutions, with each of the listed grants designated for scholarships. See mission & focus areas ↑
How do I apply for a grant from Bernice Gotaas Scholarship Fund?
The 2025 filing lists First Security Bank as the contact and an application form as the required material. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Bernice Gotaas Scholarship Fund's EIN?
Bernice Gotaas Scholarship Fund's EIN (Employer Identification Number) is 46-1278964. 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. Research dossier generated September 2026.
Here's the math on researching Bernice Gotaas Scholarship Fund by hand.
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