THE MISSION OF CARDINAL FUNDS INC IS TO HOLD BALL STATE UNIVERSITY FOUNDATION SCHOLARSHIP FUNDS FOR CURRENT STUDENTS OR GRADUATES OF THE UNIVERSITY, INDIANA ACADEMY AND BURRIS LABORATORY SCHOOL AS WELL AS FUNDS FOR THE BENEFIT OF OTHER QUALIFIED EXEMPT ORGANIZATIONS THAT SERVE UNIVERSITY STUDENTS, ALUMNI, FACULTY AND STAFF.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.8M
+14.9% YoY
Annual Giving
$108K
-21.6% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$108K
-21.6% YoY
About Cardinal Funds Inc
Based on IRS filings
Cardinal Funds Inc is a nonprofit organization focused on Education, based in MUNCIE, IN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.8M in total assets. In 2024, it awarded 1 grants totaling $108K. Net investment income was $273K.
Focus Areas
Ready to take the next step with Cardinal Funds Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,828,290 | $2,460,905 | $2,579,849 |
| Revenue | $476,628 | $25,806 | $86,713 |
| Expenses | $127,895 | $144,750 | $124,398 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $273,037 | $-136,502 | $-127,066 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
5 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Ball State University ($108,167).
| Recipient | Purpose | Amount |
|---|---|---|
| BALL STATE UNIVERSITY MUNCIE, IN | SCHOLARSHIP FUNDING | $108,167 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Michael C Ray | Chair | 1 | — |
| Patrick J Alderdice | Vice Chair | 1 | — |
| Stephen Wachtmann | Secretary/Treasurer | 2 | — |
| David Heeter | Board Member | 1 | — |
| Donald Ray Allen | Board Member (End 3/24) | 2 | — |
| Jean Kramer Crosby | Board Member | 2 | — |
| Marla K Templeton | Board Member | 1 | — |
| Will Cooper | Board Member (Beg 3/24) | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Cardinal Funds Inc?
Cardinal Funds Inc is a nonprofit organization focused on Education, based in MUNCIE, IN. It holds $2.8M in total assets as of 2024.
How large is Cardinal Funds Inc?
As of 2024, Cardinal Funds Inc holds $2.8M in total assets with $477K in annual revenue. It awarded 1 grants totaling $108K in 2024.
Where does Cardinal Funds Inc operate?
Cardinal Funds Inc has awarded grants in Indiana.
What size grants does Cardinal Funds Inc award?
In 2024, Cardinal Funds Inc awarded 1 grants totaling $108K — an average of about $108K per grant, based on its IRS Form 990 filings.
What is Cardinal Funds Inc's EIN?
Cardinal Funds Inc's EIN (Employer Identification Number) is 20-5733080. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Cardinal Funds Inc's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
Morgan Stanley Global Impact Funding Trust Inc
INDIANAPOLIS, IN
Assets
$9.1B
Grants
19,253
Total Given
$1.2B
Lilly Endowment Inc
INDIANAPOLIS, IN
Assets
$79.9B
Grants
1,808
Total Given
$2.3B
Central Indiana Community Foundation Inc
INDIANAPOLIS, IN
Assets
$583.5M
Grants
525
Total Given
$31.1M
United Way of Central Indiana Inc
INDIANAPOLIS, IN
Assets
$255.2M
Grants
370
Total Given
$29.9M
Round Room Gives Inc
FISHERS, IN
Assets
$1.4M
Grants
357
Total Given
$1.8M
Lumina Foundation for Education Inc
INDIANAPOLIS, IN
Assets
$1.5B
Grants
357
Total Given
$30.0M
University of Notre Dame du Lac
NOTRE DAME, IN
Assets
$26.7B
Grants
356
Total Given
$42.0M
Indianapolis Center for Congregations Inc
INDIANAPOLIS, IN
Assets
$62.6M
Grants
336
Total Given
$7.6M
Nina Mason Pulliam Charitable Trust
INDIANAPOLIS, IN
Assets
$441.1M
Grants
328
Total Given
$22.7M
Nicholas H Noyes Jr Memorial
CARMEL, IN
Assets
$133.1M
Grants
284
Total Given
$4.4M
Community Foundation
ELKHART, IN
Assets
$461.3M
Grants
281
Total Given
$25.8M
Welborn Baptist Foundation Inc
EVANSVILLE, IN
Assets
$96.4M
Grants
274
Total Given
$4.0M
Data last updated April 2026. Sourced from IRS Form 990-PF filings.
What could you do with Cardinal Funds Inc on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching Cardinal Funds Inc to a real strategy.