Cardinal Properties
Cardinal Properties, inc. Receives, holds, manages, and disposes of real estate, interests in real estate (including conservation easements), and tangible and intangible personal property for the benefit of ball state university foundation.
Cardinal Properties at a glance
- Total assets
- $5,181,199
- -21.2% vs 2024
- Revenue (2025)
- $1,347,507
- +173.8% vs 2024
- Net investment income (2025)
- $780,829
- -1864.3% vs 2024
- Expenses (2025)
- $578,831
- -18.1% vs 2024
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Cardinal Properties funds
How this funder distributes its grants
Grant Size Distribution
1 grant across all recorded years
The most common grant size was in the $100–250K range: 1 grant of 1 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
How Cardinal Properties gives
- Giving fell 89% from 2020 to 2023. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2023, annual grant giving ranged from $169K (2023) to $1.5M (2020). In 2023 it made 1 grant totaling $169K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Ball State University Foundation Muncie, IN | See Part IV | $169,359 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $5,181,199 | $1,347,507 | $578,831 | — | — | $780,829 |
| 2024 | $6,573,170 | $492,197 | $706,361 | — | — | $-44,258 |
| 2023 | $6,596,729 | $731,471 | $972,517 | $169,359 | 1 | $401 |
| 2022 | $6,897,928 | $343,385 | $1,188,141 | — | — | $-254,314 |
| 2021 | $7,821,616 | $790,993 | $850,862 | — | — | — |
| 2020 | $7,919,065 | $-2,127,613 | $2,205,116 | $1,513,383 | 1 | $-2,733,680 |
| 2019 | $12,354,691 | $4,962,455 | $867,628 | — | — | — |
About Cardinal Properties
Based on IRS filings
Cardinal Properties is a public charity, based in Muncie, IN. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $5.2M in total assets. Net investment income was $781K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Cardinal Properties is led by Randall E Pond, Board President since 2024 (on filings since 2020); none of the 11 officers listed in 2025 report compensation.
Officers on the 2025 filing
Randall E Pond
Board President
Ex-Officio → President, 2021
President → Board President, 2024
On filings since 2020
1 hr/week
No compensation reported
Geoffrey S Mearns
Board Member
On filings since 2019
1 hr/week
No compensation reported
Gregory E. Zimmerman
Board Member
On filings since 2019
1 hr/week
No compensation reported
Kenneth R Briner
Board Vice President
Board Member → Vice President, 2021
Vice President → Board Vice President, 2024
On filings since 2019
1 hr/week
No compensation reported
Sundesh Shah
Board Member
On filings since 2019
1 hr/week
No compensation reported
Alan T Finn
Vice President for Business Affairs & Treasurer
Board Member → Vice President for Business Affairs & Treasurer, 2025
On filings since 2020
1 hr/week
No compensation reported
Jean Kramer Crosby
Board Member
On filings since 2020
4 hrs/week
No compensation reported
Stephen J Wachtmann
Board Secretary & Treasurer
Secretary & Treasurer → Board Secretary & Treasurer, 2024
On filings since 2021
4 hrs/week
No compensation reported
Michael Ray
Executive Officio Board Member
Executive Officio → Executive Officio Board Member, 2024
On filings since 2023
1 hr/week
No compensation reported
William P Cooper
Board Member
On filings since 2024
2 hrs/week
No compensation reported
Sue Hodges Moore
Interim Vice President for Business Affairs & Treasurer
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (14)
- Former: Donald Ray Allen (2022–2024) — Board Member
- Former: Charles V. Sursa (2020–2023) — Board Member
- Former: Marla Templeton (2021–2022) — Executive Officio
- Former: David Mark Helmus (2019–2021) — Board Member
- Former: Bernard Hannon (2019–2020) — Former Board Member
- Former: Mark K. Hardwick (2019–2020) — Vice President
- Former: Jacob Logan Left (2020) — Board Member
- Former: Thomas Heck (2020) — Treasurer
- Former: Tracy Curtis (2020) — Former Board Member
- Former: Anthony Smith (2019) — Ex-Officio
- Former: Charlie Sursa (2019) — President
- Former: Cheri O'Neill (2019) — Former Board Member
- Former: Richard D. Hughes (2019) — Board Member
- Former: Tracy Curtis Left (2019) — Treasurer
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 Cardinal Properties
How large is Cardinal Properties?
Cardinal Properties reported $5.2M in total assets on its 2025 IRS Form 990. Its revenue that year was $1.3M.
Where does Cardinal Properties operate?
Cardinal Properties has awarded grants in Indiana.
What is Cardinal Properties's EIN?
Cardinal Properties's EIN (Employer Identification Number) is 20-1872207. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(5)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS May 6, 2021)
- Updated Form 990 for fiscal year 2023 (received by the IRS March 30, 2024)
- Added Form 990 for fiscal year 2019 (received by the IRS June 5, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS April 29, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Cardinal Properties's focus areas in our free grants database
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Cardinal Properties down — hundreds of funders to go?