Carlson Music Scholarship Fund
Carlson Music Scholarship Fund is a private foundation focused on Education, based in Billings, MT. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $560K in total assets. In 2025, it awarded 4 grants totaling $25K. Net investment income was $59K.
Carlson Music Scholarship Fund at a glance
In short: Carlson Music Scholarship Fund gave $25K across 4 grants in 2025 (avg $6K), mostly in Montana. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $25,000
- +0.0% vs 2024
- Grants made (2025)
- 4
- +0.0% vs 2024
- Average grant
- $6,250
- +0.0% vs 2024
- Median grant
- $7,500
- Total assets
- $560,462
- +5.7% vs 2024
- Primary geography
- Montana (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Carlson Music Scholarship Fund funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was University Of Providence Endowment ($8K). Together the top 3 received $18K.
Organizations only. It also paid 1 individual scholarship ($7,500), which are not listed by name.
Grant Size Distribution
20 grants across all recorded years
The most common grant size was under $50K: 20 grants of 20 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 4 itemized grants.
States
Cities
How Carlson Music Scholarship Fund gives
- Giving fell 24% from 2022 to 2025. Method
- In 2025 it paid out 91% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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 2020 to 2025, annual grant giving ranged from $25K (2024) to $33K (2022). In 2025 it made 4 grants totaling $25K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University Of Providence Endowment Great Falls, MT | Educational Scholarship | $7,500 |
| University Of Montana Foundation Missoula, MT | Educational Scholarship | $7,500 |
| 1 individual scholarship Recipients not named | — | $7,500 |
| Great Falls Symphony Great Falls, MT | Educational Scholarship | $2,500 |
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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 | $560,462 | $65,969 | $35,619 | $25,000 | 4 | $28,486 | $59,238 | $31,302 |
| 2024 | $530,209 | $31,781 | $35,011 | $25,000 | 4 | $28,220 | $25,362 | $30,743 |
| 2023 | $533,385 | $25,534 | $38,673 | $30,000 | 4 | $32,990 | $19,500 | $28,626 |
| 2022 | $546,541 | $4,315 | $42,957 | $33,000 | 4 | $36,038 | $9,311 | $29,780 |
| 2021 | $585,243 | $49,051 | $40,194 | $30,000 | 4 | $33,254 | $42,252 | $34,403 |
| 2020 | $576,449 | $28,591 | $39,719 | $30,000 | 4 | — | $22,797 | $30,498 |
Under IRS private-foundation payout rules, Carlson Music Scholarship Fund reported a distributable amount of $31K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Carlson Music Scholarship Fund's only listed officer is First Interstate Bank, Trustee on every filing since 2020 (compensated).
Officers on the 2025 filing
First Interstate Bank
Trustee
On filings since 2020
5 hrs/week
$7K (2020) → $8K (2025)
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $8K, to First Interstate Bank (Trustee).
Frequently asked questions about Carlson Music Scholarship Fund
How much does Carlson Music Scholarship Fund give each year?
Carlson Music Scholarship Fund gave $25K across 4 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $25K across 4 grants.
What is Carlson Music Scholarship Fund's typical grant size?
Carlson Music Scholarship Fund's median grant in 2025 was $7,500, and its average grant was $6,250, across 4 grants on its 2025 IRS Form 990-PF.
Where does Carlson Music Scholarship Fund give grants?
Carlson Music Scholarship Fund gives mostly in Montana: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Great Falls, MT (2 grants).
Does Carlson Music Scholarship Fund give general operating support?
Not in 2025: none of the 4 grants with a stated purpose on Carlson Music Scholarship Fund's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Educational Scholarship" (4 grants).
How large is Carlson Music Scholarship Fund?
Carlson Music Scholarship Fund reported $560K in total assets on its 2025 IRS Form 990-PF. It paid out $28K in qualifying distributions that year, against a required minimum of $31K (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 is Carlson Music Scholarship Fund?
Carlson Music Scholarship Fund is a private foundation focused on Education, based in Billings, MT. It holds $560K in total assets as of 2025.
What is Carlson Music Scholarship Fund's EIN?
Carlson Music Scholarship Fund's EIN (Employer Identification Number) is 48-1276104. 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.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 11, 2026)
- IRS filings on file for fiscal years 2020–2024
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