Charles & Florence Phelps Trust
Charles & Florence Phelps Trust is a private foundation, based in Eagan, MN. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $4.9M in total assets. In 2025, it awarded 3 grants totaling $346K. Net investment income was $309K.
Charles & Florence Phelps Trust at a glance
In short: Charles & Florence Phelps Trust gave $346K across 3 grants in 2025 (avg $115K), mostly in Iowa. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $346,072
- +7.1% vs 2024
- Grants made (2025)
- 3
- +0.0% vs 2024
- Average grant
- $115,357
- +7.1% vs 2024
- Median grant
- $86,518
- Total assets
- $4,941,199
- -0.8% vs 2024
- Primary geography
- Iowa (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 Charles & Florence Phelps Trust funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was Christ Episcopal Church ($173K). Together the top 3 received $346K.
Grant Size Distribution
15 grants across all recorded years
The most common grant size was in the $50–100K range: 10 grants of 15 (67%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
Cities
How Charles & Florence Phelps Trust gives
- Giving held roughly steady from 2022 to 2025 (+19%). Method
- In 2025 it paid out 105% 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 $275K (2019) to $355K (2023). In 2025 it made 3 grants totaling $346K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Christ Episcopal Church Burlington, IA | General Operating | $173,036 |
| F Albert Klein Trust West Burlington, IA | General Operating | $86,518 |
| DM County Historical Society Burlington, IA | General Operating | $86,518 |
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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 | $4,941,199 | $380,803 | $420,479 | $346,072 | 3 | $354,151 | $308,662 | $336,038 |
| 2024 | $4,982,013 | $303,711 | $394,336 | $323,105 | 3 | $331,038 | $240,094 | $354,005 |
| 2023 | $5,075,118 | $234,560 | $426,098 | $354,888 | 3 | $362,457 | $172,294 | $330,674 |
| 2022 | $5,270,612 | $426,170 | $362,443 | $290,728 | 3 | $298,266 | $364,809 | $362,427 |
| 2021 | $5,207,444 | $401,155 | $372,342 | $307,257 | 3 | $314,192 | $340,885 | $297,662 |
| 2020 | $5,168,571 | $139,847 | $381,464 | $321,051 | 3 | — | $83,097 | $313,786 |
| 2019 | $5,420,344 | $229,262 | $336,911 | $274,872 | 3 | — | $170,633 | $327,610 |
Under IRS private-foundation payout rules, Charles & Florence Phelps Trust reported a distributable amount of $336K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Charles & Florence Phelps Trust's only listed officer is US Bank N A, Trustee on every filing since 2019 (compensated).
Officers on the 2025 filing
US Bank N A
Trustee
On filings since 2019
1 hr/week
$58K (2019) → $66K (2025)
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $66K, to US Bank N a (Trustee).
Frequently asked questions about Charles & Florence Phelps Trust
How much does Charles & Florence Phelps Trust give each year?
Charles & Florence Phelps Trust gave $346K across 3 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $323K across 3 grants.
What is Charles & Florence Phelps Trust's typical grant size?
Charles & Florence Phelps Trust's median grant in 2025 was $86,518, and its average grant was $115,357, across 3 grants on its 2025 IRS Form 990-PF.
Where does Charles & Florence Phelps Trust give grants?
Charles & Florence Phelps Trust gives mostly in Iowa: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Burlington, IA (2 grants).
Does Charles & Florence Phelps Trust give general operating support?
Yes: 100% of Charles & Florence Phelps Trust's 2025 grants with a stated purpose (3 of 3) were for general or operating support, per its 2025 IRS Form 990-PF.
How large is Charles & Florence Phelps Trust?
Charles & Florence Phelps Trust reported $4.9M in total assets on its 2025 IRS Form 990-PF. It paid out $354K in qualifying distributions that year, against a required minimum of $336K (roughly 5% of its investment assets).
What is Charles & Florence Phelps Trust's EIN?
Charles & Florence Phelps Trust's EIN (Employer Identification Number) is 42-6481677. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated 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 12, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 10, 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 5, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 9, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 5, 2026)
- IRS filings on file for fiscal years 2019–2024
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