Elsie M O'Connell Testamentary Tr

Private foundation · Grantmaker Glenwood, IA EIN: 39-6785837

Elsie M O'Connell Testamentary Tr is a private foundation focused on Education, based in Glenwood, IA. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $781K in total assets. In 2025, it awarded 7 grants totaling $21K. Net investment income was $7K.

Key facts about Elsie M O'Connell Testamentary Tr

In short: Elsie M O'Connell Testamentary Tr gave $21K across 7 grants in 2025 (avg $3K), top state Nebraska. Source: 2025 IRS Form 990-PF.

EIN
39-6785837
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$21,167
Grants made (2025)
7
Average grant
$3,024
Median grant
$2,500
Total assets
$780,673
Primary geography
Nebraska (35% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$781K

-4.5% YoY

Annual Giving

$21K

-27.0% YoY

Grant Count

7

+75.0% YoY

Avg Grant Size

$3K

-58.3% YoY

Under IRS private-foundation payout rules, Elsie M O'Connell Testamentary Tr reported a distributable amount of $42K for 2025 — the minimum it must pay out in qualifying distributions.

How Elsie M O'Connell Testamentary Tr gives

  • Giving fell 40% from 2022 to 2025. Method
  • In 2025 it paid out 96% 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.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

5states

Share of all 7 itemized 2025 grant dollars.

Cities

AmesTucsonLincolnOmahaDecorahIowa CityOrange CityCouncil BluffsGlenwoodSan Luis ObispoSpringfield

Giving Over Time

Total grant dollars and number of grants per year

$0$10K$20K$30K$40K0 grants20203 grants20215 grants20226 grants20234 grants20247 grants2025

From 2021 to 2025, annual grant giving ranged from $17K (2021) to $35K (2022). In 2025 it made 7 grants totaling $21K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 7 recipients in 2025

University of Arizona: $5KUniversity of Arizona$5KUnversity Nebraska Omaha: $5KUnversity Nebraska Omaha$5KIowa State University: $3KIowa State University$3KNorthwestern College: $3KNorthwestern College$3KUniversity Nebraska Lincoln: $3KUniversity Nebraska Lincoln$3KCalifornia Polytechnic State Univer: $2KCalifornia Polytechnic StateUniver$2KMissouri State University: $2KMissouri State University$2K

The largest 2025 recipient was University of Arizona ($5K). Together the top 7 received $21K.

Grant Size Distribution

25 grants across all recorded years

25<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 25 grants of 25 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
University of Arizona Tucson, AZScholarships$5,000
Unversity Nebraska Omaha Omaha, NEScholarships$5,000
Iowa State University Ames, IAScholarships$3,000
Northwestern College Orange City, IAScholarships$2,500
University Nebraska Lincoln Lincoln, NEScholarships$2,500
California Polytechnic State Univer San Luis Obispo, CAScholarships$1,667
Missouri State University Springfield, MOScholarships$1,500

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$50K$100K$150K$200K202020212022202320242025
Metric202520242023
Total Assets$780,673$817,101$855,126
Revenue$15,508$13,332$13,025
Expenses$51,936$51,357$53,411
Qualifying Distributions$40,164$39,782$39,633
Net Investment Income$7,499$5,485$6,098
Distributable Amount$42,042$41,099$38,364

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS November 12, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS April 27, 2022)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS April 26, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS April 11, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 13, 2025)
  6. Updated Form 990-PF for fiscal year 2025 (received by the IRS April 15, 2026)
  7. IRS filings on file for fiscal years 2020–2025

Leadership & Key People

Officers and directors from IRS filings

Elsie M O'Connell Testamentary Tr's 2025 filing lists 4 officers; none of the 4 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Glenwood State Bank

    Trustee

    On filings since 2020

    No compensation reported

  • Grant Dean

    Trustee

    On filings since 2020

    No compensation reported

  • John Dean

    Committee Me

    Committee Member → Committee Me, 2024

    On filings since 2020

    No compensation reported

  • Lindsey Schomaker

    Committee Me

    Committee Member → Committee Me, 2024

    On filings since 2020

    No compensation reported

Former officers (1)
  • Former: Devin Embray (2020–2023) — Committee Member

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.

Frequently asked questions about Elsie M O'Connell Testamentary Tr

How much does Elsie M O'Connell Testamentary Tr give each year?

Elsie M O'Connell Testamentary Tr gave $21K across 7 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $29K across 4 grants.

What is Elsie M O'Connell Testamentary Tr's typical grant size?

Elsie M O'Connell Testamentary Tr's median grant in 2025 was $2,500, and its average grant was $3,024, across 7 grants on its 2025 IRS Form 990-PF.

Where does Elsie M O'Connell Testamentary Tr give grants?

Elsie M O'Connell Testamentary Tr's top state is Nebraska, with 35% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were Iowa (26%) and Arizona (24%).

Does Elsie M O'Connell Testamentary Tr give general operating support?

Not in 2025: none of the 7 grants with a stated purpose on Elsie M O'Connell Testamentary Tr's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarships" (7 grants).

Who are Elsie M O'Connell Testamentary Tr's largest grantees?

Elsie M O'Connell Testamentary Tr's largest 2025 grantees include University of Arizona ($5,000), Unversity Nebraska Omaha ($5,000) and Iowa State University ($3,000), according to its 2025 IRS Form 990-PF. Together they received 61% of its itemized 2025 grant dollars.

How large is Elsie M O'Connell Testamentary Tr?

Elsie M O'Connell Testamentary Tr reported $781K in total assets on its 2025 IRS Form 990-PF. It paid out $40K in qualifying distributions that year, against a required minimum of $42K (roughly 5% of its investment assets).

What is Elsie M O'Connell Testamentary Tr?

Elsie M O'Connell Testamentary Tr is a private foundation focused on Education, based in Glenwood, IA. It holds $781K in total assets as of 2025.

What is Elsie M O'Connell Testamentary Tr's EIN?

Elsie M O'Connell Testamentary Tr's EIN (Employer Identification Number) is 39-6785837. 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.

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