Frank Pierce Trust
Frank Pierce Trust is a private foundation, based in Marshalltown, IA. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $3.0M in total assets. In 2025, it made $678K in qualifying distributions. Net investment income was $63.
Frank Pierce Trust at a glance
- Total assets
- $3,033,290
- +0.4% vs 2024
- Revenue (2025)
- $65,962
- -16.7% vs 2024
- Qualifying distributions (2025)
- $678,323
- +20.3% vs 2024
- Expenses (2025)
- $52,473
- +19.6% vs 2024
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|
| 2025 | $3,033,290 | $65,962 | $52,473 | $678,323 | $63 | $347,029 |
| 2024 | $3,019,798 | $79,171 | $43,860 | $563,959 | — | $321,491 |
| 2023 | $2,984,493 | $92,240 | $50,393 | $438,257 | $15,751 | $312,930 |
| 2022 | $2,942,643 | $59,824 | $34,082 | $329,721 | $4,863 | $308,019 |
| 2021 | $2,916,902 | $57,470 | $77,113 | $298,319 | $3,340 | $354,585 |
| 2020 | $2,936,545 | $59,550 | $59,079 | — | $6,935 | $284,664 |
Under IRS private-foundation payout rules, Frank Pierce Trust reported a distributable amount of $347K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Frank Pierce Trust is led by Sean Heitmann, Chairperson on every filing since 2021; none of the 5 officers listed in 2025 report compensation.
Officers on the 2025 filing
Sean Heitmann
Chairperson
On filings since 2021
No compensation reported
Erin McGregor
Trustee
New on the 2025 filing
No compensation reported
Mike Ladehoff
Trustee
New on the 2025 filing
No compensation reported
James Hunt
Vice Chairman
Trustee → Vice Chairman, 2025
On filings since 2020
No compensation reported
Robert Thomas
Treasurer
On filings since 2020
No compensation reported
Former officers (7)
- Former: Joel Greer (2020–2024) — Vice Chairman
- Former: Julie Hitchins (2024) — Trustee
- Former: Linda Havelka (2023) — Trustee
- Former: Ric Anderson (2022) — Trustee
- Former: Thomas McCoy (2021) — Trustee
- Former: Bea Niblock (2020) — Chairman
- Former: Mary Giese (2020) — Trustee
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 Frank Pierce Trust
How large is Frank Pierce Trust?
Frank Pierce Trust reported $3.0M in total assets on its 2025 IRS Form 990-PF. It paid out $678K in qualifying distributions that year, against a required minimum of $347K (roughly 5% of its investment assets).
What is Frank Pierce Trust's EIN?
Frank Pierce Trust's EIN (Employer Identification Number) is 42-0737535. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 7, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS April 25, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 10, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 9, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 2, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 4, 2026)
- IRS filings on file for fiscal years 2020–2024
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