Free Enterprise Foundation Inc
The organization's primary exempt purpose is to provide junior achievement of the heartland, inc. Endowment giving opportunities that will add stability and long-range growth.
Free Enterprise Foundation Inc at a glance
In short: Free Enterprise Foundation Inc gave $855K across 1 grant in 2025 (avg $855K), mostly in Illinois. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $855,327
- +165.2% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $855,327
- +165.2% vs 2024
- Median grant
- $855,327
- Total assets
- $4,069,080
- -13.0% vs 2024
- Primary geography
- Illinois (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Free Enterprise Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Junior Achievement of the Heartland ($855K).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $100–250K range: 2 grants of 5 (40%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How Free Enterprise Foundation Inc gives
- Giving grew 56% from 2022 to 2025. 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 2019 to 2025, annual grant giving ranged from $110K (2023) to $855K (2025). In 2025 it made 1 grant totaling $855K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Junior Achievement of the Heartland Moline, IL | Program Assistance and New Facility Construction | $855,327 |
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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 | $4,069,080 | $116,409 | $863,327 | $855,327 | 1 | $111,195 |
| 2024 | $4,675,496 | $187,175 | $331,439 | $322,581 | 1 | $117,804 |
| 2023 | $4,038,701 | $429,221 | $122,599 | $109,964 | 1 | $123,206 |
| 2022 | $3,473,914 | $356,105 | $567,432 | $548,145 | 1 | $139,752 |
| 2021 | $4,192,178 | $479,983 | $141,801 | $113,223 | 1 | $129,633 |
| 2019 | $2,595,128 | $1,074,345 | $255,649 | $251,211 | 1 | $71,870 |
About Free Enterprise Foundation Inc
Based on IRS filings
Free Enterprise Foundation Inc is a public charity focused on Youth Development, based in Moline, IL. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $4.1M in total assets. In 2025, it awarded 1 grant totaling $855K. Net investment income was $111K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Free Enterprise Foundation Inc is led by Sheila Volrath, Chair on every filing since 2021; none of the 6 officers listed in 2025 report compensation.
Officers on the 2025 filing
Sheila Volrath
Chair
On filings since 2021
1 hr/week
No compensation reported
Lance Heuer
Director
Chair → Director, 2021
On filings since 2019
1 hr/week
No compensation reported
Ryan Weber
Director
On filings since 2019
1 hr/week
No compensation reported
Tom Victor
Director
On filings since 2021
1 hr/week
No compensation reported
James Dougal Nelson
Secretary
Secretary → Secetary, 2024
Secetary → Secretary, 2025
On filings since 2019
1 hr/week
No compensation reported
Jim Watson
Vice Chair
On filings since 2019
1 hr/week
No compensation reported
Former officers (3)
- Former: Glenn Medhus (2019–2022) — Director
- Former: Peter Benson (2019) — Director
- Former: Shelia Volrath (2019) — Director
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 Free Enterprise Foundation Inc
How much does Free Enterprise Foundation Inc give each year?
Free Enterprise Foundation Inc gave $855K across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $323K across 1 grant.
How large is Free Enterprise Foundation Inc?
Free Enterprise Foundation Inc reported $4.1M in total assets on its 2025 IRS Form 990. Its revenue that year was $116K.
What is Free Enterprise Foundation Inc?
Free Enterprise Foundation Inc is a public charity focused on Youth Development, based in Moline, IL. It holds $4.1M in total assets as of 2025.
Where does Free Enterprise Foundation Inc operate?
Free Enterprise Foundation Inc has awarded grants in Illinois.
What is Free Enterprise Foundation Inc's EIN?
Free Enterprise Foundation Inc's EIN (Employer Identification Number) is 36-4439179. 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
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS February 18, 2020)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 10, 2021)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 8, 2022)
- Updated Form 990 for fiscal year 2023 (received by the IRS January 31, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 12, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 14, 2026)
- IRS filings on file for fiscal years 2019–2024
Live grants for the work Free Enterprise Foundation Inc funds
Youth Development Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Free Enterprise Foundation Inc's focus areas in our free grants database
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Figures come from Free Enterprise Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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