Grace Foundation Inc of Albert Lea
Support of church and ministry
Key facts about Grace Foundation Inc of Albert Lea
In short: Grace Foundation Inc of Albert Lea gave $23K across 1 grant in 2025 (avg $23K), mostly in Minnesota. Source: 2025 IRS Form 990.
- EIN
- 41-1448611
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $22,646
- Grants made (2025)
- 1
- Average grant
- $22,646
- Median grant
- $22,646
- Total assets
- $2,109,488
- Primary geography
- Minnesota (100% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$2.1M
+10.5% YoY
Annual Giving
$23K
-40.9% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$23K
-40.9% YoY
How Grace Foundation Inc of Albert Lea gives
- Giving fell 24% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
About Grace Foundation Inc of Albert Lea
Based on IRS filings
Grace Foundation Inc of Albert Lea is a public charity, based in Albert Lea, MN. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $2.1M in total assets. In 2025, it awarded 1 grant totaling $23K. Net investment income was $19K.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $23K (2025) to $84K (2020). In 2025 it made 1 grant totaling $23K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Grace Lutheran Church ($23K).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was under $50K: 5 grants of 5 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Grace Lutheran Church Albert Lea, MN | — | $22,646 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $2,109,488 | $1,909,200 | $1,601,286 |
| Revenue | $50,680 | $50,483 | $38,300 |
| Expenses | $26,336 | $41,297 | $41,532 |
| Net Investment Income | $19,220 | $22,904 | $12,220 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS August 20, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS September 9, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS June 8, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS April 11, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS September 23, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS July 23, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS August 24, 2026)
Leadership & Key People
Officers and directors from IRS filings
Grace Foundation Inc of Albert Lea is led by Bruce Olson, Chair since 2022 (on filings since 2019); none of the 7 officers listed in 2025 report compensation.
Officers on the 2025 filing
Bruce Olson
Chair
Vice Chairman → Chair, 2022
On filings since 2019
No compensation reported
Roy Page
Director
On filings since 2021
No compensation reported
Jerry Dahl
Director
On filings since 2022
No compensation reported
Paul Andersen
Director
On filings since 2022
No compensation reported
Dale Buendorf
Secretary
Director → Secretary, 2022
On filings since 2019
No compensation reported
Karen Hendrickson
Vice Chair
Director → Vice Chair, 2022
On filings since 2020
No compensation reported
Steve Schultz
Board Treasurer
Treasurer → Board Treasurer, 2022
On filings since 2020
No compensation reported
Former officers (5)
- Former: Matt Kermes (2019–2021) — Chairman
- Former: Steve Bracker (2019–2021) — Secretary
- Former: Mark Grossklaus (2019–2020) — Director
- Former: Dale Elvebak (2019) — Treasurer
- Former: Kathy Diaz (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 Grace Foundation Inc of Albert Lea
How much does Grace Foundation Inc of Albert Lea give each year?
Grace Foundation Inc of Albert Lea gave $23K across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $38K across 1 grant.
How large is Grace Foundation Inc of Albert Lea?
Grace Foundation Inc of Albert Lea reported $2.1M in total assets on its 2025 IRS Form 990. Its revenue that year was $51K.
Where does Grace Foundation Inc of Albert Lea operate?
Grace Foundation Inc of Albert Lea has awarded grants in Minnesota.
What is Grace Foundation Inc of Albert Lea's EIN?
Grace Foundation Inc of Albert Lea's EIN (Employer Identification Number) is 41-1448611. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Here's the math on researching Grace Foundation Inc of Albert Lea by hand.
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