Heartfelt Scholarship Foundation Inc
Heartfelt Scholarship Foundation Inc is a private foundation focused on Education, based in Montrose, CO. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $14K in total assets. In 2025, it awarded 5 grants totaling $20K. Net investment income was $1.
Heartfelt Scholarship Foundation Inc at a glance
In short: Heartfelt Scholarship Foundation Inc gave $20K across 5 grants in 2025 (avg $4K), top state South Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $19,552
- +78.2% vs 2024
- Grants made (2025)
- 5
- -28.6% vs 2024
- Average grant
- $3,910
- +149.5% vs 2024
- Median grant
- $4,000
- Total assets
- $14,183
- +1.6% vs 2024
- Primary geography
- South Carolina (34% 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 Heartfelt Scholarship Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2025
The largest 2025 recipient was Bob Jones University ($7K). Together the top 5 received $20K.
Grant Size Distribution
34 grants across all recorded years
The most common grant size was under $50K: 34 grants of 34 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
Cities
How Heartfelt Scholarship Foundation Inc gives
- Giving fell 34% from 2022 to 2025. 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 $11K (2024) to $51K (2019). In 2025 it made 5 grants totaling $20K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Bob Jones University Greenville, SC | Scholarship | $6,600 |
| Maranatha Baptist University Watertown, WI | Scholarship | $6,000 |
| Pensacola Christian Collage Pensacola, FL | Scholarship | $4,000 |
| International Baptist College Semin Chandler, AZ | Scholarship | $2,000 |
| Ambassador Baptist College Lattimore, NC | Scholarship | $952 |
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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 |
|---|---|---|---|---|---|---|---|
| 2025 | $14,183 | $20,001 | $19,782 | $19,552 | 5 | $19,782 | $1 |
| 2024 | $13,964 | $15,101 | $11,221 | $10,971 | 7 | $10,971 | $1 |
| 2023 | $10,084 | $25,064 | $27,956 | $27,610 | 8 | $27,610 | — |
| 2022 | $12,977 | $25,071 | $29,862 | $29,626 | 7 | $29,626 | $1 |
| 2021 | $17,767 | $29,690 | $26,459 | $26,190 | 7 | $26,190 | $1 |
| 2020 | $14,536 | $26,207 | $28,392 | $28,178 | 7 | — | — |
| 2019 | $16,721 | $42,854 | $51,687 | $51,473 | 5 | — | $1 |
Leadership & Key People
Officers and directors from IRS filings
Heartfelt Scholarship Foundation Inc is led by Hagle Summers, Chair on every filing since 2019; none of the 5 officers listed in 2025 report compensation.
Officers on the 2025 filing
Hagle Summers
Chair
On filings since 2019
No compensation reported
Jim Welch
Director
On filings since 2019
No compensation reported
Rachael Spencer
Director
On filings since 2019
No compensation reported
Jeremy Spencer
Secretary & Treasurer
Secretary → Treasurer, 2020
Treasurer → Secretary & Treasurer, 2023
On filings since 2019
No compensation reported
Linda Summers
Vice Chair
On filings since 2019
No compensation reported
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 Heartfelt Scholarship Foundation Inc
How much does Heartfelt Scholarship Foundation Inc give each year?
Heartfelt Scholarship Foundation Inc gave $20K across 5 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $11K across 7 grants.
What is Heartfelt Scholarship Foundation Inc's typical grant size?
Heartfelt Scholarship Foundation Inc's median grant in 2025 was $4,000, and its average grant was $3,910, across 5 grants on its 2025 IRS Form 990-PF.
Where does Heartfelt Scholarship Foundation Inc give grants?
Heartfelt Scholarship Foundation Inc's top state is South Carolina, with 34% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were Wisconsin (31%) and Florida (20%).
Does Heartfelt Scholarship Foundation Inc give general operating support?
Not in 2025: none of the 5 grants with a stated purpose on Heartfelt Scholarship Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarship" (5 grants).
Who are Heartfelt Scholarship Foundation Inc's largest grantees?
Heartfelt Scholarship Foundation Inc's largest 2025 grantees include Bob Jones University ($6,600), Maranatha Baptist University ($6,000) and Pensacola Christian Collage ($4,000), according to its 2025 IRS Form 990-PF. Together they received 85% of its itemized 2025 grant dollars.
How large is Heartfelt Scholarship Foundation Inc?
Heartfelt Scholarship Foundation Inc reported $14K in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $20K.
What is Heartfelt Scholarship Foundation Inc?
Heartfelt Scholarship Foundation Inc is a private foundation focused on Education, based in Montrose, CO. It holds $14K in total assets as of 2025.
What is Heartfelt Scholarship Foundation Inc's EIN?
Heartfelt Scholarship Foundation Inc's EIN (Employer Identification Number) is 47-1648023. 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 5, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS October 12, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS March 3, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS March 13, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS June 26, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 21, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 20, 2026)
- IRS filings on file for fiscal years 2019–2024
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