Hubbell-Waterman Fndn
Hubbell-Waterman Foundation is a private foundation based in Davenport, Iowa. It invests in the Quad Cities community, funding nonprofit organizations serving Scott County, Iowa, and Rock Island County, Illinois, in the areas of culture and the arts, education, and social welfare.
Hubbell-Waterman Fndn at a glance
In short: Hubbell-Waterman Fndn gave $1.9M across 40 grants in 2024 (avg $47K), mostly in Illinois. 30% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $1,874,594
- -7.6% vs 2023
- Grants made (2024)
- 40
- +0.0% vs 2023
- Average grant
- $46,865
- -7.6% vs 2023
- Median grant
- $20,000
- Total assets
- $38,589,699
- +0.1% vs 2023
- New grantees (estimate)
- 30% first-time grantees (12 of 40, 2024)
- Primary geography
- Illinois (68% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Hubbell-Waterman Fndn
- How to Apply
-
Its application process is online. Organizations applying for the first time through the grant portal must register; previously applying organizations can log in to access past applications and begin a new one. Supporting documents must be submitted as .doc, .docx, or .pdf files. Late or incomplete applications are not accepted and may not be resubmitted until the following year’s cycle.
- Review Cycle
- Applications are due August 15 each year. The trustees’ annual meeting is in the third week of October, applicants are informed of decisions by November 15, and grant payments are made the following January.
- Deadline
- Applications are due August 15 each year.
- Contact
Mailing address: 220 N Main Street 600, Davenport, IA 52801
Phone: (563) 324-3246
Website: https://www.hubbellwaterman.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Hubbell-Waterman Fndn
Who Hubbell-Waterman Fndn funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Quad Cities Golf Classic Charitable ($852K). Together the top 10 received $1.4M.
Grant Size Distribution
174 grants across all recorded years
The most common grant size was under $50K: 139 grants of 174 (80%).
Geographic Focus
Where this funder awards grants
The foundation defines the Quad Cities for its grantmaking as Scott County, Iowa, and Rock Island County, Illinois. Its 2024 grant dollars were distributed 68% to recipients in Illinois and 32% to recipients in Iowa.
Grant Distribution by State
Share of 2024 grant dollars across all 40 itemized grants.
Cities
Is Hubbell-Waterman Fndn open to new grantees?
30%
first-time grantees, 2024
In 2024, 12 of 40 grantees (30%) were first-time recipients. First grants averaged $21K; repeat grants $58K. How we count
Medians: $15K first-time, $20K repeat.
- 63% of 2024 grantees were also funded in 2023. Method
- Giving grew 25% from 2021 to 2024. Method
- In 2024 it paid out 92% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $1.5M (2021) to $2.0M (2023). In 2024 it made 40 grants totaling $1.9M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Quad Cities Golf Classic Charitable East Moline, IL | General Operating | $852,000 |
| Putnam Museum and Sciences Center Davenport, IA | General Operating | $140,000 |
| Two Rivers YMCA Inc Moline, IL | General Operating | $75,000 |
| Vera French Community Mental Health Center Davenport, IA | General Operating | $75,000 |
| YWCA Rock Island, IL | General Operating | $65,000 |
| Iowa Legal Aid Davenport, IA | General Operating | $60,000 |
| Together Making a Better Community Davenport, IA | General Operating | $50,000 |
| World Relief Quad Cities Moline, IL | General Operating | $50,000 |
| Friends of the Davenport Public Library Davenport, IA | General Operating | $37,500 |
| Quad City Symphony Orchestra Association Davenport, IA | General Operating | $25,000 |
Ready to take the next step with Hubbell-Waterman Fndn?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $38,589,699 | $2,348,844 | $2,295,533 | $1,874,594 | 40 | $1,926,274 | $1,868,252 | $2,098,276 |
| 2023 | $38,535,242 | $11,812,952 | $2,222,392 | $2,029,211 | 40 | $2,049,538 | $11,584,503 | $1,773,501 |
| 2022 | $28,945,718 | $1,659,058 | $2,266,840 | $1,963,299 | 35 | $2,032,845 | $1,213,157 | $1,893,746 |
| 2021 | $29,792,175 | $5,306,730 | $1,867,354 | $1,498,946 | 32 | $1,601,752 | $4,677,940 | $2,057,639 |
| 2020 | $26,349,192 | $370,093 | $1,881,232 | $1,580,250 | 27 | — | $383,942 | $1,715,166 |
Under IRS private-foundation payout rules, Hubbell-Waterman Fndn reported a distributable amount of $2.1M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation’s mission is to invest in the Quad Cities community through funding for capital construction projects, program and initiative grants, and operational expenses.
Its three long-term focus areas are:
- Culture and the arts: Visual and performing arts, landmark cultural institutions, and new or innovative community programs.
- Education: Pre-K–12 after-school and summer programs, creative learning, life skills and career training, sustainability-focused environmental education, and mental health programs for students and families.
- Social welfare: Services related to at-risk and low-income families, food and nutrition, housing security, immigrant and refugee communities, and physical and mental health.
The foundation supports eligible 501(c)(3) nonprofit organizations serving Scott County and Rock Island County. Its grants may fund capital campaigns and acquisitions, including construction and renovations, and multi-year program grants of up to three years. Operational or program grants following completion of a capital campaign may also run for up to three years.
Examples of grantees’ work include the Putnam Museum and Science Center, which describes its mission as preserving regional treasures and providing immersive education in history and science; Vera French Community Mental Health, which says it advances mental health and accessible healthy-living solutions; and Iowa Legal Aid, which describes its work as providing free legal help to protect housing, safety, and income. These are the grantees’ descriptions of their own missions.
Grantmaking
In 2024, the foundation reported 40 grants totaling $1,874,594. Awards ranged from $2,500 to $852,000, with a median grant of $20,000. The largest award was $852,000 to Quad Cities Golf Classic Charitable for general operating support. Other notable 2024 awards included $140,000 to Putnam Museum and Science Center, $75,000 each to Two Rivers YMCA and Vera French Community Mental Health Center, $65,000 to YWCA, and $60,000 to Iowa Legal Aid. The listed awards were for general operating support.
The foundation does not fund debt retirement; membership or affiliation campaigns, dinners, or special events; conferences, symposia, or related travel; grants furthering political or religious doctrine; grants to individuals; individual scholarships or sponsorships; medical, scientific, or academic research; endowments; or organizations that discriminate on specified grounds, except when serving a historically disadvantaged group.
Leadership & Key People
Leadership team and compensation from IRS filings
The officers and directors listed on the 2024 filing are C. Dana Waterman III, trustee and secretary; Robert V.P. Waterman Jr., trustee and board chair; David W. Lundy Jr., trustee and board vice chair and government committee member; Christopher M. Berglund, trustee, treasurer, and finance committee member; Sari W. Blum, trustee and grants committee chair; Meghan W. Baker, trustee; Lynn W. Blum, trustee; Leslie W. Bryan, trustee; Melissa B. Jack, trustee; and Peter L.L. Lundy, trustee.
Hubbell-Waterman Fndn is led by Robert V. P. Waterman Jr., Trustee & Board Chair since 2023 (on filings since 2021); none of the 13 officers listed in 2024 report compensation.
Officers on the 2024 filing
Robert V. P. Waterman Jr.
Trustee & Board Chair
Individual Co-Trustee → Trustee & Board Chair, 2023
On filings since 2021
2.5 hrs/week
No compensation reported
Sari W. Blum
Trustee & Grants Committee Chair
On filings since 2023
2.5 hrs/week
No compensation reported
C. Dana Waterman III
Trustee & Secretary
Individual Co-Trustee → Trustee & Secretary, 2023
On filings since 2021
5 hrs/week
No compensation reported
Christopher M. Berglund
Trustee, Treasurer & Finance Committee
Individual Co-Trustee → Trustee & Treasurer, 2023
Trustee & Treasurer → Trustee, Treasurer & Finance Committee, 2024
On filings since 2021
2 hrs/week
No compensation reported
David W. Lundy Jr.
Trustee, Board Vice Chair & Gov Committee
Individual Co-Trustee → Trustee & Board Vice Chair, 2023
Trustee & Board Vice Chair → Trustee, Board Vice Chair & Gov Committee, 2024
On filings since 2021
2 hrs/week
No compensation reported
Jennifer W. Waterman
Trustee
Individual Co-Trustee → Trustee, 2023
On filings since 2021
1 hr/week
No compensation reported
Lynn W. Blum
Trustee
Individual Co-Trustee → Trustee, 2023
On filings since 2021
1 hr/week
No compensation reported
Meghan W. Baker
Trustee
Individual Co-Trustee → Trustee, 2023
On filings since 2021
1 hr/week
No compensation reported
Melissa B. Jack
Trustee
Individual Co-Trustee → Trustee, 2023
On filings since 2021
1 hr/week
No compensation reported
Peter L. L. Lundy
Trustee
Individual Co-Trustee → Trustee, 2023
On filings since 2021
1 hr/week
No compensation reported
Courtney B. Stiefel
Trustee
On filings since 2023
1 hr/week
No compensation reported
Larned A. Waterman Jr.
Trustee
On filings since 2023
1 hr/week
No compensation reported
Leslie W. Bryan
Trustee
On filings since 2023
1 hr/week
No compensation reported
Former officers (4)
- Former: Wells Fargo Bank NA (2022) — Trustee
- Former: Wells Fargo Bank N A (2020–2021) — Trustee
- Former: Lamed A. Waterman Jr. (2021) — Individual Co-Trustee
- Former: Leslie Waterman Banks (2021) — Individual Co-Trustee
Data from IRS Form 990 filings, 2020–2024. "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 Hubbell-Waterman Fndn
How much does Hubbell-Waterman Fndn give each year?
Hubbell-Waterman Fndn gave $1.9M across 40 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $2.0M across 40 grants.
What is Hubbell-Waterman Fndn's typical grant size?
Hubbell-Waterman Fndn's median grant in 2024 was $20,000, and its average grant was $46,865, across 40 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Hubbell-Waterman Fndn that year got $21K on average.
Where does Hubbell-Waterman Fndn give grants?
Hubbell-Waterman Fndn gives mostly in Illinois: 68% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Iowa (32%). The most frequent recipient cities were Davenport, IA (17 grants), Moline, IL (9 grants), Rock Island, IL (7 grants) and East Moline, IL (3 grants).
Does Hubbell-Waterman Fndn give general operating support?
Yes: 100% of Hubbell-Waterman Fndn's 2024 grants with a stated purpose (40 of 40) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Hubbell-Waterman Fndn's largest grantees?
Hubbell-Waterman Fndn's largest 2024 grantees include Quad Cities Golf Classic Charitable ($852,000), Putnam Museum and Sciences Center ($140,000) and Two Rivers YMCA Inc ($75,000), according to its 2024 IRS Form 990-PF. Together they received 57% of its itemized 2024 grant dollars.
How large is Hubbell-Waterman Fndn?
Hubbell-Waterman Fndn reported $38.6M in total assets on its 2024 IRS Form 990-PF. It paid out $1.9M in qualifying distributions that year, against a required minimum of $2.1M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Hubbell-Waterman Fndn fund?
The foundation’s mission is to invest in the Quad Cities community through funding for capital construction projects, program and initiative grants, and operational expenses. See mission & focus areas ↑
How do I apply for a grant from Hubbell-Waterman Fndn?
Its application process is online. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Hubbell-Waterman Fndn's EIN?
Hubbell-Waterman Fndn's EIN (Employer Identification Number) is 42-6126467. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 13, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 13, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 15, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 17, 2025)
- IRS filings on file for fiscal years 2020–2024
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Funders that support many of the same organizations
Quad Cities Community Foundation
Bettendorf, IA
Quad Cities Community Foundation funds nonprofit operations and programs across areas including education, health, arts and culture, community development, youth, and the environment, primarily in Rock Island County, Illinois, and Scott County, Iowa, with some service to surrounding counties. Its 2024 grants had a median of $15,000; its Operations and Programs Grants program lists requests of $5,000–$20,000.
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Doris & Victor Day Foundation Inc
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The foundation funds community services in the Illinois and Iowa Quad Cities, including shelter and emergency support, youth learning, health care, refugee services, and programs for seniors; religious programs are excluded. Its 2026 grants ranged from $24 to $154,000, with a median of $3,500. A 2025 filing says an application is available online and lists an annual May 1 deadline; it does not state whether unsolicited requests are accepted.
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Harold R Bechtel Charitable
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Harold R Bechtel Charitable supports capital projects and programs in community facilities, youth services, education, arts, and housing, with most giving focused on Scott County, Iowa. Its 2025 grants ranged from $4,000 to $1,015,000, with a median of about $25,600. It does not restrict giving to preselected organizations; contact the trustee for application forms, which are provided upon request.
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United Way Quad Cities
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United Way Quad Cities funds nonprofit programs focused on education, financial security and health for residents of Scott County, Iowa, and Rock Island County, Illinois. In 2025, its 62 grants ranged from $5,011 to $263,476, with a median of $25,773. The current Community Impact Grants listing gives a January 13, 2027 deadline, but does not state whether unsolicited requests are accepted.
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Quad Cities Golf Classic Charitable Foundation
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The foundation regrants funds raised through the John Deere Classic to nonprofits working across community, health, education, arts, and other charitable areas, primarily in Iowa and Illinois; Birdies for Charity also serves eligible nonprofits within 125 miles of Silvis, Illinois. In 2025, grants ranged from $5,330 to $1,589,007, with a median of $24,133. The information provided does not state whether it accepts unsolicited grant requests.
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Marie H Bechtel Charitable
Davenport, IA
The foundation funds a broad range of community needs, including arts, housing, hunger relief, youth programs, and health and human services, primarily in Iowa, with some giving in Illinois and Michigan and part of its trust restricted to Scott County, Iowa. In 2025, grants ranged from $2,500 to $375,000, with a median of $35,000. It does not restrict giving to preselected organizations; applicants may request forms and materials from the trustee, and no deadline is listed.
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$48.4M
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Total Given
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Cite this profile
Grantable. (2026). Hubbell-Waterman Fndn funder profile. GrantGraph. Retrieved October 16, 2026, from https://grantable.co/funders/hubbell-waterman-fndn-morg_275cd5ce43554ebdabf5f403ec3c4b97
BibTeX
@misc{grantable_426126467_2026,
author = {{Grantable}},
title = {{Hubbell-Waterman Fndn funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/hubbell-waterman-fndn-morg_275cd5ce43554ebdabf5f403ec3c4b97},
note = {Accessed 2026-10-16. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Hubbell-Waterman Fndn'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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