Iw & Carrie M Carpenter Scholarship

Private foundation · Grantmaker Milwaukee, WI EIN: 47-0661090
Religion

Iw & Carrie M Carpenter Scholarship is a private foundation focused on Religion, based in Milwaukee, WI. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $509K in total assets. In 2025, it awarded 9 grants totaling $19K. Net investment income was $30K.

Key facts about Iw & Carrie M Carpenter Scholarship

In short: Iw & Carrie M Carpenter Scholarship gave $19K across 9 grants in 2025 (avg $2K), top state Nebraska. Source: 2025 IRS Form 990-PF.

EIN
47-0661090
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$18,520
Grants made (2025)
9
Average grant
$2,058
Median grant
$2,000
Total assets
$508,608
Primary geography
Nebraska (43% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated October 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$509K

+1.7% YoY

Annual Giving

$19K

+0.9% YoY

Grant Count

9

+50.0% YoY

Avg Grant Size

$2K

-32.7% YoY

Under IRS private-foundation payout rules, Iw & Carrie M Carpenter Scholarship reported a distributable amount of $27K for 2025 — the minimum it must pay out in qualifying distributions.

How Iw & Carrie M Carpenter Scholarship gives

  • Giving fell 56% from 2022 to 2025. Method
  • In 2025 it paid out 76% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

8states

Share of 2025 grant dollars across all 9 itemized grants.

Cities

ShawneeSt DavidsOmahaKansas CityColumbusLinwoodLisleBloomingtonChadronChicagoGeringGranvilleGreenwoodLincolnWake Forest

Giving Over Time

Total grant dollars and number of grants per year

$0$20K$40K$60K4 grants2021 10 grants2022 5 grants2023 6 grants2024 9 grants2025

From 2021 to 2025, annual grant giving ranged from $18K (2024) to $42K (2022). In 2025 it made 9 grants totaling $19K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 9 recipients in 2025

Palmer Theological Seminary: $4KPalmer Theological Seminary$4KCentral Seminary: $3KCentral Seminary$3KSummit Christian College: $3KSummit Christian College$3KAmerican Baptist Churches of NE: $2KAmerican Baptist Churches ofNE$2KLutheran School of Theology: $2KLutheran School of Theology$2KMidwestern Baptist Theological Seminary: $2KMidwestern Baptist TheologicalSeminary$2KChadron State College: $1KChadron State College$1KUniversity of Nebraska Lincoln: $1KUniversity of Nebraska Lincoln$1KUniversity of Nebraska Omaha: $1KUniversity of Nebraska Omaha$1K

The largest 2025 recipient was Palmer Theological Seminary ($4K). Together the top 9 received $19K.

Grant Size Distribution

34 grants across all recorded years

34<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 34 grants of 34 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Palmer Theological Seminary St Davids, PAScholarships$4,062
Central Seminary Shawnee, KSScholarships$2,500
Summit Christian College Gering, NEScholarships$2,500
American Baptist Churches of NE Omaha, NEScholarships$2,270
Lutheran School of Theology Chicago, ILScholarships$2,000
Midwestern Baptist Theological Seminary Kansas City, MOScholarships$2,000
Chadron State College Chadron, NEScholarships$1,188
University of Nebraska Lincoln Lincoln, NEScholarships$1,000
University of Nebraska Omaha Omaha, NEScholarships$1,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$50K$100K$150K2021 2022 2023 2024 2025
Metric202520242023
Total Assets$508,608$500,057$532,065
Revenue$37,694$-3,089$14,666
Expenses$29,142$28,919$36,093
Qualifying Distributions$20,902$21,222$28,717
Net Investment Income$29,599$10,663$9,843
Distributable Amount$27,424$25,794$25,241

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2021 (received by the IRS January 11, 2022)
  2. Updated Form 990-PF for fiscal year 2022 (received by the IRS January 13, 2023)
  3. Updated Form 990-PF for fiscal year 2023 (received by the IRS January 15, 2024)
  4. Updated Form 990-PF for fiscal year 2024 (received by the IRS December 23, 2024)
  5. Updated Form 990-PF for fiscal year 2025 (received by the IRS December 19, 2025)
  6. IRS filings on file for fiscal years 2021–2025

Leadership & Key People

Officers and directors from IRS filings

Iw & Carrie M Carpenter Scholarship's only listed officer is US Bank N A, Trustee on the 2025 filing (compensated).

Officers on the 2025 filing

  • US Bank N A

    Trustee

    New on the 2025 filing

    1 hr/week

    $9K (2025)

Former officers (1)
  • Former: US Bank NA (2021–2024) — Trustee

Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Compensation Overview

From 2025 IRS filing

US Bank N a — Trustee: $9KUS Bank N aTrustee$9K

The highest reported compensation on the 2025 filing was $9K, to US Bank N a (Trustee).

Frequently asked questions about Iw & Carrie M Carpenter Scholarship

How much does Iw & Carrie M Carpenter Scholarship give each year?

Iw & Carrie M Carpenter Scholarship gave $19K across 9 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $18K across 6 grants.

What is Iw & Carrie M Carpenter Scholarship's typical grant size?

Iw & Carrie M Carpenter Scholarship's median grant in 2025 was $2,000, and its average grant was $2,058, across 9 grants on its 2025 IRS Form 990-PF.

Where does Iw & Carrie M Carpenter Scholarship give grants?

Iw & Carrie M Carpenter Scholarship's top state is Nebraska, with 43% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were Pennsylvania (22%) and Kansas (13%). The most frequent recipient cities were Omaha, NE (2 grants).

Does Iw & Carrie M Carpenter Scholarship give general operating support?

Not in 2025: none of the 9 grants with a stated purpose on Iw & Carrie M Carpenter Scholarship's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarships" (9 grants).

Who are Iw & Carrie M Carpenter Scholarship's largest grantees?

Iw & Carrie M Carpenter Scholarship's largest 2025 grantees include Palmer Theological Seminary ($4,062), Central Seminary ($2,500) and Summit Christian College ($2,500), according to its 2025 IRS Form 990-PF. Together they received 49% of its itemized 2025 grant dollars.

How large is Iw & Carrie M Carpenter Scholarship?

Iw & Carrie M Carpenter Scholarship reported $509K in total assets on its 2025 IRS Form 990-PF. It paid out $21K in qualifying distributions that year, against a required minimum of $27K (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 is Iw & Carrie M Carpenter Scholarship?

Iw & Carrie M Carpenter Scholarship is a private foundation focused on Religion, based in Milwaukee, WI. It holds $509K in total assets as of 2025.

What is Iw & Carrie M Carpenter Scholarship's EIN?

Iw & Carrie M Carpenter Scholarship's EIN (Employer Identification Number) is 47-0661090. IRS Form 990 filing data is available on this page for 2021–2025.

Data last updated October 2026. Sourced from IRS Form 990-PF filings.

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