John B & Brownie Young Memorial Fund
The John B. and Brownie Young Memorial Fund is a private foundation based in Owensboro, Kentucky. Established in 1961 by Senator Gates F. Young to honor the memory of his parents, the fund operates as a scholarship program serving high school seniors in the Owensboro region. Independence Bank serves as the Trustee of the fund, with an Advisory Committee overseeing scholarship selection and administration.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$13.7M
-1.4% YoY
Annual Giving
$655K
-35.1% YoY
Grant Count
398
-46.9% YoY
Avg Grant Size
$2K
+22.2% YoY
Mission & Focus Areas
The fund was established to recognize deserving high school seniors and provide educational opportunities for worthy students who might otherwise find the transition from high school to college difficult or impossible. The primary focus is education, specifically through merit-based and need-based scholarships for college-bound students.
Grantmaking
The John B. and Brownie Young Memorial Fund awards scholarships to eligible high school seniors. Scholarship amounts vary based on individual circumstances, with awards determined by calculating the cost of attendance minus the Student Aid Index (SAI), other scholarships, and grants. A minimum scholarship of $500 is awarded to every eligible student who applies.
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Geographic Focus
Where this funder awards grants
The fund serves students from:
- Owensboro Independent School District
- Daviess County Public Schools
- McLean County Public Schools
- Owensboro Catholic Diocese
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
- Total Assets: $13,724,244
- Total Annual Giving: $655,340
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $13,724,244 | $13,924,618 | $14,522,767 |
| Revenue | $542,752 | $505,043 | $437,858 |
| Expenses | $776,860 | $1,111,688 | $850,271 |
| Qualifying Distributions | $725,804 | $1,077,590 | $801,560 |
| Net Investment Income | $447,824 | $413,678 | $370,205 |
| Distributable Amount | $970,950 | $821,897 | $846,723 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
160 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Founder: Senator Gates F. Young (established the fund in May 1961; deceased April 1967)
Current Administration:
- Independence Bank Trust Department serves as Trustee
- Advisory Committee consisting of superintendents from each eligible school district and representatives from the Owensboro Catholic Diocese
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| INDEPENDENCE BANK | TRUSTEE | 20 | $84,652 |
| DAVIESS CO BOARD OF EDUCATION | COMMITTEE MEMBER | 1 | $2,000 |
| MCLEAN COUNTY BOARD OF EDUCATION | COMMITTEE MEMBER | 1 | $2,000 |
| OWENSBORO BOARD OF EDUCATION | COMMITTEE MEMBER | 1 | $2,000 |
| OWENSBORO CATHOLIC SCHOOL DIOCESE | COMMITTEE MEMBER | 1 | $2,000 |
Contact Information
Independence Bank Trust Department 2425 Frederica Street P.O. Box 948 Owensboro, KY 42302-0948
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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