Larry & Frankie Hager Trust 1
Larry & Frankie Hager Trust 1 is a private foundation, based in Owensboro, KY. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $624K in total assets. In 2025, it awarded 1 grant totaling $33K. Net investment income was $14K.
Larry & Frankie Hager Trust 1 at a glance
In short: Larry & Frankie Hager Trust 1 gave $33K across 1 grant in 2025 (avg $33K), mostly in Kentucky. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $32,958
- Grants made (2025)
- 1
- Average grant
- $32,958
- Median grant
- $32,958
- Total assets
- $623,798
- -3.9% vs 2024
- Primary geography
- Kentucky (100% 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 Larry & Frankie Hager Trust 1 funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was International Bluegrass Music Museum Inc ($33K).
Grant Size Distribution
2 grants across all recorded years
The most common grant size was under $50K: 1 grant of 2 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How Larry & Frankie Hager Trust 1 gives
- In 2025 it paid out 91% 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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2023 to 2025, annual grant giving ranged from $33K (2025) to $409K (2023). In 2025 it made 1 grant totaling $33K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| International Bluegrass Music Museum Inc Owensboro, KY | General | $32,958 |
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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 | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $623,798 | $19,552 | $44,909 | $32,958 | 1 | $38,934 | $13,577 | $42,752 |
| 2024 | $649,155 | $-2,670 | $15,578 | — | — | $6,014 | $12,026 | $39,639 |
| 2023 | $667,403 | $134,388 | $677,069 | $409,426 | 1 | $417,560 | $126,166 | $60,272 |
| 2022 | $1,210,084 | $98,124 | $16,039 | — | — | $6,818 | $91,175 | $65,191 |
| 2021 | $1,127,999 | $98,269 | $15,181 | — | — | $7,605 | $90,632 | $68,879 |
| 2020 | $1,045,046 | $18,828 | $13,359 | — | — | — | $17,792 | $58,450 |
| 2019 | $1,040,045 | $32,844 | $13,745 | — | — | — | $26,848 | $56,826 |
Under IRS private-foundation payout rules, Larry & Frankie Hager Trust 1 reported a distributable amount of $43K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Larry & Frankie Hager Trust 1's only listed officer is Independence Bank, Trustee on every filing since 2022 (compensated).
Officers on the 2025 filing
Independence Bank
Trustee
On filings since 2022
3 hrs/week
$5K (2023) → $10K (2025)
Former officers (1)
- Former: PNC Bank NA (2019–2023) — Trustee -
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $10K, to Independence Bank (Trustee).
Frequently asked questions about Larry & Frankie Hager Trust 1
How much does Larry & Frankie Hager Trust 1 give each year?
Larry & Frankie Hager Trust 1 gave $33K across 1 grant in 2025, according to its 2025 IRS Form 990-PF.
How large is Larry & Frankie Hager Trust 1?
Larry & Frankie Hager Trust 1 reported $624K in total assets on its 2025 IRS Form 990-PF. It paid out $39K in qualifying distributions that year, against a required minimum of $43K (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.
Where does Larry & Frankie Hager Trust 1 operate?
Larry & Frankie Hager Trust 1 has awarded grants in Kentucky.
What is Larry & Frankie Hager Trust 1's EIN?
Larry & Frankie Hager Trust 1's EIN (Employer Identification Number) is 46-4562608. 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
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 8, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS August 3, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Larry & Frankie Hager Trust 1 funds
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