Leaco Rural Telephone
Leaco Rural Telephone is a private foundation, based in Hobbs, NM. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $36K in total assets. In 2025, it awarded 7 grants totaling $4K.
Key facts about Leaco Rural Telephone
In short: Leaco Rural Telephone gave $4K across 7 grants in 2025 (avg $571.429), mostly in New Mexico. Source: 2025 IRS Form 990-PF.
- EIN
- 85-6120669
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $4,000
- Grants made (2025)
- 7
- Average grant
- $571
- Median grant
- $500
- Total assets
- $36,120
- Primary geography
- New Mexico (100% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$36K
+30.8% YoY
Annual Giving
$4K
+14.3% YoY
Grant Count
7
+16.7% YoY
Avg Grant Size
$571.429
-2.0% YoY
Under IRS private-foundation payout rules, Leaco Rural Telephone reported a distributable amount of $2K for 2025 — the minimum it must pay out in qualifying distributions.
How Leaco Rural Telephone gives
- Giving held roughly steady from 2022 to 2025 (+0%). Method
- In 2025 it paid out 263% of its IRS minimum distribution (the 5% rule). 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
Share of all 7 itemized 2025 grant dollars.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2025
Grant Size Distribution
31 grants across all recorded years
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| NALANI COBOS Dexter, NM | SCHOLARSHIP | $1,000 |
| BENTON LEE Hobbs, NM | SCHOLARSHIP | $500 |
| JUSTICE TORRES Tatum, NM | SCHOLARSHIP | $500 |
| KYLAR PICKERING Hobbs, NM | SCHOLARSHIP | $500 |
| MIA NEWEY Hobbs, NM | SCHOLARSHIP | $500 |
| ROWDY GRAY Hagerman, NM | SCHOLARSHIP | $500 |
| VALERIA DOMINGUEZ CHAVES Dexter, NM | SCHOLARSHIP | $500 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $36,120 | $27,618 | $8,500 |
| Revenue | $23,932 | $25,643 | $3,837 |
| Expenses | $15,930 | $7,025 | $3,825 |
| Qualifying Distributions | $4,463 | $3,913 | $2,413 |
| Net Investment Income | — | — | — |
| Distributable Amount | $1,695 | $1,061 | $379 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS August 12, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 10, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 10, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 9, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 6, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 13, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 30, 2026)
- Added Form 990-PF for fiscal year 2019 (received by the IRS August 12, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 10, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 10, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 9, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 6, 2024)
Leadership & Key People
Officers and directors from IRS filings
Leaco Rural Telephone is led by Robert Garnett, President since 2022 (on filings since 2020); none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
Robert Garnett
President
Vice President → President, 2022
On filings since 2020
1 hr/week
No compensation reported
Joel Klein
Secretary & Treasurer
Assistant Secretary & Treasurer → Secretary & Treasurer, 2022
On filings since 2019
1 hr/week
No compensation reported
Leon Hemann
Vice President
Secretary & Treasurer → Vice President, 2022
On filings since 2019
1 hr/week
No compensation reported
Regina Watson
Assistant Secretary & Treasurer
On filings since 2022
1 hr/week
No compensation reported
Former officers (3)
- Former: Luann Pearce (2020–2022) — Past President
- Former: Danny Watson (2019) — President
- Former: Luann Pearson (2019) — Vice President
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 Leaco Rural Telephone
How much does Leaco Rural Telephone give each year?
Leaco Rural Telephone gave $4K across 7 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $4K across 6 grants.
What is Leaco Rural Telephone's typical grant size?
Leaco Rural Telephone's median grant in 2025 was $500, and its average grant was $571, across 7 grants on its 2025 IRS Form 990-PF.
Where does Leaco Rural Telephone give grants?
Leaco Rural Telephone gives mostly in New Mexico: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Hobbs, NM (3 grants) and Dexter, NM (2 grants).
Does Leaco Rural Telephone give general operating support?
Not in 2025: none of the 7 grants with a stated purpose on Leaco Rural Telephone's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarship" (7 grants).
Who are Leaco Rural Telephone's largest grantees?
Leaco Rural Telephone's largest 2025 grantees include Nalani Cobos ($1,000), Benton Lee ($500) and Justice Torres ($500), according to its 2025 IRS Form 990-PF. Together they received 50% of its itemized 2025 grant dollars.
How large is Leaco Rural Telephone?
Leaco Rural Telephone reported $36K in total assets on its 2025 IRS Form 990-PF. It paid out $4K in qualifying distributions that year, against a required minimum of $2K (roughly 5% of its investment assets).
What is Leaco Rural Telephone's EIN?
Leaco Rural Telephone's EIN (Employer Identification Number) is 85-6120669. 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.
Here's the math on researching Leaco Rural Telephone by hand.
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