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.
Leaco Rural Telephone at a glance
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.
- Annual giving (2025)
- $4,000
- +14.3% vs 2024
- Grants made (2025)
- 7
- +16.7% vs 2024
- Average grant
- $571
- -2.0% vs 2024
- Median grant
- $500
- Total assets
- $36,120
- +30.8% vs 2024
- Primary geography
- New Mexico (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 Leaco Rural Telephone funds
How this funder distributes its grants
Grant Size Distribution
31 grants across all recorded years
The most common grant size was under $50K: 31 grants of 31 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 7 itemized grants.
States
Cities
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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $2K (2023) to $7K (2019). In 2025 it made 7 grants totaling $4K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 7 individual scholarships Recipients not named | — | $4,000 |
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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 | $36,120 | $23,932 | $15,930 | $4,000 | 7 | $4,463 | — | $1,695 |
| 2024 | $27,618 | $25,643 | $7,025 | $3,500 | 6 | $3,913 | — | $1,061 |
| 2023 | $8,500 | $3,837 | $3,825 | $2,000 | 4 | $2,413 | — | $379 |
| 2022 | $7,488 | $803 | $1,800 | $4,000 | 6 | $4,400 | — | $412 |
| 2021 | $11,485 | $12 | $9,225 | $5,000 | 8 | $5,363 | — | $708 |
| 2020 | $17,198 | $1,372 | $5,500 | $3,500 | 5 | — | — | $933 |
| 2019 | $20,826 | $70 | $6,500 | $6,500 | 9 | — | $70 | $1,197 |
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.
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.
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).
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.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- 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)
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