Lee Endowment Foundation
Lee Endowment Foundation is a private foundation based in Mason City, Iowa. Its 2025 filing says it makes contributions to preselected charitable organizations and lists eligible recipients as North Central Iowa charitable, scientific, literary, educational, or municipal corporations, organizations, and associations, at the board’s discretion.
Lee Endowment Foundation at a glance
In short: Lee Endowment Foundation gave $5K across 10 grants in 2025 (avg $532.2), mostly in Iowa. 0% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $5,322
- -36.9% vs 2024
- Grants made (2025)
- 10
- -9.1% vs 2024
- Average grant
- $532
- -30.6% vs 2024
- Median grant
- $83
- Total assets
- $500,405
- -15.3% vs 2024
- New grantees (estimate)
- 0% first-time grantees (0 of 10, 2025; small sample)
- Primary geography
- Iowa (98% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Lee Endowment Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it does not accept unsolicited requests. Contributions are made only to preselected charitable organizations. For charitable grants, information must be provided in the manner prescribed by the Charitable Fund Board of Directors. Awards are available, at the board’s discretion, to North Central Iowa charitable, scientific, literary, educational, or municipal corporations, organizations, and associations.
- Contact
Application contact: Janet Johnson Publisher Globe Gaze
Mailing address: P O Box 271, Mason City, IA 50402
Phone: (641) 421-0507
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Lee Endowment Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was YSS of North Iowa ($2K). Together the top 10 received $5K.
Grant Size Distribution
57 grants across all recorded years
The most common grant size was under $50K: 57 grants of 57 (100%).
Geographic Focus
Where this funder awards grants
The foundation’s filing describes eligible organizations as being in North Central Iowa. In 2025, 98% of grant dollars went to recipients in Iowa and 2% to recipients in Arizona. The listed grants included recipients in Mason City and other Iowa locations, as well as one recipient in Tucson, Arizona.
Grant Distribution by State
Share of 2025 grant dollars across all 10 itemized grants.
Cities
Is Lee Endowment Foundation open to new grantees?
0%
first-time grantees, 2025
In 2025, 0 of 10 grantees (0%) were first-time recipients. With only 10 grantees, that is a small sample: one grantee more or less moves the share by about 10 points. How we count
- 100% of 2025 grantees were also funded in 2024. Method
- Giving fell 76% from 2022 to 2025. Method
- In 2025 it paid out 178% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $5K (2025) to $30K (2019). In 2025 it made 10 grants totaling $5K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| YSS of North Iowa Mason City, IA | 24/7 Programs' General Needs | $2,000 |
| Niacc Foundation Mason City, IA | Scholarships | $1,266 |
| Stebens Childrens Theatre Mason City, IA | Lighting System Upgrade | $1,231 |
| Mason City Parks & Rec DE Mason City, IA | Ray Rorick Park Support | $413 |
| First Presbyterian Church Mason City, IA | Operations | $83 |
| Simpson College Indianola, IA | Operations | $83 |
| Winnebago Boy Scout Council Waterloo, IA | Operations | $83 |
| St Andrews Presbyterian Church Tucson, AZ | Operations | $83 |
| United Way of North Central Iowa Mason City, IA | Operations | $40 |
| Christmas Cheer Fund Mason City, IA | Operations | $40 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Distributable Amount |
|---|---|---|---|---|---|---|---|
| 2025 | $500,405 | $-78,188 | $12,482 | $5,322 | 10 | $8,254 | $4,626 |
| 2024 | $591,065 | $-36,664 | $16,123 | $8,433 | 11 | $12,027 | $8,916 |
| 2023 | $643,852 | $-84,105 | $25,901 | $18,752 | 11 | $21,682 | $11,363 |
| 2022 | $753,858 | $-49,875 | $29,522 | $22,157 | 12 | $25,148 | $21,743 |
| 2021 | $833,255 | $-6,917 | $16,752 | $9,441 | 13 | $12,427 | $25,143 |
| 2020 | $856,924 | $-81,840 | $32,183 | $25,318 | 14 | — | $12,314 |
| 2019 | $970,947 | $-57,250 | $38,129 | $30,485 | 14 | — | $28,597 |
Under IRS private-foundation payout rules, Lee Endowment Foundation reported a distributable amount of $5K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2025 grants included support for general needs, scholarships, a theater lighting upgrade, park support, and operations.
Among the 2025 grantees, Stebens Children’s Theatre says its mission is to educate young people in theatre arts and provide North Iowa with high-quality family entertainment. Simpson College describes its mission as cultivating a diverse community of learners through innovative learning, individual student attention, and inclusive educational access. United Way of North Central Iowa says it seeks to build a stronger, more caring community through partnerships and sustained improvements in community conditions.
Grantmaking
In filing year 2025, the foundation gave $5,322 through 10 grants. Grant amounts ranged from $40 to $2,000, with a median of $83. Notable grants included $2,000 to YSS of North Iowa for 24/7 programs’ general needs, $1,266 to NIACC Foundation for scholarships, and $1,231 to Stebens Children’s Theatre for a lighting system upgrade.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Ronald L Rickman as secretary, treasurer, and director; Howard Kennedy as president and director; and CD Waterman Lane Waterman LLP as assistant secretary.
Lee Endowment Foundation is led by Howard Kennedy, President & Director on every filing since 2019; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Howard Kennedy
President & Director
On filings since 2019
1 hr/week
No compensation reported
Ronald L. Rickman
Secretary, Treasurer & Director
On filings since 2019
1 hr/week
No compensation reported
CD Waterman Lane Waterman LLP
Assistant Secretary
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (1)
- Former: Cd Waterman III (2019–2024) — Assistant Secretary
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 Lee Endowment Foundation
How much does Lee Endowment Foundation give each year?
Lee Endowment Foundation gave $5K across 10 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $8K across 11 grants.
What is Lee Endowment Foundation's typical grant size?
Lee Endowment Foundation's median grant in 2025 was $83, and its average grant was $532, across 10 grants on its 2025 IRS Form 990-PF.
Where does Lee Endowment Foundation give grants?
Lee Endowment Foundation gives mostly in Iowa: 98% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Mason City, IA (7 grants).
Does Lee Endowment Foundation give general operating support?
Yes: 10% of Lee Endowment Foundation's 2025 grants with a stated purpose (1 of 10) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Operations" (6 grants).
Who are Lee Endowment Foundation's largest grantees?
Lee Endowment Foundation's largest 2025 grantees include YSS of North Iowa ($2,000), Niacc Foundation ($1,266) and Stebens Childrens Theatre ($1,231), according to its 2025 IRS Form 990-PF. Together they received 84% of its itemized 2025 grant dollars.
How large is Lee Endowment Foundation?
Lee Endowment Foundation reported $500K in total assets on its 2025 IRS Form 990-PF. It paid out $8K in qualifying distributions that year, against a required minimum of $5K (roughly 5% of its investment assets).
What does Lee Endowment Foundation fund?
No mission statement for the foundation is provided. Its 2025 grants included support for general needs, scholarships, a theater lighting upgrade, park support, and operations. See mission & focus areas ↑
How do I apply for a grant from Lee Endowment Foundation?
The foundation states that it does not accept unsolicited requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Lee Endowment Foundation's EIN?
Lee Endowment Foundation's EIN (Employer Identification Number) is 42-1074052. IRS Form 990 filing data is available on this page for 2019–2025.
Does Lee Endowment Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS May 28, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 14, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 10, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 9, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS April 23, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
- IRS filings on file for fiscal years 2019–2024
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