Liberty Fund Inc
Liberty Fund Inc is a private foundation, based in Carmel, IN. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $396.6M in total assets. In 2025, it made $16.7M in qualifying distributions. Net investment income was $25.3M.
Key facts about Liberty Fund Inc
- EIN
- 35-1320021
- Latest 990 filing
- Form 990-PF, 2025
- Total assets
- $396,557,289
Data from IRS Form 990-PF, 2025; updated September 2026.
How Liberty Fund Inc gives
- Giving grew 538% from 2021 to 2024. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with Liberty Fund Inc
- How to evaluate Liberty Fund Inc as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
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Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$396.6M
+10.6% YoY
Revenue
$56.9M
+153.6% YoY
Qualifying Distributions
$16.7M
-7.5% YoY
Expenses
$18.3M
-7.3% YoY
About Liberty Fund Inc
Based on IRS filings
Liberty Fund Inc is a private foundation, based in Carmel, IN. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $396.6M in total assets. In 2025, it made $16.7M in qualifying distributions. Net investment income was $25.3M.
Ready to take the next step with Liberty Fund Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $396,557,289 | $358,645,767 | $356,589,428 |
| Revenue | $56,857,773 | $22,422,647 | $12,931,336 |
| Expenses | $18,302,443 | $19,737,647 | $18,608,137 |
| Qualifying Distributions | $16,713,692 | $18,061,211 | $17,024,010 |
| Net Investment Income | $25,306,821 | $21,668,031 | $12,288,468 |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 0 recipients in 2025
Grant Size Distribution
8 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for 2025.
Leadership & Key People
Officers and directors from IRS filings
Liberty Fund Inc is led by Sean R. Shelby, Director, President & CEO since 2023 (on filings since 2021); all 11 officers listed in 2023 are compensated.
Officers on the 2023 filing
Sean R. Shelby
Director, President & CEO
President & CEO → Director, President & CEO, 2023
On filings since 2021
40 hrs/week
$257K (2021) → $457K (2023)
Nathan Feltman
Director & Chairman
On filings since 2021
10 hrs/week
$56K (2021) → $90K (2023)
Ben A. Rast
Director
On filings since 2021
3 hrs/week
$42K (2021) → $51K (2023)
Dane Starbuck
Director
On filings since 2021
3 hrs/week
$97K (2021) → $54K (2023)
Emilio J. Pacheco
Director, Senior Vice President & Pfg Res Scholar
On filings since 2021
40 hrs/week
$341K (2021) → $281K (2023)
Luis H. Ball
Director
On filings since 2021
3 hrs/week
$42K (2021) → $51K (2023)
Mary A. O'Grady
Director
On filings since 2021
3 hrs/week
$42K (2021) → $51K (2023)
Terry W. Anker
Director
On filings since 2021
3 hrs/week
$42K (2021) → $51K (2023)
Sandra J. Schaller
Vice President, Controller & Sec-Treasurer
On filings since 2021
40 hrs/week
$224K (2021) → $229K (2023)
Stephanie L. Kaufman
Assistant Secretary, Spec Proj & Office Manager
Assistant Secretary, Executive Assistant & Office Manager → Assistant Secretary, Spec Proj & Office Manager, 2023
On filings since 2021
40 hrs/week
$100K (2021) → $102K (2023)
Brian J. Pawlowski
Vice President & COO
New on the 2023 filing
40 hrs/week
$215K (2023)
Former officers (3)
- Former: T. Alan Russell (2021–2022) — Director Emeritus
- Former: Douglas J. Den Uyl (2021) — Vice President of Educational Programs
- Former: Richard W. Duesenberg (2021) — Director Emeritus · Filing note: Thru 092020
Data from IRS Form 990 filings, 2021–2023. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2023 IRS filing
Frequently Asked Questions
How large is Liberty Fund Inc?
As of 2025, Liberty Fund Inc holds $396.6M in total assets with $56.9M in annual revenue.
Where does Liberty Fund Inc operate?
Liberty Fund Inc has awarded grants in District of Columbia, Indiana, New York, Texas.
What is Liberty Fund Inc's EIN?
Liberty Fund Inc's EIN (Employer Identification Number) is 35-1320021. IRS Form 990 filing data is available on this page for 2021–2025.
Explore Open Grants
Browse active grant opportunities in Liberty Fund Inc's focus areas in our free grants database
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.