The LSB Foundation is a corporate foundation established by Lincoln Savings Bank in 2005. Based in Reinbeck, Iowa, it serves as the philanthropic arm of Lincoln Savings Bank, a community bank founded in 1902. The foundation supports the charitable giving tradition of the bank to communities throughout the Midwest.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$101K
-1.4% YoY
Annual Giving
$232K
-15.4% YoY
Grant Count
139
-9.2% YoY
Avg Grant Size
$2K
-6.9% YoY
Mission & Focus Areas
The foundation prioritizes general operating support, community programs, and education initiatives. Specific funding areas include:
- Education and scholarships
- Youth education and leadership development
- Human services
- Community enhancement and disaster relief
- Local scholarships for students in education and medical fields
- Community programs such as Wreaths Across America and Winter Wishes
Grantmaking
Average Grant
of approximately $5,000 and a median grant of $1,200.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Iowa, with some grants extending to Texas and Tennessee. Local emphasis is placed on communities served by Lincoln Savings Bank throughout the Midwest.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year 2024:
- Total Assets: $100,948
- Total Revenues: $241,021
- Total Expenses: $242,464
- Total Giving: $231,546
Historical Impact: Since its establishment in 2005, the foundation has raised over $2.6 million and distributed grants to numerous organizations across its service areas.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $100,948 | $102,391 | $101,737 |
| Revenue | $241,021 | $277,311 | $267,183 |
| Expenses | $242,464 | $276,657 | $232,582 |
| Qualifying Distributions | $240,615 | $275,981 | $231,840 |
| Net Investment Income | $4,831 | $3,002 | — |
| Distributable Amount | $9,258 | $4,860 | $6,544 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
200 grants across all recorded years
Open Grants
1 open opportunity from Lsb Foundation
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is governed by a volunteer board of trustees with no paid staff:
- Sally Hollis – Chairperson
- David Deeds – Vice Chairperson
- Michael Peterson – Secretary
- W Scott Bush – Trustee
- Kenneth Furst – Trustee
- Dennis Presnall – Trustee
- Gerald Beechum – Trustee
- Shara Chang – Trustee
- Sean Willett – Trustee
- Spencer Cohn – Trustee
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| SALLY HOLLIS | CHAIRPERSON | 0.5 | — |
| DAVID DEEDS | VICE CHAIRPERSON | 0.5 | — |
| MICHAEL PETERSON | SECRETARY | 0.5 | — |
| W SCOTT BUSH | TRUSTEE | 0.5 | — |
| KENNETH FURST | TRUSTEE | 0.5 | — |
| DENNIS PRESNALL | TRUSTEE | 0.5 | — |
| GERALD BEECHUM | TRUSTEE | 0.5 | — |
| SHARA CHANG | TRUSTEE | 0.5 | — |
| SEAN WILLETT | TRUSTEE | 0.5 | — |
| SPENCER COHN | TRUSTEE | 0.5 | — |
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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