LSB Foundation
LSB Foundation is a private foundation based in Reinbeck, Iowa. Its 2025 filing reports 130 grants totaling $238,759, supporting organizations with purposes including education, scholarships, housing, human services, and community projects.
LSB Foundation at a glance
In short: LSB Foundation gave $239K across 130 grants in 2025 (avg $2K), mostly in Iowa. 31% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $238,759
- +3.1% vs 2024
- Grants made (2025)
- 130
- -6.5% vs 2024
- Average grant
- $1,837
- +10.3% vs 2024
- Median grant
- $1,000
- Total assets
- $83,130
- -17.7% vs 2024
- New grantees (estimate)
- 31% first-time grantees (32 of 103, 2025)
- Primary geography
- Iowa (95% 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 LSB Foundation
- How to Apply
-
Obtain an application at a Lincoln Savings Bank office. Applications are reviewed as received on a quarterly basis.
- Contact
Application contact: Ashley Ungs
Mailing address: 242 Tower Park Drive, Waterloo, IA 50701
Phone: (319) 233-1900
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from LSB Foundation
Who LSB Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Scholarship America ($15K across 3 grants). Together the top 10 received $76K.
Organizations only. It also paid 2 individual scholarships ($3,000), which are not listed by name.
Grant Size Distribution
704 grants across all recorded years
The most common grant size was under $50K: 704 grants of 704 (100%).
Geographic Focus
Where this funder awards grants
The filing states that grants are limited to organizations within the geographic markets served by Lincoln Savings Bank. In 2025, 95% of grant dollars went to recipients in Iowa; 1% each went to recipients in Illinois, Texas, and Kansas. The filing lists New York at 0%.
Grant Distribution by State
Share of 2025 grant dollars across all 130 itemized grants.
States
Cities
Is LSB Foundation open to new grantees?
31%
first-time grantees, 2025
In 2025, 32 of 103 grantees (31%) were first-time recipients. First grants averaged $2K; repeat grants $2K. How we count
Medians: $1K first-time, $2K repeat.
- 60% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+5%). Method
- In 2025 it paid out well above its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2021–2025). 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 2021 to 2025, annual grant giving ranged from $219K (2021) to $274K (2023). In 2025 it made 130 grants totaling $239K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| UNI Foundation Cedar Falls, IA | Financial Literacy Fund Support | $10,000 |
| Cedar Falls Housing Trust Fund Waterloo, IA | General Operating Support | $7,500 |
| Central Rivers AEA Foundation Cedar Falls, IA | Leadership in Learning Project Support | $7,298 |
| Scholarship America Reinbeck, IA | G-R (Gladbrook-Reinbeck) Dollars for Scholars Support | $7,164 |
| Scholarship America Reinbeck, IA | G-R (Gladbrook-Reinbeck) Dollars for Scholars Support | $5,657 |
| Americans for Independent Living Waterloo, IA | New Moving Truck Capital Campaign Support | $5,000 |
| Cedar Falls Community Schools Foundation Cedar Falls, IA | Jump in for a New Pool Support | $5,000 |
| Chic Behavioral Health and Community Services Ankeny, IA | Chic Girls Support | $5,000 |
| Christian Community Development DBA House of Hope Waterloo, IA | Extending Hope Campaign Support | $5,000 |
| City of Tama Tama, IA | Safe Routes Network Support | $5,000 |
Ready to take the next step with LSB Foundation?
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 | $83,130 | $227,098 | $244,916 | $238,759 | 130 | $244,125 | $6,605 | $4,842 |
| 2024 | $100,948 | $241,021 | $242,464 | $231,546 | 139 | $240,615 | $4,831 | $9,258 |
| 2023 | $102,391 | $277,311 | $276,657 | $273,730 | 153 | $275,981 | $3,002 | $4,860 |
| 2022 | $101,737 | $267,183 | $232,582 | $228,257 | 158 | $231,840 | — | $6,544 |
| 2021 | $64,736 | $238,036 | $224,322 | $218,637 | 124 | — | — | $2,586 |
Under IRS private-foundation payout rules, LSB 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 October 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2025 grants include support for financial literacy, scholarships, education programs, housing, food assistance, and community services.
Among the grantees, Americans for Independent Living describes its mission as empowering veterans through home modifications, rehabilitation, and transitional housing. The Northeast Iowa Food Bank says it provides food to nonprofit organizations and individuals in Northeast Iowa and offers hunger education. Hawkeye Community College Foundation says it provides financial assistance to students and helps the college meet changing needs. These are grantees’ own descriptions, not stated foundation priorities.
Grantmaking
In 2025, the foundation awarded 130 grants totaling $238,759. Grants ranged from $100 to $10,000, with a median of $1,000. Larger awards included $10,000 to UNI Foundation for financial literacy fund support, $7,500 to Cedar Falls Housing Trust Fund for general operating support, and $7,298 to Central Rivers AEA Foundation for leadership in learning project support. Other 2025 grants included $5,000 to Americans for Independent Living for a moving truck capital campaign and $5,000 to Hawkeye Community College Foundation for its automation and robotics program.
The foundation’s filing says giving is not restricted to preselected organizations. Applications are available at Lincoln Savings Bank offices and are reviewed as received on a quarterly basis. Grants are limited to tax-qualified organizations within Lincoln Savings Bank’s geographic markets.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Sally Hollis as chairperson, David Deeds as vice chairperson, and Michael Peterson as secretary. Trustees are W Scott Bush, Kenneth Furst, Dennis Presnall, Gerald Beechum, Shara Chang, Sean Willett, and Spencer Cohn.
LSB Foundation is led by Sally Hollis, Chairperson since 2022 (on filings since 2021); none of the 10 officers listed in 2025 report compensation.
Officers on the 2025 filing
Sally Hollis
Chairperson
Trustee → Chairperson, 2022
On filings since 2021
0.5 hrs/week
No compensation reported
Dennis Presnall
Trustee
On filings since 2021
0.5 hrs/week
No compensation reported
W. Scott Bush
Trustee
On filings since 2021
0.5 hrs/week
No compensation reported
Gerald Beechum
Trustee
On filings since 2024
0.5 hrs/week
No compensation reported
Kenneth Furst
Trustee
On filings since 2024
0.5 hrs/week
No compensation reported
Sean Willett
Trustee
On filings since 2024
0.5 hrs/week
No compensation reported
Shara Chang
Trustee
On filings since 2024
0.5 hrs/week
No compensation reported
Spencer Cohn
Trustee
On filings since 2024
0.5 hrs/week
No compensation reported
David Deeds
Vice Chairperson
Trustee → Vice Chairperson, 2022
On filings since 2021
0.5 hrs/week
No compensation reported
Michael Peterson
Secretary
On filings since 2021
0.5 hrs/week
No compensation reported
Former officers (8)
- Former: Ben Milne (2021–2023) — Trustee
- Former: Erik Skovgard (2021–2023) — Trustee
- Former: Jeffrey Dralle (2021–2023) — Trustee
- Former: Ken Furst (2021–2023) — Trustee
- Former: Linda Allen (2021–2023) — Trustee
- Former: Steve Brouwer (2021–2023) — Trustee
- Former: Tony Scavuzzu (2021–2023) — Trustee
- Former: Milt Dakovich (2021–2022) — Chairperson
Data from IRS Form 990 filings, 2021–2025. "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 LSB Foundation
How much does LSB Foundation give each year?
LSB Foundation gave $239K across 130 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $232K across 139 grants.
What is LSB Foundation's typical grant size?
LSB Foundation's median grant in 2025 was $1,000, and its average grant was $1,837, across 130 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from LSB Foundation that year got $2K on average.
Where does LSB Foundation give grants?
LSB Foundation gives mostly in Iowa: 95% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Waterloo, IA (43 grants), Des Moines, IA (19 grants), Cedar Falls, IA (7 grants) and Reinbeck, IA (7 grants).
Does LSB Foundation give general operating support?
Yes: 52% of LSB Foundation's 2025 grants with a stated purpose (67 of 130) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Dollars for Scholars Support - Annual Scholarship Gift" (12 grants).
Who are LSB Foundation's largest grantees?
LSB Foundation's largest 2025 grantees include Scholarship America ($14,821 across 3 grants), UNI Foundation ($11,200 across 3 grants) and Northeast Iowa Food Bank ($8,100 across 8 grants), according to its 2025 IRS Form 990-PF. It also paid 2 individual scholarships ($3,000), which are not listed by name. Together they received 14% of its itemized 2025 grant dollars.
How large is LSB Foundation?
LSB Foundation reported $83K in total assets on its 2025 IRS Form 990-PF. It paid out $244K in qualifying distributions that year, against a required minimum of $5K (roughly 5% of its investment assets).
What does LSB Foundation fund?
No mission statement for the foundation is provided. Its 2025 grants include support for financial literacy, scholarships, education programs, housing, food assistance, and community services. See mission & focus areas ↑
How do I apply for a grant from LSB Foundation?
Obtain an application at a Lincoln Savings Bank office. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is LSB Foundation's EIN?
LSB Foundation's EIN (Employer Identification Number) is 20-1653464. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 15, 2026)
- IRS filings on file for fiscal years 2021–2024
Explore Open Grants
Browse active grant opportunities in LSB Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). LSB Foundation funder profile. GrantGraph. Retrieved October 8, 2026, from https://grantable.co/funders/lsb-foundation-morg_e3982cf66a10456abb8d22ec4ff51d9c
BibTeX
@misc{grantable_201653464_2026,
author = {{Grantable}},
title = {{LSB Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/lsb-foundation-morg_e3982cf66a10456abb8d22ec4ff51d9c},
note = {Accessed 2026-10-08. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from LSB Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
LSB Foundation down — hundreds of funders to go?