Malu Ltd
Malu Ltd is a private foundation focused on Education, based in Milwaukee, WI. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $1.7M in total assets. In 2025, it awarded 1 grant totaling $132K. Net investment income was $80K.
Malu Ltd at a glance
In short: Malu Ltd gave $132K across 1 grant in 2025 (avg $132K), mostly in Wisconsin. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $132,000
- +10.0% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $132,000
- +10.0% vs 2024
- Median grant
- $132,000
- Total assets
- $1,731,929
- -3.4% vs 2024
- Primary geography
- Wisconsin (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 Malu Ltd funds
How this funder distributes its grants
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $100–250K range: 3 grants of 5 (60%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
How Malu Ltd gives
- Giving grew 120% from 2022 to 2025. Method
- In 2025 it paid out 111% 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 $60K (2019) to $132K (2025). In 2025 it made 1 grant totaling $132K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| See Attached Schedule See Attached Schedule, WI | See Attached | $132,000 |
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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 | $1,731,929 | $93,696 | $153,703 | $132,000 | 1 | $140,450 | $80,443 | $126,094 |
| 2024 | $1,792,089 | $56,428 | $139,004 | $120,000 | 1 | $131,582 | $50,629 | $123,871 |
| 2023 | $1,874,212 | $1,089,223 | $111,905 | $100,000 | 1 | $105,110 | $40,679 | $95,121 |
| 2022 | $896,368 | $1,034 | $71,749 | $60,000 | 1 | $63,931 | $11,502 | $61,044 |
| 2021 | $967,221 | $171,280 | $69,317 | $60,000 | 1 | $63,669 | $165,632 | $66,291 |
| 2020 | $864,883 | $240,421 | $77,106 | $60,000 | 1 | — | $236,886 | $54,940 |
| 2019 | $701,450 | $508,445 | $69,841 | $60,000 | 1 | — | $506,104 | $50,009 |
Under IRS private-foundation payout rules, Malu Ltd reported a distributable amount of $126K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Malu Ltd's 2025 filing lists 5 officers; 1 of 5 officers listed in 2025 is compensated.
Officers on the 2025 filing
David R. Frantz
Assistant Secretary, Assistant Treasurer & Director
On filings since 2019
0.5 hrs/week
No compensation reported
Eric L. Frantz
Director
On filings since 2019
0.5 hrs/week
No compensation reported
Erin L. Rodgers
Director
On filings since 2019
0.5 hrs/week
No compensation reported
Mary Ann Frantz
Secretary, Treasurer & Director
On filings since 2019
0.5 hrs/week
No compensation reported
Wayne R. Lueders
Vice President & Assistant Secretary
On filings since 2019
0.5 hrs/week
$4K (2019) → $12K (2025)
Former officers (1)
- Former: Harry L. Wallace (2019–2022) — President & Director
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $12K, to Wayne R Lueders (Vice Pres, Asst Secretary).
Frequently asked questions about Malu Ltd
How much does Malu Ltd give each year?
Malu Ltd gave $132K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $120K across 1 grant.
How large is Malu Ltd?
Malu Ltd reported $1.7M in total assets on its 2025 IRS Form 990-PF. It paid out $140K in qualifying distributions that year, against a required minimum of $126K (roughly 5% of its investment assets).
What is Malu Ltd?
Malu Ltd is a private foundation focused on Education, based in Milwaukee, WI. It holds $1.7M in total assets as of 2025.
Where does Malu Ltd operate?
Malu Ltd has awarded grants in Wisconsin.
What is Malu Ltd's EIN?
Malu Ltd's EIN (Employer Identification Number) is 23-7050162. 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
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS June 8, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 13, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Malu Ltd's focus areas in our free grants database
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