Martin Jacob Scholarship Trust
The Martin Jacob Scholarship Trust is a private foundation based in Covington, Indiana. It supports scholarships for graduating high school students from specified Indiana counties and Vermilion County, Illinois, with stated preferences for certain candidates.
Martin Jacob Scholarship Trust at a glance
- Revenue (2024)
- $3,328
- -76.0% vs 2023
- Qualifying distributions (2024)
- $6,043
- -86.3% vs 2023
- Expenses (2024)
- $13,009
- -74.1% vs 2023
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
How to apply to Martin Jacob Scholarship Trust
- How to Apply
-
The final filing says to contact the Covington Community Foundation and return a scholarship application on forms prescribed by the Trust. It states that there are no deadlines. The filing lists the scholarship restrictions described above. These instructions are from the trust’s final return and are not presented as current.
- Contact
Application contact: Covington Community Foundation
Mailing address: 135 S Stringtown Road, Covington, IN 47932
Phone: (765) 793-0702
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Martin Jacob Scholarship Trust funds
How this funder distributes its grants
Grant Size Distribution
43 grants across all recorded years
The most common grant size was under $50K: 43 grants of 43 (100%).
Geographic Focus
Where this funder awards grants
The filing lists graduating high school students from Fountain, Tippecanoe, Warren, Vermillion, Parke, and Montgomery Counties in Indiana, and Vermilion County in Illinois. It allows for additional counties if necessary and states a preference for candidates residing in Fountain County, Indiana.
Grant Distribution by State
Cities
How Martin Jacob Scholarship Trust gives
- Giving held roughly steady from 2020 to 2023 (+8%). Method
- In 2024 it paid out 25% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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 2020 to 2023, annual grant giving ranged from $36K (2020) to $45K (2022). In 2023 it made 13 grants totaling $39K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 13 individual scholarships Recipients not named | — | $39,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | — | $3,328 | $13,009 | — | — | $6,043 | $3,328 | $23,762 |
| 2023 | $503,848 | $13,854 | $50,180 | $39,000 | 13 | $44,111 | $19,552 | $43,673 |
| 2022 | $534,477 | $13,270 | $58,827 | $45,000 | 15 | $52,290 | $6,843 | $45,755 |
| 2021 | $580,034 | $13,432 | $51,011 | $38,960 | 14 | $45,365 | $7,891 | $47,435 |
| 2020 | $617,613 | $12,645 | $47,151 | $36,000 | 1 | — | $7,545 | $41,834 |
Under IRS private-foundation payout rules, Martin Jacob Scholarship Trust reported a distributable amount of $24K for 2024 — 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 formal mission statement is provided. The filing describes scholarship awards for graduating high school students in the listed counties, with additional counties included if necessary. It gives preference to candidates residing in Fountain County, Indiana, whose grandparent and/or parent is now or has served on active duty in the U.S. Armed Forces and was honorably discharged or is in good standing.
Grantmaking
The trust reported 13 grants totaling $39,000 in 2023, an average of $3,000 per grant. In 2022, it reported 15 grants totaling $45,000, an average of $3,000 per grant. The available information does not identify individual grantees or award amounts.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists The Fountain Trust Company as trustee.
Martin Jacob Scholarship Trust's only listed officer is The Fountain Trust Company, Trustee on every filing since 2020 (compensated).
Officers on the 2024 filing
The Fountain Trust Company
Trustee
On filings since 2020
$10K (2020) → $12K (2024)
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $12K, to The Fountain Trust Company (Trustee).
Frequently asked questions about Martin Jacob Scholarship Trust
What does Martin Jacob Scholarship Trust fund?
No formal mission statement is provided. The filing describes scholarship awards for graduating high school students in the listed counties, with additional counties included if necessary. See mission & focus areas ↑
How do I apply for a grant from Martin Jacob Scholarship Trust?
The final filing says to contact the Covington Community Foundation and return a scholarship application on forms prescribed by the Trust. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
Where does Martin Jacob Scholarship Trust make grants?
The filing lists graduating high school students from Fountain, Tippecanoe, Warren, Vermillion, Parke, and Montgomery Counties in Indiana, and Vermilion County in Illinois. It allows for additional counties if necessary and states a preference for candidates residing in Fountain County, Indiana.
How much is Martin Jacob Scholarship Trust required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Martin Jacob Scholarship Trust reported a distributable amount of $24K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Martin Jacob Scholarship Trust's EIN?
Martin Jacob Scholarship Trust's EIN (Employer Identification Number) is 46-3678854. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Martin Jacob Scholarship Trust funds
Education Open opportunities, soonest deadline first.
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