Michels Family Educational Trust
Michels Family Educational Trust is a private foundation, based in Muscatine, IA. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $18K in total assets. In 2025, it awarded 4 grants totaling $4K. Net investment income was $8K.
Michels Family Educational Trust at a glance
In short: Michels Family Educational Trust gave $4K across 4 grants in 2025 (avg $1K), mostly in Iowa. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $4,000
- -55.6% vs 2024
- Grants made (2025)
- 4
- +0.0% vs 2024
- Average grant
- $1,000
- -55.6% vs 2024
- Median grant
- $1,000
- Total assets
- $17,879
- -93.8% vs 2024
- Primary geography
- Iowa (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 Michels Family Educational Trust funds
How this funder distributes its grants
Grant Size Distribution
31 grants across all recorded years
The most common grant size was under $50K: 31 grants of 31 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 4 itemized grants.
States
Cities
How Michels Family Educational Trust gives
- Giving fell 71% from 2022 to 2025. Method
- In 2025 it paid out 22% 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 2025, annual grant giving ranged from $4K (2025) to $31K (2021). In 2025 it made 4 grants totaling $4K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 4 individual scholarships Recipients not named | — | $4,000 |
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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 | $17,879 | $10,880 | $5,280 | $4,000 | 4 | $3,322 | $7,558 | $14,924 |
| 2024 | $289,032 | $9,270 | $13,606 | $9,000 | 4 | $2,978 | $7,672 | $16,538 |
| 2023 | $295,897 | $90,187 | $17,363 | $7,500 | 5 | $15,861 | $87,326 | $13,777 |
| 2022 | $237,164 | $17,755 | $18,587 | $14,000 | 5 | $16,981 | $10,492 | $15,185 |
| 2021 | $225,613 | $20,205 | $35,294 | $30,500 | 13 | $33,590 | $17,115 | $16,622 |
| 2020 | $240,711 | $18,265 | $11,318 | $7,000 | 5 | — | $3,388 | $14,706 |
Under IRS private-foundation payout rules, Michels Family Educational Trust reported a distributable amount of $15K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Michels Family Educational Trust's only listed officer is Midwestone Bank, Trustee on every filing since 2022 (uncompensated).
Officers on the 2025 filing
Midwestone Bank
Trustee
On filings since 2022
3 hrs/week
No compensation reported
Former officers (1)
- Former: First National Bank (2020–2021) — Trustee
Data from IRS Form 990 filings, 2020–2025. "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 Michels Family Educational Trust
How much does Michels Family Educational Trust give each year?
Michels Family Educational Trust gave $4K across 4 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $9K across 4 grants.
What is Michels Family Educational Trust's typical grant size?
Michels Family Educational Trust's median grant in 2025 was $1,000, and its average grant was $1,000, across 4 grants on its 2025 IRS Form 990-PF.
Where does Michels Family Educational Trust give grants?
Michels Family Educational Trust gives mostly in Iowa: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does Michels Family Educational Trust give general operating support?
Not in 2025: none of the 4 grants with a stated purpose on Michels Family Educational Trust's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarship" (4 grants).
How large is Michels Family Educational Trust?
Michels Family Educational Trust reported $18K in total assets on its 2025 IRS Form 990-PF. It paid out $3K in qualifying distributions that year, against a required minimum of $15K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Michels Family Educational Trust's EIN?
Michels Family Educational Trust's EIN (Employer Identification Number) is 42-6570941. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 10, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 18, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 3, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS September 25, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS March 23, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 2, 2026)
- IRS filings on file for fiscal years 2020–2025
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