Midwestone Bank Foundation
MidWestOne Bank Foundation is a private foundation based in Iowa City, Iowa. Founded in 2001, it supports nonprofit organizations through grants for community development, community services, arts, culture, youth, and education. The foundation says it will formally sunset in early 2026, with community support continuing through Nicolet National Bank and the Nicolet National Foundation.
Midwestone Bank Foundation at a glance
In short: Midwestone Bank Foundation gave $241K across 50 grants in 2025 (avg $5K), mostly in Iowa. 40% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $240,582
- +16.5% vs 2024
- Grants made (2025)
- 50
- +6.4% vs 2024
- Average grant
- $4,812
- +9.5% vs 2024
- Median grant
- $5,000
- Total assets
- $4,047,158
- +4.2% vs 2024
- New grantees (estimate)
- 40% first-time grantees (20 of 50, 2025)
- Primary geography
- Iowa (67% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Midwestone Bank Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: Co Len Devaisher PO Box 1700, Iowa City, IA 52244
Phone: (319) 356-5800
Website: https://midwestone.bank
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Midwestone Bank Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Dubuque Community Y ($15K). Together the top 10 received $66K.
Grant Size Distribution
260 grants across all recorded years
The most common grant size was under $50K: 260 grants of 260 (100%).
Geographic Focus
Where this funder awards grants
The 2025 filing reports grant dollars going primarily to Iowa (67%), followed by Wisconsin (20%), Minnesota (11%), and Colorado (2%). The foundation’s announcements describe support for communities across Iowa, Colorado, Minnesota, and Wisconsin.
Grant Distribution by State
Share of 2025 grant dollars across all 50 itemized grants.
Cities
Is Midwestone Bank Foundation open to new grantees?
40%
first-time grantees, 2025
In 2025, 20 of 50 grantees (40%) were first-time recipients. First grants averaged $5K; repeat grants $5K. How we count
Medians: $5K first-time, $5K repeat.
- 52% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+6%). Method
- In 2025 it paid out 104% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2019–2025). 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 2019 to 2025, annual grant giving ranged from $179K (2020) to $241K (2025). In 2025 it made 50 grants totaling $241K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Dubuque Community Y Dubuque, IA | Construction of New Building | $15,000 |
| Community Foundation of Johnson County Coralville, IA | North liberty centennial park: next stage charitable giving fund | $7,500 |
| Inspiring Community Inc Platteville, WI | Design and Construction of New Fire Station | $7,500 |
| City of Fennimore Fennimore, WI | Library Expansion and Remodeling Project | $6,250 |
| Anoka County Brotherhood Council Anoka, MN | Improvements to the Acbc Food Shelf | $5,000 |
| Bobcat Legacy Foundation Inc Peosta, IA | Installation of new turf field at western dubuque high in epworth, ia | $5,000 |
| Christian Community Development DBA Hous Waterloo, IA | New House of Hope Empowerment Center | $5,000 |
| City of Farley Farley, IA | General Operating Fund | $5,000 |
| City of Pella Pella, IA | City of Pella Recreation Center Project | $5,000 |
| Dyersville Industries Inc Dyersville, IA | Construction of a new building, playground equipment and capital improvements to the knepper child care center | $5,000 |
Ready to take the next step with Midwestone Bank 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 | $4,047,158 | $410,099 | $244,764 | $240,582 | 50 | $244,626 | $409,961 | $234,846 |
| 2024 | $3,882,963 | $260,690 | $210,179 | $206,457 | 47 | $208,255 | $155,170 | $221,576 |
| 2023 | $3,831,985 | $209,420 | $243,613 | $240,323 | 58 | $241,908 | $139,404 | $201,697 |
| 2022 | $3,867,410 | $401,897 | $239,542 | $226,627 | 53 | $228,067 | $125,299 | $198,660 |
| 2021 | $3,706,550 | $519,268 | $218,878 | $214,135 | 52 | $215,638 | $417,660 | $207,874 |
| 2020 | $3,406,514 | $224,010 | $182,904 | $178,840 | 47 | — | $123,155 | $184,688 |
| 2019 | $3,364,121 | $1,027,693 | $194,949 | $193,336 | 47 | — | $176,931 | $170,246 |
Under IRS private-foundation payout rules, Midwestone Bank Foundation reported a distributable amount of $235K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation describes its guiding belief as “strong communities are built through sustained, intentional investment.” Its stated focus areas include community development and services, arts and culture, and youth and education. Its website also describes support for arts, education, wellness, recreation, and civic services.
Grantees illustrate the range of organizations it supports. For example, the Dubuque Community Y says it creates opportunities for growth, leadership, and empowerment for women, men, and youth; Stepping Stone Emergency Housing says it provides emergency housing and support services to adults experiencing homelessness; and NewBo City Market says it fosters economic development by supporting entrepreneurs and artists. These are the grantees’ descriptions of their own missions.
Grantmaking
The 2025 IRS filing lists 50 grants totaling $240,582. Grants ranged from $1,500 to $15,000, with a median of $5,000. The largest listed award was $15,000 to Dubuque Community Y for construction of a new building. Other notable 2025 awards included $7,500 to Community Foundation of Johnson County for the North Liberty Centennial Park charitable giving fund and $7,500 to Inspiring Community Inc. for design and construction of a new fire station.
Those announcements described a yearly total of $367,000. These announced round figures are separate from the totals reported on the 2025 IRS filing.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Charles N Funk as president, Chip Reeves as vice president, Jenny Olson as secretary, and Tyler Kruse as treasurer. It lists Larry D Albert, Len Deva isher, Ruth Heinonen, and Elda Macias as directors.
Midwestone Bank Foundation is led by Charles N. Funk, President since 2022 (on filings since 2019); none of the 8 officers listed in 2025 report compensation.
Officers on the 2025 filing
Charles N. Funk
President
Vice President → President, 2022
On filings since 2019
1 hr/week
No compensation reported
Larry D. Albert
Director
On filings since 2019
1 hr/week
No compensation reported
Len Devaisher
Director
On filings since 2020
1 hr/week
No compensation reported
Elda Macias
Director
On filings since 2024
1 hr/week
No compensation reported
Ruth Heinonen
Director
New on the 2025 filing
1 hr/week
No compensation reported
Chip Reeves
Vice President
On filings since 2022
1 hr/week
No compensation reported
Jenny Olson
Secretary
New on the 2025 filing
1 hr/week
No compensation reported
Tyler Kruse
Treasurer
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (7)
- Former: Kevin W. Monson (2019–2024) — Director
- Former: Matt Walter (2019–2024) — Secretary & Treasurer
- Former: Ruth E. Stanoch (2019–2024) — Director
- Former: Peggy Hudson (2019–2023) — Director
- Former: Kurt R. Weise (2019–2021) — Director
- Former: Amy Hospodarsky (2019) — Secretary & Treasurer
- Former: Kevin Kramer (2019) — 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.
Frequently asked questions about Midwestone Bank Foundation
How much does Midwestone Bank Foundation give each year?
Midwestone Bank Foundation gave $241K across 50 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $206K across 47 grants.
What is Midwestone Bank Foundation's typical grant size?
Midwestone Bank Foundation's median grant in 2025 was $5,000, and its average grant was $4,812, across 50 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Midwestone Bank Foundation that year got $5K on average.
Where does Midwestone Bank Foundation give grants?
Midwestone Bank Foundation gives mostly in Iowa: 67% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were Wisconsin (20%) and Minnesota (11%). The most frequent recipient cities were Dubuque, IA (4 grants), Cedar Rapids, IA (4 grants), Iowa City, IA (4 grants) and Waterloo, IA (3 grants).
Does Midwestone Bank Foundation give general operating support?
Yes: 40% of Midwestone Bank Foundation's 2025 grants with a stated purpose (20 of 50) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Midwestone Bank Foundation's largest grantees?
Midwestone Bank Foundation's largest 2025 grantees include Dubuque Community Y ($15,000), Community Foundation of Johnson County ($7,500) and Inspiring Community Inc ($7,500), according to its 2025 IRS Form 990-PF. Together they received 12% of its itemized 2025 grant dollars.
How large is Midwestone Bank Foundation?
Midwestone Bank Foundation reported $4.0M in total assets on its 2025 IRS Form 990-PF. It paid out $245K in qualifying distributions that year, against a required minimum of $235K (roughly 5% of its investment assets).
What does Midwestone Bank Foundation fund?
The foundation describes its guiding belief as “strong communities are built through sustained, intentional investment.” Its stated focus areas include community development and services, arts and culture, and youth and education. See mission & focus areas ↑
How do I apply for a grant from Midwestone Bank Foundation?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Midwestone Bank Foundation's EIN?
Midwestone Bank Foundation's EIN (Employer Identification Number) is 75-3023674. IRS Form 990 filing data is available on this page for 2019–2025.
Does Midwestone Bank Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 14, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS May 14, 2026)
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 19, 2020)
- 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 13, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 7, 2024)
Explore Open Grants
Browse active grant opportunities in Midwestone Bank Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Midwestone Bank Foundation funder profile. GrantGraph. Retrieved October 15, 2026, from https://grantable.co/funders/midwestone-bank-foundation-morg_78b61479a2dd499682178296d08a3e45
BibTeX
@misc{grantable_753023674_2026,
author = {{Grantable}},
title = {{Midwestone Bank Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/midwestone-bank-foundation-morg_78b61479a2dd499682178296d08a3e45},
note = {Accessed 2026-10-15. 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 Midwestone Bank 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.
Midwestone Bank Foundation down — hundreds of funders to go?