TO BENEFIT AND SUPPORT THE ACTIVITIES OF INDEPENDENCE COMMUNITY SCHOOL DISTRICT.
Key facts about Mustang Foundation Inc
In short: Mustang Foundation Inc gave $71K across 4 grants in 2025 (avg $18K), mostly in Iowa. Source: 2025 IRS Form 990.
- EIN
- 42-1429135
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $70,877
- Grants made (2025)
- 4
- Average grant
- $17,719
- Median grant
- $12,301
- Total assets
- $2,002,608
- Primary geography
- Iowa (100% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026.
Quick answers about Mustang Foundation Inc
How much does Mustang Foundation Inc give each year?
Mustang Foundation Inc gave $71K across 4 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $153K across 4 grants.
What is Mustang Foundation Inc's typical grant size?
Mustang Foundation Inc's median grant in 2025 was $12,301, and its average grant was $17,719, across 4 grants on its 2025 IRS Form 990.
Where does Mustang Foundation Inc give grants?
Mustang Foundation Inc gives mostly in Iowa: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Independence, IA (3 grants).
Does Mustang Foundation Inc give general operating support?
Not in 2025: none of the 4 grants with a stated purpose on Mustang Foundation Inc's 2025 IRS Form 990 were described as general or operating support.
How large is Mustang Foundation Inc?
Mustang Foundation Inc reported $2.0M in total assets on its 2025 IRS Form 990. Its revenue that year was $761K.
How Mustang Foundation Inc gives
- Giving fell 56% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Next steps with Mustang Foundation Inc
- How to evaluate Mustang Foundation Inc as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
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Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$2.0M
+53.6% YoY
Annual Giving
$71K
-53.8% YoY
Grant Count
4
+0.0% YoY
Avg Grant Size
$18K
-53.8% YoY
About Mustang Foundation Inc
Based on IRS filings
Mustang Foundation Inc is a nonprofit organization focused on Education, based in Independence, IA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $2.0M in total assets. In 2025, it awarded 4 grants totaling $71K. Net investment income was $130K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 4 itemized 2025 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $2,002,608 | $1,303,538 | $1,144,966 |
| Revenue | $760,753 | $385,055 | $80,918 |
| Expenses | $151,872 | $264,010 | $123,236 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $129,723 | $18,234 | $16,211 |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS November 23, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS April 29, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 2, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 2, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 7, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS April 16, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 7, 2026)
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2025
Grant Size Distribution
21 grants across all recorded years
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| INDEPENDENCE COMMUNITY SCHOOL Independence, IA | BUILDING & SCHOOL | $40,258 |
| NUTRIEN AG SOLUTIONS Independence, IA | FUNDRAISER | $14,914 |
| ICSD AG ED MICHAEL HADEN Independence, IA | AGRICULTURE EDUCATION | $9,687 |
| MINNTEX CITRUS INC Monticello, IA | FUNDRAISER | $6,018 |
Leadership & Key People
Officers and directors from IRS filings
Mustang Foundation Inc's 2025 filing lists 11 officers; none of the 11 officers listed in 2025 report compensation.
Officers on the 2025 filing
Andy Hauber
Director
On filings since 2019
1 hr/week
No compensation reported
Bryan Palmer
Director
On filings since 2019
1 hr/week
No compensation reported
Charlie McCardle
Director
On filings since 2019
1 hr/week
No compensation reported
Jeremy Hahn
Director
On filings since 2019
1 hr/week
No compensation reported
Megan Rasmussen
Director
On filings since 2019
1 hr/week
No compensation reported
Brad Kegler
Director
On filings since 2024
1 hr/week
No compensation reported
Cody Barnes
Director
On filings since 2024
1 hr/week
No compensation reported
Michael Haden
Director
On filings since 2024
1 hr/week
No compensation reported
Ray Dostal
Director
On filings since 2024
1 hr/week
No compensation reported
Rob Robinson
Treasurer
On filings since 2019
10 hrs/week
No compensation reported
Kathryn Jetter
Secretary
Director → Secretary, 2025
On filings since 2024
1 hr/week
No compensation reported
Former officers (9)
- Former: Lans Flickinger (2019–2024) — Secretary
- Former: Dan Kegler (2019–2023) — Director
- Former: Gina Deboer (2019–2023) — Director
- Former: Lloyd Davis (2019–2023) — Director
- Former: Eric Smith (2022–2023) — Director
- Former: Jennifer Sornson (2019–2021) — Director
- Former: Kim Hansen (2019–2021) — Director
- Former: Katie Grover (2019–2020) — Director
- Former: Meredith Miller (2019) — President
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.
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Mustang Foundation Inc?
Mustang Foundation Inc is a nonprofit organization focused on Education, based in Independence, IA. It holds $2.0M in total assets as of 2025.
What is Mustang Foundation Inc's EIN?
Mustang Foundation Inc's EIN (Employer Identification Number) is 42-1429135. IRS Form 990 filing data is available on this page for 2019–2025.
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Data last updated September 2026. Sourced from IRS Form 990 filings.