Mutualbank Charitable Foundation Inc
MUTUALBANK CHARITABLE FOUNDATION is a private foundation based in Muncie, Indiana. Its 2022 filing reports 22 grants totaling $7,747,230 to organizations in Indiana. The foundation’s 2021 IRS return is marked as its final return, so it appears to have wound down or stopped grantmaking, although the filing data also reports grant activity for 2022.
Mutualbank Charitable Foundation Inc at a glance
In short: Mutualbank Charitable Foundation Inc gave $7.7M across 22 grants in 2022 (avg $352K), mostly in Indiana. 45% of 2022 grantees were new. Source: 2022 IRS Form 990-PF.
- Annual giving (2022)
- $7,747,230
- +2571.5% vs 2021
- Grants made (2022)
- 22
- -18.5% vs 2021
- Average grant
- $352,147
- +3178.6% vs 2021
- Median grant
- $10,000
- New grantees (estimate)
- 45% first-time grantees (9 of 20, 2022; small sample)
- Primary geography
- Indiana (100% of itemized 2022 grant dollars)
- Latest 990 filing
- Form 990-PF, 2022 View filing
Data from IRS Form 990-PF, 2022; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Mutualbank Charitable Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. No application materials or other application process details are provided.
- Contact
Mailing address: 110 E Charles St, Muncie, IN 47305
Phone: (765) 747-2945
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Mutualbank Charitable Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2022
The largest 2022 recipient was Community Foundation of Muncie & Delaware County Inc ($7.0M). Together the top 10 received $7.7M.
Grant Size Distribution
82 grants across all recorded years
The most common grant size was under $50K: 74 grants of 82 (90%).
Geographic Focus
Where this funder awards grants
All grant dollars reported for 2022 went to recipients in Indiana. Listed recipients include organizations in Muncie, Warsaw, and Winchester.
Grant Distribution by State
Share of 2022 grant dollars across all 22 itemized grants.
States
Cities
Is Mutualbank Charitable Foundation Inc open to new grantees?
45%
first-time grantees, 2022
In 2022, 9 of 20 grantees (45%) were first-time recipients. With only 20 grantees, that is a small sample: one grantee more or less moves the share by about 5 points. First grants averaged $815K; repeat grants $38K. How we count
Medians: $25K first-time, $6K repeat.
- 55% of 2022 grantees were also funded in 2021. Method
- In 2022 it paid out well above its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2022). 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 2020 to 2022, annual grant giving ranged from $290K (2021) to $7.7M (2022). In 2022 it made 22 grants totaling $7.7M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Community Foundation of Muncie & Delaware County Inc Muncie, IN | Further Exempt Purpose of Recipient | $6,951,230 |
| Ball State University-MCS Muncie, IN | Further Exempt Purpose of Recipient | $250,000 |
| YMCA of Muncie Muncie, IN | Further Exempt Purpose of Org | $250,000 |
| Muncie Children's Museum Muncie, IN | Further Exempt Purpose of Recipient | $80,000 |
| Kosciusko County Community Foundation Inc Warsaw, IN | Further Exempt Purpose of Org | $50,000 |
| Uway- Delaware Muncie, IN | Further Exempt Purpose of Recipient | $42,000 |
| Muncie Mission Ministries Muncie, IN | Further Exempt Purpose of Org | $25,000 |
| Cardinal Greenways Muncie, IN | Further Expempt Purpose of Recipient | $25,000 |
| Ball State University-MCS Muncie, IN | Further Exempt Purpose of Recipient | $11,000 |
| Urban Light Community Development Muncie, IN | Further Exempt Purpose of Org | $10,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2022 | — | $4,786,035 | $7,650,739 | $7,747,230 | 22 | $7,757,131 | $287,432 | $370,925 |
| 2021 | $7,688,333 | $386,994 | $378,624 | $290,000 | 27 | — | $382,409 | $340,758 |
| 2020 | $5,957,131 | $283,369 | $274,095 | $392,075 | 33 | — | $228,945 | $370,368 |
Under IRS private-foundation payout rules, Mutualbank Charitable Foundation Inc reported a distributable amount of $371K for 2022 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its reported 2022 grantees include educational, cultural, human-services, community-foundation, and economic-development organizations. For example, Muncie Children’s Museum says it operates a children’s museum and provides hands-on learning opportunities; Muncie Mission Ministries says it serves homeless and very poor people in east central Indiana; and Muncie Arts & Culture Council says it supports arts integration, community among artists, and professional growth. These are descriptions of the grantees’ missions, not the foundation’s.
Grantmaking
In 2022, the foundation reported 22 grants totaling $7,747,230. Grant amounts ranged from $1,000 to $6,951,230, with a median grant of $10,000. The largest grant, $6,951,230, went to Community Foundation of Muncie & Delaware County. Other large grants included $250,000 each to Ball State University-MCS and YMCA of Muncie, and $80,000 to Muncie Children’s Museum.
Other reported 2022 recipients included Kosciusko County Community ($50,000), UWAY-Delaware ($42,000), Muncie Mission Ministries ($25,000), Cardinal Greenways ($25,000), Urban Light Community Development ($10,000), Muncie Arts & Culture Council ($10,000), and Community Foundation of Randolph ($10,000). Additional grantees described in 2022 recipient information include East Central Indiana Regional ($5,000) and Muncie Sports Commission ($2,500).
Leadership & Key People
Leadership team and compensation from IRS filings
The 2022 filing lists Dave Heeter as president; Christopher Cook as vice president/treasurer; Melissa Greer as secretary; R Donn Roberts as chairman; and Linn Crull, Sara Shade Hamilton, and Carol Seals as directors.
Mutualbank Charitable Foundation Inc is led by Dave Heeter, President on every filing since 2020; 1 of 7 officers listed in 2022 is compensated.
Officers on the 2022 filing
Dave Heeter
President
On filings since 2020
1 hr/week
No compensation reported
R. Donn Roberts
Chairman
On filings since 2020
1 hr/week
No compensation reported
Sara Shade Hamilton
Director
On filings since 2020
1 hr/week
$1K (2020) → $1K (2022)
Carol Seals
Director
On filings since 2020
1 hr/week
No compensation reported
Linn Crull
Director
On filings since 2020
1 hr/week
No compensation reported
Christopher Cook
Vice President
Treasurer → Vice President, 2021
On filings since 2020
1 hr/week
No compensation reported
Melissa Greer
Secretary
On filings since 2020
1 hr/week
No compensation reported
Former officers (3)
- Former: Sam Abram (2020–2021) — Director
- Former: Chris Caldwell (2020) — Secretary
- Former: Jaime Faulkner (2020) — Vice President
Data from IRS Form 990 filings, 2020–2022. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2022 IRS filing
The highest reported compensation on the 2022 filing was $1K, to Sara Shade Hamilton (Director).
Frequently asked questions about Mutualbank Charitable Foundation Inc
How much does Mutualbank Charitable Foundation Inc give each year?
Mutualbank Charitable Foundation Inc gave $7.7M across 22 grants in 2022, according to its 2022 IRS Form 990-PF. In 2021 it gave $290K across 27 grants.
What is Mutualbank Charitable Foundation Inc's typical grant size?
Mutualbank Charitable Foundation Inc's median grant in 2022 was $10,000, and its average grant was $352,147, across 22 grants on its 2022 IRS Form 990-PF. Organizations receiving their first grant from Mutualbank Charitable Foundation Inc that year got $815K on average.
Where does Mutualbank Charitable Foundation Inc give grants?
Mutualbank Charitable Foundation Inc gives mostly in Indiana: 100% of the grant dollars itemized on its 2022 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Muncie, IN (13 grants) and Warsaw, IN (2 grants).
Who are Mutualbank Charitable Foundation Inc's largest grantees?
Mutualbank Charitable Foundation Inc's largest 2022 grantees include Community Foundation of Muncie & Delaware County Inc ($6,951,230), Ball State University-MCS ($261,000 across 2 grants) and YMCA of Muncie ($250,000), according to its 2022 IRS Form 990-PF. Together they received 96% of its itemized 2022 grant dollars.
What does Mutualbank Charitable Foundation Inc fund?
No mission statement for the foundation is provided. Its reported 2022 grantees include educational, cultural, human-services, community-foundation, and economic-development organizations. See mission & focus areas ↑
How do I apply for a grant from Mutualbank Charitable Foundation Inc?
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 ↑
How much is Mutualbank Charitable Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2022, Mutualbank Charitable Foundation Inc reported a distributable amount of $371K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Mutualbank Charitable Foundation Inc's EIN?
Mutualbank Charitable Foundation Inc's EIN (Employer Identification Number) is 35-2064221. IRS Form 990 filing data is available on this page for 2020–2022.
Does Mutualbank Charitable Foundation Inc 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
(4)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS January 8, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS October 21, 2021)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 15, 2023)
- IRS filings on file for fiscal years 2020–2022
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The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open
Figures come from Mutualbank Charitable Foundation Inc'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.
Mutualbank Charitable Foundation Inc down — hundreds of funders to go?