The Preferred Mutual Insurance Company Foundation is a private foundation based in Norwich, New York. Its 2025 grants supported scholarships and organizations including a YMCA, a United Way, a hospital, a veterans’ services organization, arts groups, and educational institutions.
Key facts about Preferred Mutual Insurance Company Foundation
In short: Preferred Mutual Insurance Company Foundation gave $92K across 30 grants in 2025 (avg $3K), mostly in New York. 46% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 22-6423721
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $92,100
- Grants made (2025)
- 30
- Average grant
- $3,070
- Median grant
- $2,500
- New grantees (estimate)
- 46% first-time grantees (12 of 26, 2025)
- Total assets
- $582,558
- Primary geography
- New York (90% of itemized 2025 grant dollars)
- How to apply
- The foundation does not restrict giving to preselected organizations. Full details ↓
- Deadline
- April 12.
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$583K
-5.9% YoY
Annual Giving
$92K
-34.0% YoY
Grant Count
30
+3.4% YoY
Avg Grant Size
$3K
-36.2% YoY
Under IRS private-foundation payout rules, Preferred Mutual Insurance Company Foundation reported a distributable amount of $35K for 2025 — the minimum it must pay out in qualifying distributions.
Is Preferred Mutual Insurance Company Foundation open to new grantees?
46%
first-time grantees, 2025
In 2025, 12 of 26 grantees (46%) were first-time recipients. First grants averaged $3K; repeat grants $3K. How we count
Medians: $3K first-time, $3K repeat.
- 54% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+7%). Method
- In 2025 it paid out 268% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
No mission statement for the foundation is provided. Its grants show support for education, community services, health care, veterans, and the arts. For example, United Way of Mid Rural New York describes its work as building partnerships and maximizing resources to improve residents’ quality of life in income, education, and health. Chenango Memorial Hospital says it provides inpatient, outpatient, and emergency care in Norwich and surrounding counties. Clear Path for Veterans describes its work as connecting and supporting military members, veterans, and their families.
Arts grantees include the Chenango County Blues Association, which says it presents musical events to foster appreciation of American music, and Earlville Opera House, which describes its purpose as maintaining a historic building for performing arts.
Grantmaking
In 2025, the foundation made 30 grants totaling $92,100. Grant amounts ranged from $1,000 to $10,000, with a median of $2,500. Its largest grants included $10,000 each to Norwich YMCA for unrestricted general support and United Way of Mid Rural New York for general operating support. Other notable grants were $6,000 to Dartmouth University for a scholarship; $5,000 each to Chenango Memorial Hospital for unrestricted general support and Clear Path for Veterans for general operating support; and $4,000 to the Chenango County Blues Association for general operating support. The foundation also awarded scholarships to several colleges and universities.
Review Cycle
April 12.
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Geographic Focus
Where this funder awards grants
In 2025, 90% of grant dollars went to recipients in New York, 7% to New Hampshire, 2% to New Jersey, and 2% to Pennsylvania. The percentages may not total 100% because of rounding.
Grant Distribution by State
Share of 2025 grant dollars across all 30 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $86K (2022) to $187K (2023). In 2025 it made 30 grants totaling $92K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Norwich YMCA ($10K). Together the top 10 received $53K.
Organizations only. It also paid 4 individual scholarships ($7,000), which are not listed by name.
Grant Size Distribution
150 grants across all recorded years
The most common grant size was under $50K: 147 grants of 150 (98%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Norwich YMCA Norwich, NY | Unrestricted - General | $10,000 |
| United Way of Mid Rural New York Norwich, NY | General Operating | $10,000 |
| Dartmouth University Hanover, NH | Scholarship | $6,000 |
| Chenango Memorial Hospital Norwich, NY | Unrestricted - General | $5,000 |
| Clear Path for Veterans Chittenango, NY | General Opertaing | $5,000 |
| Chenango County Blues Association Norwich, NY | General Operating | $4,000 |
| Chenango County Council of Arts Norwich, NY | General Operating | $3,500 |
| Unadilla Valley Central School New Berlin, NY | Uvcs RIF Program | $3,100 |
| Rensselaer Polytechnic Institute Troy, NY | Scholarship | $3,000 |
| Ithaca College Ithaca, NY | Scholarship | $3,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Grant total | Number of grants |
|---|---|---|
| 2025 | $92,100 | 30 |
| 2024 | $139,600 | 29 |
| 2023 | $186,850 | 33 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $582,558 | $619,154 | $692,078 |
| Revenue | $58,388 | $68,509 | $42,934 |
| Expenses | $94,989 | $141,290 | $188,160 |
| Qualifying Distributions | $93,522 | $140,430 | $187,680 |
| Net Investment Income | $58,044 | $56,041 | $31,321 |
| Distributable Amount | $34,833 | $36,408 | $39,475 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 7, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 7, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 8, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 7, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 6, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 6, 2026)
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists NBT Bank NA as trustee, and R Benedikt Sander, Pauline Ashworth, and Jeffrey Fasoldt as directors/committee members.
Preferred Mutual Insurance Company Foundation's 2025 filing lists 4 officers; none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
NBT Bank NA
Trustee
On filings since 2020
1 hr/week
No compensation reported
R Benedikt Sander
Director & Committee Member
On filings since 2022
1 hr/week
No compensation reported
Jeffrey Fasoldt
Director & Committee Member
On filings since 2024
1 hr/week
No compensation reported
Pauline Ashworth
Director & Committee Member
On filings since 2024
1 hr/week
No compensation reported
Former officers (8)
- Former: David Smith (2022–2023) — Director & Committee Member
- Former: Jeffrey Lopata (2022–2023) — Director & Committee Member
- Former: Jessica White (2022–2023) — Director & Committee Member
- Former: Amy Law (2020–2021) — Director & Cmte Member
- Former: Christopher P. Taft (2020–2021) — Director & Cmte Member
- Former: Eugene T. Heaney (2020–2021) — Director & Cmte Member
- Former: Jessica Solomon (2020–2021) — Director & Cmte Member
- Former: Martin Doto (2020–2021) — Director & Cmte Member
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.
Contact
Application contact: Preferred Mutual Insurance Co
Mailing address: C/O Stacy Smith One Preferred Way, New Berlin, NY 13411
Phone: (800) 333-7642
Frequently asked questions about Preferred Mutual Insurance Company Foundation
How much does Preferred Mutual Insurance Company Foundation give each year?
Preferred Mutual Insurance Company Foundation gave $92K across 30 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $140K across 29 grants.
What is Preferred Mutual Insurance Company Foundation's typical grant size?
Preferred Mutual Insurance Company Foundation's median grant in 2025 was $2,500, and its average grant was $3,070, across 30 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Preferred Mutual Insurance Company Foundation that year got $3K on average.
Where does Preferred Mutual Insurance Company Foundation give grants?
Preferred Mutual Insurance Company Foundation gives mostly in New York: 90% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was New Hampshire (7%). The most frequent recipient cities were Norwich, NY (6 grants), New Berlin, NY (3 grants), Ithaca, NY (2 grants) and Cooperstown, NY (2 grants).
Does Preferred Mutual Insurance Company Foundation give general operating support?
Yes: 53% of Preferred Mutual Insurance Company Foundation's 2025 grants with a stated purpose (16 of 30) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Scholarship" (12 grants).
Who are Preferred Mutual Insurance Company Foundation's largest grantees?
Preferred Mutual Insurance Company Foundation's largest 2025 grantees include Norwich YMCA ($10,000), United Way of Mid Rural New York ($10,000) and Dartmouth University ($6,000), according to its 2025 IRS Form 990-PF. It also paid 4 individual scholarships ($7,000), which are not listed by name. Together they received 28% of its itemized 2025 grant dollars.
How large is Preferred Mutual Insurance Company Foundation?
Preferred Mutual Insurance Company Foundation reported $583K in total assets on its 2025 IRS Form 990-PF. It paid out $94K in qualifying distributions that year, against a required minimum of $35K (roughly 5% of its investment assets).
What does Preferred Mutual Insurance Company Foundation fund?
No mission statement for the foundation is provided. Its grants show support for education, community services, health care, veterans, and the arts. See mission & focus areas ↑
How do I apply for a grant from Preferred Mutual Insurance Company Foundation?
The foundation does not restrict giving to preselected organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Preferred Mutual Insurance Company Foundation's EIN?
Preferred Mutual Insurance Company Foundation's EIN (Employer Identification Number) is 22-6423721. 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. Research dossier generated September 2026.
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