Prospect Bank Foundation
Prospect Bank Foundation is a private foundation, based in PARIS, IL. IRS filing data is available from 2021 through 2024. In 2024, it awarded 17 grants totaling $17K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
-100.0% YoY
Annual Giving
$17K
+12.6% YoY
Grant Count
17
+70.0% YoY
Avg Grant Size
$1K
-33.8% YoY
Under IRS private-foundation payout rules, Prospect Bank Foundation reported a distributable amount of $128 for 2024 — the minimum it must pay out in qualifying distributions.
About Prospect Bank Foundation
Based on IRS filings
Prospect Bank Foundation is a private foundation, based in PARIS, IL. IRS filing data is available from 2021 through 2024. In 2024, it awarded 17 grants totaling $17K.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | $5,178 | $13,553 |
| Revenue | $11,832 | $7,585 | $39,254 |
| Expenses | $17,010 | $15,960 | $32,955 |
| Qualifying Distributions | $17,010 | $15,960 | $32,955 |
| Net Investment Income | — | — | — |
| Distributable Amount | $128 | $461 | $559 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
106 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Kaleb Kelly ($1,000), Sydni Adams ($1,000), Kendall Newhart ($1,000).
| Recipient | Purpose | Amount |
|---|---|---|
| KALEB KELLY PARIS, IL | SCHOLARSHIP | $1,000 |
| SYDNI ADAMS OLIVER, IL | SCHOLARSHIP | $1,000 |
| KENDALL NEWHART PARIS, IL | SCHOLARSHIP | $1,000 |
| AVA HUDDLESON MILWAUKEE, WI | SCHOLARSHIP | $1,000 |
| BAILEY ROSE KANSAS, IL | SCHOLARSHIP | $1,000 |
| ELIZABETH ROSE KANSAS, IL | SCHOLARSHIP | $1,000 |
| OLIVIA THEIRL CHARLESTON, IL | SCHOLARSHIP | $1,000 |
| WILLIAM ROSS MARSHALL, IL | SCHOLARSHIP | $1,000 |
| MCKINSEY TATE PARIS, IL | SCHOLARSHIP | $1,000 |
| EMILY KATE HALL BROCTON, IL | SCHOLARSHIP | $1,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ROBERT MORGAN | PRESIDENT | 2 | — |
| CATHY MORGAN | VICE PRESIDE | 2 | — |
| TAMRA INMAN | SEC/TREAS | 2 | — |
Frequently Asked Questions
Where does Prospect Bank Foundation operate?
Prospect Bank Foundation has awarded grants in Illinois, Indiana, Wisconsin.
What size grants does Prospect Bank Foundation award?
In 2024, Prospect Bank Foundation awarded 17 grants totaling $17K — an average of about $1K per grant, based on its IRS Form 990 filings.
How much is Prospect Bank Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Prospect Bank Foundation reported a distributable amount of $128 on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Prospect Bank Foundation's EIN?
Prospect Bank Foundation's EIN (Employer Identification Number) is 37-1286227. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in Prospect Bank Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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