Rex and Alice A Martin Foundation Inc
The Rex and Alice A Martin Foundation is a private charitable foundation established in 2000 and based in Elkhart, Indiana. The foundation focuses on funding significant projects for children and community development, including parks, cultural institutions, and educational facilities, primarily in the Elkhart area and surrounding regions.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$7.6M
+6.2% YoY
Annual Giving
$997K
+33.7% YoY
Grant Count
20
+100.0% YoY
Avg Grant Size
$50K
-33.2% YoY
Mission & Focus Areas
The foundation's primary funding interests include:
- Education
- Science and STEM education
- Human services
- Philanthropy, voluntarism, and grantmaking
- General charitable purposes
The foundation demonstrates highly focused giving with 100% of funding dedicated to general charitable purposes, indicating deep expertise and committed investment in its chosen fields.
Grantmaking
The foundation demonstrates growth-minded grantmaking, with 70% of recent recipients being new grantees, indicating active interest in new partnerships and fresh approaches.
Grant Range
$1,500 to $2,000,000
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Geographic Focus
Where this funder awards grants
The foundation concentrates its giving primarily in Indiana, with 88% of all grants directed to the state. Within Indiana, funding is heavily concentrated in:
- Elkhart: 56% of grants
- South Bend: 21% of grants
- Notre Dame: 11% of grants
The foundation also makes grants in Michigan and Massachusetts.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent (Fiscal Year Ending June 2025):
- Total assets: $7,640,013
- Total revenues: $1,657,230
- Total expenses: $1,211,819
- Investment income and dividends: $221,555
- Net gain from sale of non-inventory assets: $235,575
Historical Assets:
- June 2024: $9,363,945
- 2013: $8,895,094
Funding Trajectory: The foundation has experienced a 65% decline in giving over the past 7 years, suggesting a more competitive application environment and potentially shifting foundation priorities.
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $7,640,013 | $7,194,602 | $7,554,032 |
| Revenue | $1,657,230 | $737,217 | $2,153,211 |
| Expenses | $1,211,819 | $1,096,647 | $2,013,800 |
| Qualifying Distributions | $1,140,272 | $1,030,573 | $1,962,063 |
| Net Investment Income | $395,583 | $671,125 | $1,501,474 |
| Distributable Amount | $487,394 | $453,164 | $456,489 |
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 2025
Grant Size Distribution
68 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Rex Martin - Founder and Chairman
- MBA from Massachusetts Institute of Technology
- Undergraduate degree from Indiana University
- Chairman of NIBCO, Inc. since 1975
- Director of Elkhart County Park Foundation, Inc.
- Former director positions at 1st Source Corporation (1996-2020), 1st Source Bank (1996-2020), All American Group, Inc., and Elkhart County Community Foundation
Alice A. Martin - Co-founder
- Passed away December 10, 2017
- Served on NIBCO board of directors since 2000
- Held positions including Vice Chairman of the Board (since 2002), Lead Director (2003-2005), Chief People Officer (2005-2015), and Chief Revenue Officer (2015-2017)
- Worked as strategic advisor alongside her husband for more than 30 years
Current Staff: The foundation operates with 3 employees.
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Alexis Martin-Klose | President & Director | 10 | $50,000 |
| Ashley Martin | Secretary, Treasurer & Director | 5 | $50,000 |
| Rex Martin | Director | 5 | $50,000 |
Contact Information
Address: 1516 Middlebury Street, Elkhart, IN 46516-4740
Phone: 574-295-3000
Website: www.rexandaliceamartin.org
EIN: 35-2117025
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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