Richard & Betty Heiser Scholarship Trust
The Richard & Betty Heiser Scholarship Trust is a private foundation based in South Bend, Indiana. Its 2025 filing reports scholarship grants to individual recipients.
Key facts about Richard & Betty Heiser Scholarship Trust
In short: Richard & Betty Heiser Scholarship Trust gave $54K across 41 grants in 2025 (avg $1K), mostly in Indiana. Source: 2025 IRS Form 990-PF.
- EIN
- 35-6794889
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $54,250
- Grants made (2025)
- 41
- Average grant
- $1,323
- Median grant
- $1,000
- Total assets
- $1,108,638
- Primary geography
- Indiana (98% of itemized 2025 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Full details ↓
Data from IRS Form 990-PF, 2025; updated October 2026. 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
$1.1M
+0.9% YoY
Annual Giving
$54K
+3.3% YoY
Grant Count
41
-8.9% YoY
Avg Grant Size
$1K
+13.4% YoY
Under IRS private-foundation payout rules, Richard & Betty Heiser Scholarship Trust reported a distributable amount of $59K for 2025 — the minimum it must pay out in qualifying distributions.
How Richard & Betty Heiser Scholarship Trust gives
- Giving held roughly steady from 2022 to 2025 (−15%). Method
- In 2025 it paid out 95% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Mission & Focus Areas
The available information does not state a formal mission. The 2025 grants listed are for scholarships.
Grantmaking
In 2025, the trust made 41 grants totaling $54,250. Grant amounts ranged from $500 to $2,500, with a median grant of $1,000. The largest listed awards were four grants of $2,500 and eight grants of $2,000, all to individual recipients for scholarships.
How to Apply
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
Ready to take the next step with Richard & Betty Heiser Scholarship Trust?
Geographic Focus
Where this funder awards grants
In 2025, 98% of grant dollars went to recipients in Indiana and 2% to recipients in Kentucky.
Grant Distribution by State
Share of 2025 grant dollars across all 41 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $48K (2019) to $64K (2022). In 2025 it made 41 grants totaling $54K.
Grant Insights
How this funder distributes its grants
Grant Size Distribution
232 grants across all recorded years
The most common grant size was under $50K: 232 grants of 232 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 41 individual scholarships Recipients not named | — | $54,250 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grant sum | Grant count |
|---|---|---|---|---|---|
| 2025 | $1,108,638 | $79,486 | $69,866 | $54,250 | 41 |
| 2024 | $1,099,130 | $121,817 | $65,862 | $52,500 | 45 |
| 2023 | $1,043,535 | $59,000 | $72,425 | $57,500 | 48 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $1,108,638 | $1,099,130 | $1,043,535 |
| Revenue | $79,486 | $121,817 | $59,000 |
| Expenses | $69,866 | $65,862 | $72,425 |
| Qualifying Distributions | $55,708 | $53,141 | $57,500 |
| Net Investment Income | $66,027 | $112,947 | $54,690 |
| Distributable Amount | $58,637 | $55,708 | $54,283 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS May 4, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 4, 2026)
- IRS filings on file for fiscal years 2019–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Jacob Singleton Principal, Joella Depra, and Mitch Mawhorter as committee members, and 1st Source Bank as trustee.
Richard & Betty Heiser Scholarship Trust's 2025 filing lists 4 officers; 1 of 4 officers listed in 2025 is compensated.
Officers on the 2025 filing
1st Source Bank
Trustee
On filings since 2019
1 hr/week
$11K (2019) → $12K (2025)
Joella Depra
Committee Member
On filings since 2019
1 hr/week
No compensation reported
Mitch Mawhorter
Committee Member
On filings since 2021
1 hr/week
No compensation reported
Jacob Singleton Principal
Committee Member
On filings since 2023
1 hr/week
No compensation reported
Former officers (3)
- Former: James Condon Principal (2019–2022) — Committee Member
- Former: Stacy Sheetz (2021–2022) — Committee Member
- Former: Andy Harley Superintendent (2019–2020) — Committee Member
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $12K, to 1ST Source Bank (Trustee).
Contact
Mailing address: PO Box 1602, South Bend, IN 46634
Phone: (574) 235-2952
Frequently asked questions about Richard & Betty Heiser Scholarship Trust
How much does Richard & Betty Heiser Scholarship Trust give each year?
Richard & Betty Heiser Scholarship Trust gave $54K across 41 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $53K across 45 grants.
What is Richard & Betty Heiser Scholarship Trust's typical grant size?
Richard & Betty Heiser Scholarship Trust's median grant in 2025 was $1,000, and its average grant was $1,323, across 41 grants on its 2025 IRS Form 990-PF.
Where does Richard & Betty Heiser Scholarship Trust give grants?
Richard & Betty Heiser Scholarship Trust gives mostly in Indiana: 98% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does Richard & Betty Heiser Scholarship Trust give general operating support?
Not in 2025: none of the 41 grants with a stated purpose on Richard & Betty Heiser Scholarship Trust's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarship" (41 grants).
How large is Richard & Betty Heiser Scholarship Trust?
Richard & Betty Heiser Scholarship Trust reported $1.1M in total assets on its 2025 IRS Form 990-PF. It paid out $56K in qualifying distributions that year, against a required minimum of $59K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Richard & Betty Heiser Scholarship Trust fund?
The available information does not state a formal mission. The 2025 grants listed are for scholarships. See mission & focus areas ↑
How do I apply for a grant from Richard & Betty Heiser Scholarship Trust?
The foundation states that it 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 ↑
What is Richard & Betty Heiser Scholarship Trust's EIN?
Richard & Betty Heiser Scholarship Trust's EIN (Employer Identification Number) is 35-6794889. IRS Form 990 filing data is available on this page for 2019–2025.
Does Richard & Betty Heiser Scholarship Trust accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Here's the math on researching Richard & Betty Heiser Scholarship Trust by hand.
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