Richard O Jacobson Foundation

DES MOINES, IA EIN: 51-0192624

The Richard O Jacobson Foundation is a private 501(c)(3) foundation established in 1976 by Richard Orrin "Dick" Jacobson, a distinguished businessman and philanthropist. Based in Des Moines, Iowa, the foundation continues the philanthropic legacy of its founder, who built The Jacobson Companies into one of the largest privately-owned warehouse organizations in the nation with more than 9,000 employees and 194 locations before his death in April 2016 at age 79.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$66.7M

+202.0% YoY

Annual Giving

$370K

-91.2% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$123K

-91.2% YoY

Under IRS private-foundation payout rules, Richard O Jacobson Foundation reported a distributable amount of $3.0M for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation has focused for more than 45 years on supporting:

Education at all levels
Youth development programs
Medical research
Healthcare expansion and improvement

Grantmaking

Grant Range

$50,000 - $1,100,000

Average Grant

approximately $6,000

Review Cycle

or application form; direct contact preferred

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Geographic Focus

Where this funder awards grants

The foundation funds projects in:

Iowa (primary focus)
Minnesota
Florida (particularly Pinellas County)
Specific cities include: Belmond, Clearwater, Des Moines, Iowa City, Largo, and Saint Peter

Grant Distribution by State

Iowa $21.8M (88%)

Minnesota $2.2M (9%)

Florida $755K (3%)

States

Florida Iowa Minnesota

Cities

AmesBelmondClearwaterDes MoinesIowa CityLargoSaint Peter

Financial History

Multi-year comparison from IRS filings

Most Recent (Fiscal Year Ending October 2024):

Total Assets: $66,699,452
Total Revenue: $45,000,589
Total Expenses: $384,397
Total Liabilities: $0
Total Giving: $370,125

Revenue Breakdown (FY 2024):

Grants and contributions: $42,659,555
Investment income and dividends: $2,341,034

Historical Context (2020):

Total Assets: $12.5 million
Annual Giving: $8.8 million

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$66,699,452	$22,083,260	$24,841,991
Revenue	$45,000,589	$1,486,333	$13,826,505
Expenses	$384,397	$4,245,064	$8,888,601
Qualifying Distributions	$376,785	$4,223,835	$8,865,479
Net Investment Income	$2,340,549	$485,906	$72,503
Distributable Amount	$3,041,571	$1,210,994	$1,125,150

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 3 recipients in 2024

Grant Size Distribution

25 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Chapel by the Sea ($260,000), Pinellas Education Foundation ($100,000), Scholarship America ($10,125).

Recipient	Purpose	Amount
Scholarship America Saint Peter, MN	Contribution	$10,125
Chapel by the Sea Clearwater, FL	Contribution	$260,000
Pinellas Education Foundation Largo, FL	Contribution	$100,000

Leadership & Key People

Leadership team and compensation from IRS filings

Chairman and CEO: Bruce L. Rastetter
Vice President: Carlton T. King
Treasurer: Mark N. Larson
Secretary: Will J. Hoekman

All key personnel serve without compensation.

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
BRUCE L RASTETTER	CHAIRMAN & CEO	—	—
CARLTON T KING	VICE PRESIDENT	—	—
MARK N LARSON	TREASURER	—	—
WILL J HOEKMAN	SECRETARY	—	—

Recent News & Activity

Recent developments and announcements

The foundation has made significant contributions to healthcare expansion in Iowa:

**$70 Million Grant:** Awarded to expand healthcare for Iowans

Richard O. Jacobson Foundation Gives $70 Million to Expand ...

**$4.5 Million Grant:** Provided to improve pediatric specialty care for Iowa's children

The Richard O. Jacobson Foundation gives $4.5 million to improve pediatric\

**$2 Million Grant:** Awarded to UI Health Care to meet urgent pandemic needs

Richard O. Jacobson Foundation Gives $70 Million to Expand Health Care for

Frequently Asked Questions

What does Richard O Jacobson Foundation fund?

The foundation has focused for more than 45 years on supporting: • Education at all levels • Youth development programs • Medical research • Healthcare expansion and improvement

How do I apply for a grant from Richard O Jacobson Foundation?

**Grant Characteristics:** • Grant range: $50,000 - $1,100,000 • Average grant size: approximately $6,000 • Application method: No formal deadline or application form; direct contact preferred • Open to new applicants: Yes • Percentage of new applicants funded: 12% **Recent Grant Activity:** • 2024: 3 grants awarded totaling $4.2 million • 2024 grant example: $100,000 to Pinellas Education Foundation • Previous year: 1,126 total grants awarded **Contact for Grant Inquiries:** • BKD LLP, 1401 50…

Where does Richard O Jacobson Foundation make grants?

The foundation funds projects in: • Iowa (primary focus) • Minnesota • Florida (particularly Pinellas County) • Specific cities include: Belmond, Clearwater, Des Moines, Iowa City, Largo, and Saint Peter

What size grants does Richard O Jacobson Foundation award?

In 2024, Richard O Jacobson Foundation awarded 3 grants totaling $370K — an average of about $123K per grant, based on its IRS Form 990 filings.

How much is Richard O Jacobson Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Richard O Jacobson Foundation reported a distributable amount of $3.0M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.