Rik and Peg Master Foundation

Private foundation · Grantmaker Woodstock, IL EIN: 87-4726696

The Rik and Peg Master Foundation is a private foundation based in Woodstock, Illinois. Its 2025 filing reports 13 grants totaling $16,891, with listed donations going to organizations in Illinois, Michigan, Washington, D.C., and California.

Key facts about Rik and Peg Master Foundation

In short: Rik and Peg Master Foundation gave $17K across 13 grants in 2025 (avg $1K), mostly in Illinois. Source: 2025 IRS Form 990-PF.

EIN
87-4726696
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$16,891
Grants made (2025)
13
Average grant
$1,299
Median grant
$259
Total assets
$129,167
Primary geography
Illinois (95% of itemized 2025 grant dollars)
Accepts unsolicited proposals
No
How to apply
The foundation does not accept unsolicited requests for funds and states that it contributes only to preselected charitable organizations. Full details ↓

Data from IRS Form 990-PF, 2025; updated September 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

$129K

+39.5% YoY

Annual Giving

$17K

+161.4% YoY

Grant Count

13

+18.2% YoY

Avg Grant Size

$1K

+121.2% YoY

Under IRS private-foundation payout rules, Rik and Peg Master Foundation reported a distributable amount of $6K for 2025 — the minimum it must pay out in qualifying distributions.

How Rik and Peg Master Foundation gives

  • 46% of 2025 grantees were also funded in 2024. Method
  • Giving grew 604% from 2022 to 2025. Method
  • In 2025 it paid out 277% of its IRS minimum distribution (the 5% rule). Method

Estimate from itemized grant lists in IRS Form 990-PF filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

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

Mission & Focus Areas

The foundation’s filings do not state a mission. Its 2025 grants include donations to a county historical society, architectural organizations, a church, a public television station, and Native-focused organizations.

The McHenry County Historical Society describes its mission as operating the history museum of McHenry County, Illinois. The AIA Chicago Foundation says it invests in Chicago’s next generation of architectural change-makers through scholarships, grants, and recognition.

Grantmaking

In 2025, the foundation reported 13 grants totaling $16,891. The median grant was $259; amounts ranged from $41 to $9,100. Among its largest reported grants were $9,100 to Rockford Illustrating, $2,798 to Pioneer Center, $2,008 to WTTW, and $1,057 to St Mary Church. Other reported grants included $500 to the McHenry County Historical Society and $259 to the AIA Chicago Foundation. The filing lists each of these grants as a donation.

Your AI grants department

Ready to take the next step with Rik and Peg Master Foundation?

Fully replaces Grant database subscriptions Instrumentl · Foundation Directory · GrantStation & similar

Geographic Focus

Where this funder awards grants

In 2025, 95% of grant dollars went to recipients in Illinois, 3% to Michigan, 1% to Washington, D.C., and 1% to California.

Grant Distribution by State

5states

Share of 2025 grant dollars across all 13 itemized grants.

Cities

ChicagoWashingtonMcHenryWoodstockSpringfieldEurekaJohnsburgChamberlainCrystal LakeGrand RapidsRockfordSan JoseUnion

Giving Over Time

Total grant dollars and number of grants per year

$0$5K$10K$15K$20K3 grants2022 8 grants2023 11 grants2024 13 grants2025

From 2022 to 2025, annual grant giving ranged from $2K (2022) to $17K (2025). In 2025 it made 13 grants totaling $17K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2025

Rockford Illustrating: $9KRockford Illustrating$9KPioneer Center: $3KPioneer Center$3KWTTW: $2KWTTW$2KSt Mary Church: $1KSt Mary Church$1KMcHenry County Historical Society: $500McHenry County HistoricalSociety$500Indian Country Media LLC: $500Indian Country Media LLC$500AIA Chicago Foundation: $259AIA Chicago Foundation$259AIA Illinois Foundation: $206AIA Illinois Foundation$206National Congress of American Indians Funds: $111National Congress of AmericanIndians Funds$1117 Gen Found (SGF): $1087 Gen Found (SGF)$108

The largest 2025 recipient was Rockford Illustrating ($9K). Together the top 10 received $17K.

Grant Size Distribution

35 grants across all recorded years

35<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 35 grants of 35 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Rockford Illustrating Rockford, ILDonation$9,100
Pioneer Center McHenry, ILDonation$2,798
WTTW Chicago, ILDonation$2,008
St Mary Church Woodstock, ILDonation$1,057
McHenry County Historical Society Union, ILDonation$500
Indian Country Media LLC Grand Rapids, MIDonation$500
AIA Chicago Foundation Chicago, ILDonation$259
AIA Illinois Foundation Springfield, ILDonation$206
National Congress of American Indians Funds Washington, DCDonation$111
7 Gen Found (SGF) Eureka, CADonation$108

Financial History

Multi-year comparison from IRS filings

Filing year Assets Revenue Expenses Grants
2025 $129,167 $57,116 $20,539 $16,891
2024 $92,591 $51,789 $9,380 $6,461
2023 $50,181 $12,539 $8,155 $4,975
Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$20K$40K$60K$80K2022 2023 2024 2025
Metric202520242023
Total Assets$129,167$92,591$50,181
Revenue$57,116$51,789$12,539
Expenses$20,539$9,380$8,155
Qualifying Distributions$16,891$6,461$4,975
Net Investment Income$3,286——
Distributable Amount$6,092$3,958$2,614

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2022 (received by the IRS May 15, 2023)
  2. Updated Form 990-PF for fiscal year 2023 (received by the IRS May 14, 2024)
  3. Updated Form 990-PF for fiscal year 2024 (received by the IRS May 15, 2025)
  4. Updated Form 990-PF for fiscal year 2025 (received by the IRS April 22, 2026)
  5. IRS filings on file for fiscal years 2022–2025

Leadership & Key People

Leadership team and compensation from IRS filings

The foundation’s 2025 filing lists Richard Charles Master as President; Peggy J Master as Secretary Treasurer; and Robert Clifford Master and Richard Chase Master as board members.

Rik and Peg Master Foundation is led by Richard Chase Master, President & Board Member on every filing since 2022; none of the 3 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Richard Chase Master

    President & Board Member

    On filings since 2022

    3.4 hrs/week

    No compensation reported

  • Peggy J Master

    Secretary Treasurer

    On filings since 2022

    4.6 hrs/week

    No compensation reported

  • Robert Clifford Master

    Board Member

    On filings since 2022

    0.8 hrs/week

    No compensation reported

Data from IRS Form 990 filings, 2022–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Contact

Mailing address: 19404 Frank Court, Woodstock, IL 60098
Phone: (815) 382-0961

Frequently asked questions about Rik and Peg Master Foundation

How much does Rik and Peg Master Foundation give each year?

Rik and Peg Master Foundation gave $17K across 13 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $6K across 11 grants.

What is Rik and Peg Master Foundation's typical grant size?

Rik and Peg Master Foundation's median grant in 2025 was $259, and its average grant was $1,299, across 13 grants on its 2025 IRS Form 990-PF.

Where does Rik and Peg Master Foundation give grants?

Rik and Peg Master Foundation gives mostly in Illinois: 95% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Chicago, IL (3 grants) and Washington, DC (2 grants).

Does Rik and Peg Master Foundation give general operating support?

Not in 2025: none of the 13 grants with a stated purpose on Rik and Peg Master Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Donation" (13 grants).

Who are Rik and Peg Master Foundation's largest grantees?

Rik and Peg Master Foundation's largest 2025 grantees include Rockford Illustrating ($9,100), Pioneer Center ($2,798) and WTTW ($2,008), according to its 2025 IRS Form 990-PF. Together they received 82% of its itemized 2025 grant dollars.

How large is Rik and Peg Master Foundation?

Rik and Peg Master Foundation reported $129K in total assets on its 2025 IRS Form 990-PF. It paid out $17K in qualifying distributions that year, against a required minimum of $6K (roughly 5% of its investment assets).

What does Rik and Peg Master Foundation fund?

The foundation’s filings do not state a mission. Its 2025 grants include donations to a county historical society, architectural organizations, a church, a public television station, and Native-focused organizations. See mission & focus areas ↑

How do I apply for a grant from Rik and Peg Master Foundation?

The foundation does not accept unsolicited requests for funds and states that it contributes only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑

What is Rik and Peg Master Foundation's EIN?

Rik and Peg Master Foundation's EIN (Employer Identification Number) is 87-4726696. IRS Form 990 filing data is available on this page for 2022–2025.

Does Rik and Peg Master Foundation accept unsolicited proposals?

No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑

Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.

Your AI grants department

Here's the math on researching Rik and Peg Master Foundation by hand.

Explore Open Grants

Browse active grant opportunities in Rik and Peg Master Foundation's focus areas in our free grants database

Similar Funders

Funders that support many of the same organizations

Ima Foundation

Wichita, KS

Assets

$11.4M

Grants

602

Total Given

$831K

Robertson Family Foundation

Platte City, MO

Assets

$99K

Grants

1

Total Given

$1K

AUF Foundation

Niles, IL

Education

Assets

$353K

Grants

2

Total Given

$21K

Grays Harbor Community Foundation

Hoquiam, WA

Grays Harbor Community Foundation funds nonprofits and school districts serving Grays Harbor County, Washington, with priorities including education, health, arts and culture, basic needs, and homelessness prevention. Community Building Grants typically range from $5,000 to $30,000, while Quarterly Impact Grants are $5,000 or less. It accepts unsolicited applications from eligible nonprofits serving local residents.

Philanthropy, Voluntarism & Grantmaking

Assets

$119.8M

Grants

82

Total Given

$3.3M

David Wallace Smith and Joan Stowell Smith

Wilmington, DE

The foundation supports medical research, education, arts and culture, and community organizations, with recent grants concentrated in South Carolina, Maryland, North Carolina, Maine, and Massachusetts. In 2025, grants ranged from $500 to $35,000, with a median of $1,750. It does not accept unsolicited requests and gives only to preselected organizations.

Philanthropy, Voluntarism & Grantmaking

Assets

$2.1M

Grants

34

Total Given

$150K

Pagliarulo Family Foundation Inc

Tampa, FL

Assets

$3.5M

Grants

8

Total Given

$196K

Society of Architectural Historians

Chicago, IL

The mission of the society is to advance the knowledge and understanding of architecture, design, landscape and urbanism worldwide among scholars, professionals in allied fields (including architecture, historic preservation and planning) and the interested general public. This mission is achieved by: sponsoring the pursuit and presentation of scholarly research; sponsoring forums for the presentation of scholarly research and exchange of ideas; providing publications that disseminate scholarly work, professional information and general information related to the field and of interest to the public; acknowledging outstanding scholarly accomplishments in the field; fostering scholarship, research and education about the history of the built environment at all levels; organizing study tours of significant buildings and sites both in the united states and abroad; and supporting the preservation of historic places and cultural heritage.

Assets

$9.3M

Grants

2

Total Given

$41K

The Limpe Foundation

Greenwich, CT

Assets

$570K

Grants

8

Total Given

$124K

Jocarno Fund

Oak Park, IL

JOCARNO FUND supports organizations working in areas such as conservation and nature education, youth development, immigrant support, and music, with 2024 grants ranging from $500 to $24,840 and a median of $2,000. Based in Oak Park, Illinois, it gave primarily in Illinois, with grants also reported in Ohio, Virginia, New York, and Wisconsin. It accepts written applications, but the filing does not say whether it accepts unsolicited requests.

Assets

$564K

Grants

69

Total Given

$178K

Doty Family Foundation

New York, NY

The Doty Family Foundation supports preselected charitable organizations, including universities, schools, churches, and social-service organizations; its grants are typically small, with a 2025 median of $1,500, though awards ranged from $150 to $75,207. It is based in New York City, and most 2025 grant dollars went to New York recipients, followed by organizations in Pennsylvania, Maryland, New Jersey, and California. It does not accept unsolicited funding requests.

Assets

$2.6M

Grants

79

Total Given

$682K

The Chicago Community Trust

Chicago, IL

The Chicago Community Trust funds nonprofits addressing economic mobility, wealth gaps, and urgent community needs, with priorities including homeownership, small businesses, education, quality jobs, and investment in underinvested communities. Its 2025 itemized grants had a median of $26,500, though awards vary widely; grants generally benefit Chicago-region residents, and the Trust directs applicants to open opportunities but does not state whether it accepts unsolicited requests.

Assets

$7.1B

Grants

4,316

Total Given

$1.2B

The Allstate Foundation

Northbrook, IL

The Allstate Foundation funds youth empowerment, efforts to prevent and address relationship abuse, nonprofit leadership, and related economic opportunity and equity work. Its 2024 grants ranged from $250 to $2 million, with a median of $1,000, and awards must support work in the United States. It accepts proposals from organizations beyond a preselected list; proposals are reviewed as received.

Assets

$89.3M

Grants

2,010

Total Given

$38.0M

More Funders in Illinois

Rik and Peg Master Foundation down — hundreds of funders to go?

Want AI to do this for you?