Rik and Peg Master Foundation
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.
Rik and Peg Master Foundation at a glance
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.
- Annual giving (2025)
- $16,891
- +161.4% vs 2024
- Grants made (2025)
- 13
- +18.2% vs 2024
- Average grant
- $1,299
- +121.2% vs 2024
- Median grant
- $259
- Total assets
- $129,167
- +39.5% vs 2024
- Primary geography
- Illinois (95% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to Rik and Peg Master Foundation
- 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.
- Contact
Mailing address: 19404 Frank Court, Woodstock, IL 60098
Phone: (815) 382-0961
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Rik and Peg Master Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Rockford Illustrating ($9K). Together the top 10 received $17K.
Grant Size Distribution
35 grants across all recorded years
The most common grant size was under $50K: 35 grants of 35 (100%).
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
Share of 2025 grant dollars across all 13 itemized grants.
Cities
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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2022 to 2025, annual grant giving ranged from $2K (2022) to $17K (2025). In 2025 it made 13 grants totaling $17K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Rockford Illustrating Rockford, IL | Donation | $9,100 |
| Pioneer Center McHenry, IL | Donation | $2,798 |
| WTTW Chicago, IL | Donation | $2,008 |
| St Mary Church Woodstock, IL | Donation | $1,057 |
| McHenry County Historical Society Union, IL | Donation | $500 |
| Indian Country Media LLC Grand Rapids, MI | Donation | $500 |
| AIA Chicago Foundation Chicago, IL | Donation | $259 |
| AIA Illinois Foundation Springfield, IL | Donation | $206 |
| National Congress of American Indians Funds Washington, DC | Donation | $111 |
| 7 Gen Found (SGF) Eureka, CA | Donation | $108 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $129,167 | $57,116 | $20,539 | $16,891 | 13 | $16,891 | $3,286 | $6,092 |
| 2024 | $92,591 | $51,789 | $9,380 | $6,461 | 11 | $6,461 | — | $3,958 |
| 2023 | $50,181 | $12,539 | $8,155 | $4,975 | 8 | $4,975 | — | $2,614 |
| 2022 | $45,797 | $50,654 | $4,857 | $2,400 | 3 | $2,400 | — | $1,126 |
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.
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.
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.
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 October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(5)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 15, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 22, 2026)
- IRS filings on file for fiscal years 2022–2025
Live grants for the work Rik and Peg Master Foundation funds
Education Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Rik and Peg Master Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Rik and Peg Master Foundation funder profile. GrantGraph. Retrieved October 22, 2026, from https://grantable.co/funders/rik-and-peg-master-foundation-morg_69c138b63424466fb336cbd0c6e35c18
BibTeX
@misc{grantable_874726696_2026,
author = {{Grantable}},
title = {{Rik and Peg Master Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/rik-and-peg-master-foundation-morg_69c138b63424466fb336cbd0c6e35c18},
note = {Accessed 2026-10-22. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Rik and Peg Master Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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