Security State Bank Foundation
Security State Bank Foundation is a private foundation based in Hibbing, Minnesota. It supports a range of community purposes, including scholarships, youth activities, and local projects.
Key facts about Security State Bank Foundation
In short: Security State Bank Foundation gave $14K across 20 grants in 2025 (avg $700), mostly in Minnesota. 78% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 41-1830282
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $14,000
- Grants made (2025)
- 20
- Average grant
- $700
- Median grant
- $500
- New grantees (estimate)
- 78% first-time grantees (14 of 18, 2025; small sample)
- Total assets
- $287,553
- Primary geography
- Minnesota (100% of itemized 2025 grant dollars)
- Accepts unsolicited proposals
- Yes
- How to apply
- The foundation accepts unsolicited requests. Full details ↓
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology). 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
$288K
-1.1% YoY
Annual Giving
$14K
+0.0% YoY
Grant Count
20
+33.3% YoY
Avg Grant Size
$700
-25.0% YoY
Under IRS private-foundation payout rules, Security State Bank Foundation reported a distributable amount of $14K for 2025 — the minimum it must pay out in qualifying distributions.
Is Security State Bank Foundation open to new grantees?
78%
first-time grantees, 2025
In 2025, 14 of 18 grantees (78%) were first-time recipients. With only 18 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. First grants averaged $654; repeat grants $713. How we count
Medians: $500 first-time, $750 repeat.
- 22% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+0%). Method
- In 2025 it paid out 102% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2018–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
No mission statement is provided. The foundation’s grants include scholarships and support for youth programs, community facilities and projects, and other local activities. One 2025 recipient, Care Partners, received $500; the organization describes its mission as assisting individuals with cancer and life-limiting illnesses.
Grantmaking
In 2025, the foundation gave $14,000 through 20 grants. Grants ranged from $150 to $1,000, with a median of $500. Notable awards included $1,000 each to Boys and Girls Club of Hibbing for general support, Hibbing Little League for a pitching machine, Hibbing Historical Society for newspaper digitization, Light After Loss for a hope remembrance park, and Northern Star Scouting for its Boy Scouts program. An individual recipient and the University of North Dakota received $1,000 for a scholarship.
How to Apply
The foundation accepts unsolicited requests. Contact the foundation for the form and application materials. Its filing lists no deadline. Award priorities include youth, elderly, community and low-income families, and scholarships to local graduating seniors.
Ready to take the next step with Security State Bank Foundation?
Geographic Focus
Where this funder awards grants
All grant dollars in 2025 went to recipients in Minnesota.
Grant Distribution by State
Share of 2025 grant dollars across all 20 itemized grants.
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2018 to 2025, annual grant giving ranged from $14K (2018) to $14K (2020). In 2025 it made 20 grants totaling $14K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Boys and Girls Club of Hibbing ($1K). Together the top 10 received $9K.
Organizations only. It also paid 2 individual scholarships ($2,000), which are not listed by name.
Grant Size Distribution
81 grants across all recorded years
The most common grant size was under $50K: 81 grants of 81 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 2 individual scholarships Recipients not named | — | $2,000 |
| Boys and Girls Club of Hibbing Hibbing, MN | General support | $1,000 |
| Hibbing Little League Hibbing, MN | Pitching machine | $1,000 |
| Sturgeon Chain Lake Assoc Side Lake, MN | Pickleball courts | $1,000 |
| Hibbing Historical Society Hibbing, MN | Newspaper digitization | $1,000 |
| Northern Star Scouting Hermantown, MN | Boy Scouts program | $1,000 |
| Hibbing Area Chamber Hibbing, MN | Office update | $1,000 |
| Light After Loss Hibbing, MN | Hope remembrance park | $1,000 |
| Hibbing Farmers Market Hibbing, MN | Little free library | $500 |
| Northern Aquatics Swim Club Hibbing, MN | Initial startup | $500 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2025 | $287,553 | $11,236 | $14,522 | $14,000 |
| 2024 | $290,839 | $27,179 | $14,417 | $14,000 |
| 2023 | $278,077 | $29,825 | $14,664 | $14,300 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $287,553 | $290,839 | $278,077 |
| Revenue | $11,236 | $27,179 | $29,825 |
| Expenses | $14,522 | $14,417 | $14,664 |
| Qualifying Distributions | $14,360 | $14,350 | $14,650 |
| Net Investment Income | $11,236 | $11,679 | $4,825 |
| Distributable Amount | $14,017 | $13,384 | $12,661 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2018 (received by the IRS April 25, 2019)
- Updated Form 990-PF for fiscal year 2019 (received by the IRS May 1, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 6, 2021)
- Added Form 990-PF for fiscal year 2021 (received by the IRS May 4, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 9, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 9, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 9, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 7, 2026)
- IRS filings on file for fiscal years 2018–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Spencer Aune as president, Kim Thomas as treasurer, and Rachel Simmons as secretary. Directors are Mark Gardeski, Greg Hoag, Patty Sletten, and Gary Oie.
Security State Bank Foundation is led by Spencer Aune, President since 2025 (on filings since 2024); none of the 7 officers listed in 2025 report compensation.
Officers on the 2025 filing
Spencer Aune
President
Director → President, 2025
On filings since 2024
1.2 hrs/week
No compensation reported
Gary Oie
Director
On filings since 2018
0.2 hrs/week
No compensation reported
Mark Gardeski
Director
On filings since 2018
0.2 hrs/week
No compensation reported
Greg Hoag
Director
On filings since 2020
0.2 hrs/week
No compensation reported
Patty Sletten
Director
New on the 2025 filing
0.2 hrs/week
No compensation reported
Kim Thomas
Treasurer
On filings since 2019
0.4 hrs/week
No compensation reported
Rachel Simmons
Secretary
New on the 2025 filing
0.4 hrs/week
No compensation reported
Former officers (11)
- Former: EJ Hanson (2022–2024) — Director
- Former: Karlee Persons (2023–2024) — President
- Former: Chris Westin (2018–2023) — Director
- Former: Shannon Plombon (2022–2023) — Secretary
- Former: Genica Munter (2019–2022) — President
- Former: Bre Kasola (2020–2021) — Secretary
- Former: Ashley Adams (2018–2019) — Secretary
- Former: Taylor Slattery (2019) — Director
- Former: Debbie Lokken (2018) — Treasurer
- Former: Jill Klapatch (2018) — Director
- Former: Merrilu DelCaro (2018) — President
Data from IRS Form 990 filings, 2018–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Application contact: Spencer Aune
Mailing address: 701 E Howard St, Hibbing, MN 55746
Phone: (218) 263-8855
Frequently asked questions about Security State Bank Foundation
How much does Security State Bank Foundation give each year?
Security State Bank Foundation gave $14K across 20 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $14K across 15 grants.
What is Security State Bank Foundation's typical grant size?
Security State Bank Foundation's median grant in 2025 was $500, and its average grant was $700, across 20 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Security State Bank Foundation that year got $654 on average.
Where does Security State Bank Foundation give grants?
Security State Bank Foundation gives mostly in Minnesota: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Hibbing, MN (12 grants).
Does Security State Bank Foundation give general operating support?
Yes: 10% of Security State Bank Foundation's 2025 grants with a stated purpose (2 of 20) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Security State Bank Foundation's largest grantees?
Security State Bank Foundation's largest 2025 grantees include Boys and Girls Club of Hibbing ($1,000), Hibbing Little League ($1,000) and Sturgeon Chain Lake Assoc ($1,000), according to its 2025 IRS Form 990-PF. It also paid 2 individual scholarships ($2,000), which are not listed by name. Together they received 21% of its itemized 2025 grant dollars.
How large is Security State Bank Foundation?
Security State Bank Foundation reported $288K in total assets on its 2025 IRS Form 990-PF. It paid out $14K in qualifying distributions that year, against a required minimum of $14K (roughly 5% of its investment assets).
What does Security State Bank Foundation fund?
No mission statement is provided. The foundation’s grants include scholarships and support for youth programs, community facilities and projects, and other local activities. See mission & focus areas ↑
How do I apply for a grant from Security State Bank Foundation?
The foundation accepts unsolicited requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Security State Bank Foundation's EIN?
Security State Bank Foundation's EIN (Employer Identification Number) is 41-1830282. IRS Form 990 filing data is available on this page for 2018–2025.
Does Security State Bank Foundation accept unsolicited proposals?
Yes, 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.
Here's the math on researching Security State Bank Foundation by hand.
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