South Story Bank Charitable Foundation
South Story Bank Charitable Foundation is a private foundation based in Huxley, Iowa. Its 2025 filing reports 20 grants totaling $44,634 to charitable and other worthy institutions and organizations.
Key facts about South Story Bank Charitable Foundation
In short: South Story Bank Charitable Foundation gave $45K across 20 grants in 2025 (avg $2K), mostly in Iowa. 40% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 81-4231257
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $44,634
- Grants made (2025)
- 20
- Average grant
- $2,232
- Median grant
- $1,000
- New grantees (estimate)
- 40% first-time grantees (8 of 20, 2025)
- Total assets
- $102,392
- Primary geography
- Iowa (98% of itemized 2025 grant dollars)
- How to apply
- The filing says to apply in writing to Darrell Hughes, with a brief explanation of the charitable or other need. Full details ↓
- Deadline
- None.
Data from IRS Form 990-PF, 2025; updated September 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
$102K
+5.1% YoY
Annual Giving
$45K
+45.2% YoY
Grant Count
20
+42.9% YoY
Avg Grant Size
$2K
+1.6% YoY
Under IRS private-foundation payout rules, South Story Bank Charitable Foundation reported a distributable amount of $5K for 2025 — the minimum it must pay out in qualifying distributions.
Is South Story Bank Charitable Foundation open to new grantees?
40%
first-time grantees, 2025
In 2025, 8 of 20 grantees (40%) were first-time recipients. First grants averaged $558; repeat grants $3K. How we count
Medians: $500 first-time, $3K repeat.
- 45% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+0%). Method
- In 2025 it paid out 830% 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
The foundation does not state a mission in the provided information. Its 2025 grants included general operating support and support for food pantries and a Thanksgiving meal.
Among its 2025 grantees, United Way of Story County describes its mission as uniting people, ideas, and resources to transform lives in Story County. Hope Ministries says it provides meals, shelter, and life-recovery support for people experiencing homelessness, hunger, abuse, or addiction. Food Bank of Iowa says it distributes salvageable food to member agencies serving people in need. These are grantees’ descriptions of their own work, not statements of the foundation’s mission.
Grantmaking
In 2025, the foundation made 20 grants totaling $44,634. Grant amounts ranged from $50 to $14,624, with a median of $1,000.
Review Cycle
None.
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Geographic Focus
Where this funder awards grants
In 2025, 98% of grant dollars went to recipients in Iowa and 2% to recipients in Nebraska. Listed Iowa recipients include organizations in Ames, Clive, Des Moines, Huxley, Nevada, Newell, and Slater.
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 $18K (2021) to $47K (2023). In 2025 it made 20 grants totaling $45K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was United Way of Story County ($15K). Together the top 10 received $39K.
Grant Size Distribution
83 grants across all recorded years
The most common grant size was under $50K: 83 grants of 83 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| United Way of Story County Ames, IA | General Operations | $14,624 |
| Michael Henter Foundation Clive, IA | General Operations | $5,000 |
| Beauty Amidst the Ashes Newell, IA | General Operations | $3,000 |
| Hope Ministries Des Moines, IA | General Operations | $3,000 |
| Big Brothers Big Sisters of Central Iowa Clive, IA | General Operations | $2,500 |
| Nevada Parks and Recreation Department Nevada, IA | Annual Thanksgiving Meal | $2,500 |
| Bethlehem Lutheran Church Slater, IA | Slater Food Pantry | $2,500 |
| Food Bank of Iowa Des Moines, IA | General Operations | $2,500 |
| Fjeldberg Lutheran Church Huxley, IA | Huxley Food Pantry | $2,500 |
| Timber Creek Charities Guthrie Center, IA | General Operations | $1,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants | Grant count |
|---|---|---|---|---|---|
| 2025 | $102,392 | $49,580 | $44,634 | $44,634 | 20 |
| 2024 | $97,446 | $48,000 | $32,329 | $30,749 | 14 |
| 2023 | $81,595 | $41,130 | $46,560 | $46,560 | 22 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $102,392 | $97,446 | $81,595 |
| Revenue | $49,580 | $48,000 | $41,130 |
| Expenses | $44,634 | $32,329 | $46,560 |
| Qualifying Distributions | $44,634 | $30,749 | $46,560 |
| Distributable Amount | $5,376 | $5,024 | $4,683 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2024 (received by the IRS October 21, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS May 8, 2026)
- Added Form 990-PF for fiscal year 2018 (received by the IRS April 25, 2019)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS March 13, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS April 11, 2022)
- 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 August 12, 2024)
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Steve Simon as president and director; Darrell Hughes as secretary and director; and Matt Schmaltz, Brandon Danielson, Kenneth Lund, and Suzanne Askelsen as directors.
South Story Bank Charitable Foundation is led by Steve Simon, President & Director since 2022 (on filings since 2020); none of the 6 officers listed in 2025 report compensation.
Officers on the 2025 filing
Steve Simon
President & Director
President & Director → Director, 2021
Director → President & Director, 2022
On filings since 2020
1 hr/week
No compensation reported
Kenneth Lund
Director
On filings since 2018
0.1 hrs/week
No compensation reported
Suzanne Askelsen
Director
On filings since 2018
0.1 hrs/week
No compensation reported
Darrell Hughes
Secretary & Director
Director → President & Director, 2021
President & Director → Secretary & Director, 2022
On filings since 2020
0.1 hrs/week
No compensation reported
Matt Schmaltz
Director
On filings since 2022
0.1 hrs/week
No compensation reported
Brandon Danielson
Director
On filings since 2023
0.1 hrs/week
No compensation reported
Former officers (9)
- Former: Shane Netherton (2020–2023) — Director
- Former: Michele Spencer (2021) — Director
- Former: Rob Deal (2021) — Treasurer
- Former: Lana Greimann (2018–2020) — Secretary
- Former: Luann Carlson (2018–2020) — Treasurer
- Former: Douglas McDermott (2018) — Director
- Former: Elizabeth Garst (2018) — President & Director
- Former: Jennifer Garst (2018) — Director
- Former: Sid Jones (2018) — Director
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: Darrell Hughes
Mailing address: South Story Bank Trust, Huxley, IA 50124
Phone: (515) 228-3566
Frequently asked questions about South Story Bank Charitable Foundation
How much does South Story Bank Charitable Foundation give each year?
South Story Bank Charitable Foundation gave $45K across 20 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $31K across 14 grants.
What is South Story Bank Charitable Foundation's typical grant size?
South Story Bank Charitable Foundation's median grant in 2025 was $1,000, and its average grant was $2,232, across 20 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from South Story Bank Charitable Foundation that year got $558 on average.
Where does South Story Bank Charitable Foundation give grants?
South Story Bank Charitable Foundation gives mostly in Iowa: 98% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Des Moines, IA (4 grants), Huxley, IA (3 grants), Nevada, IA (3 grants) and Clive, IA (2 grants).
Does South Story Bank Charitable Foundation give general operating support?
Yes: 75% of South Story Bank Charitable Foundation's 2025 grants with a stated purpose (15 of 20) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are South Story Bank Charitable Foundation's largest grantees?
South Story Bank Charitable Foundation's largest 2025 grantees include United Way of Story County ($14,624), Michael Henter Foundation ($5,000) and Beauty Amidst the Ashes ($3,000), according to its 2025 IRS Form 990-PF. Together they received 51% of its itemized 2025 grant dollars.
How large is South Story Bank Charitable Foundation?
South Story Bank Charitable Foundation reported $102K in total assets on its 2025 IRS Form 990-PF. It paid out $45K in qualifying distributions that year, against a required minimum of $5K (roughly 5% of its investment assets).
What does South Story Bank Charitable Foundation fund?
The foundation does not state a mission in the provided information. Its 2025 grants included general operating support and support for food pantries and a Thanksgiving meal. See mission & focus areas ↑
How do I apply for a grant from South Story Bank Charitable Foundation?
The filing says to apply in writing to Darrell Hughes, with a brief explanation of the charitable or other need. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is South Story Bank Charitable Foundation's EIN?
South Story Bank Charitable Foundation's EIN (Employer Identification Number) is 81-4231257. IRS Form 990 filing data is available on this page for 2018–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
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