Surack Family Foundation Inc
The Surack Family Foundation is a private grantmaking foundation established in July 2022 by Chuck and Lisa Surack. Based in Fort Wayne, Indiana, the foundation is classified as a 501(c)(3) organization and designated as a private grantmaking foundation. The foundation was established with an initial contribution of $101.25 million and operates with a mission to create meaningful impact in Northeast Indiana communities.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$47.5M
-35.7% YoY
Annual Giving
$23.9M
+156.4% YoY
Grant Count
142
+40.6% YoY
Avg Grant Size
$169K
+82.4% YoY
Mission & Focus Areas
The foundation's stated mission is "to enrich humanity by inspiring, strengthening, and empowering individuals, children, and families in the communities we call home," with a specific focus on Northeast Indiana.
Primary funding areas include:
- Education and higher education
- Arts and music
- Youth empowerment
- Mental health advocacy
- Community development
- Human services
- Philanthropy and grantmaking
Grantmaking
The foundation has made 390 grants totaling $31.2 million across available records. In 2024, the foundation distributed approximately $23.9 million in grants. Notable recent grants include:
Grant Range
s and Range:**
Average Grant
amount: $80,000
Review Cycle
or formal application process. The foundation does not maintain a public application process for grant requests.
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation primarily supports organizations in Northeast Indiana, with particular emphasis on the Fort Wayne region. Grantmaking reaches organizations across 8 states, with Indiana, New Jersey, and Illinois accounting for 98% of all grants. The foundation has supported 142 unique organizations.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total Assets: $47,503,311
- Total Revenue: $5,164,325
- Total Expenses: $33,387,363
- Total Liabilities: $11,600,000
- Annual Giving: $23,943,913 to $24,000,000
Historical Assets:
- 2021: $100,300,000
- 2023: $73,800,000
- 2024: $47,503,311
Annual Giving Trends:
- 2021: $1,100,000
- 2022: $20,700,000 (highest grantmaking activity with 250 grants)
- 2023: $9,300,000
- 2024: $23,943,913
Investment Income:
- 2024: $1,092,278
- 2023: $1,542,856
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $47,503,311 | $73,839,144 | $87,543,590 |
| Revenue | $5,164,325 | $-1,556,388 | $-1,668,173 |
| Expenses | $33,387,363 | $17,205,402 | $13,824,974 |
| Qualifying Distributions | $24,012,137 | $9,344,904 | $10,373,177 |
| Net Investment Income | $4,986,890 | $1,336,051 | $1,139,817 |
| Distributable Amount | $3,387,712 | $3,740,715 | $4,037,354 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
189 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Founders:
- Chuck Surack — Founder of Sweetwater Sound, the largest online retailer of musical instruments and professional audio equipment in the United States. Surack stepped down as CEO in 2021 to become Chairman of the board.
- Lisa Surack — Co-founder of the foundation
The foundation is governed by 3 officers and trustees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CHARLES J SURACK | PRESIDENT | 3 | — |
| LISA M SURACK | SECRETARY | 2 | — |
| JOHN M HOPKINS | TREASURER | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation has been actively engaged in major capital projects and community initiatives:
**Surack-Sweetwater Music Industry Building at Purdue Fort Wayne:** A $25 million, 26,000-square-foot facility scheduled to open in fall 2026, named to recognize the foundation's crucial support.
**Pearl Arts Music Academy:** The foundation has supported the launch of Pearl Arts Music Academy in downtown Fort Wayne, offering music instruction from a state-of-the-art facility at the Pearl Street Arts Center.
Pearl Arts Music Academy to begin transformative mission, bringing music**Taylor University Campaign:** Chuck and Lisa Surack made a significant pledge to Taylor University's "Life to the Full" campaign, representing their second major gift to the university's strategic initiative.
Surack Family Foundation donates to Manchester University - Making a Difference**Manchester University:** The foundation has made donations to Manchester University.
Surack Family Foundation donates to Manchester University - Making a Difference**Community Engagement:** The Suracks regularly give to over 600 organizations annually, demonstrating a broad and active philanthropic approach across the region.
Contact Information
Address: 7100 W. Jefferson Blvd., Fort Wayne, IN 46804
Phone: (260) 432-0370 x1005
Website: surackfamilyfoundation.com
Contact Method: Online contact form available on website
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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