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
Under IRS private-foundation payout rules, Surack Family Foundation Inc reported a distributable amount of $3.4M for 2024 — the minimum it must pay out in qualifying distributions.
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
Among its reported 2024 grants, the largest include Canterbury School ($751,372), Arts United of Greater Fort Wayne ($500,000), Fort Wayne Children's Zoo ($200,000).
| Recipient | Purpose | Amount |
|---|---|---|
| A MOTHER'S HOPE FORT WAYNE, IN | AMH DIAMOND GALA | $1,000 |
| ADVANCING AMERICAN FREEDOM FOUNDATI WASHINGTON, DC | GENERAL ADMINISTRATION | $100,000 |
| ALLEN COUNTY PUBLIC LIBRARY FOUNDAT FORT WAYNE, IN | DOLLY PARTON IMAGINATION LIBRARY | $10,000 |
| ANGOLA PERFORMING ARTS ACADEMY ANGOLA, IN | 2024 YOUTH THEATER CAMP - CHARLOTTES | $1,000 |
| ARTS UNITED OF GREATER FORT WAYNE FORT WAYNE, IN | CONTRIBUTION | $500,000 |
| AUBURN CORD DUESENBERG AUTOMOBILE M AUBURN, IN | MUSEUMS 50TH ANNIVERSARY BOOK | $25,000 |
| AUBURN CORD DUESENBERG AUTOMOBILE M AUBURN, IN | CORD LEVEL - 50TH ANNIVERSARY | $5,000 |
| AUTISM SOCIETY OF INDIANA INC CARMEL, IN | GENERAL SUPPORT | $7,500 |
| AYERS COMMUNICATION INC FORT WAYNE, IN | ANNUAL SUMMIT CITY COMM FESTIVAL | $20,000 |
| BE THE EDGE FORT WAYNE INC FORT WAYNE, IN | GENERAL ADMINISTRATION | $25,000 |
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
Frequently Asked Questions
What does Surack Family Foundation Inc fund?
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
How do I apply for a grant from Surack Family Foundation Inc?
**Grant Sizes and Range:** • Major capital gifts: $3 million to $25 million • Typical awards range from $500 to $4,000,000 • Average grant amount: $80,000 • Median grant amount: $14,000 • Individual grants have ranged from $500 to $3 million **Recent Grant Activity:** 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: • $4,000,000 to Taylor University for th…
Where does Surack Family Foundation Inc make 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.
What size grants does Surack Family Foundation Inc award?
In 2024, Surack Family Foundation Inc awarded 142 grants totaling $23.9M — an average of about $169K per grant, based on its IRS Form 990 filings.
How much is Surack Family Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Surack Family Foundation Inc reported a distributable amount of $3.4M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Surack Family Foundation Inc's EIN?
Surack Family Foundation Inc's EIN (Employer Identification Number) is 87-1894981. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in Surack Family Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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