Switzer Scholarship Fund
Switzer Scholarship Fund is a private foundation focused on Education, based in Normal, IL. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $324K in total assets. In 2025, it awarded 1 grant totaling $16K. Net investment income was $6K.
Switzer Scholarship Fund at a glance
In short: Switzer Scholarship Fund gave $16K across 1 grant in 2025 (avg $16K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $16,000
- -5.9% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $16,000
- -5.9% vs 2024
- Median grant
- $16,000
- Total assets
- $323,688
- -3.4% vs 2024
- Primary geography
- Illinois (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Switzer Scholarship Fund funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Olivet Nazarene University ($16K).
Grant Size Distribution
11 grants across all recorded years
The most common grant size was under $50K: 11 grants of 11 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
Cities
How Switzer Scholarship Fund gives
- Giving fell 62% from 2022 to 2025. Method
- In 2025 it paid out 97% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $16K (2025) to $48K (2020). In 2025 it made 1 grant totaling $16K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Olivet Nazarene University Bourbonnais, IL | Educational Scholarship | $16,000 |
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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 | $323,688 | $12,359 | $23,919 | $16,000 | 1 | $16,308 | $6,499 | $16,890 |
| 2024 | $335,248 | $81,082 | $36,876 | $17,000 | 1 | $17,983 | $62,207 | $15,618 |
| 2023 | $290,881 | $13,116 | $52,472 | $34,000 | 3 | $48,366 | $7,852 | $16,719 |
| 2022 | $330,329 | $-8,309 | $55,587 | $42,000 | 4 | $49,552 | $2,506 | $18,704 |
| 2021 | $394,177 | $89,255 | $52,424 | $36,000 | 2 | $46,229 | $83,645 | $21,948 |
| 2020 | $354,554 | $31,911 | $55,294 | $47,855 | 6 | — | $27,278 | $22,816 |
Under IRS private-foundation payout rules, Switzer Scholarship Fund reported a distributable amount of $17K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Switzer Scholarship Fund's only listed officer is Heartland Bank Trust Company, Trustee on every filing since 2024 (compensated).
Officers on the 2025 filing
Heartland Bank Trust Company
Trustee
On filings since 2024
1 hr/week
$2K (2024) → $5K (2025)
Former officers (2)
- Former: Bank Of America (2021–2024) — Trustee
- Former: Bank Of America N A (2020) — Trustee
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $5K, to Heartland Bank Trust Company (Trustee).
Frequently asked questions about Switzer Scholarship Fund
How much does Switzer Scholarship Fund give each year?
Switzer Scholarship Fund gave $16K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $17K across 1 grant.
How large is Switzer Scholarship Fund?
Switzer Scholarship Fund reported $324K in total assets on its 2025 IRS Form 990-PF. It paid out $16K in qualifying distributions that year, against a required minimum of $17K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Switzer Scholarship Fund?
Switzer Scholarship Fund is a private foundation focused on Education, based in Normal, IL. It holds $324K in total assets as of 2025.
Where does Switzer Scholarship Fund operate?
Switzer Scholarship Fund has awarded grants in Iowa, Illinois, Minnesota, Wisconsin.
What is Switzer Scholarship Fund's EIN?
Switzer Scholarship Fund's EIN (Employer Identification Number) is 59-6785090. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 14, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Switzer Scholarship Fund's focus areas in our free grants database
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