Teamquest Foundation
Teamquest Foundation is a private foundation, based in Clear Lake, IA. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $405K in total assets. In 2025, it awarded 3 grants totaling $14K. Net investment income was $13K.
Teamquest Foundation at a glance
In short: Teamquest Foundation gave $14K across 3 grants in 2025 (avg $5K), mostly in Iowa. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $13,650
- -31.5% vs 2024
- Grants made (2025)
- 3
- +50.0% vs 2024
- Average grant
- $4,550
- -54.3% vs 2024
- Median grant
- $4,500
- Total assets
- $404,867
- -0.7% vs 2024
- Primary geography
- Iowa (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 Teamquest Foundation funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was North Iowa Area Community College ($5K). Together the top 3 received $14K.
Grant Size Distribution
15 grants across all recorded years
The most common grant size was under $50K: 15 grants of 15 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
States
Cities
How Teamquest Foundation gives
- Giving fell 32% from 2022 to 2025. Method
- In 2025 it paid out 77% 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 $14K (2020) to $24K (2023). In 2025 it made 3 grants totaling $14K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| North Iowa Area Community College Mason City, IA | STEAM Learning | $5,000 |
| Clear Lake Community School Clear Lake, IA | STEAM Learning | $4,500 |
| 43 North Iowa Mason City, IA | STEAM Learning | $4,150 |
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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 | $404,867 | $21,793 | $24,051 | $13,650 | 3 | $15,575 | $13,317 | $20,344 |
| 2024 | $407,579 | $165,443 | $27,587 | $19,920 | 2 | $21,720 | $159,576 | $18,090 |
| 2023 | $269,890 | $5,692 | $30,674 | $23,500 | 2 | $25,212 | $4,414 | $19,212 |
| 2022 | $294,735 | $24,801 | $28,009 | $20,130 | 5 | $21,760 | $8,963 | $20,029 |
| 2021 | $298,066 | $22,514 | $27,483 | $20,000 | 3 | $21,327 | $16,190 | $22,304 |
| 2020 | $303,029 | $4,343 | $21,703 | $13,500 | 2 | — | $8,510 | $18,854 |
Under IRS private-foundation payout rules, Teamquest Foundation reported a distributable amount of $20K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Teamquest Foundation is led by Brad Baalson, President on every filing since 2020; none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
Brad Baalson
President
On filings since 2020
0.3 hrs/week
No compensation reported
John Raymond
Vice President
On filings since 2020
0.3 hrs/week
No compensation reported
Stacy Doughan
Secretary
On filings since 2020
0.3 hrs/week
No compensation reported
Tracy Anderson
Treasurer
On filings since 2020
0.3 hrs/week
No compensation reported
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.
Frequently asked questions about Teamquest Foundation
How much does Teamquest Foundation give each year?
Teamquest Foundation gave $14K across 3 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $20K across 2 grants.
What is Teamquest Foundation's typical grant size?
Teamquest Foundation's median grant in 2025 was $4,500, and its average grant was $4,550, across 3 grants on its 2025 IRS Form 990-PF.
Where does Teamquest Foundation give grants?
Teamquest Foundation gives mostly in Iowa: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Mason City, IA (2 grants).
Does Teamquest Foundation give general operating support?
Not in 2025: none of the 3 grants with a stated purpose on Teamquest Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "STEAM Learning" (3 grants).
How large is Teamquest Foundation?
Teamquest Foundation reported $405K in total assets on its 2025 IRS Form 990-PF. It paid out $16K in qualifying distributions that year, against a required minimum of $20K (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 Teamquest Foundation's EIN?
Teamquest Foundation's EIN (Employer Identification Number) is 72-1538400. 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
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS July 1, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS July 11, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 31, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS June 24, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS June 23, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
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