The Exchange Club of Vero Beach Scholars
The Exchange Club of Vero Beach Scholars is a private foundation based in Vero Beach, Florida. It funds college scholarships for graduates of public high schools in Indian River County, Florida.
The Exchange Club of Vero Beach Scholars at a glance
In short: The Exchange Club of Vero Beach Scholars gave $42K across 10 grants in 2025 (avg $4K), mostly in Florida. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $41,500
- +9.2% vs 2024
- Grants made (2025)
- 10
- -9.1% vs 2024
- Average grant
- $4,150
- +20.1% vs 2024
- Median grant
- $4,000
- Total assets
- $732,278
- +3.0% vs 2024
- Primary geography
- Florida (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to The Exchange Club of Vero Beach Scholars
- How to Apply
-
The 2024 filing says forms are provided to each applicant. Requested information includes personal information, grades, honors, SAT and ACT test results, school and community activities, and a counselor’s recommendation. Applicants must be graduates of a public high school in Indian River County, Florida.
- Review Cycle
- The 2024 filing lists April 1. This is not presented as a current or open deadline.
- Deadline
- The 2024 filing lists April 1.
- Contact
Application contact: Scholarship Committee
Mailing address: PO Box 1982, Vero Beach, FL 32961
Phone: (772) 567-9217
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Exchange Club of Vero Beach Scholars funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Christian Marques ($4K).
Organizations only. It also paid 9 individual scholarships ($38,000), which are not listed by name.
Grant Size Distribution
56 grants across all recorded years
The most common grant size was under $50K: 56 grants of 56 (100%).
Geographic Focus
Where this funder awards grants
All grant dollars reported for filing year 2025 went to recipients in Florida. The foundation’s 2024 filing limits scholarship applicants to graduates of public high schools in Indian River County, Florida.
Grant Distribution by State
Share of 2025 grant dollars across all 10 itemized grants.
States
Cities
How The Exchange Club of Vero Beach Scholars gives
- Giving grew 57% from 2022 to 2025. Method
- In 2025 it paid out 96% 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 2021 to 2025, annual grant giving ranged from $27K (2022) to $42K (2025). In 2025 it made 10 grants totaling $42K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 9 individual scholarships Recipients not named | — | $38,000 |
| Christian Marques Vero Beach, FL | Scholarship | $3,500 |
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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 | $732,278 | $67,640 | $46,058 | $41,500 | 10 | $41,500 | $61,790 | $43,358 |
| 2024 | $710,696 | $147,558 | $38,416 | $38,000 | 11 | $38,000 | $133,998 | $35,683 |
| 2023 | $601,554 | $41,643 | $33,858 | $33,500 | 12 | $33,500 | $20,769 | $30,793 |
| 2022 | $593,769 | $73,754 | $26,596 | $26,500 | 11 | $26,500 | $15,909 | $32,000 |
| 2021 | $546,611 | $26,697 | $32,744 | $31,500 | 12 | — | $16,265 | $30,909 |
Under IRS private-foundation payout rules, The Exchange Club of Vero Beach Scholars reported a distributable amount of $43K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation’s 2024 filing describes its direct charitable activity as providing college scholarships to graduates of public high schools in Indian River County, Florida.
Grantmaking
In filing year 2025, the foundation awarded 10 scholarships totaling $41,500. Awards ranged from $3,500 to $5,000, with a median of $4,000. All listed grants went to individual recipients in Florida.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Susan Chenault as chairman, Nancy Madsen as secretary, Jack McAfee as treasurer, and Brad Smith, Diana Walker, and Lyn Smith as members.
The Exchange Club of Vero Beach Scholars is led by Susan Chenault, Chairman on every filing since 2021; none of the 6 officers listed in 2025 report compensation.
Officers on the 2025 filing
Susan Chenault
Chairman
On filings since 2021
2 hrs/week
No compensation reported
Jack McAfee
Treasurer
On filings since 2021
2 hrs/week
No compensation reported
Nancy Madsen
Secretary
On filings since 2021
2 hrs/week
No compensation reported
Brad Smith
Member
New on the 2025 filing
2 hrs/week
No compensation reported
Diana Walker
Member
New on the 2025 filing
2 hrs/week
No compensation reported
Lyn Smith
Member
New on the 2025 filing
2 hrs/week
No compensation reported
Former officers (3)
- Former: Dustin Haynes (2024) — Vice Chairman
- Former: Rick Hahn (2022–2023) — Vice Chairman
- Former: Roy Howard (2021) — Vice Chairman
Data from IRS Form 990 filings, 2021–2025. "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 The Exchange Club of Vero Beach Scholars
How much does The Exchange Club of Vero Beach Scholars give each year?
The Exchange Club of Vero Beach Scholars gave $42K across 10 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $38K across 11 grants.
What is The Exchange Club of Vero Beach Scholars's typical grant size?
The Exchange Club of Vero Beach Scholars's median grant in 2025 was $4,000, and its average grant was $4,150, across 10 grants on its 2025 IRS Form 990-PF.
Where does The Exchange Club of Vero Beach Scholars give grants?
The Exchange Club of Vero Beach Scholars gives mostly in Florida: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does The Exchange Club of Vero Beach Scholars give general operating support?
Not in 2025: none of the 10 grants with a stated purpose on The Exchange Club of Vero Beach Scholars's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarship" (10 grants).
How large is The Exchange Club of Vero Beach Scholars?
The Exchange Club of Vero Beach Scholars reported $732K in total assets on its 2025 IRS Form 990-PF. It paid out $42K in qualifying distributions that year, against a required minimum of $43K (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 does The Exchange Club of Vero Beach Scholars fund?
The foundation’s 2024 filing describes its direct charitable activity as providing college scholarships to graduates of public high schools in Indian River County, Florida. See mission & focus areas ↑
How do I apply for a grant from The Exchange Club of Vero Beach Scholars?
The 2024 filing says forms are provided to each applicant. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Exchange Club of Vero Beach Scholars's EIN?
The Exchange Club of Vero Beach Scholars's EIN (Employer Identification Number) is 59-2967807. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
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