The Isabella Bank Foundation
The Isabella Bank Foundation is a private foundation, based in Mt Pleasant, MI. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $1.2M in total assets. In 2024, it awarded 4 grants totaling $132K. Net investment income was $62K.
The Isabella Bank Foundation at a glance
In short: The Isabella Bank Foundation gave $132K across 4 grants in 2024 (avg $33K), mostly in Michigan. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $132,250
- -32.1% vs 2023
- Grants made (2024)
- 4
- -55.6% vs 2023
- Average grant
- $33,063
- +52.8% vs 2023
- Median grant
- $10,500
- Total assets
- $1,190,518
- -5.6% vs 2023
- Primary geography
- Michigan (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
Who The Isabella Bank Foundation funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
The largest 2024 recipient was Central Michigan University ($106K). Together the top 4 received $132K.
Grant Size Distribution
36 grants across all recorded years
The most common grant size was under $50K: 31 grants of 36 (86%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 4 itemized grants.
States
Cities
How The Isabella Bank Foundation gives
- Giving held roughly steady from 2021 to 2024 (−19%). Method
- In 2024 it paid out 225% of its IRS minimum distribution (the 5% rule). 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 2019 to 2024, annual grant giving ranged from $132K (2024) to $238K (2019). In 2024 it made 4 grants totaling $132K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Central Michigan University Mt Pleasant, MI | Chippewa Champion Center | $106,250 |
| Mid Michigan College Foundation Harrison, MI | Baseball and Softball Equipment | $11,000 |
| Mid Michigan Medical Heart and Vascular Center Midland, MI | Heart & Vascular Center Campaign Pledge | $10,000 |
| Montcalm Community College Foundation Sidney, MI | Center of Nursing and Health Center | $5,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2024 | $1,190,518 | $63,831 | $134,680 | $132,250 | 4 | $132,250 | $61,830 | $58,801 |
| 2023 | $1,261,367 | $65,158 | $198,306 | $194,786 | 9 | $196,546 | $63,398 | $65,573 |
| 2022 | $1,394,515 | $130,986 | $158,116 | $151,250 | 5 | $154,290 | $27,946 | $72,016 |
| 2021 | $1,421,645 | $128,367 | $167,938 | $163,750 | 6 | $165,654 | $126,463 | $70,055 |
| 2020 | $1,461,216 | $53,933 | $231,924 | $228,750 | 12 | — | $52,346 | $67,699 |
| 2019 | $1,639,207 | $107,457 | $241,693 | $237,580 | 12 | — | $55,977 | $83,289 |
Under IRS private-foundation payout rules, The Isabella Bank Foundation reported a distributable amount of $59K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Isabella Bank Foundation is led by Neil McDonnell, President on the 2024 filing; none of the 6 officers listed in 2024 report compensation.
Officers on the 2024 filing
Neil McDonnell
President
New on the 2024 filing
5 hrs/week
No compensation reported
Jerome Schwind
Chairman & Treasurer
President → Chairman & Treasurer, 2024
On filings since 2019
5 hrs/week
No compensation reported
Dave Keilitz
Director
On filings since 2019
5 hrs/week
No compensation reported
James Wojcik
Director
On filings since 2019
5 hrs/week
No compensation reported
Steven Pung
Director
On filings since 2019
5 hrs/week
No compensation reported
Rechelle Richardson
Secretary
Secretary & Director → Secretary, 2022
On filings since 2019
5 hrs/week
No compensation reported
Former officers (1)
- Former: Jae Evans (2019–2023) — Chairman & Treasurer
Data from IRS Form 990 filings, 2019–2024. "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 Isabella Bank Foundation
How much does The Isabella Bank Foundation give each year?
The Isabella Bank Foundation gave $132K across 4 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $195K across 9 grants.
What is The Isabella Bank Foundation's typical grant size?
The Isabella Bank Foundation's median grant in 2024 was $10,500, and its average grant was $33,063, across 4 grants on its 2024 IRS Form 990-PF.
Where does The Isabella Bank Foundation give grants?
The Isabella Bank Foundation gives mostly in Michigan: 100% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there.
Does The Isabella Bank Foundation give general operating support?
Not in 2024: none of the 4 grants with a stated purpose on The Isabella Bank Foundation's 2024 IRS Form 990-PF were described as general or operating support.
How large is The Isabella Bank Foundation?
The Isabella Bank Foundation reported $1.2M in total assets on its 2024 IRS Form 990-PF. It paid out $132K in qualifying distributions that year, against a required minimum of $59K (roughly 5% of its investment assets).
What is The Isabella Bank Foundation's EIN?
The Isabella Bank Foundation's EIN (Employer Identification Number) is 38-3348258. IRS Form 990 filing data is available on this page for 2019–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS June 1, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS September 29, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS August 5, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS October 30, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 15, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 13, 2025)
- IRS filings on file for fiscal years 2019–2024
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