Tim Terry & Gretchen Rice-Terry Foundation Ltd

Private foundation · Grantmaker Cedar Rapids, IA EIN: 46-4465056

Tim Terry & Gretchen Rice-Terry Foundation Ltd is a private foundation focused on Education, based in Cedar Rapids, IA. IRS filing data is available from 2019 through 2023. In 2023, it awarded 6 grants totaling $8K. Net investment income was $2.

Key facts about Tim Terry & Gretchen Rice-Terry Foundation Ltd

In short: Tim Terry & Gretchen Rice-Terry Foundation Ltd gave $8K across 6 grants in 2023 (avg $1K), mostly in Iowa. Source: 2023 IRS Form 990-PF.

EIN
46-4465056
Latest 990 filing
Form 990-PF, 2023
Annual giving (2023)
$7,550
Grants made (2023)
6
Average grant
$1,258
Median grant
$175
Primary geography
Iowa (97% of itemized 2023 grant dollars)

Data from IRS Form 990-PF, 2023; updated September 2026.

Financial Overview

From 2023 IRS Form 990-PF · View filing

Total Assets

—

-100.0% YoY

Annual Giving

$8K

-11.2% YoY

Grant Count

6

+200.0% YoY

Avg Grant Size

$1K

-70.4% YoY

Under IRS private-foundation payout rules, Tim Terry & Gretchen Rice-Terry Foundation Ltd reported a distributable amount of $180 for 2023 — the minimum it must pay out in qualifying distributions.

How Tim Terry & Gretchen Rice-Terry Foundation Ltd gives

  • Giving fell 58% from 2020 to 2023. Method
  • In 2023 it paid out well above its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

5states

Share of 2023 grant dollars across all 6 itemized grants.

Cities

Iowa CityCedar RapidsWorcesterNew YorkBrooklandvilleCoralvilleDes Plaines

Giving Over Time

Total grant dollars and number of grants per year

$0$5K$10K$15K$20K8 grants2019 12 grants2020 2 grants2021 2 grants2022 6 grants2023

From 2019 to 2023, annual grant giving ranged from $600 (2021) to $18K (2020). In 2023 it made 6 grants totaling $8K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 6 recipients in 2023

University of Iowa: $6KUniversity of Iowa$6KIccsd Foundation: $1KIccsd Foundation$1KMercy Health Foundation: $250Mercy Health Foundation$250Altrusa: $100Altrusa$100Community: $100Community$100Iowa Valley Habitat for Humanity: $100Iowa Valley Habitat forHumanity$100

The largest 2023 recipient was University of Iowa ($6K). Together the top 6 received $8K.

Grant Size Distribution

30 grants across all recorded years

30<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 30 grants of 30 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
University of Iowa Iowa City, IAGeneral Operating$6,000
Iccsd Foundation Iowa City, IAGeneral Operating$1,000
Mercy Health Foundation Cedar Rapids, IAGeneral Operating$250
Altrusa Des Plaines, ILGeneral Operating$100
Community New York, NYGeneral Operating$100
Iowa Valley Habitat for Humanity Iowa City, IAGeneral Category$100

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$20K$40K$60K$80K2019 2020 2021 2022 2023
Metric202320222021
Total Assets—$8,562$17,621
Revenue$2$7$9
Expenses$8,564$9,066$601
Qualifying Distributions$8,564$9,066$600
Net Investment Income$2$7$9
Distributable Amount$180$662$876

Data update history

When this profile's IRS filing data changed on Grantable

  1. Added Form 990-PF for fiscal year 2019 (received by the IRS April 29, 2020)
  2. IRS filings on file for fiscal years 2020–2023

Leadership & Key People

Officers and directors from IRS filings

Tim Terry & Gretchen Rice-Terry Foundation Ltd is led by Kevin Terry, President on every filing since 2019; none of the 4 officers listed in 2023 report compensation.

Officers on the 2023 filing

  • Kevin Terry

    President

    On filings since 2019

    1 hr/week

    No compensation reported

  • Gretchen Rice

    Treasurer

    On filings since 2019

    1 hr/week

    No compensation reported

  • Kristina Adams

    Secretary

    On filings since 2019

    1 hr/week

    No compensation reported

  • Patricia Davidson

    Vice President

    On filings since 2019

    1 hr/week

    No compensation reported

Former officers (1)
  • Former: Timothy Terry (2019–2020) — Director

Data from IRS Form 990 filings, 2019–2023. "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 Tim Terry & Gretchen Rice-Terry Foundation Ltd

How much does Tim Terry & Gretchen Rice-Terry Foundation Ltd give each year?

Tim Terry & Gretchen Rice-Terry Foundation Ltd gave $8K across 6 grants in 2023, according to its 2023 IRS Form 990-PF. In 2022 it gave $9K across 2 grants.

What is Tim Terry & Gretchen Rice-Terry Foundation Ltd's typical grant size?

Tim Terry & Gretchen Rice-Terry Foundation Ltd's median grant in 2023 was $175, and its average grant was $1,258, across 6 grants on its 2023 IRS Form 990-PF.

Where does Tim Terry & Gretchen Rice-Terry Foundation Ltd give grants?

Tim Terry & Gretchen Rice-Terry Foundation Ltd gives mostly in Iowa: 97% of the grant dollars itemized on its 2023 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Iowa City, IA (3 grants).

Does Tim Terry & Gretchen Rice-Terry Foundation Ltd give general operating support?

Yes: 100% of Tim Terry & Gretchen Rice-Terry Foundation Ltd's 2023 grants with a stated purpose (6 of 6) were for general or operating support, per its 2023 IRS Form 990-PF.

Who are Tim Terry & Gretchen Rice-Terry Foundation Ltd's largest grantees?

Tim Terry & Gretchen Rice-Terry Foundation Ltd's largest 2023 grantees include University of Iowa ($6,000), Iccsd Foundation ($1,000) and Mercy Health Foundation ($250), according to its 2023 IRS Form 990-PF. Together they received 96% of its itemized 2023 grant dollars.

What is Tim Terry & Gretchen Rice-Terry Foundation Ltd?

Tim Terry & Gretchen Rice-Terry Foundation Ltd is a private foundation focused on Education, based in Cedar Rapids, IA.

How much is Tim Terry & Gretchen Rice-Terry Foundation Ltd required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2023, Tim Terry & Gretchen Rice-Terry Foundation Ltd reported a distributable amount of $180 on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Tim Terry & Gretchen Rice-Terry Foundation Ltd's EIN?

Tim Terry & Gretchen Rice-Terry Foundation Ltd's EIN (Employer Identification Number) is 46-4465056. IRS Form 990 filing data is available on this page for 2019–2023.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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