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. IRS filing data is available from 2019 through 2023. In 2023, it awarded 6 grants totaling $8K. Net investment income was $2.
Tim Terry & Gretchen Rice-Terry Foundation Ltd at a glance
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.
- Annual giving (2023)
- $7,550
- -11.2% vs 2022
- Grants made (2023)
- 6
- +200.0% vs 2022
- Average grant
- $1,258
- -70.4% vs 2022
- Median grant
- $175
- Primary geography
- Iowa (97% of itemized 2023 grant dollars)
- Latest 990 filing
- Form 990-PF, 2023 View filing
Data from IRS Form 990-PF, 2023; updated September 2026.
Who Tim Terry & Gretchen Rice-Terry Foundation Ltd funds
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2023
The largest 2023 recipient was University of Iowa ($6K). Together the top 6 received $8K.
Grant Size Distribution
30 grants across all recorded years
The most common grant size was under $50K: 30 grants of 30 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2023 grant dollars across all 6 itemized grants.
Cities
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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2023, annual grant giving ranged from $600 (2021) to $18K (2020). In 2023 it made 6 grants totaling $8K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Iowa Iowa City, IA | General Operating | $6,000 |
| Iccsd Foundation Iowa City, IA | General Operating | $1,000 |
| Mercy Health Foundation Cedar Rapids, IA | General Operating | $250 |
| Altrusa Des Plaines, IL | General Operating | $100 |
| Community New York, NY | General Operating | $100 |
| Iowa Valley Habitat for Humanity Iowa City, IA | General Category | $100 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2023 | — | $2 | $8,564 | $7,550 | 6 | $8,564 | $2 | $180 |
| 2022 | $8,562 | $7 | $9,066 | $8,500 | 2 | $9,066 | $7 | $662 |
| 2021 | $17,621 | $9 | $601 | $600 | 2 | $600 | $9 | $876 |
| 2020 | $18,213 | $50 | $17,948 | $17,803 | 12 | — | $50 | $1,443 |
| 2019 | $36,111 | $54,668 | $8,232 | $8,100 | 8 | — | $14,536 | $274 |
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.
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.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS April 29, 2020)
- IRS filings on file for fiscal years 2020–2023
Live grants for the work Tim Terry & Gretchen Rice-Terry Foundation Ltd funds
Education Open opportunities, soonest deadline first.
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