Trustage Foundation Inc
TruStage Foundation Inc is a private 501(c)(3) foundation and the philanthropic arm of TruStage, a financial services organization. Based in Madison, Wisconsin, the foundation has been operating since its incorporation in 1967. The foundation supports nonprofit organizations working across multiple sectors with a strategic focus on economic mobility and community strengthening.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$3.6M
-29.1% YoY
Grant Count
74
-22.1% YoY
Avg Grant Size
$48K
-9.0% YoY
Mission & Focus Areas
The foundation supports organizations involved with arts and culture, education, health, mental health, human services, and community development, with special emphasis directed toward programs designed to serve at-risk youth.
The foundation's philanthropic efforts center on two key areas:
Education — Supporting K-12th grade students through literacy programs, mentoring, tutoring, and youth development initiatives.
Housing — Funding affordable housing development, homelessness response services, homeownership support, and rental assistance.
The foundation is committed to equity and social justice, intentionally directing strategic investments toward organizations and programs that create structural and systemic change in underrepresented and marginalized communities.
Grantmaking
The foundation offers multiple funding mechanisms:
Grant Types
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Wisconsin and Iowa, with particular concentration in:
- Madison, Wisconsin — The location of TruStage's corporate headquarters and the largest percentage of company employees. In 2025, more than $2.6 million was invested in Madison-area nonprofits.
- Waverly, Iowa and broader Iowa — In 2025, close to $800,000 was distributed to organizations in this region.
The foundation also makes grants in the District of Columbia.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Giving (as of most recent filings)
- Total assets: $14,419,175 (2023); $14,628,211 (2024)
- Total giving: $3,558,457 (2024)
- Total revenues: $345,959 (2023)
- Total expenses: $5,029,154 (2023)
- Investment income and dividends: $585,291 (2023)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
1 open opportunity from Trustage Foundation Inc
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Bayview Foundation Inc ($150,000), Iowa Heartland Habitat for Humanity ($100,000), The Jesse Cosby Center ($70,000).
| Recipient | Purpose | Amount |
|---|---|---|
| WORKING AGAINST VIOLENCE INC RAPID CITY, SD | CHARITABLE | $30,000 |
| WOMENS INSTITUTE FOR A SECURE RETIREMENT WASHINGTON, DC | CHARITABLE | $250 |
| WISCONSIN HEIGHTS EDUCATION FOUNDATION INC MAZOMANIE, WI | CHARITABLE | $250 |
| WISCONSIN HEIGHTS EDUCATION FOUNDATION INC MAZOMANIE, WI | CHARITABLE | $250 |
| WISCONSIN HEIGHTS EDUCATION FOUNDATION INC MAZOMANIE, WI | CHARITABLE | $250 |
| WISCONSIN INSTITUTE FOR LEARNING DISABILITIES DYSLEXIA MADISON, WI | CHARITABLE | $6,000 |
| UNITED WAY WAVERLY SHELL ROCK WAVERLY, IA | CHARITABLE | $60,000 |
| WAVERLY-SHELL ROCK MIDDLE SCHOOL WAVERLY, IA | CHARITABLE | $5,000 |
| THE UPLIFT FOUNDATION CUSTER, WI | CHARITABLE | $10,000 |
| NATIONWIDE CHIRLDREN'S HOSPITAL FOUNDATION COLUMBUS, OH | CHARITABLE | $250 |
Leadership & Key People
Leadership team and compensation from IRS filings
Kate Austin Stanford — Executive Director of the TruStage Foundation
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ANGELA RUSSELL | PRESIDENT / DIRECTOR | 1 | — |
| PAUL BARBATO | SECRETARY | 1 | — |
| BRIAN J BORAKOVE | TREASURER | 1 | — |
| KATHERINE L CASTRO | ASSISTANT SECRETARY | 1 | — |
| TODD M DUNNING | ASSISTANT TREASURER | 1 | — |
| JOHN CASSIDY | DIRECTOR (START 05/24) | 1 | — |
| ELIZABETH MCCLUSKEY | DIRECTOR (START 05/24) | 1 | — |
| DANIELLE CRUZ | DIRECTOR | 1 | — |
| EMILY GNAM | VICE PRESIDENT/DIRECTOR (END 11/24) | 1 | — |
| KELLY TOY | ASSISTANT SECRETARY | 1 | — |
| SCOTT TRAVIS | ASSISTANT TREASURER | 1 | — |
| ANGEL MCCANN-LAIR | DIRECTOR | 1 | — |
| LINDA NEDELCOFF | DIRECTOR | 1 | — |
Recent News & Activity
Recent developments and announcements
**2025 Community Investment Announcement (March 2026)**
The foundation announced it invested more than $3.9 million in 2025 across Wisconsin and Iowa communities. More than 45% of 2025 dollars supported housing initiatives, while 36% supported education-focused organizations. Close to $475,000 in additional funds were made available to local nonprofits.
TruStage Foundation invests more than $3.5 million**2024 Community Investment Announcement (March 2025)**
The foundation announced $3.5 million in investments across more than 65 nonprofit organizations. The significant increase in grant applications (120% growth from 2023 to 2024) prompted the foundation to indicate expectations for continued growth in community need and commitment to meeting that need alongside community partners.
TruStage Foundation invests more than $3.5 millionFrequently Asked Questions
What does Trustage Foundation Inc fund?
The foundation supports organizations involved with arts and culture, education, health, mental health, human services, and community development, with special emphasis directed toward programs designed to serve at-risk youth. The foundation's philanthropic efforts center on two key areas: **Education** — Supporting K-12th grade students through literacy programs, mentoring, tutoring, and youth development initiatives. **Housing** — Funding affordable housing development, homelessness response …
How do I apply for a grant from Trustage Foundation Inc?
**Grant Activity & Amounts** • In 2025, the foundation invested more than $3.9 million in nonprofit organizations • In 2024, the foundation invested $3.5 million across more than 65 nonprofit organizations and social impact projects • Typical award ranges from $134 to $650,000 • In 2024, 53% of dollars awarded ($1.85 million) went to housing-focused organizations, while 29% ($1 million) went to education-focused organizations **Grant Types** The foundation offers multiple funding mechanisms: • …
Where does Trustage Foundation Inc make grants?
The foundation primarily funds organizations in Wisconsin and Iowa, with particular concentration in: • **Madison, Wisconsin** — The location of TruStage's corporate headquarters and the largest percentage of company employees. In 2025, more than $2.6 million was invested in Madison-area nonprofits. • **Waverly, Iowa and broader Iowa** — In 2025, close to $800,000 was distributed to organizations in this region. The foundation also makes grants in the District of Columbia.
What size grants does Trustage Foundation Inc award?
In 2024, Trustage Foundation Inc awarded 74 grants totaling $3.6M — an average of about $48K per grant, based on its IRS Form 990 filings.
What is Trustage Foundation Inc's EIN?
Trustage Foundation Inc's EIN (Employer Identification Number) is 39-6105418. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Trustage Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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