Underwood Family Foundation Inc

MEQUON, WI EIN: 85-4252313

Underwood Family Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in MEQUON, WI. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.6M in total assets. In 2024, it awarded 2 grants totaling $3K. Net investment income was $994K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$2.6M

+186.6% YoY

Annual Giving

$3K

+458.0% YoY

Grant Count

+100.0% YoY

Avg Grant Size

$1K

+179.0% YoY

Under IRS private-foundation payout rules, Underwood Family Foundation Inc reported a distributable amount of $12K for 2024 — the minimum it must pay out in qualifying distributions.

About Underwood Family Foundation Inc

Based on IRS filings

Focus Areas

Philanthropy, Voluntarism & Grantmaking

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Wisconsin $183K (100%)

States

Wisconsin

Cities

Manitowoc

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$2,615,165	$912,539	$887,645
Revenue	$2,724,216	$27,221	$330,589
Expenses	$8,484	$2,327	$5,824
Qualifying Distributions	$4,155	$525	$5,000
Net Investment Income	$994,191	$62	$97
Distributable Amount	$11,570	$2,770	$10,205

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2024

Grant Size Distribution

5 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Jason Tina Prigge Fund ($2,290), Manitowoc Symphony Orchestra ($500).

Recipient	Purpose	Amount
MANITOWOC SYMPHONY ORCHESTRA MANITOWOC, WI	PROGRAM SUPPORT	$500
JASON TINA PRIGGE FUND MANITOWOC, WI	MEDICAL HELP	$2,290

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
GARY UNDERWOOD	DIRECTOR	—	—
LINDA UNDERWOOD	DIRECTOR	—	—
KAYCE DESHOTELS	DIRECTOR	—	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is Underwood Family Foundation Inc?

Underwood Family Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in MEQUON, WI. It holds $2.6M in total assets as of 2024.

How large is Underwood Family Foundation Inc?

As of 2024, Underwood Family Foundation Inc holds $2.6M in total assets with $2.7M in annual revenue. It awarded 2 grants totaling $3K in 2024.

Where does Underwood Family Foundation Inc operate?

Underwood Family Foundation Inc has awarded grants in Wisconsin.

What size grants does Underwood Family Foundation Inc award?

In 2024, Underwood Family Foundation Inc awarded 2 grants totaling $3K — an average of about $1K per grant, based on its IRS Form 990 filings.

How much is Underwood Family Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Underwood Family Foundation Inc reported a distributable amount of $12K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Underwood Family Foundation Inc's EIN?

Underwood Family Foundation Inc's EIN (Employer Identification Number) is 85-4252313. IRS Form 990 filing data is available on this page for 2020–2024.