W D & Shirley Schafer-Ray Educational Trust
W D & Shirley Schafer-Ray Educational Trust is a private foundation based in Creston, Iowa. It provides educational grants to nonprofit private and public universities; its 2025 grants included scholarships and support for education of the learning disabled.
W D & Shirley Schafer-Ray Educational Trust at a glance
In short: W D & Shirley Schafer-Ray Educational Trust gave $313K across 22 grants in 2025 (avg $14K), mostly in Iowa. 39% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $313,000
- +8.3% vs 2024
- Grants made (2025)
- 22
- -21.4% vs 2024
- Average grant
- $14,227
- +37.8% vs 2024
- Median grant
- $3,000
- Total assets
- $5,412,496
- -3.9% vs 2024
- New grantees (estimate)
- 39% first-time grantees (7 of 18, 2025; small sample)
- Primary geography
- Iowa (76% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to W D & Shirley Schafer-Ray Educational Trust
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 401 West Adams St PO Box 109, Creston, IA 50801
Phone: (641) 782-1000
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who W D & Shirley Schafer-Ray Educational Trust funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Southwestern Community College ($128K). Together the top 10 received $269K.
Organizations only. It also paid 4 individual scholarships ($28,000), which are not listed by name.
Grant Size Distribution
60 grants across all recorded years
The most common grant size was under $50K: 57 grants of 60 (95%).
Geographic Focus
Where this funder awards grants
In 2025, the distribution of grant dollars by recipient state was Iowa 76%, Tennessee 10%, Missouri 7%, Arkansas 3%, and an individual recipient 1%.
Grant Distribution by State
Share of 2025 grant dollars across all 22 itemized grants.
States
Cities
Is W D & Shirley Schafer-Ray Educational Trust open to new grantees?
39%
first-time grantees, 2025
In 2025, 7 of 18 grantees (39%) were first-time recipients. With only 18 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. First grants averaged $4K; repeat grants $23K. How we count
Medians: $3K first-time, $4K repeat.
- 61% of 2025 grantees were also funded in 2024. Method
- Giving grew 76% from 2022 to 2025. Method
- In 2025 it paid out 112% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2022–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2022 to 2025, annual grant giving ranged from $178K (2022) to $313K (2025). In 2025 it made 22 grants totaling $313K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Southwestern Community College Creston, IA | Scholarship | $128,200 |
| Iowa State University Ames, IA | Scholarship | $47,500 |
| University of Memphis Memphis, TN | Education of the learning disabled | $31,300 |
| 4 individual scholarships Recipients not named | — | $28,000 |
| University of Northern Iowa Cedar Falls, IA | Scholarship | $16,000 |
| University of Iowa Iowa City, IA | Scholarship | $15,000 |
| Central College Pella, IA | Scholarship | $11,000 |
| Arkansas State University Jonesboro, AR | Scholarship | $10,000 |
| Simpson College Indianola, IA | Scholarship | $4,000 |
| Columbia College Dubuque, IA | Scholarship | $3,000 |
Ready to take the next step with W D & Shirley Schafer-Ray Educational Trust?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $5,412,496 | $196,316 | $399,688 | $313,000 | 22 | $358,000 | $106,780 | $318,714 |
| 2024 | $5,632,898 | $182,803 | $373,507 | $289,000 | 28 | $334,067 | $112,952 | $306,106 |
| 2022 | $6,364,259 | $163,289 | $277,700 | $178,000 | 10 | $178,000 | $125,182 | $281,133 |
| 2021 | $6,365,368 | $6,642,068 | $55,435 | — | — | $2,514 | $397,963 | $169,627 |
Under IRS private-foundation payout rules, W D & Shirley Schafer-Ray Educational Trust reported a distributable amount of $319K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement is provided. The foundation states that its direct charitable activity is providing educational grants to nonprofit private and public universities. Its 2025 grants included scholarships to colleges and universities and a grant to the University of Memphis for education of the learning disabled.
Among its 2025 grantees, Southwestern Community College says its mission includes providing scholarships to its students and grants to support the college’s academic development and growth. The University of Northern Iowa Foundation says it grows and sustains private resources to support the university, its students, faculty, staff, and programs. Central College describes itself as a residential liberal arts college focused on helping students develop their potential.
Grantmaking
In 2025, the trust awarded 22 grants totaling $313,000. Grants ranged from $1,000 to $128,200, with a median of $3,000. The largest awards included $128,200 to Southwestern Community College for scholarships, $47,500 to Iowa State University for scholarships, $31,300 to the University of Memphis for education of the learning disabled, and $21,000 to an individual recipient State University for scholarships. Other notable awards included $16,000 to the University of Northern Iowa, $15,000 to the University of Iowa, and $11,000 to Central College, each for scholarships.
Leadership & Key People
Officers and directors from IRS filings
W D & Shirley Schafer-Ray Educational Trust's only listed officer is Iowa State Savings Bank, Trustee on every filing since 2021 (compensated).
Officers on the 2025 filing
Iowa State Savings Bank
Trustee
On filings since 2021
3 hrs/week
$34K (2021) → $75K (2025)
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $75K, to Iowa State Savings Bank (Trustee).
Frequently asked questions about W D & Shirley Schafer-Ray Educational Trust
How much does W D & Shirley Schafer-Ray Educational Trust give each year?
W D & Shirley Schafer-Ray Educational Trust gave $313K across 22 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $289K across 28 grants.
What is W D & Shirley Schafer-Ray Educational Trust's typical grant size?
W D & Shirley Schafer-Ray Educational Trust's median grant in 2025 was $3,000, and its average grant was $14,227, across 22 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from W D & Shirley Schafer-Ray Educational Trust that year got $4K on average.
Where does W D & Shirley Schafer-Ray Educational Trust give grants?
W D & Shirley Schafer-Ray Educational Trust gives mostly in Iowa: 76% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were Tennessee (10%) and Missouri (7%). The most frequent recipient cities were Des Moines, IA (2 grants).
Does W D & Shirley Schafer-Ray Educational Trust give general operating support?
Not in 2025: none of the 22 grants with a stated purpose on W D & Shirley Schafer-Ray Educational Trust's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarship" (21 grants).
Who are W D & Shirley Schafer-Ray Educational Trust's largest grantees?
W D & Shirley Schafer-Ray Educational Trust's largest 2025 grantees include Southwestern Community College ($128,200), Iowa State University ($47,500) and University of Memphis ($31,300), according to its 2025 IRS Form 990-PF. It also paid 4 individual scholarships ($28,000), which are not listed by name. Together they received 66% of its itemized 2025 grant dollars.
How large is W D & Shirley Schafer-Ray Educational Trust?
W D & Shirley Schafer-Ray Educational Trust reported $5.4M in total assets on its 2025 IRS Form 990-PF. It paid out $358K in qualifying distributions that year, against a required minimum of $319K (roughly 5% of its investment assets).
What does W D & Shirley Schafer-Ray Educational Trust fund?
No mission statement is provided. The foundation states that its direct charitable activity is providing educational grants to nonprofit private and public universities. See mission & focus areas ↑
How do I apply for a grant from W D & Shirley Schafer-Ray Educational Trust?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is W D & Shirley Schafer-Ray Educational Trust's EIN?
W D & Shirley Schafer-Ray Educational Trust's EIN (Employer Identification Number) is 86-6589915. IRS Form 990 filing data is available on this page for 2021–2025.
Does W D & Shirley Schafer-Ray Educational Trust accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 12, 2026)
- IRS filings on file for fiscal years 2021–2024
Live grants for the work W D & Shirley Schafer-Ray Educational Trust funds
Education Open opportunities, soonest deadline first.
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Cite this profile
Grantable. (2026). W D & Shirley Schafer-Ray Educational Trust funder profile. GrantGraph. Retrieved October 20, 2026, from https://grantable.co/funders/w-d-and-shirley-schafer-ray-educational-trust-morg_a0ce418d2e9244f5a369b166384cf6a2
BibTeX
@misc{grantable_866589915_2026,
author = {{Grantable}},
title = {{W D \& Shirley Schafer-Ray Educational Trust funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/w-d-and-shirley-schafer-ray-educational-trust-morg_a0ce418d2e9244f5a369b166384cf6a2},
note = {Accessed 2026-10-20. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from W D & Shirley Schafer-Ray Educational Trust's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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