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.
Key facts about W D & Shirley Schafer-Ray Educational Trust
In short: W D & Shirley Schafer-Ray Educational Trust gave $313K across 22 grants in 2025 (avg $14K), mostly in Iowa. 41% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- EIN
- 86-6589915
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $313,000
- Grants made (2025)
- 22
- Average grant
- $14,227
- Median grant
- $3,000
- New grantees (estimate)
- 41% first-time grantees (9 of 22, 2025)
- Total assets
- $5,412,496
- Primary geography
- Iowa (76% of itemized 2025 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Full details ↓
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$5.4M
-3.9% YoY
Annual Giving
$313K
+8.3% YoY
Grant Count
22
-21.4% YoY
Avg Grant Size
$14K
+37.8% YoY
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.
Is W D & Shirley Schafer-Ray Educational Trust open to new grantees?
41%
first-time grantees, 2025
In 2025, 9 of 22 grantees (41%) were first-time recipients. First grants averaged $4K; repeat grants $22K. How we count
Medians: $2K first-time, $4K repeat.
- 59% 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.
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 Northwest Missouri 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.
Ready to take the next step with W D & Shirley Schafer-Ray Educational Trust?
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 South Dakota 1%.
Grant Distribution by State
Share of all 22 itemized 2025 grant dollars.
States
Cities
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.
Grant Insights
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 $288K.
Grant Size Distribution
60 grants across all recorded years
The most common grant size was under $50K: 57 grants of 60 (95%).
Giving History
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 |
| Northwest Missouri State University Maryville, MO | Scholarship | $21,000 |
| 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 |
| South Dakota State University Brookings, SD | Scholarship | $4,000 |
| Simpson College Indianola, IA | Scholarship | $4,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grant total | Grant count |
|---|---|---|---|---|---|
| 2025 | $5,412,496 | $196,316 | $399,688 | $313,000 | 22 |
| 2024 | $5,632,898 | $182,803 | $373,507 | $289,000 | 28 |
| 2022 | $6,364,259 | $163,289 | $277,700 | $178,000 | 10 |
| Metric | 2025 | 2024 | 2022 |
|---|---|---|---|
| Total Assets | $5,412,496 | $5,632,898 | $6,364,259 |
| Revenue | $196,316 | $182,803 | $163,289 |
| Expenses | $399,688 | $373,507 | $277,700 |
| Qualifying Distributions | $358,000 | $334,067 | $178,000 |
| Net Investment Income | $106,780 | $112,952 | $125,182 |
| Distributable Amount | $318,714 | $306,106 | $281,133 |
Data update history
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
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 the 2021 filing (compensated).
Officers on the 2021 filing
The latest filing that lists officers: our copy of the 2022–2025 filings list none.
Iowa State Savings Bank
Trustee
New on the 2021 filing
3 hrs/week
$34K (2021)
Data from IRS Form 990 filings, 2021. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2021 IRS filing
The highest reported compensation on the 2021 filing was $34K, to Iowa State Savings Bank (Trustee).
Contact
Mailing address: 401 West Adams St PO Box 109, Creston, IA 50801
Phone: (641) 782-1000
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. 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 September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Here's the math on researching W D & Shirley Schafer-Ray Educational Trust by hand.
Explore Open Grants
Browse active grant opportunities in W D & Shirley Schafer-Ray Educational Trust's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
Tulsa Community Foundation
Tulsa, OK
Tulsa Community Foundation supports a broad range of charitable needs, including arts and humanities, healthcare, education, scholarships, emergency assistance, and endowments. Its 2024 grants had a median of $18,560 and primarily benefited the Tulsa area and eastern Oklahoma, with grants also reaching elsewhere in the U.S.; it administers application cycles for selected funds.
Assets
$1.1B
Grants
1,066
Total Given
$158.6M
Marguerite V Brown
Eagan, MN
This Eagan, Minnesota foundation funds scholarships for students attending colleges and universities, with most 2025 grant dollars going to Iowa and Nebraska recipients. It awarded 24 grants totaling $40,671, ranging from $200 to $9,849 (median $549). Applications are obtained through schools; the filing does not state whether it accepts unsolicited requests.
Assets
$755K
Grants
24
Total Given
$41K
La Amundson Ohana Foundation
Sleepy Eye, MN
The foundation supports health care, business, and technical trades, including scholarships and donations to schools and community organizations, with stated geographic restrictions in Minnesota, North Dakota, Montana, and Iowa. In 2024, its grants ranged from $2,000 to $175,000, with a median of $5,000. The filing says a sample application is attached and giving is not limited to preselected organizations; it does not state whether unsolicited requests are accepted.
Assets
—
Grants
67
Total Given
$764K
Community Fdn of Greater Des Moines
Des Moines, IA
The Community Foundation of Greater Des Moines funds nonprofits through competitive grants for community impact, organizational capacity, and collaboration, with 2026 priorities including housing, transportation, health, economic opportunity, and inclusion. Giving varies widely: 2024 grants had a median of $12,889, while Capacity Building grants are capped at $7,500. Its programs serve Greater Des Moines and, through an affiliated foundation, Adair County; unsolicited requests are not addressed in the profile.
Assets
$918.7M
Grants
1,259
Total Given
$55.7M
Roy J Carver Charitable Trust
Muscatine, IA
The Roy J. Carver Charitable Trust supports biomedical and scientific research, education and scholarships, youth services and recreation, and community libraries, primarily in Iowa and parts of Illinois. Its 2025 grants ranged from $1,000 to $3.45 million, with a median of about $121,000. Organizations must submit a written or electronic letter of inquiry first; the Trust may invite a full proposal.
Assets
$241.5M
Grants
87
Total Given
$16.5M
Pella Rolscreen Foundation
Pella, IA
The Pella Rolscreen Foundation supports charitable organizations working in education and community betterment, including civic, cultural, social, and physical-environment programs in communities where Pella Corporation employees live. Large grants generally range from $10,000 to $50,000 and typically cover no more than 25% of project costs; its 2024 grants had a median of $1,029. It accepts unsolicited requests from eligible 501(c)(3) nonprofits and government entities in communities where Pella has manufacturing plants.
Assets
$22.4M
Grants
433
Total Given
$1.9M
Iowa College Foundation
Des Moines, IA
The Iowa College Foundation supports scholarships and institutional initiatives at Iowa’s independent colleges and universities, with recent grants ranging from $5,250 to $79,154 and a median of $58,742. Its reported grants all went to Iowa recipients; the profile does not state whether it accepts unsolicited requests.
Assets
$8.8M
Grants
26
Total Given
$1.4M
Fahrney Education Fdtn Trust
Milwaukee, WI
The Fahrney Education Foundation Trust funds scholarships at educational institutions, with recent grants going to colleges and universities in Iowa. In 2025, grants ranged from $2,500 to $52,500, with a median of $7,500. It accepts scholarship applications by request; applicants submit a form, transcript, and signed personal letter, with an annual February 15 deadline.
Assets
—
Grants
17
Total Given
$233K
Ottumwa Regional Legacy Foundation Inc
Ottumwa, IA
The foundation funds community projects in Ottumwa and Wapello County, including work in health, education, housing, economic prosperity, and quality of life. Its annual grantmaking averages about $3 million; Bright Ideas grants are typically $2,500–$30,000, while awards overall vary widely. Bright Ideas accepts applications from eligible nonprofits; strategic grants are by invitation only.
Assets
—
Grants
216
Total Given
$3.1M
Gwendolyn and Lucian L Hinecker
Marshalltown, IA
Assets
$2.6M
Grants
8
Total Given
$121K
Prairie Meadows Race Track and Casino
Altoona, IA
Prairie Meadows funds arts and culture, education, economic development, human services, and youth sports and recreation through grants for projects in central Iowa and across Iowa. Its 2024 grant median was $15,000; program awards range from $100 to $1 million, depending on the grant program.
Assets
$327.6M
Grants
409
Total Given
$33.0M
Iowa Health Care Association Foundation
West Des Moines, IA
The Iowa Health Care Association Foundation funds scholarships and career-education resources for employees of member long-term-care organizations and Iowa high school students pursuing long-term-care careers. Its typical giving level varies: it awarded 287 grants totaling about $4.1 million in 2024, and the listed high school scholarship is $2,000. Its programs focus on Iowa; the profile does not state whether it accepts unsolicited requests.
Assets
$329K
Grants
287
Total Given
$4.1M
More Funders in Iowa
W D & Shirley Schafer-Ray Educational Trust down — hundreds of funders to go?