WB Small Trust
WB Small Trust is a private foundation based in Cedar Falls, Iowa. It provides scholarships to students with Iowa ties who are pursuing a Master of Divinity at an accredited seminary, helping with seminary-related expenses.
WB Small Trust at a glance
In short: WB Small Trust gave $98K across 49 grants in 2025 (avg $2K), top state Iowa. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $98,000
- +12.0% vs 2024
- Grants made (2025)
- 49
- +19.5% vs 2024
- Average grant
- $2,000
- -6.3% vs 2024
- Median grant
- $2,000
- Total assets
- $1,820,857
- -0.0% vs 2024
- Primary geography
- Iowa (35% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to WB Small Trust
- How to Apply
-
Submit the scholarship application online with the required materials. The website lists June 1 as the application deadline; that deadline for 2026 has passed. Current application-cycle dates are not stated. For renewal, current recipients must submit the renewal form and most recent official transcript by June 15; that deadline for 2026 has passed.
- Contact
Application contact: Board Of Trustees Wb Small Trust
Mailing address: PO Box 1034, Cedar Falls, IA 50613
Phone: (319) 277-8000
Website: https://www.wbsmalltrust.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who WB Small Trust funds
How this funder distributes its grants
Grant Size Distribution
168 grants across all recorded years
The most common grant size was under $50K: 167 grants of 168 (99%).
Geographic Focus
Where this funder awards grants
The scholarship program requires applicants to have lived or currently live in Iowa. In 2025, the largest shares of grant dollars went to recipients in Iowa (35%), Illinois (33%), and Missouri (14%); New Jersey and Wisconsin each accounted for 6%.
Grant Distribution by State
Share of 2025 grant dollars across all 49 itemized grants.
States
Cities
How WB Small Trust gives
- Giving held roughly steady from 2022 to 2025 (+0%). Method
- In 2025 it paid out 105% of 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 2025, annual grant giving ranged from $80K (2019) to $104K (2023). In 2025 it made 49 grants totaling $98K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 49 individual scholarships Recipients not named | — | $98,000 |
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Financial History
Multi-year comparison from IRS filings
The filing type is Form 990-PF.
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $1,820,857 | $129,047 | $129,424 | $98,000 | 49 | $109,645 | $110,904 | $104,868 |
| 2024 | $1,821,234 | $112,461 | $117,070 | $87,500 | 41 | $98,385 | $94,651 | $103,608 |
| 2023 | $1,828,324 | $88,847 | $138,925 | $104,000 | 41 | $117,991 | $71,526 | $98,675 |
| 2022 | $1,876,310 | $95,399 | $121,604 | $98,000 | 36 | $103,952 | $77,747 | $101,778 |
| 2021 | $1,901,293 | $199,275 | $127,822 | $100,000 | 1 | $109,575 | $181,028 | $109,071 |
| 2020 | $1,829,840 | $48,250 | $119,803 | $93,250 | 1 | — | $31,989 | $99,705 |
| 2019 | $1,901,393 | $91,492 | $118,819 | $80,000 | 1 | — | $75,133 | $99,501 |
Under IRS private-foundation payout rules, WB Small Trust reported a distributable amount of $105K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The trust’s 2024 filing describes its charitable activity as providing scholarship grants to assist young men and women in obtaining higher education in Christian colleges and universities. Its website focuses the scholarship program on full-time Christian students pursuing an MDiv at an Association of Theological Schools-accredited seminary who have lived or currently live in Iowa.
The website lists tuition, books, gas, and childcare as eligible seminary-related expenses. The filing says the scholarship activity is conducted on an objective, nondiscriminatory basis without regard to age, gender, race, or disability.
Grantmaking
In filing year 2025, the trust reported 49 grants totaling $98,000. Each itemized grant was $2,000; the median was also $2,000. The listed recipients were individuals, and the stated purpose was tuition and books. The trust’s website says it awards up to 18 scholarships each year, with awards of up to $4,000 annually, generally paid in fall and spring installments of up to $2,000 each. Scholarships may be renewed for up to three years.
The filing says the trustees generally limit grants to $2,000 per semester per applicant, although the approved grant-making procedures do not contain restrictions or limitations on awards. The trust’s website requires an online application, three recommendation letters, and the applicant’s most recent official transcript. It says selection is based on financial need, Iowa connection, academic record, statement of faith, and recommendation letters.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists four trustees: Robert L. Smith Jr., Reverend Cathy F. Young, Lori Johnson, and Jack R. Locke. The trust’s website identifies Lori Johnson as chair and says Deanna Brasch serves as administrator.
WB Small Trust's 2025 filing lists 4 officers; none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
Lori Johnson
Trustee
On filings since 2019
2 hrs/week
No compensation reported
Reverend Cathy F. Young
Trustee
On filings since 2019
2 hrs/week
No compensation reported
Robert L. Smith Jr.
Trustee
On filings since 2019
2 hrs/week
No compensation reported
Jack R. Locke
Trustee
On filings since 2024
2 hrs/week
No compensation reported
Former officers (1)
- Former: John Locke (2019–2023) — Trustee
Data from IRS Form 990 filings, 2019–2025. "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 WB Small Trust
How much does WB Small Trust give each year?
WB Small Trust gave $98K across 49 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $88K across 41 grants.
What is WB Small Trust's typical grant size?
WB Small Trust's median grant in 2025 was $2,000, and its average grant was $2,000, across 49 grants on its 2025 IRS Form 990-PF.
Where does WB Small Trust give grants?
WB Small Trust's top state is Iowa, with 35% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were Illinois (33%) and Missouri (14%).
Does WB Small Trust give general operating support?
Not in 2025: none of the 49 grants with a stated purpose on WB Small Trust's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Tuition/Books" (49 grants).
How large is WB Small Trust?
WB Small Trust reported $1.8M in total assets on its 2025 IRS Form 990-PF. It paid out $110K in qualifying distributions that year, against a required minimum of $105K (roughly 5% of its investment assets).
What does WB Small Trust fund?
The trust’s 2024 filing describes its charitable activity as providing scholarship grants to assist young men and women in obtaining higher education in Christian colleges and universities. See mission & focus areas ↑
How do I apply for a grant from WB Small Trust?
Submit the scholarship application online with the required materials. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is WB Small Trust's EIN?
WB Small Trust's EIN (Employer Identification Number) is 42-6161925. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS June 9, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS September 10, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 15, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 22, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 10, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS March 4, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS February 12, 2026)
- IRS filings on file for fiscal years 2019–2025
Live grants for the work WB Small Trust funds
Education Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in WB Small Trust's focus areas in our free grants database
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