Willard and Ann True Foundation Inc
Willard and Ann True Foundation Inc is a private foundation focused on Education, based in Belleair Bluffs, FL. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $1.2M in total assets. In 2025, it awarded 4 grants totaling $58K. Net investment income was $156K.
Willard and Ann True Foundation Inc at a glance
In short: Willard and Ann True Foundation Inc gave $58K across 4 grants in 2025 (avg $14K), top state Florida. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $57,536
- +15.5% vs 2024
- Grants made (2025)
- 4
- +33.3% vs 2024
- Average grant
- $14,384
- -13.4% vs 2024
- Median grant
- $13,768
- Total assets
- $1,244,092
- +8.1% vs 2024
- Primary geography
- Florida (35% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Willard and Ann True Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2025
The largest 2025 recipient was Indian Rocks Christian School ($20K). Together the top 4 received $58K.
Grant Size Distribution
11 grants across all recorded years
The most common grant size was under $50K: 11 grants of 11 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 4 itemized grants.
Cities
How Willard and Ann True Foundation Inc gives
- Giving grew 156% from 2022 to 2025. Method
- In 2024 it paid out 91% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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 2021 to 2025, annual grant giving ranged from $20K (2023) to $58K (2025). In 2025 it made 4 grants totaling $58K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Indian Rocks Christian School Largo, FL | Charitable 501c3 Non-Profit | $20,000 |
| Eternal Family Project Hiram, GA | Charitable | $17,536 |
| Cross Trail Outfitters Manteo, NC | Charitable | $10,000 |
| Mel Blount Youth Home Claysville, PA | Charitable 501c3 Non-Profit | $10,000 |
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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 | $1,244,092 | $156,269 | $126,054 | $57,536 | 4 | — | $156,269 | $54,501 |
| 2024 | $1,150,839 | $140,728 | $111,956 | $49,815 | 3 | $49,815 | $120,616 | $55,002 |
| 2023 | $1,079,523 | $67,365 | $116,448 | $20,176 | 2 | $87,439 | $8,042 | $48,947 |
| 2022 | $1,121,106 | $72,934 | $114,560 | $22,500 | 1 | $85,327 | $10,141 | $50,862 |
| 2021 | $1,129,482 | $1,208,517 | $79,035 | $21,250 | 1 | $21,250 | $110,533 | $104,952 |
Under IRS private-foundation payout rules, Willard and Ann True Foundation Inc reported a distributable amount of $55K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Willard and Ann True Foundation Inc is led by William K Lovelace, Director President on every filing since 2021; all 3 officers listed in 2025 are compensated.
Officers on the 2025 filing
William K Lovelace
Director President
On filings since 2021
1 hr/week
$11K (2021) → $12K (2025)
Debra A Snyder
Director Treasurer
On filings since 2021
2 hrs/week
$11K (2021) → $12K (2025)
Lee Young
Director Vice President
On filings since 2021
1 hr/week
$11K (2021) → $12K (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 $12K, to William K Lovelace (Director President). 3 officers or directors reported compensation on that filing.
Frequently asked questions about Willard and Ann True Foundation Inc
How much does Willard and Ann True Foundation Inc give each year?
Willard and Ann True Foundation Inc gave $58K across 4 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $50K across 3 grants.
What is Willard and Ann True Foundation Inc's typical grant size?
Willard and Ann True Foundation Inc's median grant in 2025 was $13,768, and its average grant was $14,384, across 4 grants on its 2025 IRS Form 990-PF.
Where does Willard and Ann True Foundation Inc give grants?
Willard and Ann True Foundation Inc's top state is Florida, with 35% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were Georgia (30%) and North Carolina (17%).
Does Willard and Ann True Foundation Inc give general operating support?
Not in 2025: none of the 4 grants with a stated purpose on Willard and Ann True Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support.
How large is Willard and Ann True Foundation Inc?
Willard and Ann True Foundation Inc reported $1.2M in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $156K.
What is Willard and Ann True Foundation Inc?
Willard and Ann True Foundation Inc is a private foundation focused on Education, based in Belleair Bluffs, FL. It holds $1.2M in total assets as of 2025.
How much is Willard and Ann True Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Willard and Ann True Foundation Inc reported a distributable amount of $55K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Willard and Ann True Foundation Inc's EIN?
Willard and Ann True Foundation Inc's EIN (Employer Identification Number) is 46-3746282. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 14, 2024)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS April 17, 2025)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS April 30, 2025)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 13, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 5, 2026)
- IRS filings on file for fiscal years 2021–2024
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