Midwestone Bank Foundation
The MidWestOne Bank Foundation is a philanthropic organization based in Iowa City, Iowa, established in 2001. It operates as a private, non-operating foundation dedicated to supporting nonprofit organizations across multiple states through grant funding and community investment initiatives.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$3.9M
+1.3% YoY
Annual Giving
$206K
-14.1% YoY
Grant Count
47
-19.0% YoY
Avg Grant Size
$4K
+6.0% YoY
Mission & Focus Areas
The foundation is driven by the belief that strong communities are built through sustained, intentional investment. Its primary funding areas include:
- Arts and culture
- Community development
- Community services
- Education
- Human services
- Youth programs
Grantmaking
The foundation receives applications from nonprofit organizations and makes contributions to preselected charitable organizations. According to foundation leadership, the foundation receives an unusually high volume of applications relative to available funding.
Review Cycle
have distributed significant funding: $207,000 to 14 organizations across four states, and $279,050 to 25 nonprofit organizations in its final grant round
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation operates primarily in:
- Colorado
- Florida
- Iowa
- Minnesota
- Wisconsin
Recent grant recipients have been located across Iowa, Colorado, Minnesota, and Wisconsin, with significant activity in communities including Iowa City, Waterloo, Dubuque, Des Moines, and Minneapolis.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
- Total Assets: $3.8–$3.9 million
- Annual Revenue: $209,420 (most recent fiscal year)
- Annual Expenses: $243,613 (most recent fiscal year)
- Annual Income: $1.2 million (reported)
- IRS Ruling Year: 2002
- Tax Status: 501(c)(3) exempt organization
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $3,882,963 | $3,831,985 | $3,867,410 |
| Revenue | $260,690 | $209,420 | $401,897 |
| Expenses | $210,179 | $243,613 | $239,542 |
| Qualifying Distributions | $208,255 | $241,908 | $228,067 |
| Net Investment Income | $155,170 | $139,404 | $125,299 |
| Distributable Amount | $221,576 | $201,697 | $198,660 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
244 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Charles N. Funk — Chairman and President
- Chip Reeves — Vice President
- Matt Walter — Secretary/Treasurer
- Robert Ross — Principal Officer
The leadership team serves without compensation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CHARLES N FUNK | PRESIDENT | 1 | — |
| CHIP REEVES | VICE PRESIDENT | 1 | — |
| MATT WALTER | SECRETARY/TREASURER | 1 | — |
| LARRY D ALBERT | DIRECTOR | 1 | — |
| LEN DEVAISHER | DIRECTOR | 1 | — |
| KEVIN MONSON | DIRECTOR | 1 | — |
| RUTH E STANOCH | DIRECTOR | 1 | — |
| ELDA MACIAS | DIRECTOR | 1 | — |
Recent News & Activity
Recent developments and announcements
The MidWestOne Bank Foundation announced its final grant round in February 2026, allocating up to $279,050 to 25 nonprofit organizations. This marked the foundation's largest grant distribution to date and its final grant cycle before sunsetting following the merger of MidWestOne Financial Group Inc. and Nicolet Bankshares Inc., which closed in February 2026.
MidWestOne Bank Foundation announces final grant round ahead of merger\_\Recent grant recipients have included organizations such as Iowa Heartland Habitat for Humanity, Our Neighbor's Place, Grant Regional Health Center, West Liberty Library, North Liberty Community Pantry, Knepper Child Care Center, Hills and Dales, and numerous other community-focused nonprofits across its service regions.
MidWestOne Bank Foundation announces final grant round ahead of merger\_\Subject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
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Barbara Jean Couturier Charitable T
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The Joseph Andres Family Foundation
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Vande Brake Family Foundation
ORANGE CITY, IA
Assets
$172K
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6
Total Given
$47K
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Midwestone Bank Foundation on Grantable?
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