Nonprofit · EIN 35-1320021
LIBERTY FUND INC
Tax-exempt · CARMEL, IN 46032
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| April 30, 2026 | 990-PF | $29,743,198 | $20,258,067 | $9,485,131 | $405,386,533 | $18,611,154 | $386,775,379 |
| April 30, 2025 | 990-PF | $56,857,773 | $18,302,443 | $38,555,330 | $396,557,289 | $19,267,041 | $377,290,248 |
| April 30, 2024 | 990-PF | $22,422,647 | $19,737,647 | $2,685,000 | $358,645,767 | $19,910,849 | $338,734,918 |
| April 30, 2022 | 990-PF | $40,425,131 | $17,957,559 | $22,467,572 | $362,873,085 | $21,146,366 | $341,726,719 |
Financial details: 990-PF for the year ended April 30, 2026
Revenue
- Contributions, gifts and grants
- $387,455
- Dividends
- $12,095,037
- Interest
- $8,972
- Net gain from sales of assets
- $16,538,372
- Other income
- $713,362
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $3,139,837
- Salaries, compensation and benefits (total)
- $3,873,352
- Disbursements for charitable purposes
- $18,638,428
Balance sheet and other
- Total assets, start of year
- $396,557,289
- Total assets, end of year
- $405,386,533
- Total liabilities, end of year
- $18,611,154
- Net assets, end of year
- $386,775,379
- Fair market value of assets
- $565,119,899
- Qualifying distributions
- $18,693,076
- Net investment income
- $28,642,381
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended April 30, 2026, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SEAN R SHELBY 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR, PRESIDENT & CEO | 40 | $654,929 | $72,049 |
| EMILIO J PACHECO 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR; SVP & PIERRE F GOODRICH RESIDENT SCHOLAR | 40 | $354,000 | $80,470 |
| GEORGE K STUART 11301 N MERIDIAN ST, CARMEL, IN 46032 | VP & CTO | 40 | $337,000 | $92,686 |
| BRIAN J PAWLOWSKI 11301 N MERIDIAN ST, CARMEL, IN 46032 | VP & COO | 40 | $259,827 | $73,412 |
| JULIE K SHEWMAKER 11301 N MERIDIAN ST, CARMEL, IN 46032 | CONTROLLER | 40 | $224,252 | $73,850 |
| JEFFREY A CILLEY 11301 N MERIDIAN ST, CARMEL, IN 46032 | SENIOR ENGINEER Highest-paid employee | 40 | $217,500 | $60,274 |
| MITCHELL E DANIELS JR 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR AND CONSULTANT | 13.5 | $181,992 | $268 |
| CAROL L HOMMEL 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIR. OF CONFERENCES Highest-paid employee | 40 | $180,033 | $61,270 |
| HANS L EICHOLZ 11301 N MERIDIAN ST, CARMEL, IN 46032 | SENIOR FELLOW Highest-paid employee | 40 | $174,200 | $60,088 |
| GEORGE P LYNCH 11301 N MERIDIAN ST, CARMEL, IN 46032 | SENIOR FELLOW Highest-paid employee | 40 | $173,033 | $65,116 |
| DOUGLAS J DEN UYL 11301 N MERIDIAN ST, CARMEL, IN 46032 | VP EMERITUS&SCHOLAR Highest-paid employee | 40 | $169,000 | $48,438 |
| SANDRA J SCHALLER 11301 N MERIDIAN ST, CARMEL, IN 46032 | SECRETARY-TREASURER | 21 | $136,581 | $53,119 |
| STEPHANIE L KAUFMAN 11301 N MERIDIAN ST, CARMEL, IN 46032 | ASST SECY, SPECIAL PROJECTS AND OFFICE MGR | 40 | $110,780 | $15,050 |
| NATHAN J FELTMAN 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR, CHAIRMAN | 10 | $90,000 | $268 |
| BEN A RAST 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR | 3 | $51,000 | $268 |
5 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DANE STARBUCK 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR | 3 | $51,000 | $268 |
| G MARCUS COLE 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR | 3 | $51,000 | $268 |
| LUIS H BALL 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR | 3 | $51,000 | $268 |
| MARY A O'GRADY 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR | 3 | $51,000 | $268 |
| TERRY W ANKER 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIRECTOR | 3 | $51,000 | $268 |
990-PF for the year ended April 30, 2025: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SEAN R SHELBY 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR, PRESIDENT & CEO | 40 | $543,034 | $70,164 |
| GEORGE K STUART 11301 N Meridian St, Carmel, IN 46032 | VP & CTO | 40 | $322,900 | $89,497 |
| EMILIO J PACHECO 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR; SVP & PIERRE F GOODRICH RESIDENT SCHOLAR | 40 | $304,194 | $66,034 |
| SANDRA J SCHALLER 11301 N Meridian St, Carmel, IN 46032 | Secretary-Treasurer | 40 | $242,227 | $64,486 |
| BRIAN J PAWLOWSKI 11301 N Meridian St, Carmel, IN 46032 | VP & COO | 40 | $230,000 | $69,292 |
| Jeffrey A Cilley 11301 N Meridian St, carmel, IN 46032 | Senior Engineer Highest-paid employee | 40 | $195,730 | $52,669 |
| Mitchell E Daniels JR (START 011325) 11302 N Meridian St, Carmel, IN 46033 | Director and Consultant | 13.5 | $193,057 | $64 |
| Douglas J Den Uyl 11301 N Meridian St, Carmel, IN 46032 | VP Emeritus Highest-paid employee | 40 | $184,000 | $49,902 |
| Carol L Hommel 11301 N Meridian St, Carmel, IN 46032 | Director Highest-paid employee | 40 | $168,750 | $51,178 |
| Amy M Willis 11301 N Meridian St, Carmel, IN 46032 | Director Highest-paid employee | 40 | $165,000 | $62,827 |
| Hans L Eicholz 11301 N Meridian St, Carmel, IN 46032 | Senior Fellow Highest-paid employee | 40 | $162,912 | $50,131 |
| STEPHANIE L KAUFMAN 11301 N Meridian St, Carmel, IN 46032 | ASST SECY, SPECIAL PROJECTS AND OFFICE MGR | 40 | $105,781 | $14,603 |
| Nathan J Feltman 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR, CHAIRMAN | 10 | $90,000 | $231 |
| BEN A RAST 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $51,000 | $231 |
| DANE STARBUCK 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $51,000 | $231 |
| G Marcus Cole 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $51,000 | $231 |
| Luis H Ball 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $51,000 | $231 |
| Mary A O'Grady 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $51,000 | $231 |
| TERRY W ANKER 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $51,000 | $231 |
| Julie K Shewmaker (START 22425) 11303 N Meridian St, Carmel, IN 46032 | Controller | 40 | $45,897 | $17,470 |
990-PF for the year ended April 30, 2024: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SEAN R SHELBY 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR, PRESIDENT & CEO | 40 | $436,465 | $66,672 |
| JAMES F COTE 11301 N Meridian St, Carmel, IN 46032 | FORMER IS DIRECTOR Highest-paid employee | 40 | $312,730 | $45,690 |
| EMILIO J PACHECO 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR; SVP & PIERRE F GOODRICH RESIDENT SCHOLAR | 40 | $287,000 | $59,150 |
| GEORGE K STUART 11301 N Meridian St, Carmel, IN 46032 | VP & CTO | 40 | $242,852 | $58,740 |
| SANDRA J SCHALLER 11301 N Meridian St, Carmel, IN 46032 | VP & CONTROLLER, SECRETARY-TREASURER | 40 | $234,206 | $61,394 |
| LAURIE L GOETZ 11301 N Meridian St, Carmel, IN 46032 | FORMER SR EDITOR Highest-paid employee | 40 | $217,895 | $13,716 |
| BRIAN J PAWLOWSKI 11301 N Meridian St, Carmel, IN 46032 | VP & COO | 40 | $217,160 | $65,148 |
| STEVEN D EALY 11301 N Meridian St, Carmel, IN 46032 | FORMER SR EMERITUS Highest-paid employee | 40 | $198,576 | $23,816 |
| DOUGLAS J DEN UYL 11301 N Meridian St, Carmel, IN 46032 | VP EMERITUS Highest-paid employee | 40 | $189,000 | $48,958 |
| HANS L EICHOLZ 11301 N Meridian St, Carmel, IN 46032 | SENIOR FELLOW Highest-paid employee | 40 | $164,711 | $30,501 |
| STEPHANIE L KAUFMAN 11301 N Meridian St, Carmel, IN 46032 | ASST SECY, SPECIAL PROJ & OFFICE MGR | 40 | $103,174 | $14,518 |
| Nathan J Feltman 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR, CHAIRMAN | 10 | $91,500 | $394 |
| TERRY W ANKER 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $52,500 | $394 |
| Mary A O'Grady 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $52,500 | $394 |
| BEN A RAST 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $52,500 | $394 |
| DANE STARBUCK 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $52,500 | $394 |
| G Marcus Cole 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $51,000 | $394 |
| Luis H Ball 11301 N Meridian St, Carmel, IN 46032 | DIRECTOR | 3 | $50,250 | $394 |
990-PF for the year ended April 30, 2022: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SEAN R SHELBY 11301 N Meridian Street, Carmel, IN 46032 | PRESIDENT & CEO | 40 | $406,400 | $71,213 |
| EMILIO J PACHECO 11301 N Meridian Street, Carmel, IN 46032 | DIRECTOR/SVP & PFG RES SCHOLAR | 40 | $284,600 | $56,957 |
| SANDRA J SCHALLER 11301 N Meridian Street, Carmel, IN 46032 | VP & CONTROLLER, SEC-TREASURER | 40 | $229,317 | $59,465 |
| DOUGLAS J DEN UYL 11301 N MERIDIAN ST, CARMEL, IN 46032 | VP EMERITUS & ROGGE Highest-paid employee | 40 | $197,417 | $54,648 |
| JAMES F COTE 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIR OF INFO SYS Highest-paid employee | 40 | $192,000 | $53,348 |
| CAROL L HOMMEL 11301 N MERIDIAN ST, CARMEL, IN 46032 | DIR OF CONFERENCES Highest-paid employee | 40 | $154,379 | $55,425 |
| HANS L EICHOLZ 11301 N MERIDIAN ST, CARMEL, IN 46032 | SENIOR FELLOW Highest-paid employee | 40 | $153,200 | $54,195 |
| JENNIFER K THOMPSON 1130, CARMEL, IN 46032 | DIRECTOR OF CIVIL SQ Highest-paid employee | 40 | $150,122 | $49,159 |
| STEPHANIE L KAUFMAN 11301 N Meridian Street, Carmel, IN 46032 | ASST SEC, EXEC ASST,Office MGR | 40 | $102,163 | $14,323 |
| NATHAN FELTMAN 11301 N Meridian Street, Carmel, IN 46032 | DIRECTOR, CHAIRMAN | 10 | $86,917 | $366 |
| DANE STARBUCK 11301 N Meridian Street, CARMEL, IN 46032 | DIRECTOR | 3 | $77,600 | $366 |
| TERRY W ANKER 11301 N Meridian Street, Carmel, IN 46032 | DIRECTOR | 3 | $50,000 | $366 |
| LUIS H BALL 11301 N Meridian Street, Carmel, IN 46032 | DIRECTOR | 3 | $50,000 | $366 |
| MARY A O'GRADY 11301 N Meridian Street, Carmel, IN 46032 | DIRECTOR | 3 | $50,000 | $366 |
| BEN A RAST 11301 N Meridian Street, Carmel, IN 46032 | DIRECTOR | 3 | $50,000 | $366 |
| T ALAN RUSSELL 11301 N Meridian Street, Carmel, IN 46032 | DIRECTOR EMERITUS(THRU 9/2021) | 3 | $17,000 | $0 |
Address and contacts
- Address (IRS master file)
- 11301 N MERIDIAN ST, CARMEL, IN 46032-4564
- In care of
- % SANDRA J SCHALLER
- Signed the 990-PF
- JULIE SHEWMAKER, CONTROLLER
- Phone
- (317) 842-0880
- Website
- WWW.LIBERTYFUND.ORG
- Return prepared by
- FORVIS MAZARS LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in April, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | April 30, 2026 | September 15, 2026 | 990-PF on file |
| 2024 | April 30, 2025 | September 15, 2025 | 990-PF on file |
| 2023 | April 30, 2024 | September 16, 2024 | 990-PF on file |
IRS record
- EIN
- 35-1320021
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private operating foundation (exempt from paying excise taxes)
- Donations deductible (Pub 78)
- Private operating foundation, 50% limit
- Exempt since
- 1962
- Accounting year ends
- April
- Files
- Form 990-PF
- Assets (IRS master file)
- $405,386,533
- Income (IRS master file)
- $34,236,473
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | April 2026 | $29,743,198 | $20,258,067 | $405,386,533 | XML |
| 990-T | April 2026 | – | – | – | IRS |
| 990-PF | April 2025 | $56,857,773 | $18,302,443 | $396,557,289 | XML |
| 990-T | April 2025 | – | – | – | IRS |
| 990-PF | April 2024 | $22,422,647 | $19,737,647 | $358,645,767 | XML |
| 990-T | April 2024 | – | – | – | IRS |
| 990-PF | April 2023 | – | – | – | IRS |
| 990-T | April 2023 | – | – | – | IRS |
| 990-PF | April 2022 | $40,425,131 | $17,957,559 | $362,873,085 | XML |
| 990-T | April 2022 | – | – | – | IRS |
| 990-PF | April 2021 | – | – | – | IRS |
| 990-T | April 2021 | – | – | – | IRS |
| 990-PF | April 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 35-1320021).
Questions about LIBERTY FUND INC
- What is the EIN of LIBERTY FUND INC?
- The employer identification number (EIN) of LIBERTY FUND INC is 35-1320021.
- Is LIBERTY FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1962.
- Are donations to LIBERTY FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private operating foundation, 50% limit).
- Which annual return does LIBERTY FUND INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of LIBERTY FUND INC due?
- The return for tax year 2026 (the year ending April 30, 2027) is due September 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LIBERTY FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended April 2026.
- Who are the officers and directors of LIBERTY FUND INC?
- The 990-PF for the year ended April 30, 2026 lists 20 people; 20 received compensation from the organization, the highest $654,929 (SEAN R SHELBY, DIRECTOR, PRESIDENT & CEO).
- How much revenue does LIBERTY FUND INC have?
- On its 990-PF for the year ended April 30, 2026 it reported revenue of $29,743,198, expenses of $20,258,067 and total assets of $405,386,533 at year end.
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