Nonprofit · EIN 86-6589915
W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST
Also known as IOWA STATE SAVINGS BANK TTEE
Tax-exempt · CRESTON, IA 50801
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-PF | $196,316 | $399,688 | -$203,372 | $5,412,496 | $0 | $5,412,496 |
| December 31, 2024 | 990-PF | $182,803 | $373,507 | -$190,704 | $5,632,898 | $0 | $5,632,898 |
Financial details: 990-PF for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $41,829
- Dividends
- $107,357
- Interest
- $47,130
Expenses
- Grants and similar amounts paid
- $313,000
- Compensation of officers, directors and key employees
- $75,000
- Disbursements for charitable purposes
- $358,000
- Excise tax on investment income
- $1,484
Balance sheet and other
- Total assets, start of year
- $5,632,898
- Total assets, end of year
- $5,412,496
- Total liabilities, end of year
- $0
- Net assets, end of year
- $5,412,496
- Fair market value of assets
- $6,752,412
- Qualifying distributions
- $358,000
- Net investment income
- $146,831
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 December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Iowa State Savings Bank 401 West Adams Street, Creston, IA 50801 | Trustee | 3 | $75,000 |
990-PF for the year ended December 31, 2024: 1 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Iowa State Savings Bank 401 West Adams Street, Creston, IA 50801 | Trustee | 3 | $75,000 |
Address and contacts
- Address (IRS master file)
- PO BOX 109, CRESTON, IA 50801-0109
- Signed the 990-PF
- Kim Baker, Trustee
- Phone
- (641) 782-1000
- Return prepared by
- Dickinson Bradshaw Fowler & Hagen PC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-PF on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | Check at the IRS |
IRS record
- EIN
- 86-6589915
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private operating foundation
- Donations deductible (Pub 78)
- Private operating foundation, 50% limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $5,412,496
- Income (IRS master file)
- $446,316
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2025 | $196,316 | $399,688 | $5,412,496 | IRS |
| 990-PF | December 2024 | $182,803 | $373,507 | $5,632,898 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | 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 86-6589915).
Questions about W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST
- What is the EIN of W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST?
- The employer identification number (EIN) of W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST is 86-6589915.
- Is W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private operating foundation, 50% limit).
- Which annual return does W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST file?
- Form 990-PF. Private foundations file every year.
- When is the next return of W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2025.
- Who are the officers and directors of W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST?
- The 990-PF for the year ended December 31, 2025 lists 1 person; 1 received compensation from the organization, the highest $75,000 (Iowa State Savings Bank, Trustee).
- How much revenue does W D & SHIRLEY SCHAFER-RAY EDUCATIONAL TRUST have?
- On its 990-PF for the year ended December 31, 2025 it reported revenue of $196,316, expenses of $399,688 and total assets of $5,412,496 at year end.
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