Liberty Fund Inc
EIN 351320021 Private FoundationTotal Given 2017–2024
$2.1M
14 grants · $268K avg/year
based on 8 yrs of IRS 990-PF records on file
$100K+/yr
local funder
capacity
$11K
typical small grants · $10K–$18K
grant size
18%
balanced · 2/11 multi-year
repeat
$482.2M
Assets (2025)
11
Distinct Recipients
Focus Areas
Application Information
Accepts Unsolicited Proposals
No. Preselected Only
Phone
(317) 842-0880
Financial Trends
Giving Over Time
Total Assets Over Time
View financial data as table
| Year | Total Giving | Total Assets | Revenue | Grants |
|---|---|---|---|---|
| 2017 | $1.0M | $361.0M | $49.5M | 2 |
| 2018 | $30K | $376.4M | $11.6M | 2 |
| 2019 | $1.0M | $378.1M | $19.6M | 2 |
| 2020 | N/A | $364.0M | $15.7M | N/A |
| 2021 | $6K | $469.0M | $28.1M | 1 |
| 2023 | $42K | $405.7M | $12.9M | 3 |
| 2024 | $42K | $428.9M | $22.4M | 4 |
| 2025 | N/A | $482.2M | $56.9M | N/A |
Grant Size Distribution
Based on 14 grants on record
Minimum
$5K
25th Pctl
$10K
Median
$11K
Average
$153K
75th Pctl
$18K
Maximum
$1.0M
Geographic Distribution
Texas Counties Served
16.7% of US grants
· Rank #3 of 5 states
$16K across
2 grants
1 of 254 counties
Top 1 counties
- 1 Lubbock
Officers & Directors
GS
George K. Stuart
2 yrs
Vice President & CTO
Leadership
BP
Brian J. Pawlowski
3 yrs
Vice President & COO
Leadership
NF
Nathan J. Feltman
2 yrs
Director, Chairman
Leadership
SS
SEAN R. Shelby
3 yrs
Director, President & CEO
Leadership
EP
Emilio J. Pacheco
8+ yrs
Director; SVP & Pierre F. Goodrich Resident Scholar
SS
Sandra J. Schaller
8+ yrs
Secretary-Treasurer
Leadership
SK
Stephanie L. Kaufman
7 yrs
Assistant Secretary, Special Projects and Office MGR
Leadership
M0
Mitchell E. Daniels JR (START 011325)
Director and Consultant
TA
Terry W. Anker
8+ yrs
Director
MO
Mary A O'Grady
8+ yrs
Director
LB
Luis H. Ball
8+ yrs
Director
GC
G Marcus Cole
2 yrs
Director
DS
DANE Starbuck
8+ yrs
Director
BR
Ben A. RAST
8+ yrs
Director
J2
Julie K. Shewmaker (START 22425)
Controller
SS
Sandra J. Schaller
8+ yrs
Vice President & Controller, Secretary-Treasurer
Leadership
GS
George K. Stuart
2 yrs
Vice President & CTO
Leadership
SS
SEAN R. Shelby
3 yrs
Director, President & CEO
Leadership
BP
Brian J. Pawlowski
3 yrs
Vice President & COO
Leadership
NF
Nathan J. Feltman
2 yrs
Director, Chairman
Leadership
EP
Emilio J. Pacheco
8+ yrs
Director; SVP & Pierre F. Goodrich Resident Scholar
SK
Stephanie L. Kaufman
7 yrs
Assistant Secretary, Special PROJ & Office MGR
Leadership
DS
DANE Starbuck
8+ yrs
Director
BR
Ben A. RAST
8+ yrs
Director
MO
Mary A O'Grady
8+ yrs
Director
GC
G Marcus Cole
2 yrs
Director
LB
Luis H. Ball
8+ yrs
Director
TA
Terry W. Anker
8+ yrs
Director
SS
SEAN R. Shelby
3 yrs
Director, President & CEO
Leadership
SS
Sandra J. Schaller
8+ yrs
Vice President & Controller, Sec-Treasurer
Leadership
NF
Nathan Feltman
6 yrs
Director, Chairman
Leadership
BP
Brian J. Pawlowski
3 yrs
Vice President & COO
Leadership
EP
Emilio J. Pacheco
8+ yrs
Director/Svp & PFG RES Scholar
DS
DANE Starbuck
8+ yrs
Director
BR
Ben A. RAST
8+ yrs
Director
MO
Mary a O'Grady
8+ yrs
Director
LB
Luis H. Ball
8+ yrs
Director
TA
Terry W. Anker
8+ yrs
Director
SK
Stephanie L. Kaufman
7 yrs
Assistant Sec,Spec Proj,Office MGR
S0
SEAN R. Shelby Started 082020
President & CEO
Leadership
SS
Sandra J. Schaller
8+ yrs
Vice President & Controller, Sec-Treasurer
Leadership
DU
Douglas J. DEN UYL
5 yrs
Vice President of Educational Programs
Leadership
NF
Nathan Feltman
6 yrs
Director, Chairman
Leadership
EP
Emilio J. Pacheco
8+ yrs
Director/Svp & PFG RES Scholar
MO
Mary a O'Grady
8+ yrs
Director
BR
Ben A. RAST
8+ yrs
Director
DS
DANE Starbuck
8+ yrs
Director
TA
Terry W. Anker
8+ yrs
Director
TR
T Alan Russell
5 yrs
Director Emeritus
LB
Luis H. Ball
8+ yrs
Director
R0
Richard W. Duesenberg THRU 092020
Director Emeritus
SK
Stephanie L. Kaufman
7 yrs
Assistant SEC, EXEC Assistant,Office MGR
SK
Stephanie L. Kaufman
7 yrs
Assistant Secretary/Assistant to President
Leadership
DU
Douglas J. DEN UYL
5 yrs
Vice President of Educational Programs
Leadership
NF
Nathan Feltman
6 yrs
Director, Chairman
Leadership
EP
Emilio J. Pacheco
8+ yrs
Director, President, & CEO
Leadership
SS
Sandra J. Schaller
8+ yrs
Vice President & Controller, Sec-Treasurer
Leadership
TA
Terry W. Anker
8+ yrs
Director
LB
Luis H. Ball
8+ yrs
Director
RD
Richard W. Duesenberg
4 yrs
Director Emeritus
MO
Mary a O'Grady
8+ yrs
Director
BR
Ben A. RAST
8+ yrs
Director
TR
T Alan Russell
5 yrs
Director Emeritus
DS
DANE Starbuck
8+ yrs
Director
SK
Stephanie L. Kaufman
7 yrs
Assistant Secretary/Assistant to President
Leadership
EP
Emilio J. Pacheco
8+ yrs
Director, President, & CEO
Leadership
NF
Nathan Feltman
6 yrs
Director, Chairman
Leadership
DU
Douglas J. DEN UYL
5 yrs
Vice President of Educational Programs
Leadership
SS
Sandra J. Schaller
8+ yrs
Vice President & Controller, Sec-Treasurer
Leadership
DS
DANE Starbuck
8+ yrs
Director
TR
T Alan Russell
5 yrs
Director Emeritus
BR
Ben A. RAST
8+ yrs
Director
MO
Mary a O'Grady
8+ yrs
Director
RD
Richard W. Duesenberg
4 yrs
Director Emeritus
LB
Luis H. Ball
8+ yrs
Director
TA
Terry W. Anker
8+ yrs
Director
DU
Douglas J. DEN UYL
5 yrs
Vice President of Educational Programs
Leadership
SK
Stephanie L. Kaufman
7 yrs
Assistant Secretary/Assistant to President
Leadership
DS
DANE Starbuck
8+ yrs
DIR. & Co-Chairman
Leadership
SS
Sandra J. Schaller
8+ yrs
Vice President & Controller, Sec-Treasurer
Leadership
BR
Ben A. RAST
8+ yrs
DIR. & Co-Chairman
Leadership
EP
Emilio J. Pacheco
8+ yrs
Director, President, & CEO
Leadership
PG
Patricia A. Gallagher
2 yrs
Vice President of Publishing
Leadership
NF
Nathan Feltman
6 yrs
Director, Chairman
Leadership
RD
Richard W. Duesenberg
4 yrs
Director Emeritus
RD
Roseda D. Decker
2 yrs
Director Emeritus
TR
T Alan Russell
5 yrs
Director Emeritus
MO
Mary a O'Grady
8+ yrs
Director
JJ
Joseph F. Johnston
2 yrs
Director
LB
Luis H. Ball
8+ yrs
Director
TA
Terry W. Anker
8+ yrs
Director
JS
Joanne W. Shepler
2 yrs
Assistant Sec/Hr MGR
DS
DANE Starbuck
8+ yrs
Director & Co-Chairman
Leadership
SS
Sandra J. Schaller
8+ yrs
Vice President & Controller, Sec-Treasurer
Leadership
BR
Ben A. RAST
8+ yrs
Director & Co-Chairman
Leadership
EP
Emilio J. Pacheco
8+ yrs
Director, President, & CEO
Leadership
PG
Patricia A. Gallagher
2 yrs
Vice President of Publishing
Leadership
DU
Douglas J. DEN UYL
5 yrs
Vice President of Educational Programs
Leadership
RD
Richard W. Duesenberg
4 yrs
Director
LB
Luis H. Ball
8+ yrs
Director
TA
Terry W. Anker
8+ yrs
Director
RD
Roseda D. Decker
2 yrs
Director Emeritus
TR
T Alan Russell
5 yrs
Director Emeritus
MO
Mary a O'Grady
8+ yrs
Director
JJ
Joseph F. Johnston
2 yrs
Director
NF
Nathan Feltman
6 yrs
Director
JS
Joanne W. Shepler
2 yrs
Assistant SEC, Admin SVCS & HR MGR
Grants Awarded (14 total)
| Purpose | ||||
|---|---|---|---|---|
| Center for the Study of Liberty | Carmel, IN | $1,000,000 | GENERAL SUPPORT | 2019 |
| Center for the Study of Liberty | Carmel, IN | $1,000,000 | GENERAL SUPPORT | 2017 |
| NOUS EV | Frieburg, None | $20,000 | "ADAM SMITH @ 300" SPONSORSHIP | 2023 |
| Community Foundation of Randolph County | Winchester, IN | $20,000 | Bicentennial Plaza Project Randolph Co. | 2018 |
| The Tikvah Fund | New York, NY | $14,000 | HEBREW TRANSLATION AND PUBLICATION OF SCHUMPETER'S "CAPITALISM, SOCIALISM, AND DEMOCRACY" | 2024 |
| The Remnant Trust | Cambridge City, IN | $12,500 | DONATION OF ARTWORK | 2023 |
| Economic Freedom Foundation | Konopiska, None | $12,500 | POLISH TRANSLATION OF "THE FEDERALISTS" | 2024 |
| Association of Private Enterprise Education | Chattanooga, TN | $10,000 | SPONSOR POSTER COMPETITION & RECEPTION | 2019 |
| America's Future Foundation dba Talent Market LLC | Washington, DC | $10,000 | General Support | 2023 |
| Association of Private Enterprise Education | Lubbock, TX | $10,000 | SPONSOR UNDERGRADUATE RESEARCH COMPETITION | 2024 |
| Association of Private Enterprise Education | Chattanooga, TN | $10,000 | SPONSOR POSTER COMPETITION & RECEPTION | 2017 |
| Association of Private Enterprise Education | Chattanooga, TN | $10,000 | SPONSOR POSTER COMPETITION & RECEPTION | 2018 |
| Association of Private Enterprise Education | Lubbock, TX | $6,500 | UNDERGRADUATE RESEARCH COMPETITION | 2021 |
| Americas Future Foundation DBA Talent Market Llc | Washington, DC | $5,000 | GENERAL | 2024 |
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