The foundation closed its 77-year-old museum in Fort Wayne last month and decided to give away the 20 million dollar collection, citing poor attendance.
A group from Washington, D.C., also submitted a proposal.
The foundation says it's informing the finalists and will make a final decision late this year or early next year.
The collection of artifacts and documents on the 16th president includes a copy of the Emancipation Proclamation.
