Burridge D Butler Memorial Tr Of Chicago
- Assets
- $41.5m
- Revenue
- $2.0m
- Investments
- $11.5m
- Employees
- 0
- Location
- Cary, IL
- Founding
- 11/1980
- Data as of
- 09/2023
- EIN
- 36-6065694
Organization Overview
Burridge D Butler Memorial Tr Of Chicago is located in Cary, IL. The organization was established in 1980. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Burridge D Butler Memorial Tr Of Chicago is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Burridge D Butler Memorial Tr Of Chicago generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $2.7m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE BURRIDGE D. BUTLER MEMORIAL TRUST OF CHICAGO IS A TAX-EXEMPT TRUST CREATED IN (SEE SCHEDULE O) 1951 UNDER THE LAST WILL AND TESTAMENT OF BURRIDGE D. BUTLER. THE TRUST IS DEVOTED TO CHARITABLE AND EDUCATIONAL PURPOSES AND IS A TYPE III NON-FUNCTIONALLY INTERGRATED SUPPORTING ORGANIZATION TO THE CHICAGO COMMUNITY TRUST. THE TRUST IS A TOTAL RETURN TRUST. THE DISTRIBUTIONS TO THE CHICAGO COMMUNITY TRUST ARE COMPUTED IN AN AMOUNT EQUAL TO FIVE PERCENT ON A MOVING THREE YEAR AVERAGE OF THE NET FAIR MARKET VALUE OF THE TRUST'S ASSETS FOR EACH OF THE THREE YEARS PRECEDING THE YEAR OF THE CURRENT YEAR DISTRIBUTION BASED ON A FISCAL YEAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PER THE WILL OF BURRIDGE D. BUTLER AND IN ACCORDANCE WITH THE SIGNED MEMORANDUM AND AGREEMENT BY THE TRUSTEES TO CONVERT TO A TOTAL RETURN TRUST EFFECTIVE DECEMBER 7, 2018, DISTRIBUTED FUNDS TO THE CHICAGO COMMUNITY TRUST FOR THEM TO DISTRIBUTE IN ACCORDANCE WITH THE PROVISIONS OF MR. BUTLER'S WILL FOR CHARITABLE AND EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey E Kintzler Chairman | OfficerTrustee | 2 | $38,350 |
Carl Albrecht Secretary | OfficerTrustee | 2 | $33,800 |
Richard C Johnson Trustee | Trustee | 2 | $26,000 |
Mark Cook Trustee | Trustee | 2 | $26,000 |
Patricia Michael Trustee | Trustee | 2 | $26,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $1,422,364 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $585,559 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,007,923 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,191,174 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $126,540 |
| Compensation of current officers, directors, key employees. | $126,540 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,994 |
| Fees for services: Accounting | $44,153 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $275,097 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $8,418 |
| Total functional expenses | $2,655,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,899,982 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $28,119,320 |
| Investments—other securities | $11,460,900 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,480,202 |
| Accounts payable and accrued expenses | $135,857 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $135,857 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $41,344,345 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $41,480,202 |