Lavern T Busse & Audrey Busse Foundation
- Assets
- $13.8m
- Revenue
- $1.6m
- Investments
- $13.6m
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 05/1991
- Data as of
- 12/2020
- EIN
- 75-2342746
Organization Overview
Lavern T Busse & Audrey Busse Foundation is located in Cedar Rapids, IA. The organization was established in 1991. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Lavern T Busse & Audrey Busse Foundation 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 12/2020, Lavern T Busse & Audrey Busse Foundation generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $753.1k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lavern T Busse & Audrey Busse Foundation has awarded 288 individual grants totaling $5,453,323. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Audrey Busse Treasurer/trustee | 2 | $0 | |
Jeffrey Busse Executive Director/secretary/trustee | 9 | $0 | |
Monica Busse Vice President/trustee | 1 | $0 | |
Grace Busse Asst Treasurer/trustee | 1 | $0 | |
Anna Busse Asst Secretary/trustee | 1 | $0 | |
Michele Busse Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,220,479 |
| Interest on Savings | $1,635 |
| Dividends & Interest | $389,205 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $31,511 |
| Capital Gain Net Income | $31,511 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $82 |
| Total Revenue | $1,642,912 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $41,766 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,255 |
| Printing and publications | $0 |
| Other expenses | $19 |
| Total operating and administrative expenses | $47,600 |
| Contributions, gifts, grants paid | $705,500 |
| Total expenses and disbursements | $753,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,961 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $13,750,868 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $28,834 |
| Total liabilities | $28,834 |
Grants Awarded
Over the last fiscal year, Lavern T Busse & Audrey Busse Foundation has awarded $1,058,500 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
Cedar Rapids, IA PURPOSE: GENERAL OPERATING BUDGET | $258,000 |
UNIVERSITY OF IOWA CENTER FOR ADVANCEMENT PURPOSE: GENERAL OPERATING BUDGET | $100,000 |
Cedar Rapids, IA PURPOSE: GENERAL OPERATING BUDGET | $75,000 |
LA CASA DE CRISTO CHURCH PURPOSE: GENERAL OPERATING BUDGET | $50,000 |
Cedar Rapids, IA PURPOSE: GENERAL OPERATING BUDGET | $50,000 |
Cedar Rapids, IA PURPOSE: GENERAL OPERATING BUDGET | $43,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
Walter Scott Family Foundation Omaha, NE | $596,551,475 | $88,689,053 |
Fulk Family Foundation Inc Chicago, IL | $111,507,856 | $5,187,231 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
Grainger Foundation Inc Lake Forest, IL | $184,158,239 | $17,016,007 |
Crawford Taylor Foundation St Louis, MO | $738,101,888 | $69,635,068 |
Zell Family Foundation Chicago, IL | $0 | $76,843,080 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Enterprise Holdings Foundation Saint Louis, MO | $398,583,830 | $68,157,541 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Hall Family Foundation Kansas City, MO | $1,171,646,854 | $87,869,006 |