Lavern T Busse & Audrey Busse Foundation
- Assets
- $14.7m
- Revenue
- $1.9m
- Investments
- $13.6m
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 05/1991
- Data as of
- 12/2023
- 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 12/2023, Lavern T Busse & Audrey Busse Foundation generated $1.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $2.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lavern T Busse & Audrey Busse Foundation has awarded 348 individual grants totaling $7,448,435. 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 |
|---|---|---|---|
Lavern T Busse President/trustee | 4 | $0 | |
Audrey Busse Treasurer/trustee | 2 | $0 | |
Jeffrey Busse Executive Director/secretary/trustee | 12 | $38,503 | |
Monica Busse Vice President/trustee | 2 | $7,000 | |
Anna Busse Asst Secretary/trustee | 2 | $7,000 | |
Grace Busse Asst Treasurer/trustee | 2 | $7,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $975,795 |
| Interest on Savings | $38,450 |
| Dividends & Interest | $566,499 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $321,868 |
| Capital Gain Net Income | $321,868 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,902,612 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $224 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,527 |
| Total operating and administrative expenses | $78,364 |
| Contributions, gifts, grants paid | $1,976,942 |
| Total expenses and disbursements | $2,055,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,066,514 |
| 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 | $14,694,164 |
| 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 | $315,875 |
| Total liabilities | $315,875 |
Grants Awarded
Over the last fiscal year, Lavern T Busse & Audrey Busse Foundation has awarded $1,976,942 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
ALL SAINTS CHURCH PURPOSE: GENERAL OPERATING BUDGET | $2,000 |
BENTON COMMUNITY FOUNDATION PURPOSE: GENERAL OPERATING BUDGET | $10,000 |
BLESSMAN INTERNATIONAL INC PURPOSE: GENERAL OPERATING BUDGET | $1,100 |
BOYS & GIRLS CLUB OF CEDAR RAPIDS PURPOSE: GENERAL OPERATING BUDGET | $842,488 |
ARC OF EASTERN IOWA PURPOSE: GENERAL OPERATING BUDGET | $7,000 |
CALTECH ALUMNI ASSOCIATION PURPOSE: GENERAL OPERATING BUDGET | $5,000 |