Nonprofit · EIN 75-2342746
LAVERN T BUSSE & AUDREY BUSSE FOUNDATION
Tax-exempt · CEDAR RAPIDS, IA 52402
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $1,033,335 | $3,071,505 | -$2,038,170 | $15,041,226 | $295,608 | $14,745,618 |
| December 31, 2023 | 990-PF | $1,902,612 | $2,055,306 | -$152,694 | $14,694,164 | $315,875 | $14,378,289 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $302,335
- Dividends
- $667,169
- Interest
- $51,231
- Net gain from sales of assets
- $12,600
Expenses
- Grants and similar amounts paid
- $2,837,487
- Compensation of officers, directors and key employees
- $88,875
- Disbursements for charitable purposes
- $2,938,090
- Excise tax on investment income
- $8,515
Balance sheet and other
- Total assets, start of year
- $14,694,164
- Total assets, end of year
- $15,041,226
- Total liabilities, end of year
- $295,608
- Net assets, end of year
- $14,745,618
- Fair market value of assets
- $105,578,146
- Qualifying distributions
- $2,938,090
- Net investment income
- $731,000
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JEFFREY BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | EXECUTIVE DIRECTOR/SECRETARY/TRUSTEE | 12 | $77,500 |
| MICHELE BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | TRUSTEE | 5 | $11,375 |
| LAVERN T BUSSE 2310 HERITAGE GREEN DRIVE, HIAWATHA, IA 52233 | PRESIDENT/TRUSTEE | 4 | $0 |
| AUDREY BUSSE 2310 HERITAGE GREEN DRIVE, HIAWATHA, IA 52233 | TREASURER/TRUSTEE | 2 | $0 |
| MONICA BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | VICE PRESIDENT/TRUSTEE | 2 | $0 |
| ANNA BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | ASST SECRETARY/TRUSTEE | 2 | $0 |
| GRACE BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | ASST TREASURER/TRUSTEE | 2 | $0 |
990-PF for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JEFFREY BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | EXECUTIVE DIRECTOR/SECRETARY/TRUSTEE | 12 | $38,503 |
| MICHELE BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | TRUSTEE | 5 | $10,501 |
| MONICA BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | VICE PRESIDENT/TRUSTEE | 2 | $7,000 |
| ANNA BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | ASST SECRETARY/TRUSTEE | 2 | $7,000 |
| GRACE BUSSE 6718 COTTAGE HILL LANE NE, CEDAR RAPIDS, IA 52411 | ASST TREASURER/TRUSTEE | 2 | $7,000 |
| LAVERN T BUSSE 2310 HERITAGE GREEN DRIVE, HIAWATHA, IA 52233 | PRESIDENT/TRUSTEE | 4 | $0 |
| AUDREY BUSSE 2310 HERITAGE GREEN DRIVE, HIAWATHA, IA 52233 | TREASURER/TRUSTEE | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 2129 N TOWNE LN NE STE B, CEDAR RAPIDS, IA 52402-1968
- In care of
- % LAVERN T BUSSE
- Signed the 990-PF
- JEFF BUSSE, TRUSTEE
- Phone
- (319) 395-9636
- Return prepared by
- HONKAMP PC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 75-2342746
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1991
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $15,041,226
- Income (IRS master file)
- $2,803,247
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $1,033,335 | $3,071,505 | $15,041,226 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $1,902,612 | $2,055,306 | $14,694,164 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 75-2342746).
Questions about LAVERN T BUSSE & AUDREY BUSSE FOUNDATION
- What is the EIN of LAVERN T BUSSE & AUDREY BUSSE FOUNDATION?
- The employer identification number (EIN) of LAVERN T BUSSE & AUDREY BUSSE FOUNDATION is 75-2342746.
- Is LAVERN T BUSSE & AUDREY BUSSE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1991.
- Are donations to LAVERN T BUSSE & AUDREY BUSSE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does LAVERN T BUSSE & AUDREY BUSSE FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of LAVERN T BUSSE & AUDREY BUSSE FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAVERN T BUSSE & AUDREY BUSSE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of LAVERN T BUSSE & AUDREY BUSSE FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 7 people; 2 received compensation from the organization, the highest $77,500 (JEFFREY BUSSE, EXECUTIVE DIRECTOR/SECRETARY/TRUSTEE).
- How much revenue does LAVERN T BUSSE & AUDREY BUSSE FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $1,033,335, expenses of $3,071,505 and total assets of $15,041,226 at year end.
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