Busby Memorial Educational Fund

Detroit, MI
Tax-exempt since March 1995
EIN: 38-2683345

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Scholarships, Student Financial Aid Services, Awards (NTEE)

Donations to this organization are tax deductible.

Revenue

$104k (2024)

Expenses

$114k (2024)

Total Assets

$1.57M (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$104,258

Expenses

$114,446

Net Income

-$10,188

Net Assets

$1,574,165

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$46,376	44.5%
Sales of Assets	$57,882	55.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$87,604	76.5%
Compensation of Officers*	$28,414	24.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,574,165
Total Liabilities	$0
Net Assets	$1,574,165

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$28,414	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on Oct. 7, 2025

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Fiscal Year Ending Dec.
2023

Revenue

$93,329

Expenses

$118,365

Net Income

-$25,036

Net Assets

$1,581,733

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$46,367	49.7%
Sales of Assets	$46,962	50.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$93,274	78.8%
Compensation of Officers*	$26,579	22.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,581,733
Total Liabilities	$0
Net Assets	$1,581,733

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$26,579	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on Oct. 30, 2024

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Fiscal Year Ending Dec.
2022

Revenue

$101,213

Expenses

$119,274

Net Income

-$18,061

Net Assets

$1,608,434

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$38,131	37.7%
Sales of Assets	$63,069	62.3%
Other Income	$13	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$91,547	76.8%
Compensation of Officers*	$28,110	23.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,608,434
Total Liabilities	$0
Net Assets	$1,608,434

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$28,110	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on Oct. 31, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$130,747

Expenses

$115,837

Net Income

$14,910

Net Assets

$1,621,401

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$50,519	38.6%
Sales of Assets	$78,101	59.7%
Other Income	$2,127	1.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$86,811	74.9%
Compensation of Officers*	$31,170	26.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,621,401
Total Liabilities	$0
Net Assets	$1,621,401

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$31,170	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on May 12, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$78,172

Expenses

$110,009

Net Income

-$31,837

Net Assets

$1,612,411

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$32,688	41.8%
Sales of Assets	$45,484	58.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$85,145	77.4%
Compensation of Officers*	$26,755	24.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,612,412
Total Liabilities	$1
Net Assets	$1,612,411

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$26,755	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on May 5, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$65,928

Expenses

$117,583

Net Income

-$51,655

Net Assets

$1,645,706

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$46,186	70.1%
Sales of Assets	$19,742	29.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$85,956	73.1%
Compensation of Officers*	$26,275	22.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,645,707
Total Liabilities	$1
Net Assets	$1,645,706

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$26,275	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on July 13, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$213,839

Expenses

$119,135

Net Income

$94,704

Net Assets

$1,698,701

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$41,991	19.6%
Sales of Assets	$171,626	80.3%
Other Income	$222	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$92,073	77.3%
Compensation of Officers*	$26,990	22.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,698,701
Total Liabilities	$0
Net Assets	$1,698,701

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$26,990	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on May 6, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$109,285

Expenses

$112,045

Net Income

-$2,760

Net Assets

$1,602,501

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$40,852	37.4%
Sales of Assets	$67,151	61.4%
Other Income	$1,282	1.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$91,033	81.2%
Compensation of Officers*	$21,812	19.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,602,501
Total Liabilities	$0
Net Assets	$1,602,501

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$21,812	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on May 12, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$19,761

Expenses

$191,687

Net Income

-$171,926

Net Assets

$1,605,529

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$36,734	> 100%
Sales of Assets	-$16,973
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$168,847	88.1%
Compensation of Officers*	$22,278	11.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,605,529
Total Liabilities	$0
Net Assets	$1,605,529

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$22,278	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on May 11, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$82,789

Expenses

$46,001

Net Income

$36,788

Net Assets

$1,773,169

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$40,800	49.3%
Sales of Assets	$41,989	50.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$24,616	53.5%
Compensation of Officers*	$22,523	49.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,773,169
Total Liabilities	$0
Net Assets	$1,773,169

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$22,523	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on May 17, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$120,359

Expenses

$117,416

Net Income

$2,943

Net Assets

$1,740,522

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$43,986	36.5%
Sales of Assets	$76,277	63.4%
Other Income	$96	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$94,847	80.8%
Compensation of Officers*	$22,926	19.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,740,522
Total Liabilities	$0
Net Assets	$1,740,522

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$22,926	$0
John M Chase Jr (Co Trustee)	$0	$0

990-PF

Filed on May 6, 2015

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Fiscal Year Ending Dec.
2013

Revenue

$159,739

Expenses

$125,893

Net Income

$33,846

Net Assets

$1,737,730

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$40,161	25.1%
Sales of Assets	$118,199	74.0%
Other Income	$1,379	0.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$98,788	78.5%
Compensation of Officers*	$27,824	22.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,737,730
Total Liabilities	$0
Net Assets	$1,737,730

Compensation

Key Employees and Officers	Compensation	Other
Comerica Bank (Co Trustee)	$22,714	$0
John M Chase Jr (Co Trustee)	$5,110	$0

990-PF

Filed on July 12, 2014

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Fiscal Year Ending Dec.
2012

Revenue

$55,402

Expenses

$88,515

Net Income

-$33,113

Net Assets

$1,702,821

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$42	0.1%
Dividends	$47,114	85.0%
Sales of Assets	$8,209	14.8%
Other Income	$37	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$61,786	69.8%
Compensation of Officers*	$22,485	25.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,702,822
Total Liabilities	$1
Net Assets	$1,702,821

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$158,774

Expenses

$81,500

Net Income

$77,274

Net Assets

$1,737,929

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$39	0.0%
Dividends	$49,346	31.1%
Sales of Assets	$108,698	68.5%
Other Income	$691	0.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$58,875	72.2%
Compensation of Officers*	$22,357	27.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,737,930
Total Liabilities	$1
Net Assets	$1,737,929

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Busby Memorial Educational Fund

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $104k (2024)

Expenses $114k (2024)

Total Assets $1.57M (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$104k (2024)

Expenses

$114k (2024)

Total Assets

$1.57M (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

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2023

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2015

Fiscal Year Ending Dec.
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2013

Fiscal Year Ending Dec.
2012

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