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Nonprofit · EIN 37-6107738

VERNA K TOWNSEND TRUST

Also known as BUSEY TR CO TTEE

Tax-exempt · CHAMPAIGN, IL 61824

Financials

$117K$103K2023$149K$106K2024$141K$111K2025
Revenue Expenses · by fiscal year end
Financials of VERNA K TOWNSEND TRUST by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$140,612$111,137$29,475$1,827,736$0$1,827,736
December 31, 2024990$149,025$106,444$42,581$1,798,448$0$1,798,448
December 31, 2023990$117,464$103,265$14,199$1,755,877$0$1,755,877
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$0
Investment income
$49,583
Net rental income
$91,029
Net gain from sales of assets
$22,915
Other revenue
$91,029

Expenses

Grants and similar amounts paid
$100,000
Compensation of officers, directors and key employees
$9,849
Salaries, compensation and benefits (total)
$9,849
Professional fundraising fees
$0
Accounting fees
$950
Program services (functional)
$100,000
Management and general (functional)
$11,137

Balance sheet and other

Total assets, start of year
$1,798,448
Total assets, end of year
$1,827,736
Total liabilities, end of year
$0
Net assets, end of year
$1,827,736
Land, buildings and equipment
$1,177,151
Publicly traded securities
$476,284
Gross receipts
$267,515
Employees
0
Year formed
1979
State of legal domicile
IL

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 for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensation
BUSEY BANKTRUSTEE
Institutional trustee
–$9,848
990 for the year ended December 31, 2024: 1 people
NameTitleHours / weekCompensation
BUSEY BANKTRUSTEE
Institutional trustee
1$8,786
990 for the year ended December 31, 2023: 1 people
NameTitleHours / weekCompensation
BUSEY BANKTRUSTEE
Institutional trustee
1$7,824

Address and contacts

Address (IRS master file)
PO BOX 260, CHAMPAIGN, IL 61824-0260
Principal officer (990 for 2025)
BUSEY BANK TRUSTEE, PO BOX 260, CHAMPAIGN, IL 618240260
Signed the 990
BUSEY BANK, Trustee

Mission

THE VERNA K TOWNSEND TRUST PROVIDES FOR $2,500 ANNUAL SCHOLARSHIPS TO BE GIVEN TO STUDENTS AT THE UNIVERSITY OF ILLINOIS WHO ARE CURRENTLY ENROLLED IN THE COLLEGE OF LAW AND SCHOOL OF MUSIC.

990 for the year ended December 31, 2025

Program accomplishments

  • UNIVERSITY OF ILLINOIS COLLEGE OF LAW
    Expenses $50,000 · grants $50,000
  • UNIVERSITY OF ILLINOIS SCHOOL OF MUSIC
    Expenses $50,000 · grants $50,000

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
37-6107738
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Supporting organization, Type III functionally integrated
Donations deductible (Pub 78)
Supporting organization, 50% limit
Exempt since
2018
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B82)
Assets (IRS master file)
$1,827,736
Income (IRS master file)
$267,515

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$140,612$111,137$1,827,736XML
990December 2024$149,025$106,444$1,798,448XML
990December 2023$117,464$103,265$1,755,877XML
990December 2022$139,902$99,001$1,740,434IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 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 37-6107738).

Questions about VERNA K TOWNSEND TRUST

What is the EIN of VERNA K TOWNSEND TRUST?
The employer identification number (EIN) of VERNA K TOWNSEND TRUST is 37-6107738.
Is VERNA K TOWNSEND TRUST tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
Are donations to VERNA K TOWNSEND TRUST tax-deductible?
Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
Which annual return does VERNA K TOWNSEND TRUST file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of VERNA K TOWNSEND TRUST due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did VERNA K TOWNSEND TRUST last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of VERNA K TOWNSEND TRUST?
The 990 for the year ended December 31, 2025 names BUSEY BANK TRUSTEE.
Who are the officers and directors of VERNA K TOWNSEND TRUST?
The 990 for the year ended December 31, 2025 lists 1 person; 1 received compensation from the organization, the highest $9,848 (BUSEY BANK, TRUSTEE).
How much revenue does VERNA K TOWNSEND TRUST have?
On its 990 for the year ended December 31, 2025 it reported revenue of $140,612, expenses of $111,137 and total assets of $1,827,736 at year end.

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