Chisbetts Foundation
Chisbetts Foundation is a private foundation, based in Madison Heights, MI. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $529K in total assets. Net investment income was $13K.
Chisbetts Foundation at a glance
- Total assets
- $529,306
- +2.5% vs 2024
- Revenue (2025)
- $20,220
- -16.5% vs 2024
- Net investment income (2025)
- $13,454
- -61.8% vs 2024
- Expenses (2025)
- $6,766
- +90.3% vs 2024
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Chisbetts Foundation funds
How this funder distributes its grants
Grant Size Distribution
6 grants across all recorded years
The most common grant size was under $50K: 6 grants of 6 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
How Chisbetts Foundation gives
- In 2023 it paid out 22% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2023, annual grant giving ranged from $5K (2023) to $15K (2022). In 2023 it made 1 grant totaling $5K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Ferris State University Big Rapids, MI | Unrestricted | $5,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $529,306 | $20,220 | $6,766 | — | — | — | $13,454 | $29,166 |
| 2024 | $516,224 | $24,212 | $3,556 | — | — | — | $35,177 | $25,876 |
| 2023 | $487,841 | $20,111 | $8,473 | $5,000 | 1 | $5,000 | $16,638 | $22,851 |
| 2022 | $476,203 | $7,091 | $22,746 | $15,000 | 3 | $15,000 | $18,433 | $25,183 |
| 2021 | $509,723 | $-20,136 | $24,953 | $10,000 | 2 | — | — | $24,835 |
Under IRS private-foundation payout rules, Chisbetts Foundation reported a distributable amount of $29K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Chisbetts Foundation's 2025 filing lists 2 officers; none of the 2 officers listed in 2025 report compensation.
Officers on the 2025 filing
Joseph P. Galasso Jr.
Director
On filings since 2021
1 hr/week
No compensation reported
Betty Chisholm
Directors
New on the 2025 filing
8 hrs/week
No compensation reported
Former officers (1)
- Former: Donald Betty Chisholm (2021–2024) — Directors
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Chisbetts Foundation
How large is Chisbetts Foundation?
Chisbetts Foundation reported $529K in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $20K.
Where does Chisbetts Foundation operate?
Chisbetts Foundation has awarded grants in Michigan.
How much is Chisbetts Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Chisbetts Foundation reported a distributable amount of $29K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Chisbetts Foundation's EIN?
Chisbetts Foundation's EIN (Employer Identification Number) is 61-1437291. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
Explore Open Grants
Browse active grant opportunities in Chisbetts Foundation's focus areas in our free grants database
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