The IBMA Foundation, Inc.
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$143,890.00
Projected Expenses
$129,327.00
Organizational Budgets and Other Documents
| 2023-24 IBMA Fdn Budget | 2024 |
| 2022-23 Budget | 2023 |
| 2021-2022 Budget | 2022 |
| IBMA Fdn budget 2020-21 | 2021 |
| 2019-2020 Budget | 2020 |
| 2018-2019 Budget | 2019 |
IRS Letter of Exemption
| IRS Letter of Determination |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $127,048.00 | $232,039.00 | $349,936.00 |
| Total Expenses | $124,084.00 | $108,244.00 | $261,250.00 |
| Revenue Less Expenses | $2,964.00 | $123,795.00 | $88,686.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $67,490.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $0.00 | $0.00 | $0.00 |
| Contributions, Gifts, and Grants | $108,488.00 | $199,084.00 | $260,173.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $13,650.00 | $420.00 | $60.00 |
| Investment Income, Net of Losses | $4,780.00 | $11,464.00 | $7,053.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $21,030.00 | $15,145.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $120.00 | $41.00 | $15.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $83,257.00 | $77,102.00 | $235,693.00 |
| Administration Expense | $29,526.00 | $31,142.00 | $25,557.00 |
| Fundraising Expense | $11,301.00 | $0.00 | $0.00 |
| Total Revenue/Total Expenses | 102% | 214% | 134% |
| Program Expense/Total Expenses | 67% | 71% | 90% |
| Fundraising Expense/Contributed Revenue | 9% | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $108,488.00 | Contributions, Gifts, and Grants $199,084.00 | Contributions, Gifts, and Grants $260,173.00 |
| Second Highest Funding Source & Dollar Amount | Program Revenue $13,650.00 | Fundraising Events $21,030.00 | Foundation and Corporations $67,490.00 |
| Third Highest Funding Source & Dollar Amount | Investment Income $4,780.00 | Investment Income $11,464.00 | Fundraising Events $15,145.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $437,779.00 | $411,918.00 | $336,759.00 |
| Current Assets | $113,173.00 | $123,207.00 | $123,572.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $0.00 | $0.00 | $0.00 |
| Total Net Assets | $437,779.00 | $411,918.00 | $336,759.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$207,412.00
What is the spending policy for your endowment?
N/A
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
December
Permit Expiration Year
2024
Solicitations Permit
Form 990s
| IBMA Foundation 990 | 2023 |
| 990 2022 IBMA Foundation, Inc. | 2022 |
| 990 | 2022 |
| 990 | 2021 |
| 990EZ | 2020 |
| 990 | 2019 |
| 990N | 2018 |
| 990N | 2017 |
| 990N | 2016 |
| 990N | 2015 |
Audit Documents
| 2021-22 End of Year Report | 2022 |
| 2020-2021 End of Year Report | 2021 |
| 2020-2021 Financial Audit | 2021 |
| 2018-2019 End of Year Report | 2019 |
Foundation Staff Comments
| Financial figures taken from the NATIONAL Form 990. Organization based in Burlington, NC. Foundation and corporate grants may be included in Contributions, Gifts, and Grants sum, as these are not separated in Form 990. In some years, Schedule B removed to protect donor privacy. Form 990 was prepared by Riney Hancock CPAs PSC. Comments provided by Nicole Rose 05/24/2024. |
