Ibm International Foundation
- Assets
- $313.8m
- Revenue
- $35.9m
- Investments
- $300.5m
- Employees
- 0
- Location
- Armonk, NY
- Founding
- 11/1985
- Data as of
- 12/2022
- EIN
- 13-3267906
Organization Overview
Ibm International Foundation is located in Armonk, NY. The organization was established in 1985. According to its NTEE Classification (Q99) the organization is classified as: International, Foreign Affairs & National Security N.E.C., under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ibm International Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Ibm International Foundation generated $35.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $16.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Ibm International Foundation has awarded 5,078 individual grants totaling $42,251,806. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE IBM INTERNATIONAL FOUNDATION PROVIDED EDUCATIONAL AND SKILLS PROGRAMS TO FOCUS ON SKILLS NEEDED FOR 21ST CENTURY JOBS THROUGH THE FOLLOWING PROGRAMS:P-TECH IS A GROUND BREAKING EDUCATION MODEL WHICH COMBINES PUBLIC HIGH SCHOOL AND NO-COST COMMUNITY COLLEGE WITH PREPARATION FOR "NEW COLLAR" JOBS. P-TECH STUDENTS, PRIMARILY FROM UNDER-SERVED BACKGROUNDS, GRADUATE WITH A NO-COST ASSOCIATE DEGREE, ALONG WITH WORKPLACE EXPERIENCES INCLUDING MENTORSHIPS.SKILLSBUILD OFFERS FREE LEARNING, SUPPORT, AND RESOURCES FROM SECONDARY EDUCATION (STUDENTS AGED 13-18) TO ADULTS SEEKING ENTRY-LEVEL EMPLOYMENT. SKILLSBUILD PROVIDES SKILLS FOR ENTRY-LEVEL TECH JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arvind Krishna Chairman, Director | 1 | $0 | |
Justina Nixon-Saintil Director, President & Vice Chair | 10 | $0 | |
Simon J Beaumont Director, Treasurer | 1 | $0 | |
Kathleen Mcdonald Controller | 1 | $0 | |
Frank Sedlarcik Secretary | 1 | $0 | |
Stephen Lett Assistant Controller | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
State Street Bank & Trust Co | 12/30/22 | $289,215 |
Experis Us Inc | 12/30/22 | $3,793,504 |
Ibm Corporation | 12/30/22 | $3,671,943 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $11,159,714 |
| Interest on Savings | $83,275 |
| Dividends & Interest | $7,809,111 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,831,166 |
| Capital Gain Net Income | $20,207,253 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $35,883,266 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $511,500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $8,307,724 |
| Contributions, gifts, grants paid | $8,001,120 |
| Total expenses and disbursements | $16,308,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,288,834 |
| Net Accounts receivable | $10 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $313,789,501 |
| Accounts payable and accrued expenses | $1,797,060 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,797,060 |
Grants Awarded
Over the last fiscal year, Ibm International Foundation has awarded $10,330,120 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
COMPTIA TECH CAREER ACADEMY (CTCA) PURPOSE: PROVIDING A+ TRAINING AND CERTIFICATION TO UNDERSERVED COMMUNITIES | $350,000 |
CARVER VOCATIONAL TECHNICAL HS PURPOSE: TRANSPORTATION FOR PTECH STUDENTS TO ATTEND INTERNSHIPS | $2,000 |
JOBS FOR THE FUTURE INC - PTECH PURPOSE: SUPPORT FOR THE NEXT PHASE OF PTECH | $1,134,000 |
JOBS FOR THE FUTURE INC -SKILLBUILD PURPOSE: SUPPORTING DIGITAL AND PROFESSIONAL SKILLS FOR ADULT LEARNERS | $610,000 |
MAGIS AMERICAS PURPOSE: SUPPORTING THE EXPANSION OF P-TECH IN LATIN AMERICA | $549,646 |
NEWBURGH ENGLARGED CITY SCHOOL DISTRICT (ECSD) PURPOSE: TRANSPORTATION FOR PTECH STUDENTS TO ATTEND INTERNSHIPS | $10,000 |