Ifb Solutions Foundation Inc
- Assets
- $10.1m
- Revenue
- $293.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Winstonsalem, NC
- Founding
- 12/2008
- Data as of
- 09/2021
- EIN
- 26-3376328
Organization Overview
Ifb Solutions Foundation Inc, operating under the name Ifb Solutions Foundation, is located in Winstonsalem, NC. The organization was established in 2008. According to its NTEE Classification (G11) the organization is classified as: Single Organization Support, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ifb Solutions 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 09/2021, Ifb Solutions Foundation generated $293.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $86.7k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (24.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE EXCLUSIVELY FOR CHARITABLE PURPOSES FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF WINSTON-SALEM INDUSTRIES FOR THE BLIND, INC., A 501(C)(3) ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING EXCLUSIVELY FOR CHARITABLE PURPOSES FOR THE BENEFIT OF, PERFORMING THE FUNCTIONS OF OR CARRYING OUT THE PURPOSES OF WINSTON-SALEM INDUSTRIES FOR THE BLIND, INC. AS A TYPE ONE SUPPORTING ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Googe Chair | OfficerTrustee | 1 | $0 |
John Rowland Vice Chair | OfficerTrustee | 1 | $0 |
Mark Doughton Secretary | OfficerTrustee | 1 | $0 |
David Horton President | Officer | 1 | $0 |
Robert Burgess Cfo, Treasurer | Officer | 1 | $0 |
Wayne Morgan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $279,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,120 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $293,441 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $60,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $86,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,486 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,996,037 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,117,523 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $10,117,523 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,117,523 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ifb Solutions Foundation Inc has recieved totaling $10,010,452.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Industries For The Blind Inc Winstonsalem, NC PURPOSE: TRANSFER OF RESERVE FUND INVESTMENTS TO SUPPORTING ORGANIZATION | $9,998,514 |
Davie Community Foundation Inc Mocksville, NC | | $11,938 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thompson Cancer Survival Foundation Knoxville, TN | $13,217,499 | $588,264 |
Sarnoff Cardiovascular Research Foundation Inc Mclean, VA | $51,786,432 | $3,393,739 |
Interfaith Dental Supporting Foundation Nashville, TN | $6,997,857 | $311,030 |
Apfed Atlanta, GA | $651,819 | $642,748 |
Annandale Foundation Inc Suwanee, GA | $13,384,641 | $128,582 |
Sherrys Hope Inc Lebanon, TN | $987,864 | $411,621 |
Arlington County Medical Society Foundation Arlington, VA | $82,058 | $0 |
Ifb Solutions Foundation Inc Winstonsalem, NC | $10,117,523 | $293,441 |
Bay Aging Foundation Urbanna, VA | $894,888 | -$104,040 |
Snis Foundation Fairfax, VA | $711,470 | $166,385 |
Heart And Sole Inc Augusta, GA | $115,857 | $0 |
Type Taylor Inc Charlotte, NC | $7,880 | $1,648 |