Gibault Foundation Inc
- Assets
- $15.1m
- Revenue
- $1.5m
- Investments
- $36.0k
- Employees
- 0
- Location
- Terre Haute, IN
- Founding
- 03/1988
- Data as of
- 12/2022
- EIN
- 35-1718781
Organization Overview
Gibault Foundation Inc is located in Terre Haute, IN. The organization was established in 1988. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gibault Foundation Inc 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, Gibault Foundation Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 0.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT TO GIBAULT, INC. (A 501(C)(3) ORGANIZATION).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GIBAULT FOUNDATION, INC. IS DEDICATED TO BENEFITING, SERVICING, AND SOLELY SUPPORTING GIBAULT, INC. ( A NOT-FOR-PROFIT 501(C)(3) ORGANIZATION). THE FOUNDATION CONTRIBUTES TO GIBAULT, INC. FOR PROGRAMS AND OPERATIONS.
IN SUPPORT OF GIBAULT INC.'S FUTURE GROWTH, DEVELOPMENT, AND FINANCIAL WELL-BEING, THE FOUNDATION OWNS AND MAINTAINS THE BUILDINGS, LAND AND LAND IMPROVEMENTS. THE BUILDINGS ARE LEASED BY GIBAULT, INC. FOR VARIOUS PROGRAMS. DEPRECIATION EXPENSE WAS $318,374 IN 2022. ADDITIONALLY, THE FOUNDATION PAID INTEREST EXPENSE TO A LOCAL BANK RELATED TO A BOND ISSUE INCURRED TO RENOVATE EXISTING BUILDINGS. INTEREST PAID DURING 2022 WAS $46,142. THE FOUNDATION RECEIVED LEASE PAYMENTS FROM GIBAULT, INC. TOTALING $825,000 DURING 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Zielinski Secretary | OfficerTrustee | 1 | $0 |
Jeffrey R Guenther Treasurer | OfficerTrustee | 1 | $0 |
Scott Crossen Vice President | OfficerTrustee | 1 | $0 |
Martin Mccoy Director | Trustee | 1 | $0 |
Scott Schutte President | OfficerTrustee | 1 | $0 |
Michele Madley CEO | Officer | 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 | $237,053 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $237,053 |
| Total Program Service Revenue | $825,000 |
| Investment income | $193,698 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $221,906 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,538,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $850,000 |
| 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 | $25,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $44,018 |
| 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 | $46,142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $318,374 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,337,880 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $369,489 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,894 |
| 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 | $5,977,623 |
| Investments—publicly traded securities | $8,587,257 |
| Investments—other securities | $36,004 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $153,240 |
| Total assets | $15,146,507 |
| Accounts payable and accrued expenses | $17,942 |
| 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 | $1,423,504 |
| Total liabilities | $1,441,446 |
| Net assets without donor restrictions | $13,515,697 |
| Net assets with donor restrictions | $189,364 |
| 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 | $15,146,507 |