Iba Foundation Inc
- Assets
- $12.4m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 07/1992
- Data as of
- 12/2020
- EIN
- 35-1855863
Organization Overview
Iba Foundation Inc is located in Indianapolis, IN. The organization was established in 1992. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iba 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 12/2020, Iba Foundation Inc generated $2.2m 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 (15.3%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATION PROGRAMS AND SERVICES TO THE MEMBERS OF THE BANKING INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENTION, CONFERENCES & SEMINARS AND RELATED EXPENSES PROVIDES EDUCATION & INFORMATION TO INDIANA BANKERS ASSOCIATION MEMBERS AND OTHERS ON BANKING TOPICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Garry D Kleer President | OfficerTrustee | 1 | $0 |
Jamie R Shinabarger First Vice President | OfficerTrustee | 1 | $0 |
Amber Van Til Assistant Treasurer | OfficerTrustee | 16 | $0 |
Rodney E Lasley Secretary | OfficerTrustee | 16 | $0 |
Benjamin J Bochnowski Second VP & Treasurer | OfficerTrustee | 1 | $0 |
Paul Freeman Evp- CFO | Officer | 16 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,000 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $909,019 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,236,680 |
| Statement of Expenses | |
|---|---|
| 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. | $157,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $840,504 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,140 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,468 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,165 |
| Advertising and promotion | $0 |
| Office expenses | $13,673 |
| Information technology | $74,196 |
| Royalties | $0 |
| Occupancy | $168,276 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $224,671 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,541 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,916,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,444 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $118,500 |
| Accounts receivable, net | $129,878 |
| 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 | $25,249 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,083,400 |
| Total assets | $12,440,961 |
| Accounts payable and accrued expenses | $170,260 |
| Grants payable | $0 |
| Deferred revenue | $348,815 |
| 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 | $889,704 |
| Total liabilities | $1,408,779 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $11,032,182 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Iba Foundation Inc has recieved totaling $12,000.
| Awarding Organization | Amount |
|---|---|
Northern Indiana Community Foundation Inc Rochester, IN PURPOSE: GENERAL SUPPORT | $10,000 |
First Source Foundation C/O 1st Source Bank 100 N Michigan St South Bend, IN PURPOSE: GENERAL SUPPORT | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
David F And Margaret T Grohne Family Foundation Western Springs, IL | $161,662,019 | $15,904,271 |
The Burke Foundation Inc Milwaukee, WI | $121,362,007 | $6,169,378 |
Illinois Assistive Technology Program Springfield, IL | $10,127,419 | $6,900,669 |
Crossroads Fund Chicago, IL | $13,233,891 | $8,800,082 |
Vine And Branches Foundation Inc Brookfield, WI | $8,641,827 | $2,521,561 |
Association Of State Floodplain Managers Inc Madison, WI | $3,465,086 | $3,791,524 |
Alan Stone Family Charitable Foundation % Reed Smith LLP - Harry Rosenberg Chicago, IL | $0 | $100,169 |
Peter And Paula Fasseas Foundation Chicago, IL | $50,357,726 | $8,283,085 |
Jefferson City Parks And Recreation Foundation Jefferson City, MO | $842,423 | $291,038 |
Stephenson Family Foundation Schaumburg, IL | $89,371 | $3,480,000 |
Galesburg Community Foundation Galesburg, IL | $41,357,933 | $5,623,656 |
Dismas Charities Properties Inc Louisville, KY | $71,077,691 | $7,449,643 |