Iba Foundation Inc
- Assets
- $13.1m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 07/1992
- Data as of
- 12/2022
- 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 12/2022, Iba Foundation Inc generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
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:
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 |
|---|---|---|---|
Jamie R Shinabarger President | OfficerTrustee | 1 | $0 |
Amber Van Til Assistant Treasurer | OfficerTrustee | 16 | $0 |
Rodney E Lasley Secretary | OfficerTrustee | 16 | $0 |
Benjamin J Bochnowski First Vice President | OfficerTrustee | 1 | $0 |
Matthew W Howrey Second VP & Treasurer | OfficerTrustee | 1 | $0 |
Dax E Denton Chief Policy Officer | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
French Lick Springs Resort Convention Location | 12/30/22 | $139,605 |
Centerplate Mega Event Food And Beverage | 12/30/22 | $109,349 |
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 | $51,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,000 |
| Total Program Service Revenue | $2,061,423 |
| Investment income | $659,398 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,809,142 |
| 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. | $164,010 |
| Compensation of current officers, directors, key employees. | $31,191 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,126,763 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,493 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,252 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,263 |
| Fees for services: Other | $43,762 |
| Advertising and promotion | $0 |
| Office expenses | $26,337 |
| Information technology | $77,753 |
| Royalties | $0 |
| Occupancy | $41,856 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $490,717 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,361 |
| Insurance | $0 |
| All other expenses | $754,156 |
| Total functional expenses | $2,801,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $735,137 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $146,702 |
| 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 | $16,171 |
| Net Land, buildings, and equipment | $9,879 |
| Investments—publicly traded securities | $12,232,795 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,140,684 |
| Accounts payable and accrued expenses | $108,550 |
| Grants payable | $0 |
| Deferred revenue | $176,409 |
| 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 | $1,493,775 |
| Total liabilities | $1,778,734 |
| Net assets without donor restrictions | $11,361,950 |
| 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 | $13,140,684 |