Independence Blue Cross Foundation
- Assets
- $118.0m
- Revenue
- $1.0m
- Investments
- $113.5m
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 10/2011
- Data as of
- 12/2022
- EIN
- 36-4685801
Organization Overview
Independence Blue Cross Foundation is located in Philadelphia, PA. The organization was established in 2011. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Independence Blue Cross 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, Independence Blue Cross Foundation generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (25.4%) each year. All expenses for the organization totaled $12.9m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Independence Blue Cross Foundation has awarded 427 individual grants totaling $26,653,126. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charisse R Lillie ESQ Chairman Of Board Of Directors | 0.5 | $0 | |
Lorina L Marshall-Blake President/director | 1.5 | $0 | |
Juan A Lopez Jr Treasurer | 0.5 | $0 | |
Jessica C Lamanna ESQ Secretary | 0.5 | $0 | |
Joan P Hilferty Director | 0.5 | $0 | |
Christopher Cashman Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $187,474 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,445,263 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,734,910 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $103,000 |
| Total Revenue | $1,000,827 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $20,314 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $130,002 |
| Total operating and administrative expenses | $946,939 |
| Contributions, gifts, grants paid | $11,926,171 |
| Total expenses and disbursements | $12,873,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,900,690 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $416,175 |
| Net Pledges Receivable | $0 |
| Grants receivable | $206,036 |
| 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 | $23,980 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $55,940,029 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $118,000,941 |
| Accounts payable and accrued expenses | $138,383 |
| Grants payable | $707,098 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $521 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $846,002 |
Grants Awarded
Over the last fiscal year, Independence Blue Cross Foundation has awarded $12,839,614 in support to 169 organizations.
| Grant Recipient | Amount |
|---|---|
ABINGTON HEALTH FOUNDATION PURPOSE: ACCESS TO CARE - GENERAL OPERATING SUPPORT | $30,000 |
ALBERT EINSTEIN MEDICAL CENTER PURPOSE: ACCESS TO CARE - QUALITY CARE | $20,000 |
ANN SILVERMAN COMMUNITY HEALTH CLINIC PURPOSE: ACCESS TO CARE - GENERAL OPERATING SUPPORT | $70,000 |
ALBERT EINSTEIN MEDICAL CENTER PURPOSE: ACCESS TO CARE - GENERAL OPERATING SUPPORT | $50,000 |
ANN SILVERMAN COMMUNITY HEALTH CLINIC PURPOSE: ACCESS TO CARE - QUALITY CARE | $15,000 |
ASSOCIATION OF RECOVERY IN HIGHER EDUCATION PURPOSE: ACCESS TO CARE - STOP - COLLEGIATE RECOVERY PROGRAM | $20,000 |