Ife Foundation
- Assets
- $35.2m
- Revenue
- $593.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 01/2012
- Data as of
- 12/2023
- EIN
- 45-3819689
Organization Overview
Ife Foundation is located in Denver, CO. The organization was established in 2012. According to its NTEE Classification (T30) the organization is classified as: Public 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. Ife 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 12/2023, Ife Foundation generated $593.6k 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 (8.1%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Ife Foundation has awarded 48 individual grants totaling $12,160,992. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER CHARITABLE PURPOSES BY CHARITABLE GRANT MAKING; PROVIDED THAT ALL SUCH GRANTS SHALL BE MADE TO ORGANIZATIONS OR ENTITIES EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURRENT YEAR'S ACCOMPLISHMENTS INCLUDED MAKING CASH GRANTS TO CHARITABLE ORGANIZATIONS DESCRIBED IN SECTIONS 501(C)(3) AND 170(B)(1)(A)(I-VI) OF THE INTERNAL REVENUE CODE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ted Esler Director | Trustee | 7 | $0 |
Jason Bule President | OfficerTrustee | 11 | $0 |
Bill Leick Director | Trustee | 6 | $0 |
Nathan Lutz Director | Trustee | 9 | $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 | $106,806 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $606,571 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$119,775 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $593,602 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,945,548 |
| 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 | $17,450 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,509 |
| 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 | $537 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,760 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,254 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,979,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $301,863 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,293 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $623,086 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $20,798,188 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,500,000 |
| Other assets | $0 |
| Total assets | $35,242,430 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $35,242,430 |
| 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 | $35,242,430 |
Grants Awarded
Over the last fiscal year, Ife Foundation has awarded $1,945,548 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
ALL NATIONS PURPOSE: General Support | $300,000 |
BEYOND PURPOSE: General Support | $500,000 |
IMPACT INDONESIA PURPOSE: General Support | $452,253 |
NEW HORIZONS MINISTRIES PURPOSE: General Support | $31,000 |
NEAR EAST ORGANIZATION INC PURPOSE: General Support | $20,000 |
OC INTERNATIONAL PURPOSE: General Support | $300,000 |