Ife Foundation
- Assets
- $38.3m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 01/2012
- Data as of
- 12/2021
- 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 12/2021, Ife Foundation generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 38.4% each year . All expenses for the organization totaled $2.7m during the year ending 12/2021. While expenses have increased by 27.6% per year over the past 7 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.
Since 2018, Ife Foundation has awarded 42 individual grants totaling $9,823,828. 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
2021
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 |
|---|---|---|---|
Jason Bule President | OfficerTrustee | 9 | $0 |
Bill Leick Director | Trustee | 6 | $0 |
Nathan Lutz Director | Trustee | 8 | $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 | $164,540 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,724,151 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,123,997 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,012,688 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,646,643 |
| 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 | $47,170 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,277 |
| 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 | $266 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,749 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,093 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,703,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $972,775 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $140,120 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $838,370 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $22,861,722 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,500,000 |
| Other assets | $0 |
| Total assets | $38,312,987 |
| 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 | $38,312,987 |
| 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 | $38,312,987 |
Grants Awarded
Over the last fiscal year, Ife Foundation has awarded $2,646,643 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Los Altos, CA PURPOSE: General Support | $745,300 |
Fayetteville, GA PURPOSE: General Support | $494,376 |
Richardson, TX PURPOSE: General Support | $460,000 |
Grandview, MO PURPOSE: General Support | $300,000 |
Colorado Springs, CO PURPOSE: General Support | $176,000 |
Littleton, CO PURPOSE: General Support | $156,650 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ife Foundation has recieved totaling $19,800,000.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: SUPPORT | $19,800,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amg Charitable Gift Foundation Greenwood Village, CO | $149,608,626 | $31,189,759 |
Faith Charitable Trust Omaha, NE | $0 | $922,113 |
Peopleforbikes Foundation Boulder, CO | $3,836,789 | $4,747,548 |
Olathe Health System Inc Olathe, KS | $604,759,622 | $8,223,691 |
Grand Teton National Park Foundation Moose, WY | $17,490,260 | $12,374,107 |
Colorado Springs Health Foundation Colorado Springs, CO | $192,761,783 | $20,158,263 |
Community Clinics At Mrh Craig, CO | $2,546,314 | $4,871,469 |
Park City Community Foundation Park City, UT | $23,921,888 | $11,932,031 |
Love Family Affiliated Fund Of The Oklahoma City Community Foundation Oklahoma City, OK | $15,024,266 | $3,226,115 |
Cnm Ingenuity Incoproration Albuquerque, NM | $23,986,328 | $5,524,320 |
Pi Foundation Inc Salt Lake City, UT | $42,544,136 | $12,945,919 |
Sun Angel Foundation Inc Tempe, AZ | $37,255,454 | $9,354,798 |