The Gibbs Foundation Inc
- Assets
- $2.4m
- Revenue
- $143.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 05/2015
- Data as of
- 12/2021
- EIN
- 46-5391268
Organization Overview
The Gibbs Foundation Inc is located in Louisville, KY. The organization was established in 2015. 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. Gibbs 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 12/2021, Gibbs Foundation Inc generated $143.6k 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 (12.9%) each year. All expenses for the organization totaled $788.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Gibbs Foundation Inc has awarded 15 individual grants totaling $2,014,255. 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
THE GIBBS FOUNDATION'S PURPOSE IS TO PROVIDE FUNDS TO ORGANIZATIONS QUALIFYING AS EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS STIPULATED BY THE GIBBS FOUNDATION CRITERIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GIBBS FOUNDATION'S PURPOSE IS TO PROVIDE FUNDS TO ORGANIZATIONS QUALIFYING AS EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS STIPULATED BY THE GIBBS FOUNDATION CRITERIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George S Gibbs III Chairman/executive Directo | OfficerTrustee | 1 | $400 |
Ann D Schell Vice Chairman/secretary | OfficerTrustee | 1 | $400 |
James E Moore III Treasurer | OfficerTrustee | 1 | $400 |
Hannah Roquet Director | Trustee | 1 | $400 |
Jack A Moss Jr Director | Trustee | 1 | $400 |
Lee Groza Board Member | Trustee | 1 | $400 |
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 | $38,939 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $104,688 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $143,627 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $759,905 |
| 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. | $2,600 |
| Compensation of current officers, directors, key employees. | $2,600 |
| 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 | $0 |
| Fees for services: Legal | $2,726 |
| Fees for services: Accounting | $3,333 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,697 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $788,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $111,945 |
| Savings and temporary cash investments | $372,301 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,947,975 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,432,221 |
| Accounts payable and accrued expenses | $3,100 |
| 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 | $3,100 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $2,429,121 |
| Total liabilities and net assets/fund balances | $2,432,221 |
Grants Awarded
Over the last fiscal year, The Gibbs Foundation Inc has awarded $759,905 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Missoula, MT PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $225,905 |
Louisville, KY PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $210,000 |
Louisville, KY PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $200,000 |
Louisville, KY PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $124,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Cincinnati Foundation Cincinnati, OH | $616,325,698 | $119,970,948 |
Schuler Education Foundation Lake Forest, IL | $54,673,241 | $7,067,242 |
Gary Sinise Foundation Nashville, TN | $79,715,180 | $58,070,139 |
Johnson Charitable Gift Fund Cincinnati, OH | $240,192,248 | $106,272,377 |
Young Mens Christian Association Of Greater Cincinnati Cincinnati, OH | $89,901,831 | $29,563,808 |
Veterans United Foundation Columbia, MO | $54,107,159 | $30,165,811 |
Jefferson Scholars Foundation Charlottesville, VA | $761,742,846 | $36,629,374 |
The Pauley Family Foundation Richmond, VA | $2,022,061,315 | $1,899,350,410 |
College Foundation Of The University Of Virginia Charlottesville, VA | $252,362,262 | $51,045,128 |
Independent Charitable Gift Fund Hudson, OH | $203,452,465 | $150,370,213 |
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |