The Gibbs Foundation Inc
- Assets
- $2.2m
- Revenue
- $867.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 05/2015
- Data as of
- 12/2022
- 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 12/2022, Gibbs Foundation Inc generated $867.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Gibbs Foundation Inc has awarded 20 individual grants totaling $3,142,255. 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
2022
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 |
|---|---|---|---|
Jack A Moss Jr Director | Trustee | 1 | $200 |
Hannah Roquet Director | Trustee | 1 | $200 |
Lee Groza Chairman | OfficerTrustee | 1 | $200 |
George S Gibbs III Chairman/executive Director (term End 1/22) | OfficerTrustee | 1 | $0 |
Ann D Schell Vice Chairman/secretary | OfficerTrustee | 1 | $200 |
James E Moore III Treasurer | OfficerTrustee | 1 | $200 |
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 | $853,608 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $853,608 |
| Total Program Service Revenue | $0 |
| Investment income | $23,825 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,667 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $867,766 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,128,000 |
| 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. | $1,200 |
| Compensation of current officers, directors, key employees. | $1,200 |
| 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 | $1,699 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,227 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $110 |
| 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 | $319 |
| All other expenses | $57 |
| Total functional expenses | $1,147,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $797,226 |
| Savings and temporary cash investments | $231,331 |
| 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 | $1,123,842 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,152,399 |
| 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 | $2,149,299 |
| Total liabilities and net assets/fund balances | $2,152,399 |
Grants Awarded
Over the last fiscal year, The Gibbs Foundation Inc has awarded $1,128,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
KILGORE SAMARITAN COUNSELING PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $50,000 |
21ST CENTURY PARKS INC PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $203,000 |
UNIVERSITY OF LOUISVILLE FOUNDATION PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $795,000 |
THE MORTON CENTER PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $30,000 |
KENTUCKY CHAPTER OF AMERICAN CHESTNUT FOUNDATION PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $50,000 |