Ibc Foundation
- Assets
- $4.6m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Laredo, TX
- Founding
- 04/1999
- Data as of
- 12/2023
- EIN
- 74-2902265
Organization Overview
Ibc Foundation is located in Laredo, TX. The organization was established in 1999. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Ibc 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, Ibc Foundation generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Ibc Foundation has awarded 23 individual grants totaling $6,558,731. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis E Nixon Director/president | 1 | $0 | |
Judith Wawroski Director/vp/treasurer | 1 | $0 | |
Marissa V Santos Secretary | 1 | $0 | |
Larry Norton Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,701,500 |
| Interest on Savings | $91,205 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,792,705 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,697 |
| Contributions, gifts, grants paid | $1,200,000 |
| Total expenses and disbursements | $1,203,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,644,344 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $295 |
| Total assets | $4,644,639 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Ibc Foundation has awarded $1,200,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ST MARY'S UNIVERSITY PURPOSE: NURSING WING | $250,000 |
UT HEALTH SCIENCE CENTER PURPOSE: ENDOWED PROFESSORSHIP | $400,000 |
REMEMBER THE ALAMO FOUNDATION PURPOSE: ALAMO PLAN | $500,000 |
UNIVERSITY OF TEXAS - EL PASO PURPOSE: BANKING PROGRAM | $50,000 |