The Babare Foundation
- Assets
- $1.3m
- Revenue
- $270.6k
- Investments
- $1.2m
- Employees
- 0
- Location
- Gig Harbor, WA
- Founding
- 10/1989
- Data as of
- 12/2023
- EIN
- 94-3099309
Organization Overview
The Babare Foundation is located in Gig Harbor, WA. The organization was established in 1989. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Babare 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, Babare Foundation generated $270.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $217.8k during the year ending 12/2023. While expenses have increased by 0.8% 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 2015, Babare Foundation has awarded 97 individual grants totaling $979,000. 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 |
|---|---|---|---|
Robert M Babare President | 2 | $0 | |
Cynthia Louise Babare Vice Pres. | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $338 |
| Dividends & Interest | $96,586 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $141,703 |
| Capital Gain Net Income | $141,703 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $31,960 |
| Total Revenue | $270,587 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,490 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $83 |
| Total operating and administrative expenses | $17,773 |
| Contributions, gifts, grants paid | $200,000 |
| Total expenses and disbursements | $217,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,196 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Total assets | $1,324,471 |
| 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 | $10,000 |
| Total liabilities | $10,000 |
Grants Awarded
Over the last fiscal year, The Babare Foundation has awarded $200,000 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
AGNUS DEI LUTHERAN CHURCH PURPOSE: TO FURTHER EXEMPT PURPOSE | $25,000 |
AMARA PURPOSE: TO FURTHER EXEMPT PURPOSE | $10,000 |
COMMUNITIES IN SCHOOLS PURPOSE: TO FURTHER EXEMPT PURPOSETO FURTHER EXEMPT PURPOSE | $10,000 |
DIABETES ASSOCIATION OF PIERCE COUNTY PURPOSE: TO FURTHER EXEMPT PURPOSE | $15,000 |
GH TIDES SCHOLARSHIP FUND - RPC MEMORIAL FUND PURPOSE: TO FURTHER EXEMPT PURPOSE | $10,000 |
EMEGENCY FOOD NETWORK PURPOSE: TO FURTHER EXEMPT PURPOSE | $10,000 |