The Iiibs Foundation

Analysis

The Iiibs Foundation is a registered charity in United States, based in Brambleton, VA. It received its IRS tax-exemption ruling in February 2012, 14 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, The Iiibs Foundation reported income of $303k and spending of $214k, leaving 29% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $142k to $303k (+113%), an average of +29% a year. The sharpest change came in the year to December 2020, when income rose by 145%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Iiibs Foundation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within VA. Charities of a similar size with the same main cause include Magnalia Homestead Foundation ($303k), Faneuil HIV Housing Corporation ($303k) and USA Swimming Inc ($303k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 107% of the total. Compensation of current officers, directors and key employees was $70k (33% of expenses). Other salaries and wages came to $47k. At year end it held assets of $386k against liabilities of $6,910, net assets of $380k. It reported 2 employees.