The Gibbs Foundation Inc

Analysis

The Gibbs Foundation Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in May 2015, 11 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type iii other) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Gibbs Foundation Inc reported income of $2.2m and spending of $3.3m, spending 146% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $414k to $2.2m (+439%), an average of +52% a year. The sharpest change came in the year to December 2020, when income rose by 568%. Over the whole period it spent 95% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Gibbs Foundation Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within KY. Charities of a similar size with the same main cause include Blowing Rock Charity Horse Show Foundation Inc ($2.2m), Friends of the Cornell Lab of Ornithology Inc ($2.2m) and Capitol Ministries ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $17k (0.5% of expenses). At year end it held assets of $1.1m against liabilities of $3,100, net assets of $1.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.