Ibma Foundation Inc

Analysis

Ibma Foundation Inc is a registered charity in United States, based in Burlington, NC. It received its IRS tax-exemption ruling in February 2019, 7 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2023, Ibma Foundation Inc reported income of $127k and spending of $124k, spending 98% of its income. Across the 3 years on record, from June 2021 to June 2023, income fell from $350k to $127k (-64%), an average of -40% a year. The sharpest change came in the year to June 2023, when income dropped by 45%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ibma Foundation Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 41st percentile within NC. Charities of a similar size with the same main cause include Melanie Kirk Stauffers Dance Theatre Northwest ($127k), Heart of Music Festival Inc ($127k) and Rose Valley Centennial Foundation ($127k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $20k (16% of expenses). At year end it held assets of $438k against liabilities of $0, net assets of $438k.