Ibec Inc

Analysis

Ibec Inc is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in June 2022, 4 years ago. Its declared purposes cover science and technology, 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 December 2023, Ibec Inc reported income of $97k and spending of $190k, spending 195% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $341k to $97k (-71%), an average of -47% a year. The sharpest change came in the year to December 2022, when income dropped by 67%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ibec Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 40th percentile within FL. Charities of a similar size with the same main cause include Southern Hills Arts Council ($97k), New York Piano Society Inc ($97k) and Colorado Freedom Memorial Foundation ($97k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 3.1% of the total. At year end it held assets of $33k against liabilities of $49k, net assets of -$16k.