Skip to content
Nonprofiteer
← INDEPENDENCE FIRST FOUNDATION INC

Form 990 for tax year 2025

Filed by INDEPENDENCE FIRST FOUNDATION INC.

Totals

Total revenue
$1,307,230
Total expenses
$865,666
Contributions and grants received
$0
Grants paid
$817,172
Program service revenue
$0
Investment income
$1,307,230
Other revenue
$0
Total assets, end of year
$17,983,207
Total liabilities, end of year
$16,295
Net assets or fund balances, end of year
$17,966,912
Program services expenses (Part IX)
$817,172
Management and general expenses
$48,494
Fundraising expenses
$0
Program service expenses (Part III)
$817,172

Program services were 94.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $726,524 · excluded $726,524

  • 7a · Gross sales of assets other than inventory

    securities $4,335,765

  • 7b · Less cost or other basis and sales expenses

    securities $3,755,059

  • 7c · Gain or loss

    securities $580,706

  • 7d · Net gain or loss

    total $580,706 · excluded $580,706

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $817,172 · program services $817,172

  • 11c · Fees: accounting

    total $1,500 · management and general $1,500

  • 11f · Fees: investment management

    total $46,915 · management and general $46,915

  • 13 · Office expenses

    total $79 · management and general $79

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,795 · end of year $4,216

  • 4 · Accounts receivable

    beginning of year $21,864 · end of year $29,152

  • 11 · Investments: publicly traded securities

    beginning of year $15,565,843 · end of year $17,366,932

  • 12 · Investments: other securities

    beginning of year $1,008,148 · end of year $582,907

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,649 · end of year $14,795

  • 25 · Other liabilities

    beginning of year $1,500 · end of year $1,500

  • 27 · Net assets without donor restrictions

    beginning of year $16,586,501 · end of year $17,966,912

Mission and programs · 2025

Mission

INDEPENDENCE FIRST FOUNDATION, INC. SUPPORTS THE CHARITABLE MISSION OF INDEPENDENCE FIRST, INC., A COMMUNITY-BASED, NON-RESIDENTIAL INDEPENDENT LIVING CENTER IN MILWAUKEE, WISCONSIN.

Activities or mission (Part I)

TO OPERATE FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF INDEPENDENCE FIRST, INC.

  • INDEPENDENCE FIRST FOUNDATION, INC., MAY ASSIST INDEPENDENCE FIRST IN EXPANDING OR FUNDING EXISTING PROGRAMS, AND IN THE DEVELOPMENT OF NEW FACILITIES, PROGRAMS, AND OPERATIONS TO FULFILL INDEPENDENCE FIRST'S CHARITABLE MISSION.

    Expenses $817,172 · Grants $817,172

As filed on the 2025 return.

Listed in Part VII

  • Ryan Ramos

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Billie Torrent

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kent Walters

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • John Dziewa

    SECRETARY (THRU JUNE 2025)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joanne Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lee Za Ong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Wierzba

    SECRETARY (FROM JUNE 2025)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Lauber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marcia Boucher

    PRESIDENT/CEO

    Total calculated
    $285,404
    From this org
    $0
    From related orgs
    $258,710
    Other
    $26,694
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $258,710 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,015 related
    Nontaxable benefits
    $0 + $13,679 related
    Filer's total
    $0 + $285,404 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE EXECUTIVE COMMITTEE, COMPRISED OF OFFICERS OF THE GOVERNING BODY, REVIEW AND DETERMINE OFFICER AND KEY EMPLOYEE COMPENSATION ANNUALLY. COMPENSATION GUIDES ARE REVIEWED. ALSO, THERE ARE GOALS RELATED TO THE ORGANIZATION'S FINANCIAL AND PROGRAM PERFORMANCE THAT ARE REVIEWED. ALL EMPLOYEES ARE REVIEWED ANNUALLY BY THEIR IMMEDIATE SUPERVISOR.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2025
Filed
5 August 2026
IRS schema version
2025v4.2
Source object
202602299349301590

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.