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Nonprofiteer
← GIBAULT FOUNDATION INC

Form 990 for tax year 2022

Filed by GIBAULT FOUNDATION INC.

Totals

Total revenue
$1,538,957
Total expenses
$1,337,880
Contributions and grants received
$237,053
Grants paid
$850,000
Program service revenue
$825,000
Investment income
$415,604
Other revenue
$61,300
Total assets, end of year
$15,146,507
Total liabilities, end of year
$1,441,446
Net assets or fund balances, end of year
$13,705,061
Program services expenses (Part IX)
$1,180,374
Management and general expenses
$157,506
Fundraising expenses
$0
Program service expenses (Part III)
$1,180,374

Program services were 88.2% 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.

  • 1f · All other contributions, gifts and grants

    $237,053

  • 2a · Program service revenue: Lease Income

    total $825,000 · excluded $825,000

  • 3 · Investment income

    total $193,698 · excluded $193,698

  • 7a · Gross sales of assets other than inventory

    securities $5,283,746 · other assets $150,000

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

    securities $5,155,372 · other assets $56,468

  • 7c · Gain or loss

    securities $128,374 · other assets $93,532

  • 7d · Net gain or loss

    total $221,906 · excluded $221,906

  • 11a · Other revenue: Miscellaneous

    total $61,300 · related or exempt $61,300

  • 11e · Other revenue, total

    $61,300

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $850,000 · program services $850,000

  • 11a · Fees: management

    total $25,000 · management and general $25,000

  • 11f · Fees: investment management

    total $44,018 · management and general $44,018

  • 20 · Interest

    total $46,142 · management and general $46,142

  • 22 · Depreciation, depletion and amortization

    total $318,374 · program services $318,374

  • 24a · Other expenses: Miscellaneous Expense

    total $42,346 · management and general $42,346

  • 24b · Other expenses: Property Taxes

    total $12,000 · program services $12,000

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $117,509 · end of year $369,489

  • 4 · Accounts receivable

    beginning of year $20,528 · end of year $22,894

  • 10a · Land, buildings and equipment: cost or other basis

    $18,676,676

  • 10b · Land, buildings and equipment: accumulated depreciation

    $12,699,053

  • 10c · Land, buildings and equipment, net

    beginning of year $6,352,012 · end of year $5,977,623

  • 11 · Investments: publicly traded securities

    beginning of year $10,112,674 · end of year $8,587,257

  • 12 · Investments: other securities

    beginning of year $83,123 · end of year $36,004

  • 15 · Other assets

    beginning of year $137,643 · end of year $153,240

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,051 · end of year $17,942

  • 25 · Other liabilities

    beginning of year $1,720,504 · end of year $1,423,504

  • 27 · Net assets without donor restrictions

    beginning of year $14,895,378 · end of year $13,515,697

  • 28 · Net assets with donor restrictions

    beginning of year $188,556 · end of year $189,364

Mission and programs · 2022

Mission

Provide support to Gibault, Inc. (a 501(c)(3) organization).

  • The Gibault Foundation, Inc. is dedicated to benefiting, servicing, and solely supporting Gibault, Inc. ( a Not-for-Profit 501(c)(3) organization). The Foundation contributes to Gibault, Inc. for programs and operations.

    Expenses $850,000 · Grants $850,000 · Revenue $61,300

  • In support of Gibault Inc.'s future growth, development, and financial well-being, the Foundation owns and maintains the buildings, land and land improvements. The buildings are leased by Gibault, Inc. for various programs. Depreciation expense was $318,374 in 2022. Additionally, the Foundation paid interest expense to a local bank related to a bond issue incurred to renovate existing buildings. Interest paid during 2022 was $46,142. The Foundation received lease payments from Gibault, Inc. totaling $825,000 during 2022.

    Expenses $330,374

As filed on the 2022 return.

Listed in Part VII

  • Paul Zielinski

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey R Guenther

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Scott Crossen

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Martin McCoy

    Director

    Total calculated
    $0
    Hours/week
    1

  • Scott Schutte

    President

    Total calculated
    $0
    Hours/week
    1

  • Michele Madley

    CEO

    Total calculated
    $278,377
    From this org
    $0
    From related orgs
    $268,087
    Other
    $10,290
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,542 related
    Bonus
    $0 + $46,000 related
    Other
    $0 + $3,545 related
    Deferred
    $0 + $7,191 related
    Nontaxable benefits
    $0 + $3,099 related
    Filer's total
    $0 + $278,377 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

  • 3 · Approval by the board or compensation committee

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

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
2022
Filed
11 May 2023
IRS schema version
2022v5.0
Source object
202311319349301461

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