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Nonprofiteer
← INDEPENDENCE FIRST FOUNDATION INC

Form 990 for tax year 2024

Filed by INDEPENDENCE FIRST FOUNDATION INC.

Totals

Total revenue
$1,048,715
Total expenses
$880,317
Contributions and grants received
$0
Grants paid
$841,408
Program service revenue
$0
Investment income
$1,048,715
Other revenue
$0
Total assets, end of year
$16,601,650
Total liabilities, end of year
$15,149
Net assets or fund balances, end of year
$16,586,501
Program services expenses (Part IX)
$841,408
Management and general expenses
$38,909
Fundraising expenses
$0
Program service expenses (Part III)
$841,408

Program services were 95.6% 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 $431,383 · excluded $431,383

  • 7a · Gross sales of assets other than inventory

    securities $4,486,576

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

    securities $3,869,244

  • 7c · Gain or loss

    securities $617,332

  • 7d · Net gain or loss

    total $617,332 · excluded $617,332

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $841,408 · program services $841,408

  • 11f · Fees: investment management

    total $38,829 · management and general $38,829

  • 24a · Other expenses: LICENSES AND FEES

    total $80 · management and general $80

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,374 · end of year $5,795

  • 4 · Accounts receivable

    beginning of year $22,784 · end of year $21,864

  • 11 · Investments: publicly traded securities

    beginning of year $15,285,978 · end of year $15,565,843

  • 12 · Investments: other securities

    beginning of year $593,598 · end of year $1,008,148

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,085 · end of year $13,649

  • 25 · Other liabilities

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

  • 27 · Net assets without donor restrictions

    beginning of year $15,895,149 · end of year $16,586,501

Mission and programs · 2024

Mission

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

  • 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 $841,408 · Grants $841,408

As filed on the 2024 return.

Listed in Part VII

  • Ryan Ramos

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Billie Torrentt

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Kent Walters

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • John Dziewa

    SECRETARY (FROM JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • David Frank

    TREASURER (THRU JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Joanne Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lee Za Ong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marcia Boucher

    PRESIDENT/CEO

    Total calculated
    $270,342
    From this org
    $0
    From related orgs
    $245,894
    Other
    $24,448
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $245,894 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,394 related
    Nontaxable benefits
    $0 + $12,054 related
    Filer's total
    $0 + $270,342 related

  • Wendy Huot

    CHIEF FINANCIAL OFFICER

    Total calculated
    $207,184
    From this org
    $0
    From related orgs
    $196,072
    Other
    $11,112
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $196,072 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,663 related
    Nontaxable benefits
    $0 + $1,449 related
    Filer's total
    $0 + $207,184 related

  • Kathy Acevedo

    CHIEF OPERATING OFFICER

    Total calculated
    $204,975
    From this org
    $0
    From related orgs
    $177,021
    Other
    $27,954
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $177,021 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,482 related
    Nontaxable benefits
    $0 + $22,472 related
    Filer's total
    $0 + $204,975 related

  • Tracy Thomas

    CONTROLLER

    Total calculated
    $173,078
    From this org
    $0
    From related orgs
    $149,309
    Other
    $23,769
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,309 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,922 related
    Nontaxable benefits
    $0 + $15,847 related
    Filer's total
    $0 + $173,078 related

  • Jacob Nowak

    INFORMATION TECHNOLOGY DIRECTOR/ FACILITIES DIRECT

    Total calculated
    $164,213
    From this org
    $0
    From related orgs
    $120,289
    Other
    $43,924
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $120,289 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,592 related
    Nontaxable benefits
    $0 + $37,332 related
    Filer's total
    $0 + $164,213 related

  • Myra Sanchick

    MARKETING & STRATEGIC PARTNERSHIPS

    Total calculated
    $151,983
    From this org
    $0
    From related orgs
    $123,514
    Other
    $28,469
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $123,514 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,269 related
    Nontaxable benefits
    $0 + $22,200 related
    Filer's total
    $0 + $151,983 related

  • Scott Curwick

    HUMAN RESOURCES DIRECTOR

    Total calculated
    $124,779
    From this org
    $0
    From related orgs
    $109,442
    Other
    $15,337
    Hours/week
    3 + 40 related

  • Samantha Hudson

    PERSONAL ASSISTANCE SERVICES DIRECTOR

    Total calculated
    $132,673
    From this org
    $0
    From related orgs
    $111,614
    Other
    $21,059
    Hours/week
    3 + 40 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
INDEPENDENCE FIRST, INC. USES A COMPENSATION COMMITTEE, COMPENSATION STUDY, AND APPROVAL BY THE COMPENSATION COMMITTEE TO ESTABLISH COMPENSATION FOR OFFICERS AND KEY EMPLOYEES.

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
2024
Filed
21 April 2025
IRS schema version
2024v5.1
Source object
202511129349301216

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

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