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Nonprofiteer
← THE GIBBS FOUNDATION INC

Form 990 for tax year 2024

Filed by THE GIBBS FOUNDATION INC.

Totals

Total revenue
$2,074,215
Total expenses
$2,249,948
Contributions and grants received
$1,945,000
Grants paid
$2,218,250
Program service revenue
$0
Investment income
$129,215
Other revenue
$0
Total assets, end of year
$953,760
Total liabilities, end of year
$3,100
Net assets or fund balances, end of year
$950,660
Program services expenses (Part IX)
$2,218,250
Management and general expenses
$31,698
Fundraising expenses
$0
Program service expenses (Part III)
$2,218,250

Program services were 98.6% 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.

  • 1f · All other contributions, gifts and grants

    $1,945,000

  • 3 · Investment income

    total $45,841 · excluded $45,841

  • 7a · Gross sales of assets other than inventory

    securities $423,508

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

    securities $340,134

  • 7c · Gain or loss

    securities $83,374

  • 7d · Net gain or loss

    total $83,374 · excluded $83,374

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,218,250 · program services $2,218,250

  • 5 · Compensation of officers, directors and key employees

    total $12,750 · management and general $12,750

  • 11b · Fees: legal

    total $1,186 · management and general $1,186

  • 11c · Fees: accounting

    total $7,334 · management and general $7,334

  • 11f · Fees: investment management

    total $3,750 · management and general $3,750

  • 13 · Office expenses

    total $5,502 · management and general $5,502

  • 16 · Occupancy

    total $1,176 · management and general $1,176

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $113,404 · end of year $102,417

  • 11 · Investments: publicly traded securities

    beginning of year $1,005,977 · end of year $851,343

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,100 · end of year $3,100

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,116,281 · end of year $950,660

Mission and programs · 2024

Mission

THE GIBBS FOUNDATION'S PURPOSE IS TO PROVIDE FUNDS TO ORGANIZATIONS QUALIFYING AS EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS STIPULATED BY THE GIBBS FOUNDATION CRITERIA.

  • THE GIBBS FOUNDATION'S PURPOSE IS TO PROVIDE FUNDS TO ORGANIZATIONS QUALIFYING AS EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS STIPULATED BY THE GIBBS FOUNDATION CRITERIA.

    Expenses $2,218,250 · Grants $2,218,250

As filed on the 2024 return.

Listed in Part VII

  • Jack A Moss Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Hannah Roquet

    SECRETARY

    Total calculated
    $12,750
    From this org
    $12,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lee Groza

    CHAIRMAN/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ann D Schell

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • James E Moore III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ivan Schell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202503219349310190

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